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Friday, January 11, 2008

Market Technicals for the week ending 11th January by Vikash Agarwal

Markets Technicals

Both Nifty & Sensex have become strong at these levels. The trend for fresh buying positions will continue if the markets trade beyond 6211 & 20509 . There are chances that Nifty may move 176 - 177 points up & Sensex may move 507 - 508 points up. There are chances of a weekly movement of around 475 points & 1370 points in Nifty & Sensex respectively.

If the markets sustain above 6362 & 20940 levels, then they will try to touch 6450 & 21194 levels.

On the other hand, market has a weak support at 6123 & 20255 because the markets may further fall down to 5972 & 19823 levels from this point due to panic selling & profit booking which can act as a strong support.

Intraday Market Technicals for 11th January

Both Nifty & Sensex has become very weak at these levels. The trend for fresh buying positions will continue if the markets trade beyond 6215 & 20772 . There are chances that Nifty & Sensex may open 58 - 59 points up & 190 - 191 points up. There are chances of an intraday movement of around 405 points & 1350 points in Nifty & Sensex respectively.

If the markets sustain above 6288 & 21015 levels, then they will try to touch 6419 & 21449 levels.

On the other hand, market has a weak support at 6084 & 20339 because the markets may further fall down to 6011 & 20096 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 above 6207.80 with a target of 6388.30 & with a stoploss/ average below 6117.55.

Buy Bank Of India Jan.' 08 Futures at current levels with a target of 434.65 & with a stoploss/ average below 378.25.

Options

Buy IFCI 95 CA Jan.' 08 at current levels with a target of 4.85 & with a strict stoploss below 0.35.

Buy RNRL 240 CA Jan.' 08 at current levels with a target of 8.55 & with a strict stoploss below 4.45.

Long Term Delivery Calls

We strongly recommend a buy on Lanco Infratech at current levels with a target of 1363.00.

We strongly recommend a buy on Maharashtra Seamless at current levels with a target of 806.00.

Medium Term Delivery Calls

Buy Dolat Investments at current levels with a medium-term target of 170.55 .

Short Term Delivery Calls

Buy Gruh Finance at current levels with a short-term target of 208.90 & with a stoploss/ average below 192.20.

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 9:24 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.