Market View 25 October 2007

CRR RATE HIKE ON CARDS

Yesterday we had mentioned about FED rate cut & today we expect that Rbi may hike CRR rates to control the liquidity flowing in the country. The meeting is on 31 october, 2007. This is the same day when there is FED meeting for rate cut. All these news are already discounted in the current market scenario.

A bigger thing to happen today is the huge F & O outstanding positions to be rollovered today as we need to wait for the statistics that how much wil be the rollover wil happen.

Few days we had mentioned that the nifty rollover wil be around 5400 levels then we had revised our trading buy targets for 5550 which already achieved. But we stay intact that nifty rollover will happen around 5400 nifty spot levels only.

For markets to see fresh buying nifty spot should close above 5550 levels & for sensex 18800 levels. This two levels are very crucial as if markets closes above this levels for 2 or 3 days then we can see new high very soon.

Markets will be highly volatile on account of F & O expiry, traders take care as your stop loss wil be hit & targets will also come. So trade accordingly, Investors no problems

Nifty intra day levels :
Close : 5496
Supports : 5460, 5425 , 5400
Resistances : 5550

We expect today the markets will be highly volatile on account of F & O expiry

Short term Technical Picks :

RELIANCE PACK ALL TIME HITS. NOTHING OFFICIAL ABOUT IT.

Buy Indusind bank @ 84 sl 77 tg 92 - 98 : short term delivery based.

Buy Paradyne info @ 224 sl 210 tg 245 - 260 : short term delivery based.

Buy Hcc ( hindustan construction ) cmp 185 sl 177 tg 195 , 210 short term delivery based.

We would like to continue with our previous recomendations ( pls chk out previous views here on this website for investment ideas ) PLS CLICK HERE TO VIEW ALL http://alliesfin.blogspot.com/2007/10/market-view-19-october-2007.html

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AXIT SHAH
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Good Day , Happy Investing.