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Market Technicals for the week ending 07th September

Tuesday, September 4, 2007

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

Posted by FR at 8:23 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.