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Indian Markets Technicals

Friday, September 7, 2007

Both Nifty & Sensex have become very strong at these levels. The trend for fresh buying positions will continue if the markets trade beyond 4376 & 15083 . There are chances that Nifty may move 190 - 191 points up & Sensex may move 534 - 535 points up. There are chances of a weekly swing of around 275 points & 765 points in Nifty & Sensex respectively.

If the markets sustain above 4559 & 15585 levels, then they will try to touch 4654 & 15853 levels.

On the other hand, market has a weak support at 4281 & 14816 because the markets may further fall down to 4098 & 14314 levels from this point due to panic selling & profit booking which can act as a strong support.

Intraday Market Technicals for 07th September

Both Nifty & Sensex have become strong at these levels. There are chances that Nifty may open 23 - 24 points down & Sensex may open 81 - 82 points down from where it will try touch 4545 & 15719. There are chances of an intraday swing of around 150 points & 575 points in Nifty & Sensex respectively.

If the markets sustain above 4545 & 15719 levels, then they will try to touch 4572 & 15822 levels.

On the other hand, market has a weak support at 4468 & 15431 because the markets may further fall down to 4418 & 15247 levels from this point due to panic selling & profit booking which can act as a strong support.

US Markets Technicals

Both Dow & Nasdaq have become a bit strong at these levels. The trend for fresh buying positions will continue if the markets trade beyond 13283 & 2566 . There are chances that Dow may move 377 - 378 points up & Nasdaq may move 72 - 73 points up. There are chances of a weekly swing of around 450 points & 100 points in Dow & Nasdaq respectively.

If the markets sustain above 13546 & 2632 levels, then they will try to touch 13735 & 2669 levels.

On the other hand, market has a weak support at 13094 & 2530 because the markets may further fall down to 12831 & 2464 levels from this point due to panic selling & profit booking which can act as a strong support.

US Markets Calls

Buy Agrium Inc. at current levels with a medium-term target of 56.70 & with a stoploss/ average below 42.94.

Derivatives Calls

Buy Nifty Futures at current levels with a target of 4643.50 & with a stoploss/ average below 4322.00.

Buy Tata Motors Futures with a target of 739.65 & with a stoploss/ average below 698.80.

Long Term Delivery Calls

Buy Ambuja Cements at current levels with a target of 195.65.

Buy Amtek Auto at current levels with a target of 616.20.

Medium Term Delivery Calls

Buy MIC Electronics with a medium-term target of 584.55 & with a stoploss/ average below 361.65.

Short Term Delivery Calls

Buy HDFC with a short-term target of 2238.35 & with a stoploss/ average below 2047.40.

It will be my pleasure to build a strong relationship with you.

I look forward for your response & suggestions regarding my research.

by

Vikash Agarwal

Posted by FR at 9:20 AM  

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IMPORTANT DISCLAIMER

Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.