Wednesday, October 01, 2008

Oct 01,2008
--------------

NIFTY closes at 3921.20. Sensex closes at 12860.43.

Due to technical snag this blog was not updated for the past two days. However, NIFTY moved as per our expectation. It tested a new low below the previous 3790. News of new bailout package may help markets in short term to move up.

However NIFTY is likely to test another new low below 3715. This is a medium to long term outlook. It need not take place in short term.

4022 is the next resistance level.

If there is a good positive momentum NIFTY could test 4350 level in medium term.

Friday, September 26, 2008

Sep 26,2008
--------------

NIFTY closes at 4110.55. Sensex closes at 13547.18.

No significant technical signal has emerged to predict the direction of the NIFTY.
4243 is the immediate resistance level. Next support lies around 4040. Asian markets trade negative despite good positive close in dow, nasdaq and s&p.

If there is a good positive momentum NIFTY could test 4350 level in medium term.

But if it trades negative consistently a new low below 3790 could be expected in medium term.

Thursday, September 25, 2008

Sep 25,2008
--------------

NIFTY closes at 4161.25. Sensex closes at 13692.52.

No significant technical signal has emerged to predict the direction of the NIFTY.
4243 is the immediate resistance level. Next support lies around 4040. Asian markets donot provide enough clues to predict the direction of the market.

If there is a good positive momentum NIFTY could test 4350 level.

But if it trades negative consistently a new low below 3790 could be expected in medium term.

Wednesday, September 24, 2008

Sep 24,2008
--------------

NIFTY closes at 4126.90. Sensex closes at 13570.31.

As of now NIFTY blindly follows world market. Next support lies around 4040. Asian markets donot provide enough clues to predict the direction of the market.

4157 is the immediate resistance level. If there is a good positive momentum NIFTY could test 4350 level.

But if it trades negative consistently a new low below 3790 could be expected in medium term.

Tuesday, September 23, 2008

Sep 23,2008
--------------

NIFTY closes at 4223.05. Sensex closes at 13994.96.

World market trend is weak due to persistence of doubt over the bailout package and soaring oil prices. Dollar has taken a huge hit and it might depreciate further due to fiscal weakening of US economy, as a result of bail out package. This would help the commodity prices zooming up. Inflationary pressures may emerge again.

If there is a positive momentum markets might test 4350 level. But world market cues don't support it. If Consistent negativity prevails for few more days, NIFTY could even test a new low below 3790.

4183 - immediate support. Immediate resistance - 4320.

Monday, September 22, 2008

Sep 22,2008
--------------

NIFTY closes at 4245.25. Sensex closes at 14042.32.

"A high above 4237 would make NIFTY charts strong, which would help it rally further in the days to come. If the momentum helps it could be tested today itself." - Quote from friday's post. NIFTY moves as per the expectation.

World markets trend helps NIFTY to stay bullish with good technical pattern. A medium term target around 4550 could be achieved with ease, provided the momentum helps.

4183 - immediate support. Immediate resistance - 4320.

Friday, September 19, 2008

Sep 19,2008
--------------

NIFTY closes at 4038.15. Sensex closes at 13315.60.

NIFTY could not break below 3800. A surge after the formation of new low would make charts strong. But the reality bites.

A high above 4237 would make NIFTY charts strong, which would help it rally further in the days to come. If the momentum helps it could be tested today itself. World markets signals bullishness in short term.

3800 immediate support.

Thursday, September 18, 2008

Sep 18,2008
--------------

NIFTY closes at 4008.25. Sensex closes at 13262.90.

NIFTY moves as per our expectation. A new low could be expected today.

Nifty chart is not looking good. At least, a high above 4237 is required, if NIFTY has to reverse the trend in short term. Expect 4096 getting tested in short term.

3913 - immediate support.

Wednesday, September 17, 2008

Sep 17,2008
--------------

NIFTY closes at 4074.90. Sensex closes at 13518.80.

Nifty chart is not looking good. We prefer previous low(3790) getting tested in medium term. At least, a high above 4237 is required, if NIFTY has to reverse the trend in short term. Expect 4096 getting tested in short term.

3913 - immediate support.

Tuesday, September 16, 2008

Monday, September 15, 2008

Sep 15,2008
--------------

NIFTY closes at 4228.45. Sensex closes at 14000.81.

Below 4200, 4159 may be a recognised support. We mentioned a medium term target around 4170 for NIFTY. It might be tested on bearishness.

4133.70 is the next support levels. Lehman Bros. likely to file bankruptcy. It is not a good news. But crude oil below $100 looks nice.

OPEC President Chakib Khelil, called on members to stop producing more than the group's quota - 28.8 million barrels limit - after prices plummeted to (around) $100 per barrel. Current production level is 520,000 barrels.

Stay cautious on the crude front. Don't be too much euphoric on the fall of crude prices.

Friday, September 12, 2008

Sep 12,2008
--------------

NIFTY closes at 4290.30. Sensex closes at 14324.29.

Market is in consolidation phase. Nothing significant has happened yet to suggest a move out of this consolidating phase. World market trends may help NIFTY to move down today.

4133.70 is the next support levels. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.

OPEC President Chakib Khelil, called on members to stop producing more than the group's quota - 28.8 million barrels limit - after prices plummeted to (around) $100 per barrel. Current production level is 520,000 barrels.

Stay cautious on the crude front. Don't be too much euphoric on the fall of crude prices.

Thursday, September 11, 2008

Sep 11,2008
--------------

Expect a dip today.

4281 is the next support level. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.

Wednesday, September 10, 2008

Sep 10,2008
--------------

NIFTY closes at 4468.70. Sensex closes at 14900.76.

Market is in consolidation phase. Nothing significant has happened yet to suggest a move out of this consolidating phase. World market trends may help NIFTY to move down today.

