Nifty View 19/01/10

A great bounce after a gap down open, bugging the global trend, nifty managed the high on open hour itself. There after the index move was a bit sluggish, but not with the scripts again. Don't know how many of you get those, (lot of them even very new to me). Most of the stocks were up around 10 to 20% on back of disinvestment news.

Apart from this, the hero for the day was bank and autos. Today's bounce from bank nifty adding more hope for 5400. Tatamotors showing strength again and it can target to 840+ in mere term. Like wise SBI is ready for a bounce, Intraday traders can use this.

Small scripts like MTNL, RNRL are getting quite good volume and moving up. In fact today MRPL also jumped up on back of some news. So short term traders can make use of long in these scripts.

Entry and exit levels only to Paid Clients.

Nifty spot levels for the day:

5228 - 5247 - 5274 - 5297 - 5312 - 5330