It seems Dubai crisis is solved in 3 days, Everything now seems to be hunky dory

Three days earlier people went on to say that it could be an another " Lehman Brothers " and markets are going to fall to unexpected levels like 4000 and that too very soon. Markets did fell till 4800 only to recover all the losses in 3 days. This is a very good example that if u have had a very bad experience in the past like Lehman Brothers, u will relate any bad news in the future like " Dubai Crisis " to your past experience only to be proved wrong by Markets which again proves that "Markets are supreme" !!!


Nifty View:

Expect Nifty to breakout above this orange trendline at the opening bell itself as Dow Jones is holding a triple digit gain and eventually breaking out the Diwali high of 5180, although here we could see minor resistance at 5180. After all this Nifty might be heading towards upper end of the channel i.e 5350-5400 very soon



Dow Jones View:

Triple digit gain in Dow jones (with low volumes) but not able to cross upper end of the channel at 10600. Constant supply is seen at this level, so its better not to buy at higher levels or buy when it breaks out from 10600. If it doesn't cross 10600 in few days then expect 10000 very soon.


Stock View: Hotel Leela

Hotel Leela has finally given a breakout above 41 levels, and it can touch 47-48 levels or the red line in chart in short term, keep a stop loss of 40 in this stock. The best part of this move was that breakout has come with huge volumes which is a great sign. 41 will act as a huge support for this stock


Stock View: Geodesic

BEFORE: Recommended Yesterday that it can bounce back to 109 levels



AFTER : Today itself the stock touches a high of 108.65 almost completing target of 109




Have a very nice trading day!!!

Regards

Ankit