4281 is the next support levels. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.

TCS chart looks good. Medium to long term target 990+.

OPEC President Chakib Khelil, called on members to stop producing more than the group's quota - 28.8 million barrels limit - after prices plummeted to (around) $100 per barrel. Current production level is 520,000 barrels.

Stay cautious on the crude front. Don't be too much euphoric on the fall of crude prices.

Tuesday, September 09, 2008

Sep 09,2008
--------------

NIFTY closes at 4482.30. Sensex closes at 14944.97.

NIFTY did test a high above 4522.40 as we mentioned in previous post. 4466,4281 are the next support levels. First support likely to get broken, if the market follows asian market trends. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.

If positive momentum continues, NIFTY could even test 5130+ levels in medium term.

Monday, September 08, 2008

Sep 08,2008
--------------

NIFTY closes at 4352.30. Sensex closes at 14483.83.

NSG approval euphoria plus world market trends would help NIFTY to surge with good momentum.

4460 to 4470,4533+, 4573 to 4590 will be the next resistance levels on the upperside. 4522.40 would be retested in short to medium term. If positive momentum continues, NIFTY could even test 5130+ levels in medium term.

4281 are the next support levels.

Friday, September 05, 2008

Sep 05,2008
--------------

NIFTY closes at 4447.75. Sensex closes at 14899.10.

Bullish momentum fails to sustain. International markets trend may pull the nifty down inspite of good inflation figure.

4533+, 4573 to 4590 will be the next resistance levels on the upperside. 4522.40 would be retested in short to medium term. If positive momentum continues, NIFTY could even test 5130+ levels in medium term.

4457 and 4281 are the next support levels.

Consistent bearishness might bring down nifty to 4175 levels in medium term.

Wednesday, September 03, 2008

Sep 03,2008
--------------

NIFTY closes at 4504.00. Sensex closes at 15049.86.

"If there is a bullish momentum, NIFTY could test a range around 4450." - quote from yesterday's post. Crude triggered a bullish momentum yesterday, helping NIFTY to move up. It even surpassed the target we mentioned to move up to next resistance level.

4533+, 4573 to 4590 will be the next resistance levels on the upperside. Chart patterns looks good. Yesterday's high 4522.40 would be retested. If this positive momentum continues, NIFTY could even test 5130+ levels in medium term.

4457 and 4281 are the next support levels.

If there is a bearish onslaught 4175 is possible on the lower side in medium term.

Tuesday, September 02, 2008

Sep 02,2008
--------------

NIFTY closes at 4348.65. Sensex closes at 14498.51.

NIFTY stays trendless. A high above 4365 may help upward momentum. 4280 is the support level.

If there is a bullish momentum, NIFTY could test a range around 4450. If there is a bearishness 4175 is possible on the lower side. These levels are medium term targets.

4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.

Monday, September 01, 2008

Sep 01,2008
--------------

NIFTY closes at 4360.00. Sensex closes at 14564.53.

We quoted, "Short to medium term target is a high above 4364." in friday post. NIFTY tested this target in a single day. Now there is no indication of any trend.

International markets are weak. NIFTY might just follow the same. If there is a bullish momentum, NIFTY could test a range around 4450. If there is a bearishness 4175 is possible on the lower side. These levels are medium term targets.

4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside. 4320 is the initial support level.

Friday, August 29, 2008

Aug 29,2008
--------------

NIFTY closes at 4214.00. Sensex closes at 14048.34.

Inflation and international markets trend likely to trigger a sharp up move. Short to medium term target is a high above 4364. 4450 will be the next target on the upper side. Nifty testing a low below 4195 is desirable.

4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.

Thursday, August 28, 2008

Aug 28,2008
--------------

NIFTY closes at 4292.10. Sensex closes at 14296.79.

Don't take any long position in NIFTY unless yesterday's high around 4364 gets broken. NIFTY moved as per our expectation. A low below 4283 could be expected in short to medium term.

4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.

Wednesday, August 27, 2008

Aug 27,2008
--------------

NIFTY closes at 4337.50. Sensex closes at 14482.22.

Indecisiveness in NIFTY stays. Yet to set a new trend. A low below 4285 is possible. It is not surprising if this level is tested. A high above 4345 is desirable. It may even help upward momentum.

4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.

Tuesday, August 26, 2008

Aug 26,2008
--------------

NIFTY closes at 4335.35. Sensex closes at 14450.35.

NIFTY signals indecisiveness inspite of pull back from crucial support level. Weak international markets might trigger a plunge.

4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.

Monday, August 25, 2008

Aug 25,2008
--------------

NIFTY closes at 4327.45. Sensex closes at 14401.49.

NIFTY bounced back exactly few points above the strong support level near 4240. It looks like a trend reversal. Supportive global cues with fall in crude prices would help it moving up in today's trade.

4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.

Friday, August 22, 2008

Aug 22,2008
--------------

NIFTY closes at 4283.85. Sensex closes at 14243.73.

Chart looks week. NIFTY likely to witness more pain. Crude oil, inflation and other negative factors likely to have impact on the market. 4230 to 4240 stays as the support region, as of now. This support likely to get broken. Next support lies around 4120 to 4133.

Thursday, August 21, 2008

Aug 21,2008
--------------

NIFTY closes at 4415.75. Sensex closes at 14678.23.

Nothing significant has happened in NIFTY charts that could indicate any bullishness.
NIFTY has to cross first hurdle around 4460 to gain some momentum. A positive close is needed if it has to reverse the trend.

4230 to 4240 stays as the support region, as of now.

Wednesday, August 20, 2008

Aug 20,2008
--------------

NIFTY closes at 4368.25. Sensex closes at 14543.73.

