Market View 6 September 2007

MAKE OR BREAK

Markets are standing at make or break situations. If sensex manages to close for minimum 2 to 3 days abv 15600 & nifty 4525 then we can see new high. But this situation seems to be tough. Also other view if sensex closes below 15400 & for nifty 4425 then we can see lower lvls.

Currently we are trading for sensex 15500 & for nifty 4475. We have to wait & watch for the levels to be breached either ways. We are advising to use rallies to book profits but not short sell.

We accept that we are not that masters that we buy almost @ bottom prices & sell @ higher prices, we have to trade in between the high & Low prices. With the help of charts & technical analysis we can try the best that we buy @ close to bottom prices & sell @ close to higher prices.

Nifty spot intra day levels :
Close : 4475
Supports : 4460 , 4440 , 4400
Resistances : 4485 , 4495, 4525

If today nifty spot starts trading below 4460 then it could come down to 4425 & even 4400 lvls.

The markets looks range bound with -ve bias & one can use rallies to book profits.

Stock trading calls :

Positional call : sell century textiles cmp 785 sl 810 tg 740


We had advised to book profits in our Auto Stocks call, Engineering stocks & Banking stocks.

Shre precoated steel Book profits @ today circuit rate of 363 recomended @ 250 lvls last week.

Buy IT stocks for invesments : Tcs, Infosys, Satyam, Tech Mahindra. Also one can see good movements in small & mid cap IT & Software Technology stocks.

Good day, Happy investing