Trading ideas for this week form 7th Dec to 11th Dec 2009.

Nifty

Nifty range is 4940 to 5150, closing above or below, either side indicate trend.Closing above 5150 – Nifty can target 5280 and 5410.Closing below 4940 then Nifty can 4705 and 4575 with minor support at 4800

Reliance

Immediate range is 1040 to 1100 (closing basis) and intraday basis breakout above target 1149 and 1187.Below 1065 can test 1040 – weak only if closes below 1040.

Tata steel

Support at 563 –554 -545 can buy on dips with stop loss 545. Weak only if closes below 545. Close above 585 then can target 610-637 -711.

ICICI Bank

Support $ 864 – 851- close below 850 then can test 782. Now close above 887 would indicate bullishness up to 931 to 948.

DLF

Range 350 to 390. Closing above 390 can take 415 to 440 on upper side. Below 350 then 330 – 306 can be tested.

BHEL

2150 to 2280 is the near term range- break of either side could indicate near term trend.Buy on dips with stop loss 2150 and sell on bounce with stop loss 2280- should be the near term strategy.

INFOSYS

2325 to 2440 is the range, buy on dips could be profitable- one of the strongest stocks among the Nifty 50.

BHARTI ARTL

Bharti artl bouncing from lower level of 275 can target 325. A close above can take the stock to 340 to 357 levels. And close below 300 would end the uptrend.

REL. INFRA

Range 1082 to 1032, a close below either side could indicate the next trend. Above 1080 can take the stock to 1120 to 1155 and break of 1032 – can test 990 to 962.

Stocks that are indicating bullish for coming days

Manaksia

Fortis health care

GMR Infra

Hindustan Petroleum

LYKA labs

TV- 18