Nothing significant has happened in NIFTY charts that could indicate any bullishness. Lower tops and lower highs indicate negative sentiment prevailing in the market. Unless any trend reversal happens market likely to remain bearish.

4230 to 4240 stays as the support region, as of now.

Thursday, August 14, 2008

Aug 18,2008
--------------

NIFTY closes at 4430.70. Sensex closes at 14724.18.

"A low below 4450 is imminent in short to medium term." A quote from friday post. As per our expectation NIFTY tested this level.

Short term chart is not encouraging. Friday's close ensures a dip near 4401. But the time factor remains unpredictable. Bearish momentum would help the market to move near 4240 support level.

But the asian markets bullishness may help it in short term. Good momentum would help Nifty to test 4660 to 4695 levels in medium term. Only consolation is - the long term chart has not turned bearish. If NIFTY's chart pattern turns bullish 5200+ will be the medium to long term target. But as of now it remains indecisive.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.

Wednesday, August 13, 2008

Aug 13,2008
--------------

NIFTY closes at 4552.25. Sensex closes at 15212.13.

Don't trade until a trend gets confirmed. A low close or a low below 4464 will make the charts vulnerable.

A bullish momentum would help - Short term target - 4660 plus.

A low below A low below 4450 is imminent in short to medium term. However, it is difficult to predict the time factor.

If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.

4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.

Tuesday, August 12, 2008

Aug 12,2008
--------------

NIFTY closes at 4620.40. Sensex closes at 15503.92.

NIFTY's chart support a bullish trend. Short term target - 4660 plus. Trend in Asian markets is the only threat. Long term chart looks rosy. 5200+ would be the next upside target - Long term.

A low below A low below 4450 is imminent in short to medium term. However, it is difficult to predict the time factor.

If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.

4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.

Monday, August 11, 2008

Aug 11,2008
--------------

NIFTY closes at 4529.50. Sensex closes at 15167.82.

NIFTY remains indecisive. Positive uptick in asian markets may help it to turn bullish. Long term chart looks rosy. Bullish momentum would help NIFTY to test 4630+ in short term. 5200+ would be the next upside target.

As mentioned in Friday's post NIFTY tested 4495 and went below that level. A low below A low below 4450 is imminent in short to medium term. However, it is difficult to predict the time factor. A high above 4580 would help further momentum.

If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.

4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.

Friday, August 08, 2008

Aug 7,2008
--------------

NIFTY closes at 4523.85. Sensex closes at 15117.25.

NIFTY yet to set a new trend. Long term chart looks rosy. Bullish momentum would help NIFTY to test 4630+ in short term. 5200+ would be the next upside target. A low below 4495 is imminent and it could be expected in short term. A high above yesterday's high - 4580 - would help further momentum.

If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.

4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.

Thursday, August 07, 2008

Aug 6,2008
--------------

NIFTY closes at 4517.55. Sensex closes at 15073.54.

NIFTY has met all the targets mentioned here. A close above 4500 plus and intraday high above 4600 were our targets. Both the targets were achieved in the last two sessions.

Today's session might be a trend setting session. It would be better to avoid trading. Chart pattern looks good. But it should be supported by the sessions to come. Bullish momentum would help NIFTY to test 4630+ in short term. 5200+ would be the next upside target. This is a medium to long term target, provided the bullish momentum prevails.

If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.

Monday, August 04, 2008

Aug 5,2008
--------------

NIFTY closes at 4395.35. Sensex closes at 14577.87.

Crude tests $120. It is a good news. Crude may slide down further. If this helps sentimentally, NIFTY would close above 4500 as said earlier. It is a medium term target. But before that NIFTY should breach the resistance lies around 4453 to 4463.

If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.

NIFTY might test 4600+ levels in medium term,if there is a good momentum.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.

Friday, August 01, 2008

Aug 1,2008
--------------

NIFTY closes at 4332.95. Sensex closes at 14355.75.

Asian markets are down. Inspite of good chart patternsl, external factors might infuence the markets.

NIFTY got a technical confirmation for 4365 and 4410 plus. Similarly, NIFTY might test 4100 if there is any bearish onslaught.

NIFTY would close above 4505. It is a medium to long term target close.

Next support level lies around 4135 to 4120.

NIFTY might test 4600+ levels in medium term,if there is a good momentum.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.

Thursday, July 31, 2008

July 31, 2008
--------------

NIFTY closes at 4313.55. Sensex closes at 14287.21.

NIFTY got a technical confirmation for 4365. Similarly, NIFTY might test 4100 if there is any bearish onslaught.

NIFTY would close above 4505. It is a medium to long term target close.

Next support level lies around 4135 to 4120.

NIFTY might test 4600+ levels in medium term,if there is a good momentum.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.

Tuesday, July 29, 2008

July 29, 2008
--------------

NIFTY closes at 4332.10. Sensex closes at 14349.11.

NIFTY got a technical confirmation for 4365. So, this level should be tested in short to medium term. Buy in dips. Sell at 4365.

NIFTY would close above 4505. It is a medium term target close.

Beyond it there is no technically significant indications are available. Fall in international markets may help NIFTY to fall. If NIFTY tests 4247 level, bearishness could be expected.

Next support level lies around 4200 to 4215.

NIFTY might test 4600+ levels in medium term,if there is a good momentum.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.

Monday, July 28, 2008

July 28, 2008
--------------

NIFTY closes at 4311.85. Sensex closes at 14274.94.

Just watch the market. There is no clear cut technical indication for short term. However, bomb blasts might have some influence in the opening.

As mentioned in previous post NIFTY tested 4370. If NIFTY tests 4247 level, bearishness could be expected.

Next support level lies around 4200 to 4215.

NIFTY might test 4600+ levels in medium term,if there is a good momentum.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.

Friday, July 25, 2008

July 25, 2008
--------------

NIFTY closes at 4433.55.

