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DATE – 17^th    MARCH 2009

World Market

Dowjones 7216 Down -7
Nasdaq 1404 Down -27
Nikki 7819 Up +115
SGX NIFTY + 9
Crude 46.99
Dollar 51.13

 

 

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ABOVE 2780 NEXT TARGET WILL BE 2800 2850, 2700 WILL THE MAJOR SUPPORT LEVEL, TRADING RANGE BETWEEN THE 2680-2850

NIFTY: closed@2774.20

CLOSING ABOVE 2770 IS GOOD OPPORTUNITY TO CARRY YOUR POSITION. BUY ON EVERY DEEP WITH THE SL OF 2730

BANK NIFTY: closed@3738

CLOSED AROUND ITS DAY'S HIGH BUYING OPPORTUNITY WITH THE SL OF 3600

MARKET WATCH

NSE INDEX:

We told you yesterday that the major resistance will be the 2780 just check yesterday's high, above 2780 next tgt will be the 2820 and 2850, if continuously trade above 2720.

BSE INDEX:

8500 is the psychological support for the sensex, if break this then next target will be the 8300.

STOCKS TO WATCH

RELIANCE: (closing 1326)

Yesterday we told you that good opportunity for buying we hope you follow our call if maintain 1300 then next target will be the 1340-1350, below 1300 may touch 1280 1250.

SBI: (closing 987)

If trade above 950 then next target will be the 1000-1050. Opportunity for short term buying.

RELCAPITAL: (closing 316)

Buying opportunity only above 300.

NTPC: (closing 171.20)

Closing around day's high if trade above 170 then next target will be the 174-175. 180 is the most important resistance level.

AKRUTI: (1407)

Shown a good move yesterday, but selling pressure seen from upper level, buy only if trade above 1380.

INFOSYS: (closing 1291)

Buy with the stop loss of 1270 target will be 1310-1320.

DLF: (closing 159)

Yesterday we told you good opportunity for buying we hope you enjoy our call, buy again with the stop loss of the 153.

CALL/ PUT STRATEGY

Nifty: nifty call of 2700 strike price was most active call so we can assume that this level is the major support level for the index.

Nifty: highest put writing was seen in nifty 2500 put so a little short covering is expected from lower levels.

RELIANCE: reliance 1230 call and put were both active so this level we may consider as a strong support.

DLF: We suggest that DLF call of 170 strike price, may show good movement today so buy this call.

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DISCLAIMER :

Stock trading involves high risk and one can lose Substantial amount of money.The recommendations made herein Do not constitute an offer to sell or solicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will Not result in losses. Readers using the information contained herein are solely responsible for their actions. The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on technical analysis only. NOTE WE HAVE NO HOLDINGS IN ANY OF STOCKS RECOMMENDED ABOVE.