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Market Technicals

Tuesday, January 15, 2008

Market Technicals for the week ending 18th January

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 15th January

Nifty has become a bit strong whereas Sensex has become a bit weak at these levels. The trend for fresh buying positions will continue if the markets trade beyond 6207 & 20791 . There are chances that Nifty & Sensex may open 0 - 1 points up & 63 - 64 points up. There are chances of an intraday movement of around 140 points & 645 points in Nifty & Sensex respectively.

If the markets sustain above 6243 & 20921 levels, then they will try to touch 6279 & 21115 levels.

On the other hand, market has a weak support at 6171 & 20598 because the markets may further fall down to 6135 & 20468 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 6283.95 & with a stoploss/ average below 6195.15.

Buy Bank of India Jan.' 08 Futures at current levels with a target of 479.75 & with a stoploss/ average below 402.50.

Options

Buy Essar Oil 340 CA Jan.' 08 at current levels with a target of 15.95 & with a strict stoploss below 1.80.

Buy IFCI 90 CA Jan.' 08 at current levels with a target of 4.15 & with a strict stoploss below 1.45.

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.

Vikash Agarwal

Posted by FR at 11:19 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.