"4535 is medium term target for NIFTY on the upper side." This is a quote from yesterday's post. NIFTY tested this target and retraced.

As of now, there is no significant technical trend. Inflation moderating for the first time is a good news. But crash in the asian markets don't support the momentum.
NIFTY is likely to test 4370 levels. Although the time frame is unpredictable.

Next support level lies around 4200 to 4215.

NIFTY might test 4600+ levels in medium term,if there is a good momentum.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.

Thursday, July 24, 2008

July 24, 2008
--------------

NIFTY moves as per our expectation. Sound technicals backed by sound fundamentals sound well for the market. NIFTY might test 4600+ levels in medium term. Buy in all dips. Maintain it atleast until NIFTY reaches 4500+ levlels.

Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.

According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.

4535 is medium term target for NIFTY on the upper side.

Wednesday, July 23, 2008

July 23, 2008
--------------

NIFTY closes at 4240.10. Sensex closes at 14104.20.

NIFTY looks excellent. NIFTY might test 4600+ levels in medium term.

We mentioned in Yesterday post that NIFTY would test 4200+ levels. NIFTY closed well above that signifying the bullishness to follow. Political events too go well with the technical charts.

Other markets too have some influence on our markets.

Crude's correction augurs well. Result season will have some impact.

4535 is medium term target for NIFTY on the upper side.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then the recovery would take more time.

Tuesday, July 22, 2008

July 22, 2008
--------------

NIFTY closes at 4159.50. Sensex closes at 13850.04.

NIFTY chart pattern looks good. However, further momentum could be derived from the political events to take place. Present chart pattern ensures 4200+ levels tested. If Government sails thru smoothly, this level can be expected today itself.

NIFTY will move up or down based on fundamental triggers in the near term rather than technical charts. Political situation might influence markets as of now.

Other markets too have some influence on our markets.

Technically NIFTY should cross 4210 in medium term.

Crude's correction augurs well. Result season will have some impact.

4535 is medium term target for NIFTY on the upper side.

Investors, who are averse to risk avoid trading at least for 20 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then the recovery would take more time.

Monday, July 21, 2008

July 21, 2008
--------------

NIFTY closes at 4098.

NIFTY will move up or down based on fundamental triggers in the near term rather than technical charts. Political situation might influence markets as of now. Stay away from markets atleast until confidence motion gets concluded.

Other markets too have some influence on our markets.

Technically NIFTY should cross 4210 in medium term.

Crude's correction augurs well. Result season will have some impact.

4535 is medium term target for NIFTY on the upper side.

Investors, who are averse to risk avoid trading at least for 25 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then the recovery would take more time.

Friday, July 18, 2008

July 17, 2008
--------------

NIFTY closes at 3947.2.

It has been mentioned consistently that 3800 would be tested. NIFTY tested this level as per our expectation. Similarly we mentioned $980 to $1000 as Gold's target.
Gold tested this level two days back.

NIFTY will move up or down based on fundamental triggers in the near term rather than technical charts. Other markets too have some influence on our markets. No trend for this morning.

Crude's correction augurs well. Result season will have some impact. Survival of this government, inflation, other economic data, International markets, etc will have some impact.

4054.01 to 4061.17 - Initial resistance Zone. This is the initial hurdle. Next resistance stays near 4400 levels.

4535 is medium term target for NIFTY on the upper side.

Investors, who are averse to risk avoid trading at least for 25 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then the recovery would take more time.

Thursday, July 17, 2008

July 16, 2008
--------------

NIFTY closes at 3816.70.

It has been mentioned consistently that 3800 would be tested. NIFTY tested this level as per our expectation.

NIFTY will move up or down based on fundamental triggers in the near term rather than technical charts. Other markets too have some influence on our markets.

If crude corrects further expect our markets to move up. Result season will have some impact. Survival of this government, inflation, other economic data, International markets, etc will have some impact.

4054.01 to 4061.17 - Initial resistance Zone. This is the initial hurdle. Next resistance stays near 4400 levels.

4535 is medium term target for NIFTY on the upper side.

Investors, who are averse to risk avoid trading at least for 25 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then the recovery would take more time.

Wednesday, July 16, 2008

July 15, 2008
--------------

NIFTY closes at 3861.10.

NIFTY moved as per the expectation. NIFTY would surely test yesterday's low near 3836 in future. Time frame is unpredictable.

NIFTY will move up or down based on fundamental triggers in the near term rather than technical charts. Other markets too have some influence on our markets.

If crude corrects further expect our markets to move up. Result season will have some impact. Survival of this government, inflation, other economic data, International markets, etc will have some impact.

4054.01 to 4061.17 - Initial resistance Zone. This is the initial hurdle. Next resistance stays near 4400 levels.

4535 is medium term target for NIFTY on the upper side.

Investors, who are averse to risk avoid trading at least for 25 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then the recovery would take more time.

Tuesday, July 15, 2008

July 15, 2008
--------------

NIFTY closes at 4039.7. SENSEX closes at 13,330.51.

A technical snag has prevented us from posting yesterday.

Yesterday's trading has no relevance. Though it seems to suggest no trend. Plunge in the asian markets might have some effect. Get ready for the next bearish onslaught.

When NIFTY breaks 3990.90 it would weaken further.

3962 to 3972 is the immediate support level.

4220 - Initial resistance Zone. This is the initial hurdle. Next resistance stays near 4400 levels.

4535 is medium term target for NIFTY on the upper side.

Investors, who are averse to risk avoid trading at least for 30 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then the recovery would take more time.

TCS displayed good chart pattern 4 sessions back. We mentioned the same in our post. But the pattern has worked well, since it moved up sharply to 943 before taking a huge plunge. Wise traders could have made profits. The plunge has made its chart look vulnerable.

