Indian Markets Technicals

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 04th September

Nifty is a bit strong whereas Sensex have become strong at these levels. There are chances that Nifty may open 2 - 3 points down & Sensex may open 31 - 32 points down from where it will try touch 4492 & 15458. There are chances of an intraday swing of around 75 points & 205 points in Nifty & Sensex respectively.

If the markets sustain above 4492 & 15458 levels, then they will try to touch 4510 & 15494 levels.

On the other hand, market has a weak support at 4454 & 15354 because the markets may further fall down to 4434 & 15286 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 Monsanto Co. at current levels with a medium-term target of 78.75 & with a stoploss/ average below 65.23 .

Derivatives Calls

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

We continue to be bullish on Federal Bank Futures with a target of 382.85 & with a stoploss/ average above 332.90.

We recommended a buy on IFCI Sept.' 07 Futures on 23rd August at 62.10 with a target of 70.90, which was achieved yesterday. We continue to be bullish on IFCI with a further target of 77.50.

Long Term Delivery Calls

Buy United Spirits at current levels with a target of 2443.65.

Buy VSNL at current levels with a target of 779.00.

Medium Term Delivery Calls

Buy MIRC Electronics with a medium-term target of 18.30 & with a stoploss/ average below 16.35.

Short Term Delivery Calls

Buy AMD Metplast with a short-term target of 46.55 & with a stoploss/ average below 40.70.

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

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

By Mr Vikash Agarwal