11 AUG 2008


LAST WEEK IS ENDED WITH POSITIVE NOTE.
BUT, THESE POSITIVENESS COMES FROM WORLD MARKET (DOW) AND CRUDE, CRUDE FALLEN 20%.
BASICALLY, I M NOT BEARISH IN OUR MARKET… BUT STRONGLY FEELS – IF A CORRECTION COMES
THEN WE SEE SOLID BULL RALLY AHEAD… WHICH TOOKS NIFTY @ 4802, 4957, 5080 AND 5180
NOTE NIFTY 4747 ARE OUR 200 SDMA – AND NIFTY BEYOND 200 SDMA MEANS – MARKET
HEALTHIER!!
MONDAY MARKET OPEN HUGE GAP UP AND CROSS PREVIOUS RECENT HIGH 4615 (APPROX 4630 -
4645), THEN A CORRECTION CAN TAKE PLACE.. (IT’S AN OPPORTUNITY TO OPERATORS THAT THEY
SELL WHEN ALL ARE BUYING)
NIFTY LOWER SUPPORTS ARE – 4480 / 4440 / 4385
ON 13TH SEBI SEATS WITH P-NOTE ISSUE, ON 22ND – US-INDIA BUSINESS COUNCIL (USIBC) SEATS
FOR US CONGRESSIONAL APPROVAL FOR THE INDIA-US CIVIL NUCLEAR DEAL.
THESE TWO EVENTS – DECIDE OUR MARKETS STRONG FUTURE !! BEFORE THAT MARKET NEED
SHARP CORRECTION - COZ ALL INDICATORS ARE OVER HEATED.
SHORTS –
BIOCON AT STOPS LOSS OF 385.60 TGT 369.80 CMP 380.40
ACC LTD STOPS LOSS 639 TGT595 CMP 629.40
CANRA BANK STOPS LOSS 218 TGT 194 CMP 215.95
HCL TECH STOPS LOSS 229 TGT 210 & 200 CMP 225.25
IDBI STOPS LOSS 94.50 TGT 83 CMP 92.70
JET AIRWAYS STOPS LOSS 484 TGT 468 / 448 CMP 479.20
LUPIN – STOPS LOSS 735 TGT 700 CMP 728
BUY –
ALL POWER SHARES, RELAITED TO NUC DEAL.
TISCO – WITH SL 636 TGT 685 CMP 645
TATA POWER CMP 1068 SL 1030 TGT 1120
HARRISAN MALLYALAM