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Market Technicals for the week ending 18th January - by Vikash Agarwal

Monday, January 14, 2008

Market Technicals for the week ending 18th January - by Vikash Agarwal

Indian Markets Technicals

Nifty has become a bit weak whereas Sensex has become a bit strong at these levels. The trend for fresh buying positions will continue if the markets trade beyond 6223 & 20824 . There are chances that Nifty may move 221 - 222 points down & Sensex may move 765 - 766 points up. There are chances of a weekly movement of around 485 points & 1535 points in Nifty & Sensex respectively.

If the markets sustain above 6333 & 21210 levels, then they will try to touch 6467 & 21592 levels.

On the other hand, market has a weak support at 6089 & 20441 because the markets may further fall down to 5978 & 20055 levels from this point due to panic selling & profit booking which can act as a strong support.

Intraday Market Technicals for 14th January

Nifty has become a bit weak whereas Sensex has become a bit strong at these levels. The trend for fresh buying positions will continue if the markets trade beyond 6178 & 20742 . There are chances that Nifty & Sensex may open 21 - 22 points down & 84 - 85 points down. There are chances of an intraday movement of around 220 points & 775 points in Nifty & Sensex respectively.

If the markets sustain above 6245 & 20979 levels, then they will try to touch 6290 & 21131 levels.

On the other hand, market has a weak support at 6133 & 20590 because the markets may further fall down to 6067 & 20353 levels from this point due to panic selling & profit booking which can act as a strong support.

Derivatives Calls

Futures

Buy Nifty Jan.' 08 Futures at current levels with a target of 6291.10 & with a stoploss/ average below 6159.85.

Buy Uniphos Jan.' 08 Futures at current levels with a target of 446.90 & with a stoploss/ average below 375.35.

Options

Buy Essar Oil 340 CA Jan.' 08 at current levels with a target of 16.90 & with a strict stoploss below 1.30.

Buy Bajaj Hind 300 PA Jan.' 08 at current levels with a target of 14.30 & with a strict stoploss below 2.60.

Long Term Delivery Calls

We strongly recommend a buy on M&M at current levels with a target of 1268.90.

We strongly recommend a buy on MRPL at current levels with a target of 221.50.

Medium Term Delivery Calls

Buy Compact Disc at current levels with a medium-term target of 216.60 .

Short Term Delivery Calls

Buy Prime Securities at current levels with a short-term target of 296.55 & with a stoploss/ average below 258.15.

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

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

Regards
Vikash Agarwal

Posted by FR at 9:49 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.