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Friday, October 16, 2009

Sokhi Market Outlook for 16th October !

Markets which opened firm in the morning came under heavy selling pressure by mid trading and recovered and closed above 5100 losing nearly 9 points.

DOWJONES gained towards the end of the day.The Dow gained 47 points and closed at 10,062 whicle Nasdaq gained 0.05 percent .

Asian markets are trading flat with HANSENG gaining 0.35 % and NIKKIE 0.19%

Indian markets are expected to trade in narrow range and bulls and bears would try to take oppurtunity. there is lot of profit booking in the market but the fresh money is helping the bulls stay on top. We advice members to be cautious as with inflation raising we may see rate hikes on OCT 27 which may break the present bull run .

Bajaj Auto has posted stellar results . Watch out auto stock for the days we also advice members to concentrate on midcap IT space which is looking hot.

FIIs are buying Icici Bank, Ibrealst and Fintech........FII DESK REPORT

Over all we may see a narrow band markets today

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DISCLAIMER

All the advises,calls,tips and predictions are neither an offer nor a solicitation to purchase or sell securities.The information and views given by writer is believed to be reliable but no responsibility (liability) is accepted for error of facts and opinion.Writer may be trading in or having positions in stock markets.