Calls :-) 5th June, 2007

Nifty Futures in Short-term Downtrend

Nifty Futures touched 4310 level after opening and fell sharply downwards up to 4254 levels. The intraday correction tested 4277 level twice but was not able to breach resistance level of 4285 and finally closed at 4236*. The downward breach of support level 4225 is expected to continue the downtrend with support levels placed at 4210 and 4185. On daily chart, Nifty Futures has closed on the support trendline and the RSI is also at the verge of downward breakout as shown in the chart. The intraday resistance levels are at 4260 & 4285.

Need strength ............. New highs for sensex not so easy

Sensex is showing signs of tiring and needing a break or strength gaining consolidation at lower levels ....So wait and be selective in your stock pickings ....supports at 14300 levels for the Sensex ...

THE MARKETS ARE MOVING IN THE SAME DIRECTION AS WE HINTED ON FRIDAY.

Investment buys Infosys , Tcs, Tech Mahindra & other IT stocks.

Focus to shift from large cap stocks to small & mid caps stocks.

Use rallies to book profits in markets , stock specific activity to continue & use strict stop losses to your trades.

NO NEW RECOMENDATIONS CONTINUE WITH PREVIOUS INVESTMENT IDEAS.

JET AIRWAYS TG 800 ACHIEVED , NIIT AT 960 LVLS TG 1000 INTACT , NAUKRI ( INFO EDGE ) AT 880 ................. WHT ELSE FOR FREE................

NIIT TG 1000 ACHIEVED REVISED TG 1050

AGAIN REPEATING USE RALLIES TO BOOK PROFITS IN MARKETS.
THIS DOES NOT MEAN TO GO SHORT.