Friday, July 11, 2008

July 11, 2008
--------------

NIFTY closes at 4162.20. SENSEX closes at 13,926.24.

NIFTY tested previous session's high as expected and it couldn't move up against the resistance level. NIFTY might set a new trend today. It is a wait and watch day.

Yesterday's high should be convincingly broken. Infosys has provided a decent guidance. Expect a decent rally in IT pack. Good momentum could make NIFTY move above 4240.

4190 to 4220 - Initial resistance Zone. This is the initial hurdle. Next resistance stays near 4400 levels.

4535 is medium term target for NIFTY on the upper side.

Investors, who are averse to risk avoid trading at least for 30 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then we're in a bear market.

Ranbaxy still remains a long term bet. Target 700+.

If there is a good momentum in IT stocks, expect TCS to move up.

Thursday, July 10, 2008

July 10, 2008
------------

NIFTY closes at 4157.10. SENSEX closes at 13,964.26.

As mentioned in previous post NIFTY tested 4130 levels yesterday. NIFTY chart patterns are looking good. But international market trend doesn't lend any support for its further up move. A high above 4165 could be expected in short term.

4190 to 4220 - Initial resistance Zone.

Investors, who are averse to risk avoid trading at least for 30 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then we're in a bear market.

Ranbaxy still remains a long term bet. Target 700+.

Short term chart for TCS looks excellent.

Wednesday, July 09, 2008

July 9, 2008
------------

NIFTY closes at 3988.55. SENSEX closes at 13,349.65.

"International crude prices or currencies would set a new trend in few trading days. They might set the next short to medium term trend. New trend would have an influence on the equity markets." This is a quote from yesterday's post. Crude seems to have set the new trend. It is likely to have impact on our market trend.

Left's withdrawal of support, Samajwadi lending support, slight cooling down of crude,etc. likely to bring some cheers to markets in short term. As mentioned in previous post NIFTY might test 4130 levels in short term.

4045 to 4060 - Initial resistance Zone.

Investors, who are averse to risk avoid trading at least for 35 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then we're in a bear market.

Tuesday, July 08, 2008

July 8, 2008
------------

NIFTY closes at 4030. SENSEX closes at 13,525.99.

Bull operators trying to create a good chart pattern. But fundamental factors and international market trends don't go well. Yesterday's pattern would help NIFTY to test 4130 levels, when there is a positive momentum, in short term.

Investors, who are averse to risk avoid trading at least for 35 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then we're in a bear market.

International crude prices or currencies would set a new trend in few trading days. They might set the next short to medium term trend. New trend would have an influence on the equity markets.

Friday, July 04, 2008

July 4, 2008
------------

NIFTY closes at 3925.75.

Investors, who are averse to risk avoid trading at least for 40 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then we're in a bear market.

International crude prices or currencies would set a new trend in 2 trading days. They might set the next short to medium term trend. New trend would have an influence on the equity markets.

Unless US Fed announces its intention to raise interest rates, all world markets would be in doldrums. It is the only trigger that could reverse the rising crude prices in long term.

Long term investors could look into midcap Public sector banks which are available at very steep discount to book value. Most of them trade at 50% to 70% of the book value. So investments in such stocks would fetch 100% rate of rate of return in two years time frame. This is a pessimistic view. In optimistic scenario 100% rate of return could be expected within a year.

Thursday, July 03, 2008

July 3, 2008
------------

Due to technical snag, we couldn't post for the past 3 days. Problems are to be fixed sooner or later. May be you can expect a new post tomorrow.

Investors, who are averse to risk avoid trading at least for 40 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then we're in a bear market.

International crude prices or currencies would set a new trend in 2 trading days. They might set the next short to medium term trend.

Friday, June 27, 2008

June 27,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4315.85. BSE SENSEX Closes at 14,421.82.

NIFTY had a good session yesterday and the charts signals trend reversal pattern.
Yesterday's chart ensures at least 4365 level in NIFTY. But technical analysis need not always work well in this chaotic market situation. World markets and local sensitive news could wrong the technical patterns. Success rate for technical analysis is weak in the present scenario.

4535, 4470, 4680, 5060, 5305 and 6250 are the major levels to be tested on the upper side, similarly.

4400 to 4435 is the first resistance level to be broken.

People who are averse to risk taking are advised not to venture into this market at least for next 45 days. High volatility would be a dampener to people who trade without discipline.

Long term investors could find opportunity to pick their stocks at bottom levels. NIFTY or Sensex doesn't have any leadership quality or uniqueness. Most of the times they react to the international markets rather than corporate fundamentals.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them systematically up to 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 + (Medium to Long term view).

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

No significant Support levels left.

Resistance levels stay near 4610, 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Thursday, June 26, 2008

June 26,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4191.1. BSE SENSEX Closes at 14,106.58.

4100 is the level we've been mentioning consistently that it would be tested. NIFTY did test this level as per the expectation and bounced back from this level.

4535, 4470, 4680, 5060, 5305 and 6250 are the major levels to be tested on the upper side, similarly.

4400 to 4435 is the first resistance level to be broken.

People who are averse to risk taking are advised not to venture into this market at least for next 46 days. High volatility would be a dampener to people who trade without discipline.

Long term investors could find opportunity to pick their stocks at bottom levels. NIFTY or Sensex doesn't have any leadership quality or uniqueness. Most of the times they react to the international markets rather than corporate fundamentals.

We reiterate our view - World markets, politics and macro economic factors have more influence than the technical in the present market scenario. So trade cautiously.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them systematically up to 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 + (Medium to Long term view).

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

No significant Support levels left.

Resistance levels stay near 4610, 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Wednesday, June 25, 2008

June 25,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4191.1. BSE SENSEX Closes at 14,106.58.

Bears have complete control over the market and their onslaught continues. 4100 could be tested soon.

