Market Outlook Dec 22 2010

Market Outlook Dec 22, 2010

market started postive and touched the 6000 mark on Nifty and closed at 6000 mark led by the banking stocks recovery,important Resistance level of 5963 was broken today.




Next Day Trading Ranges for Wednesday Dec 22, 2010

Protective stop = 6007
Trading Range ---- High = 6018 Low = 5971
Next Day Pivot Point ---- 5989

The 20 day moving average of the daily trading range is 109 and the 60 day moving average of the daily trading range is 92. This shows that volatility has increased in the short term.

The [R2] most extreme high trading range on upside is 6066
The [R2] or the extreme high trading range is 6036
The [R1] or the high trading range is 6018
The [P] or pivot point is 5989
The [S1] or the low trading range is 5971
The [S2] or the extreme low trading range is 5941
The [S3] or the most extreme low trading range is 5923
if the price rises above 6036.7837 then that would show momentum against short position and that would be a break out to the upside.

Click on Traders Call for Day Trading recomandations .
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US market Cues:
Stocks advanced on Tuesday as solid earnings and a flurry of merger action laid the foundation for a steady upward trend in the equities market that investors potentially see accelerating,Stock indexes hit new highs after topping key technical resistance levels. The S&P 500 has rallied more than 6 percent to two-year highs this month and was up around 22.6 percent from closing lows this year.

European market Cues:

Britain's top share index held firm around midday on Tuesday, led by strength in commodity shares and a bounce by banks, though volumes were thin as the Christmas holidays approached.

Yesterdays Recos Performance Update .

ARSS buy @ 773 High 835k Profit - appx 60 Rs
UBL buy @ 484 High 502 profit - appx 18 rs
GSSamerica buy @174 High 180.9 Proift - appx 6 Rs - Upper Circuit

Total Profit - appx 84 Rs intraday.

Book 50% profit and hold on the positions

10 %, 20%,30%,40%,50%,60%,70%,80%,90% is done..Our target 100% .
Happy Investing
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