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DATED : 4th may 2009
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TRADING DAY.
CURRENT POLITICAL ENVIRONMENT MAY LEADS THE VOLATILITY IN MARKET
Outcomes of Elections in India
If + but
1. If congress-Led coalition (without support of Left) :Already response in the market and price.
2. If congress Led coalition with communist support.- Rally will fizzle out.
3. BJP-led alliance : Market response - Major correction but in long term positive for investors - target 12500-13000
4. Third Front : Disaster in the market. Sensex could fall below 8000 and lower.
Source : fullermoney.com
Buy Nifty Future at 3482 ; Stop Loss 3465 ; Target 3506,3522,3540,3558,3580
Sell Nifty Future below 3455; Stop Loss 3465 ; Target 3432,3418,3405,3392,3380,3375
NIFTY TODAY'S DECISIVE LEVELS:
UPPER SIDE: 3520 3550
LOWER SIDE: 3450 3420
TREND DECIDER WILL BE 3465
BULL RUN IS STILL REMAINING ABOVE 3280
Market Out Look
MARKET LOOKS GOOD AT LOWER LEVELS FRESH BUYING MAY EXPECT IF IT SUSTAIN AT CURRENT LEVELS .NOW MARKET BECOME VOLATILE SO TRADE CATIOUSLY. Option Strategy :
AS PROFIT TAKING MAY EXPECT AT HIGHER LEVEL THE PUT OPTION OF NIFTY 3300-3200 ARE ACTIVE WHILE IF NIFTY SUPPORTS 3500 SO CALL OPTION OF 3400-3500 ARE ALSO HAVING STRONG VOLUME.
Sectortrend: THE POWER,IT,REALTY ,AND, METAL SECTORS ARE EXPECT TO SHOWING STRENGTH WHILE BANKEX ,FMCG HAVING UNDER PRESSURE.
STOCKWATCH:THE RPOWER,BANK INDIA, BHARTI ARTL,STERLITE ,TATA POWER ARE LOOKING GOOD WHILE ,GODREJ, JPASSOCIAT ARE IN DOWN TREND .
NIFTY: closed@3483.10
From last few trading sessions we are continuously observing that nifty is facing the problem to sustain above 3520, after touching this level it shows intense profit booking, so we can consider that it becomes the most important resistance for coming days. In other words we can say confidently, that if nifty crosses 3520 3550 then only strong bullish phase will continue, otherwise volatility will remain with major support of 3280.
For today buy only above 3390, may reach 3520 3530, if cross then next target will be the 3550 3570. Below 3390 may reach 3330 3300.
BANK NIFTY: closed@5133
From last few days we are continuously saying that buy this stock with strict stop loss of 4800, we hope you are following us. For today major resistance will be 5250 5200.
INDEX OUT LOOK
NSE : THE MAJOR TRADING RANGE OF NIFTY IS 3350-3500 IF NIFTY GOES ABOVE 3550 AND MAINTAIN THEN GO FOR NEXT TAR OF 3700 BUT ANOTHER SIDE BELOW 3350 GOES DOWN TO 3200.
BSE : SENSEX MAINTAINS ABOVE 11000 WHICH SHOWS STRENGTH HERE IF SENSEX CROSS THE NEXT RESISTANCE OF 11470 THEN RUNS CONTINUE UP TO 11600 AND BELOW 11000 WEKNESS MAY STARTS THEN DOWNSIDE GO TO 10700-10500.
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STOCKS TO WATCH
| TOP PICKS OF THE DAY RELIANCE: (closing 1806) Again buy with stop loss of 1680 with the target of the 1840 1850. Coming days most powerful resistance will be the 1938. But stock closed around its resistance so upper level profit booking is possible buy on every dip. SBI: (closing 1282) 1320 will be the major resistance for today if cross this then may reach 1330 1340. Lower level buying opportunity with the stop loss of the 1210. RELINFRA: (closing 695) Very strong closing, if continue this movement then no doubt can touch 730 740 levels. But major support level will be the 660, if breaks this then may reach 630 620. JPASSOCIAT: (closing 138.90) Very strong movement on rally this stock may reach 150 155, but before that little profit booking is expected, but dip will be a buying opportunity. Major support level will be 125. TATASTEEL: (closing 238.75) Upward movement will continue provided it should not break 226. May touch 250 255 levels. Sell only below 226 for the target of 220 200. POLARIS: (closing 66) Stock is on bullish mode but buy with the stop loss of 62 for the target of 70 72. But below 62 level the stock is weak may reach 58. ICICIBANK: (closing 478.60) Major resistance will be 510, if cross then very strong bullish move. And major support level will be 425, sell only below this level. CALL/ PUT STRATEGY Nifty: 3500 put shows good volume we must trade according the trend. Nifty: may buy 3600 call. INFOSYS: yesterday we told you buy Infosys 1440 call; we hope you all follow our call and earned good profit. |
| DO NOT GET CONFUSED FROM THE CHARTS AND TECHNOLOGY BECAUSE TECHNOLOGY CAN NOT REPLACE THE HUMAN MIND `BELIEVE US' |
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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.
