Market outlook and positional calls for week starting 3 Nov 09

Hello Guys, no need to panic with the recent crash in the market... It was a much awaited correction but no one expected the way it came..

Hold onto all your positions and keep patience..market seems to be bottomed out and fresh new up move is on the cards. Having said that global markets are not faring well, wherein Dow closed down by more then 240 points on Friday.. So next few sessions would be very very volatile to trade in to..

Nifty call for November series:
For Nifty, 4660-4630-4600 expected bottom from where nifty is expected to bounce up to 4900-5000 in November.

One can buy nifty futures @4700, closing basis stop loss 4660 target 4950-5030

One can also buy nifty 4900 CA @54-55 SL 30 target 150+

Important Note: Nifty close below 4600 can take nifty to 4400 for sure.. so please respect SL in nifty and your stock future positions and trade..

Weekly calls
Tata motors looks hot..
buy RCOM 190 CA or 200 CA for a very good up move
buy McDowell above 1061 for 5% up move
buy Astral above 149

Investment call
Buy JKumar and Supreme Ind for a good up move in next 5-6 months timeframe.. returns expected can be more then 50%

Happy trading!