People who are averse to risk taking are advised not to venture into this market at least for next 47 days. High volatility would be a dampener to people who trade without discipline.

Long term investors could find opportunity to pick their stocks at bottom levels. NIFTY or Sensex doesn't have any leadership quality or uniqueness. Most of the times they react to the international markets rather than corporate fundamentals.

We reiterate our view - World markets, politics and macro economic factors have more influence than the technical in the present market scenario. So trade cautiously.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them systematically up to 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 + (Medium to Long term view).

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

No significant Support levels left.

Resistance levels stay near 4610, 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Tuesday, June 24, 2008

June 24,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4266.40. BSE SENSEX Closes at 14,293.32.

This is a best technical level for technical retracement. If yesterday's low is maintained and NIFTY moves up with momentum, yesterday's low would serve as the bottom for ever. But fundamentals should support it. Else atleast 4100 levels would be tested.

People who are averse to risk taking are advised not to venture into this market at least for next 48 days. High volatility would be a dampener to people who trade without discipline.

Long term investors could find opportunity to pick their stocks at bottom levels. NIFTY or Sensex doesn't have any leadership quality or uniqueness. Most of the times they react to the international markets rather than corporate fundamentals.

We reiterate our view - World markets, politics and macro economic factors have more influence than the technical in the present market scenario. So trade cautiously.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them systematically up to 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 + (Medium to Long term view).

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

No significant Support levels left.

Resistance levels stay near 4610, 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Monday, June 23, 2008

June 23,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4347.55. BSE SENSEX Closes at 14571.29.

"People who are averse to risk taking are advised not to venture into this market at least for next 50 days. High volatility would be a dampener to people who trade without discipline." This is the first comment in our previous post. We still maintain our recommendation.

Long term investors could find opportunity to pick their stocks at bottom levels. NIFTY or Sensex doesn't have any leadership quality or uniqueness. Most of the times they react to the international markets rather than corporate fundamentals.

We reiterate our view - World markets, politics and macro economic factors have more influence than the technical in the present market scenario. So trade cautiously.

We are mentioning this level for past few weeks - 4300 to 4250 level is hard to break support level. If it breaks, in the extreme scenario of bearish onslaught,NIFTY could even test 4100 levels - Medium term outlook.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them systematically up to 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 + (Medium to Long term view).

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

No significant Support levels left.

Resistance levels stay near 4610, 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Friday, June 20, 2008

June 20,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4504.25. BSE SENSEX Closes at 15,087.99.

People who are averse to risk taking are advised not to venture into this market at least for next 50 days. High volatility would be a dampener to people who trade without discipline.

Long term investors could find opportunity to pick their stocks at bottom levels. NIFTY or Sensex doesn't have any leadership quality or uniqueness. Most of the times they react to the international markets rather than corporate fundamentals.

We reiterate our view - World markets, politics and macro economic factors have more influence than the technicals in the present market scenario. So trade cautiously.

We are mentioning this level for past few weeks - NIFTY might test 4471 level in case of any dip. This level would be tested shortly. 4300 to 4250 level is hard to break support level. If it breaks, in the extreme scenario of bearish onslaught,NIFTY could even test 4100 levels - Medium term outlook.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them systematically up to 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 + (Medium to Long term view).

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

No significant Support levels left.

Resistance levels stay near 4610, 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Thursday, June 19, 2008

June 19,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4653. BSE SENSEX Closes at 15,696.90.

NIFTY moved near 4680 as expected. But the absence of positive momentum helped it correct in the later part of the day. European markets fueled the fall.

Provided a good momentum, NIFTY might test 4740 to 4750 level. It is the level at which profit booking could be resorted. We reiterate our view - World markets and macro economic factors have more influence than the technicals in the present market scenario. So trade cautiously.

NIFTY might test 4471 level in case of any dip (Short to medium term). 4300 to 4250 level is hard to break support level. If it breaks, in the extreme scenario of bearish onslaught,NIFTY could even test 4100 levels - Medium term outlook.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them systematically up to 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 +. Time frame - unknown. But it is better to strike, when the iron is hot. This is a long term call.

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

Support level 4527.

Resistance levels stay near 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Wednesday, June 18, 2008

June 18,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4653. BSE SENSEX Closes at 15,696.90.

"If there is a good momentum, NIFTY could test the resistance zone at 4660 to 4680 in short term" - A quote from yesterday's post. NIFTY tested a high of 4664.05 yesterday. So, 4680 levels would be tested sooner or later.

Provided further momentum, NIFTY might test 4740 to 4750 level. It is the level at which profit booking could be resorted. World markets and macro economic factors have more influence than the technicals in the present market scenario. so trade cautiously.

NIFTY might test 4471 level in case of any dip. In the extreme scenario of bearish onslaught,NIFTY could even test 4100 levels - Medium term outlook.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 +. Time frame - unknown. But it is better to strike, when the iron is hot. This is a long term call.

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

Support level 4527.

Resistance levels stay near 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Tuesday, June 17, 2008

June 17,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4572.50. BSE SENSEX Closes at 15,395.82.

NIFTY moved up with vigor as mentioned yesterday. However, it cooled little bit at the end of the trading session. If there is a good momentum, NIFTY could test the resistance zone at 4660 to 4680 in short term. But world markets and macro economic factors have more influence than the technicals in the present market scenario.

A high above 4739.3 is inevitable in short to medium term.

NIFTY might test 4471 level in case of any dip. In the extreme scenario of bearish onslaught,NIFTY could even test 4100 levels - Medium term outlook.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 +. Time frame - unknown. But it is better to strike, when the iron is hot. This is a long term call.

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

Support level 4527.

Resistance levels stay near 4663, 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Friday, June 13, 2008

June 16,2008
------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4517.10. BSE SENSEX Closes at 15,189.62.

