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DATE – 16th MARCH 2009
World Market:
SGX NIFTY 2730 +9.5
DOW +0.7%
NASDQ +0.4%
NIKEI +2.1%
STRAIT -1.1%
HSENG +1.1%
SHANGHI -0.4%
DOWfut -0.3%
NASDAQft -0.5%
CRUDE44.6$
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2670 WILL BE THE DECISIVE LEVEL FOR NIFTY, IF BREAKS THIS THEN BUYING SHOULD BE AVOIDED, ON OTHER HAND 2750 WILL BE THE DECISIVE RESISTANCE IF MAINTAIN THEN NEXT TGT WILL BE THE 2800, 2850
NIFTY: closed@2716
WE TOLD YOU ON FRIDAY THAT MORE UPWARD IS EXPECTED WE HOPE YOU FOLLOW OUR CALL. A FLAT OPENING IS POSSIBLE ON MONDAY ON RISE SELLING PRESSURE IS EXPECTED BUYING OPPORTUNITY ONLY ABOVE 2670.
BANK NIFTY: closed@3636
BUYING OPPORTUNITY IF CONTINOUSLY TRADE ABOVE 3590 BELOW THIS MAY REACH 3400.
MARKET WATCH
NSE INDEX:
Nifty closed at its strongest resistance if maintain this level then upper side tgt will be the 2750 and 2770, and major supports are 2680 2640.
BSE INDEX:
We are continuously mention this from last few sessions that above 8300 good buying opportunity, now this level becomes the strong resistance.
STOCKS TO WATCH
RELIANCE: (closing 1284)
The whole "R" group was leading the market, and closed around its day's high gives us a hope for more recovery in markets. Now if trade above 1260 then next target will be the 1310 1340, the most important support will be the 1200.
SBI: (closing 953)
Buying opportunity only if trades above 935, below this may touch 800, major resistance levels will be the 965, 970.
DLF: (closing 152.65)
Above 150 more upward is expected, 135 is the major support.
TATASTEEL: (closing 166.65)
Closing around day's high if trade above 154 then more upward is expected.
ICICIBANK: (308.65)
If trade above 305 then next target will be the 325, below that may touch 295.
LT: (closing 615.45)
Closed above 600 is good sign, if maintain this level then may touch 650, but below his level major support is 570.
RCOM: (closing 146.90)
Above 140 good opportunity to buy.
CALL/ PUT STRATEGY
Nifty: put of 2500 strike price was so active OI wise, highest put writing was seen, now little buying is expected.
Nifty: highest active call was 2800 call, so we can assume that 2800 will be the strongest resistance.
RELIANCE: reliance 1260 call was so active; our paid clients bought this call at the level of 30 and sold it at 50 a fantastic call.
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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.
