Markets Now

Futures day trading Report
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Index Symbol Last Close PIVOT POINT
UP Move Res-1 Res-2 Res-3 Res-4 Res-5 Res-6
DOWN Move Sup-1 Sup-2 Sup-3 Sup-4 Sup-5 Sup-6
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NIFTYFUT , 4970.65, 4893.98
UP MOVE 4937.96, 4981.95, 5034.91, 5087.88, 5131.86, 5175.85
DOWN MOVE 4841.01, 4788.05, 4744.06, 4700.08, 4647.11, 4594.15
CNXIT , 3927.75, 3800.00
UP MOVE 3825.00, 3850.00, 3925.00, 4000.00, 4025.00, 4050.00
DOWN MOVE 3725.00, 3650.00, 3625.00, 3600.00, 3525.00, 3450.00
BANKNIFTY , 7058.20, 7016.78
UP MOVE 7145.11, 7273.45, 7319.56, 7365.68, 7494.01, 7622.35
DOWN MOVE 6970.66, 6924.55, 6796.21, 6667.88, 6621.76, 6575.65

Nifty Spot– 4942 (+1) Chart Pattern- Dozi

Market opened flat,following the global trend.market shown a lot of volatility during the day and closed well abv its next resistance level of 4940. stil market hold a close past 4810 and it looks like that if global market is going to help us then the upper levels are expected to reach by 4990-5020+ in coming days.one thing that has to be repeated again that don’t play blind longs in this rally if you are not in buy position from lower levels as still we need a close past 5020 for further upmove.

Nifty Future- Supports & Resistances–31.03.2008

RES 1- 5045 RES 2- 5### SUP 1 –4850 SUP 2 -4###

Nifty Spot Weekly Supports & Resistances

RES 1- 5095 RES 2- 5### SUP 1 –4660 SUP 2 -4###

Market View –31.03.2008

Opening is flat to up,stay long abv 4910 sl below 4900 tgt 5010-5080.sustain below 4900,sell with SL abv 4915 tgt 4835-4725.

Nifty Intraday Levels –31.03.2008

RES 1- 5010 RES 2- 5080 SUP 1 – 4835 SUP 2 - 4725

Sensex Intraday Levels –31.03.2008

RES 1- 16590 RES 2- 16805 SUP 1 – 16015 SUP 2 – 15065

Intraday stock Idea

Tatamotors (646) Buy with stop loss below 640,tgt-652-658.

Investments-Goldmines

This is for mid term investors-all time favorite –just accumulate-Low qty.

Adani

Long term traders buy & hold this goldmine(All time favorite )-Low qty.

Welspun guj

SRF
BUY : 100 (Target: 175-210 Time Frame: Mid-Term SL: 88 )

RPL
BUY : 155 (Target: 400 Time Frame: 1 year SL: NO SL )

RNRL
BUY : 100 (Target: 600 Time Frame: 2 years SL: No Sl in brothers company )

HDIL
BUY : 540 (Target: 2000 Time Frame: Aug 08 SL: 480 )

TATA STEEL
BUY : 540 (Target: 1150 Time Frame: 6months– 1 year SL: NO SL )

Intra Day Trading Best Stocks

SCRIP	Action	TRIGGER	SUPPORT/RESISTANCE	TARGET-1	TARGET-2
ZEENEWS	Buy Above	53	50	55	59
	Sell Below	49	51	47.5	43.5
GMRINFRA	Buy Above	151	145.5	155	161
	Sell Below	144.5	146	141	131
RNRL	Buy Above	107	103	111	115
	Sell Below	104	106	97	94
SKFINDIA	Buy Above	304.5	301	320	333
	Sell Below	298	303	291	275
IDFC	Buy Above	163	160	167	172
	Sell Below	157	161	151	148

TACTICS :
Long term investor should start buying in fundamentally good frontline stocks. Medium
term investor cum trader should get ready to enter in the market. Risk averse investor should
wait for the level of 16683 to get cross and then start buying. Last weeks price behavior and
market sentiment make the overnight risk on swing trades considerably lower. Even daytraders
may find it better to trade profitably in the trending stocks because volatility has
increased on both the side. Nifty future player can take long position on decline near 4900 with
a stop loss below 4800 considering the target of 5150 for the medium term. Short term
investor can look at the stocks which are showing good strength on the chart and trade on
positive side like Aptech, Central Bank, Educom, HCL Tech, IDFC,NTPC, Infosys,
Peninsual Land, Tata Comm, PFC.

Support: 15880, 15600. Resistance: 16700, 17250.

ACC (835) :- TGT: 960.
The cement major topped out in last Oct 07 from 1300 levels and came down to 615 in Jan08. The stock is showing tremendous strength since last 2 months on the chart. It is consolidating between 710 and 850 ranges from the last eight weeks. On Friday it closed well above previous nine weeks on closing basis which signals that bulls are ready to drive the price much higher from this level. It looks from the chart that the stock is on the verge of a break out on the upper side. One can accumulate on lower level considering the support of 760 on the lower side with a
stop loss below 720 on closing basis. Target for the stock is 960.

INFOSYS LTD (1526) : - TGT: 1700.
The software major is in bear phase since last Feb 07. It dropped from 2439 to a level of 1212 during this bear phase. It consolidated between 1300 and 1660 level from the last two months. Last week it closed near month high which is good sign for the short term. On the weekly candle stick chart the stock formed a ‘Morning star’, a classic bullish reversal pattern which suggest that the stock is trying to bottom out near 1300-1350 level soon. Considering the support of 1420 one can buy the stock at lower level with a stop loss below 1300 on closing basis. Target
for the stock is 1700.


