Market View 28 September 2007

NIFTY HITS 5000 MARK

A WEEK FUUL OF RECORDS. SENSEX HITTING 17000 THE PREVIOUS DAY & NIFTY HITTING 5000 MARK YESTERDAY. TECH , BANKING METALS LEADING THE RALLY WHILE WE SAW SOME PROFIT BOOKING IN RELIANCE PACK.

WE ADVISED CLIENTS TOO BOOK PROFITS IN RELIANCE PACK & BUY TECH STOCKS WHEN MARKETS HITS 17000 MARK.

NIFTY INTRA DAY LEVELS :

CLOSE : 5000
SUPPORTS : 4980 , 4965
RESISTANCES : 5030 , 5045

Markets are euphoric at this stage. We advise traders to reduce their positions or keep strict stop losses.

S&P CNX Nifty Cash: closed at 5001 and expected to move up to test 5050 level. The trailing stop loss: the level of 4880 (closing basis) is to be used for positional buy calls. Sensex near term target: 17,300 - 17,400.

Hedging Strategy: Buy Nifty Put against the buying positions as a precautionary measure.

The intraday levels for S&P CNX Nifty Cash: support levels are at 4980 & 4950 where as the resistance level is at 5050.

We would like to Book Profits In TTML , HFCL, RNRL, RPL, IDBI, PETRORNET, ISPAT INDS ETC. ONE CAN BOOK PROFIT IN EUPHORIC STOCKS.

The stocks which look positive in short term are :

Atlanta ( 532759 ) cmp 315 tg 425 - 450

Silverline & Pentamedia graphics Demerger story on cards

IFCI private placement done abv 120 , one can look for short term trading cmp 94 sl 85 tg 120

Repeating again hold Gtl Infra cmp 38 tg 50 sl 35

Whirlpool cmp 40 sl 37 tg 50 , 54

Autoline inds cmp 210 sl 190 tg 300+

All are for short term trading.

If anyone require any trailing stoplosses for any stocks then do put it up on the chat box provided on the right hadn side of the website.

FUNDAMENTAL STOCK : LONG TERM

SHIVA CEMENT ( 532323 ) CMP 9.5 , ACC LTD is having holding this cos & the cos wants to increase stake in this cos. open offer may come for the share holders.

TECH STOCKS STILL LOOK +VE : INFOSYS , TCS, TECH MAHINDRA.

SBI HEADING TOWARDS 2500 MARK CMP 1900

HINDALCO HEADING TOWARDS 185 - 190 MARK CMP 165

TRADING CALLS DURING LIVE MARKET WIL BE UPDATED IN CHAT BOX ON THIS WEBSITE.

GOOD DAY, HAPPY INVESTING