After many many sessions,NIFTY charts provide some clues for trend reversal. Provided the good momentum, NIFTY might move up with vigour.

NIFTY might test 4471 level in case of any dip. In the extreme scenario of bearish onslaught,NIFTY could even test 4100 levels - Medium term outlook.

A high above 4739.3 is inevitable in short to medium term.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

Buy Ranbaxy in dips. Technical confirmation - Will test Rs.700 +. Time frame - unknown. But it is better to strike, when the iron is hot. This is a long term call.

Liberalization of ECB norms and upside revision of FII limits in Bond market - likely to have a positive impact on Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

Resistance levels stay near 4663, 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

An interesting quote:
In the middle of difficulty lies opportunity
-- Albert Einstein, Theoretical Physicist

Tuesday, June 10, 2008

June 10,2008
------------

A trend is yet to set. Fundamentals influence more than technicals.

At present Markets are hovering around key technicals. NIFTY closed well above 4461 level, where long term support lies.

Monday, June 09, 2008

June 9, 2008

No comments.

Friday, June 06, 2008

June 6,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4676.95. BSE SENSEX Closes at 15,769.72.

Nothing significant has happened. Yesterday's rally was just a pullback because of too many shorts built up. Market is oversold. So, the market had a small rally yesterday. Atleast a high above 4739.3 is required for further upward momentum. Still January low (4430 to 4500 level) stays as the only support level left.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

Liberalization of ECB norms and Bond market upside revision of limits likely to have a positive impact for Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

Resistance levels stay near 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Satyam 540 target - acheived

Thursday, June 05, 2008

June 4,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4585.60. BSE SENSEX Closes at 15,514.79.

Alas NIFTY breaches 4600 support level. January low stay as the only support level left. Market is in a panic mode. Fear of inflation and bearish chart patterns helped the market to plunge steeply.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan from this level would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

Liberalization of ECB norms and Bond market upside revision of limits likely to have a positive impact for Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

Resistance levels stay near 4787, 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Tuesday, June 03, 2008

June 3,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4739.60. BSE SENSEX Closes at 16,063.18.

"A high above 4957.4 or a low below 4801.90 is likely to be technical trigger for a new trend." "a low below 4720 could be expected if there is a deep correction."
These are the quotes from previous post. NIFTY has proved the same yesterday.

540 is the mentioned target for SATYAM computers. Satyam computers breached this target yesterday.


Next support levels for NIFTY stays near 4600-4630 level. This is a strong support level. Below this January low would act as the next support level.

Liberalization of ECB norms and Bond market upside revision of limits likely to have a positive impact for Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan from this level would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

NIFTY might test 5300+ levels within 9 trading sessions, if there is a good momentum.

4610 to 4630 act as support levels.

Resistance levels stay near 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level

Monday, June 02, 2008

June 2,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4870.10. BSE SENSEX Closes at 16,415.57.

Market is yet to set a clear trend. It seems markets are waiting for a trigger to set a new trend. Petro prices seem to be the trigger awaited but it has been postponed for another week.

Liberalization of ECB norms and Bond market upside revision of limits likely to have a positive impact for Indian markets in medium to long term. This is a fundamental perspective. How far will it have an impact in the present scenario is still a secret.

These measures would improve the Forex inflows, which would help rupee to appreciate, naturally encouraging FIIs to put their money in Indian markets. However, it would affect exporters and IT sector in medium to long term. This is a short sighted measure to improve economy and control inflation.

A high above 4957.4 or a low below 4801.90 is likely to be technical trigger for a new trend. Wait and watch until anything happens.

Avoid fresh longs - short term traders. Else - strict stop loss.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan from this level would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

NIFTY might test 5300+ levels within 9 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength in the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

4610 to 4630 act as support levels.

Resistance levels stay near 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM, Infosys and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Friday, May 30, 2008

May 29,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4918.35. BSE SENSEX Closes at 16,525.37.

Avoid fresh longs - short term traders. Else - strict stop loss.

NIFTY chart pattern doesn't look rosy. NIFTY support level stays near 4600. So, be careful.Important support level was broken yesterday.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan from this level would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

NIFTY might test 5300+ levels within 10 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength in the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out. A low below 5015 could be expected in short to medium term.

4610 to 4630 act as support levels.

Resistance levels stay near 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Thursday, May 29, 2008

May 29,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4918.35. BSE SENSEX Closes at 16,525.37.

It seems like a bounce back, but yet to get a confirmation. NIFTY turned back exactly at the support level. So, the support at 4835 remains unbroken. It is a consolation.

We reiterate our previous view. NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan from this level would yield good returns for positional traders. Buy in all dips. Sell them all at 5060.

NIFTY might test 5300+ levels within 10 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength in the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out. A low below 5015 could be expected in short to medium term.

4835, 4610 to 4630 act as support levels.

Resistance levels stay near 4982 and 5210.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
INFOSYS - Rs.2290
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Wednesday, May 28, 2008

May 23,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4859.80. BSE SENSEX Closes at 16,275.59.

Lower tops and lower bottoms for the past few trading sessions don't augur well with NIFTY. NIFTY might test 4820 levels. But this is a good buying opportunity for medium to long term investors.

NIFTY is likely to test 5060 levels in medium term. So, a systematic investment plan from this level would yield a good returns for positional traders. Buy in all dips. Sell them all at 5060.

NIFTY might test 5300+ levels within 11 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength in the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out. A low below 5015 could be expected in short to medium term.

4835, 4610 to 4630 act as support levels.

Resistance levels stay near 5200. So, if there is a upward momentum NIFTY might move up with vigor.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Monday, May 26, 2008

May 27,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

Pullback likely.

