Markets For 28-04-2008

April 2008 was a great month for stock markets as Nifty rallies from 4800 to 5100 + lvls. This we have predicted earlier & also on SMS
Also technical reasons were given showing charts that y we r bullish on markets, after reading u will to get the idea.
There we have spotted Nifty lvls like
" Anyways our views are bullish on the markets & we will see upside rally in the days to come as imp resistances are 4925 , 5050 , 5170 & 5250 while imp supports are 4725 , 4650 & 4580. "
We are very close to 5170 lvls as we Nifty closes abv 5100+ lvls, any close abv 5170 lvls nw wil take markets to 5250 , 5325 & 5400+ lvls, this r pure technical lvls, Those who are long on the markets can use trail stop loss like 4925 lvls on closing basis. Any close below 4925 spot lvls can reverse the trend.
We have given Technical buy calls on 04 April 2008 like Reliance pack, Banking Stocks & Engineering / capital goods stocks, one can check the then prices & prices closed on 25 April 2008, Stock prices just rose by 10 to 15 % approx
In last few days other sectors which outperformed were Telecom, Metals, Sugar.
We would like to continue with our trading recomendations on Reliance pack, Banking & Capital goods / Engineering stocks with trail stop losses or Trail stop loss @ 4925 spot Nifty lvls.
One who is happy with such 10 to 15% gains in prices can book profits as these are handsome returns in short span of time.

NIFTY Analysis : Due to encouraging global closing Nifty has closed on a positive note and closed almost 112 points up from its previous day's close. One interesting things note here is from last 4 day it sustain above 5000 marke and don't cross 5100 marke only because of F&O expire and after April contract expire it zoomed and close above 5100 mark. On daily chart it has formed a "Rising Threee" pattern, which is a bullish sign. Now Nifty is approaching its 200 DMA(5150). If it crosses 5150 then the next hurdle will be 5210(Equivalent level of 200 DMA of SENSEX). So be cautious around these levels. On downside 4980 will be the strong support level for Nifty. So all correction should be used as buying opportunity. Sector wise. almost all sectors are looking good So buying should be considered in fundamentally strong scripts with at least six month time frame. For monday, support exists at 5080 and then at 5010. On upside resistance exists at 5160 and then at 5210.
Strategy :Above 5075 no problem for bulls it will zoom to kiss 5152 and then 5193 level if stay above it then heavy buying will start and it will go to 5270 level. support @ 5034 and then 4957.

BSE SENSEX : For a day trader, it will zoom to kiss 17256 to 17387 level if cross this also then zoom to kiss 17625 level. support @ 17018 and then 16887 level.


The results of RNRL is on 28thApril.
Once market touched 17230 - 17350 ,Start exitting ur all positions once and Wait for a dip...

WEEKLY BUY CALL
SATHAVAHANA ISPAT(526093)
Buy around 62 for a tgt of 75 by 02nd May with STRICT SL @ 54

R System Tgt 115++
Guj Appollo Tgt 245++
Euro Ceramic Tgt 160++
Rama News Tgt 44++
Hdil ABV 750 t-850,sl-715

RNRL- TP 125,SL 121,Tgt 128/130+
NAGARFERT - TP 51.3,SL 50.2,Tgt 52.5/54+
RAMANEWS - TP 39.4,SL 39.2,Tgt 42.95/45+

Hoteleela expected to deliver a news this week.. Trgt 60+
on Monday watch chambal...castrol...rcom...dlf...jaiprakash...rpl

Matrix Labs.
Time frame : 1 month
BUY Future only if u can hold it for sometime if it goes in loss. In cash Dont leverage

ORIENTBANK BUY ABV205 SL 204 TGT 207/210+,
TRIVENI BUY ABV 116 SL 115 117/119+.
Buy Renuka Fut ABV 130 with SL 127,TGT 135/139+

CESC : It will zoom to kiss 459 level and if cross this level also then zoom to kiss 468 to 480 level. support @ 447 and then @ 438 level.
REL : grab @ opening it will zoom to kiss 1391 and then 1422 level if stay above then next target is 1474 level. support @ 1339 and then @ 1308.
ICICI BANK : Grab @ opening it will zoom to kiss 939 and then @ 963 level support @ 904. Stop loss @ 880.