Nifty Strategy 7 sep 09

Anu Jain, Vice President – IIFL Private Wealth Management, India Infoline says that Nifty is probably going to attempt 4740 again in the next 1-2 days & then 4790, so thats where markets are going to see the real resistance emerge.

The whole realty sector has been very strong over the last couple of weeks, have seen a lot of resiliance when the market was giving up. Out of the pack Unitech seems to be the strongest. Buy Unitech with a stop loss of Rs 102.5-102.6, with a target of RS 122. Buy Sesa goa with a stop loss of about Rs 206, with a target of Rs 224-225 in the short term.

Sudarshan Sukhani, Technical Trends says that buying is suggested with a stop below 4650 and a possible target of 4750. ITC has rallied after a decent correction, with a stop at Rs 230 buying can be done with a target immediately of Rs 250 where resistance comes in.

Powergrid has found support repeatedly around Rs 105, which is where a stop loss should be placed. Looking for an immediate target of Rs 111 or 112

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