Thursday, May 22, 2008

May 23,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5025.45. BSE SENSEX Closes at 16,907.11.

Lower tops and lower bottoms for the past few trading sessions don't augur well with NIFTY. But NIFTY stays near support levels.Trend in world markets might have some influence in our markets for some time.

NIFTY might test 5300+ levels within 13 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out. A low below 5015 could be expected in short to medium term.

4990, 4835, 4610 to 4630 act as support levels.

Resistance levels stay near 5090 and 5200. So, if there is a upward momentum NIFTY might move up with vigor.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Wednesday, May 21, 2008

May 21,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5104.95. BSE SENSEX Closes at 17,230.18.

No comments on further trend in NIFTY. NIFTY breached 5077.80, which we mentioned yesterday. So, its strength has reduced little bit. NIFTY is likely to test 5060 levels in short to medium term. Trend in world markets might have some influence in our markets for some time.

NIFTY might test 5300+ levels within 15 trading sessions, if there is a good momentum.

Similarly, a low below 4720 could be expected if there is a deep correction.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

4990, 4835, 4610 to 4630 act as support levels.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Charts of international gold looks good. Gold might test $980 - $1000 per troy ounce in medium to long term.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Tuesday, May 20, 2008

May 20,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5157.7. BSE SENSEX Closes at 17,434.94.

NIFTY moved up as per our expectation. Charts indicate sharp volatility in short term. If NIFTY doesn't test 5077.80, it might move up to test 5240 levels in short term. 5210 levels may be the next crucial resistance level on the upper side. If NIFTY moves up beyond 5274 in today's trade profit booking could be resorted.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target. Similarly, a low below 4720 could be expected if there is a deep correction.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

5077.80, 4990, 4835, 4610 to 4630 act as support levels.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Friday, May 16, 2008

May 16,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4957.8. BSE SENSEX Closes at 16,752.86.

NIFTY likely to move up or down sharply in short term. Charts indicate such pattern. Momentum is likely to dominate. 5160 and 5210 levels may be the next crucial levels on the upper side.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target. Similarly, a low below 4720 could be expected in short to medium term.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

5209.80 - Resistance levels.

4875, 4610 to 4630 act as support levels.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Wednesday, May 14, 2008

May 14,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4957.8. BSE SENSEX Closes at 16,752.86.

NIFTY charts are not bullish. Further downward momentum might make it test support levels.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target. Similarly, a low below 4720 could be expected in short to medium term.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

5095.75, 5209.80 - Resistance levels.

4875, 4610 to 4630 act as support levels.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Monday, May 12, 2008

May 13,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 4982.60. BSE SENSEX Closes at 16,737.07.

We expected a new trend to emerge yesterday. However, it is yet to emerge. So,this is a wait & watch game. No adventurous trade is encouraged at this level.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target. Similarly, a low below 4720 could be expected in short to medium term.

Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

5095.75, 5209.80 - Resistance levels.

4875, 4610 to 4630 act as support levels.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Tuesday, May 06, 2008

May 6,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5192.25. BSE SENSEX Closes at 17490.90.

NIFTY charts display no trend. NIFTY is likely to test 5300 levels as well. It is a medium to long term target. 5147 will be tested in short to medium term, if there is a significant down trend.

NIFTY charts are looking good. Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for now. If any longs are to be adventured, it should have a strict stop loss. For intraday traders or jobbers anything beyond 5345 could be used to book profits or short.

NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.

5368 level should be breached convincingly to confirm further bullishness.

5077,4875, 4610 to 4630 act as support levels.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Monday, May 05, 2008

May 5,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5228.2. BSE SENSEX Closes at 17600.12.

NIFTY closes above 200 day SMA again. NIFTY closed above 5200 levels on expected lines. Our first target level is acheived on Friday. NIFTY is likely to test 5300 levels as well. It is a medium to long term target.

NIFTY charts are looking good. Strength of the charts convince that Indian equity market is still in long term bullish zone. Although, possible corrections are not denied, new bottom below January lows are ruled out.

If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for now. If any longs are to be adventured, it should have a strict stop loss. For intraday traders or jobbers anything beyond 5345 could be used to book profits or short.

NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.

5368 level should be breached convincingly to confirm further bullishness.

4875, 4610 to 4630 act as support levels.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Friday, May 02, 2008

May 2,2008
-----------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5165.90. BSE SENSEX Closes at 17287.31.

NIFTY closes above 200 day SMA again. Few more closes above 200 day SMA is required to assume strength in charts. NIFTY is yet to close above 5200 target levels. It'll happen. Let us hope it to take place today.

If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for now. For intraday traders or jobbers anything beyond 5297 could be used to book profits or short.

NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target.

4875, 4610 to 4630 act as support levela.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Thursday, May 01, 2008

May 1,2008
-------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5165.90. BSE SENSEX Closes at 17287.31.

NIFTY closes above 200 day SMA again. Few more closes above 200 day SMA is required to assume strength in charts. NIFTY is yet to close above 5200 target levels. It'll happen. However, the time frame is unknown.

If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for now. For intraday traders or jobbers anything beyond 5297 could be used to book profits or short.

NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target.

4875, 4610 to 4630 act as support levela.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540

Wednesday, April 30, 2008

April 30,2008
-------------

NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________

S&P NSE NIFTY Closes at 5195.50. BSE SENSEX Closes at 17378.46.

NIFTY closes above 200 day SMA after Feb 29. Few more closes above 200 day SMA is required to assume strength in charts. NIFTY has closed near our target - 5200 level. It is yet to close above it. It'll happen. However, the time frame is unknown.

If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for at least two days. For intraday traders or jobbers anything beyond 5257 could be used to book profits or short.

NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.

NIFTY is likely to test 5300 levels as well. It is a medium to long term target.

4875, 4610 to 4630 act as support levela.

NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540