FUNDAMENTAL VIEW
The investors will remain cautious after market reeled under global and domestic
pressures recently. The next major trigger for the market is Q4 results of Indian companies
which are slated to hit the market next month. The market will also closely look at further
global cues.
Market men are keenly awaiting Q4 and full year March 2008 results from Indian
corporate. Robust corporate advance tax payments in Q4 March 2008 indicate that
corporate profit growth will be strong in the quarter. Advance tax figures showed
banks, hospitality and software firms are doing better than sectors like automobiles and
cement.
India’s economic growth is expected at close to 9% in the fiscal year ending March 2008,
finance minister. He also said problems stemming from the credit markets will also affect
India, even though only one Indian lender had exposure to US sub prime mortgages.
US Federal Reserve on Tuesday, 18 March 2008 and following better-than-expected
results from two major investment banks -- Goldman Sachs Group and Lehman Brothers
Holdings.
FII outflow in March 2008 totaled Rs 772.90 crore (till 26 March 2008). FII outflow in
calendar year 2008 totaled Rs 11,749.30 crore (till 26 March 2008). Mutual funds (MF)
were net sellers of shares worth Rs 2,173.50 crore in this month, till 26 March 2008.

TECHNICAL VIEW
The week ended 28th Mar ‘08 was classically bullish one for the market. We saw a hefty rise
in the Sensex after a long time. The market gained ground during the last week, with the
Sensex increasing by 9.17% or 1376 points, and the Nifty 8.04%. The CNX Mid cap gained
8.53 %. Bse Consumer Durable Index, Bse Reality Index, Bse IT Index lead the rally, all
gained more than 11.50%. Bse Auto Index and Bse Health care Index were less gainer among
all Indices, gained only 4% to 5%. Wipro and HDFC LTD were the biggest gainers among
the Sensex stocks, gained 20.55% and 18.10% respectively. Infosys, Hindalco, BHEL,
TISCO and DLF followed it, all gained between 12% and 14%. While Ranbaxy and Tata Motor
were the only loser among the Sensex stocks. HDIL, Aptech, Yes Bank was the leaders
among F&O stock gainer list, gained 42.59%, 39.33%, 33.17% respectively. Some of the
heavy volume traded counters like Adlab, Rel. Cap, India Info, Orchid, HCC, Kotak, Welspun
Guj were the smart gainers, all gained more than 22%. S.Kumar was the worst hit stock, lost
22.14%.

PRICE PATTERN VIEW
After crossing the level of 16310 for the Sensex, the intermediate downtrend that began
on February 4, when the Sensex topped out at 18895 have come to an end last week.
Similarly the level of 4912 was for the Nifty. The trigger for the CNX Mid cap Index stays at
7,019 which have not come yet. The Sensex completed eight weeks in the intermediate
down trend. In our weekly news letter we previously mentioned that according to our
research, intermediate down trend last up to six to eight weeks in bear market and exactly
market completed eight weeks time to enter intermediate uptrend. On the daily chart, we
had important trading lower tops created on the back of strong gap up opening of 500+
points. These trading lower top is 16683. If we have to get the first signs of a pull-back
rally then it must cross and close above 16683. If the Sensex is able to meet the said
conditions, then only the rise could be meaningful from the short-term perspective.
If the Sensex cross 16683 decisively next week then it may run although way near 17200-
17500 in the near term and the finally 18000 for the medium term. The odds are in favor of
bulls.
The earlier intermediate tops for the Sensex and the Nifty are at 18,896 and 5,545.20
and these indices will have to close past these levels in the next intermediate uptrend for
the major uptrend to be reinstated. The equivalent level for the CNX Mid Cap index is at
7,737.20. There is fair chance of short term up move in long term bear market.
All Asian market closed in the green while European markets subdued on Friday. US
markets are showing good strength since last ten days, but they are facing stiff
resistance on higher level. Dow Jones, NASDAQ and S&P 500 all lost nearly 0.75% on
Friday. Once Dow Jones crosses 12800 levels decisively then it will turn out to be
significant one for the world market too. Unless Asian markets show significant move on
upper side on Monday morning, our market likely to open flat to positive mode.

IMPACT OF HIGH INFLATION
Industrial production, which has been low, is not expected to get any boost due to these
moves and the 9% economic growth rate is a myth now, we are looking at a more
realistic figure of anywhere between 7-7.5% growth rate. But look at it like this – when
we had an inflation of 4% and growth rates were 8.5%, then we are looking at a nominal
GDP of 12.5%. Now the inflation rate is 6.68% and the growth rate of 8 or 7.5% is
expected, that means we are looking at a nominal of over 14%. (Real GDP measures the
increase in the volume of economic activity. When inflation is added, nominal GDP is an
estimate of national income, which is divided between government, individuals and
corporations – with the bulk of the latter representing profit)
The Govt has no alternative but to now hone all its skills and focus all its attention on
bringing down the rising prices. It is always the real GDP which matters the most.
And now we all have reset our minds to a lower growth rate, the Govt has to work on
reining-in the prices. Otherwise no amount of pay hikes and waiver of loans will help it
win the votes!
Government is determined to take all measures, fiscal, monetary and supply side, to
moderate inflation. The Government is prepared to sacrifice a little bit of growth to
control inflation, and interest rates remain the most effective tool to manage mounting
inflationary pressure, Finance Minister P. Chidambaram said on Friday.