Market View 23 October 2007

P - NOTES SCARE

Thanks to FM ( Lungi ) who helped common people to understand what are P Notes & how FII are being are registered & what are the norms & time frame required. We should all thank to FM who is helping common people to understand the difficult tasks.

MARKET OUTLOOK :BULLISH ,FRESH DEVELOPMENTS ON PNs IN THE FORM OF REGISTRATION FOR PROP BOOKS AS DIRECT FIIs VIEWED AS A BIG POSITIVE FOR THE MARKETS.HAVE A STOCK SPECIFIC APPROACH .
TIME FRAME CONSIDERED SHOULD BE SLIGHTLY LONGER.

Nifty Intra day levels :
Close : 5185
Supports : 5140 , 5080
Resistances : 5220 , 5280

Stocks which look positive in short term are :

OUR ALL TIME HITS RELIANCE PACK

Icici Bank : cmp 1062 sl 1040 tg 1140 short term

Sail : Cmp 214 sl 204 tg 240 short term

Tisco : cmp 837 sl 820 tg 865 , 880

We would like to continue with our previous recomendations ( pls chk out previos views here on this website for investment ideas )

Sensex has good support around 17100 - 17200 levels & nifty around 5100 levels. If all these levels are not broken then we can see sensex to cross 18200 - 18300 & nifty 5400 levels soon.

This expiry we expect nifty to rollover above 5400 spot levels.

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AXIT SHAH
+91 9820191219
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Good Day , Happy Investing.