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DATE – 18th MARCH 2009
WORLD MARKETS :
SGX NIFTY 2785 +30
DOW +2.4%
NASDAQ +4%
NIKKEI -0.5%
STRAITS +1.3%
HSENG +1.5%
SHANGHAI +0.4%
DOWfut -0.1%
NASDAQfut -0.1%
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Today's Techncial Outlook
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CHOPPY MARKET
On Decline +
On Rise Sell
Market Out Look
As expected Nifty face resistance 2800, thereafter strong profit booking were seen.
Option Strategy :
2700 Call and Put were the most active and added substantial open interest position 2.75 lacs and 17.45 lacs respectively. On the other hand 2800 call also added 10 lacs put added 5.21 lacs. These are indicating that traders are expecting the Nifty range 2700-2800.
Weekly Prediction
Monday (16.3.2009) Positive Bias
Tuesday(17.03.2009) Positive Bias but......
Wednesday 18.03.2009) Profit Booking
Thursday (19.03.2009) Profit Booking
Friday : (20.03.2009) Profit Booking
INDEX OUT LOOK
NSE : Above 2800 target 2850-2860, thereafter....below 2710 further weakness.
BSE : Strong resistance 9000-9100 range and rise up to profit booking expect4ed, down side as remain 8640, market will remain positive.
DO YOU REMEMBER YESTERDAY WE TOLD YOU THE MAJOR "RESISTANCE LEVEL FOR NIFTY IS 2800" JUST CHECK ITS YESTERDAY'S HIGH!!!
MAJOR SUPPORT LEVEL FOR TODAY WILL BE 2730-2710 AND FOR BSE IS 8500
BANK NIFTY: closed@3654
If breaks 3600 then next target will be the 3500 and 3450, and major resistance level will be the 3750.
STOCKS TO WATCH
RELIANCE: (closing 1303)
If successfully trade below 1290 then selling opportunity, with the stop loss of 1310.
SBI: (closing 950)
Unable to cross 1000 in strong bullish sessions, selling pressure will be witnessed if breaks 950, target will be 900 870.
BHARTI: (closing 571)
Unable to cross 600 selling pressure seen from upper levels sell this stock with the stop loss of 600.
MARUTI: (closing 696.65)
If trade below 690 then sell this stock with the stop loss of 705 for the target of 675 660
SAIL: (80.40)
Buy only above 81.
TCS: (closing 497.55)
Below 500 the target will be 480-470.
JP ASSOCIATE: (closing 74.50)
If trade below 73 then sell this stock for the target of 71-69 with the stop loss of 76.
CALL/ PUT STRATEGY
Nifty: immense position raised in 2500 put so we may conclude that 2500 put is major support level for nifty.
Nifty: highest call writing was seen in 2800 call so the major resistance for nifty will be the 2800 level.
ICICIBANK: you may sell icici 300 call for intraday gains.
HOT OF THE DAY
Delivery call
HDIL
10 to 15% move
For detail contact us on 098850-24595 or mail us at nsemagic@yahoo.com
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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.
