Friday, August 06, 2010

Outlook for 6th August 2010

Daily trend of the market is up
The market has taken some resistance and may take some correction, but as the trend is still up, so the readers who had created long positions in Nifty on 15th June may go on holding the longs.
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Percentage above support
Percentage of stocks above support is still above 50%, so the readers who have created positions in cash market may hold them till the percentage of shares above support remains above 50%. ________________________________________________________________ __
Strong Futures
This is list of 10 Strong Futures: Petronet, MLL, Allahabad Bank, IOB, Bank Of India, Hind Zinc, UCO Bank, HCL Tech, Orient Bank & Vijaya Bank.
Weak Futures
This is the list of 10 Weak Futures: RNRL, Punj Lloyd, Patni, TV-18, Nagarjuna Const, EKC, R Power, RCOM, India Hotel & ABB.
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