Markets On 21-07-2008 ( Monday )

Nifty opened on a cautious note, after some initial hesitation, it resumed its previous upward journey and finally it closed almost 150 points up from its previous day’s close. It was quite heartening to see such big rallies for two consecutive days. As we expected before, 3800 level indeed provide a very good support to Nifty. Unless Nifty closes below 3800 level for two consecutive days, don’t go for short selling. Now Nifty is showing very strong positive divergence in daily chart and other indicators are favoring a short-term up move. It seems that Nifty has the potential to touch 4650 to 4750 level on upside. Before that happens, Nifty may consolidate between 4000-4200 level. So one should consider some buying in case of correction. Sector wise, except metal and IT sectors, other sectors are looking good.

For Monday, support exists at 4045 and then at 3980. On upside, resistance exists at 4135 and then at 4170

NIFTY FUT : Now it has potential to touch 4160 to 4225 level. at downside 4042 is a support if break this then go for 3975.

SENSEX : Now it seem to touch 13848 and if sustain above it then go for 14061 to 14439. at downside support at 13470 and then 13257.

According to weekly & two weekly target Nifty Spot ---4035, 4115, Sensex----13405, 13700 after cross these levels give the continuous closing for three (03) days then can go up to the level of Nifty Spot---4305 to 4480 & Sensex---14405 to 15025) same as (Nifty Spot---3890, 3865 & Sensex---12880, 12790 go to break these levels then can go below the levels of Nifty Spot----3590 to 3527 & Sensex------11790 to 11555).

According to the monthly target When Nifty Spot----4470 & Sensex----15015 do not trade above these levels till then there is no meaning of Bull Run but if Nifty Spot----4000 & Sensex----13285 go to break these levels then in the below level Nifty Spot can go at the level of 3240 & Sensex 10490.

Market is still doing trade in the bearish zone, please do not do any purchasing this time otherwise all the investors will trap on Higher Levels & money problem will come on the below level for the purchasing. If GOVT do not fall then also there is no hope for Bull Run in the market because same GOVT. is still here then why fall came? So fall is confirmed in the market after surviving of the GOVT.

Today if NF trade above the level of 4055 then it can go up to the level of 4165, 4235 to 4444 but if Nifty Future go to break the level of 4055 then it can go below the level of 3955, 3820, 3515.

RESULT :
Indian Bank, Jaypee Hotels, Mangalam Cement, Reliance Ind Infra, Vardhman Acrylics,

Transformers And Rectifiers, Sail, Dr Reddys Labs, Canara Bank, Tech mahindra, HDIL, Voltas,

Petronet LNG, Aban Offs, BHEL, Maruti Suzuki.

Nifty Spot July Critical Levels
Nifty Spot for July
Watch 4217. Once Nifty trades and closes above 4217 we will see 4349,4480,4644.

Nifty Spot Week-21 to 25 July
Remain LONG above 4050 stop loss 3950 target 4114,4312,4477

NIFTY FUT : Now it has potential to touch 4160 to 4225 level. at downside 4042 is a support if break this then go for 3975.

SENSEX : Now it seem to touch 13848 and if sustain above it then go for 14061 to 14439. at downside support at 13470 and then 13257.

FOR THE WEEK

THIS WEEK 13550 OF SENSEX WILL ACT AS TRIGGER POINT – IF MAINTAINS ABOVE 139975 LEVEL CAN GIVE UPSIDE TARGETS 145275– 14870 LEVELS…OTHERWISE IT MAY SLIDE UPTO 12520 – 12185 LEVELS.

SUPPORTS: 13552, 12957, 12520 & 12186

RESISTANCES: 13997, 14243, 14527 & 14871

BUY NIFTY ABOVE 4100 WITH SL 4080 FOR TARGETS 4155, 4190, 4235

SELL NIFTY BELOW 4085 WITH SL 4100 FOR TARGETS 4010, 3955, 3895

SELL CAIRN BELOW 218 SL 224 T 205

BUY BHARTI SL 798 T 830

BUY SESAGOA FOR JUMP OF RS 150 IN 3-4 DAYS

BUY ICICI ABOVE 614 SL 599 T 634

BUY GAIL with sl of 360 once start trading above 380 all bears will commit suicide tgt are 385-395.

BUY ABB with sl of 886 and tgt of 915-928

DCB FUT ( CMP 51.1) : +VE ABOVE : 52.5 ;; -VE BELOW : 51

DENABANK FUT(43.05): R1 43.95 ;R2 44.80 ; S1 42.15 ;S2 41.20

BANK OF BARODA LOOKING HOT AND FIERY

Sell BAJAJAUTO Below @ 390 Target 370-345-332.

Sell BHARATFORG Below @ 245 Target 235-220-216.

Sell CIPLA Below @ 215 Target 205-200-195.

Sell GRASIM Below @ 1710 Target 1655-1595 to 1565.

Sell HLL Below @ 220 Target 215-210 to 205.

Sell INFOSYS Below @ 1525 Target 1440-1335-1285.

Sell KOTAKBANK Below @ 465 Target 425-380-255.

Sell PATNI Below @ 235 Target 225-210 to 205.

Sell RANBAXY Below @ 435 Target 390-340-320.

Sell SUZLON Below @ 195 Target 180-160-150.

Sell TATAELEXSI Below @ 185 Target 180-170-165.

Sell WIPRO Below @ 365 Target 330-295-275.

RIL : For a day trader, If it cross 2163 then it zoom to kiss 2213 to 2300 level. At downside support at 2026 and then at 1939.

SBI : Now if cross 133 then go for 1367 to 1426 level. at downside support @ 1274 and then at 1240.

DLF : above 448 it zoom to kiss 481 and then 502 level. and below 448 it slide up to 427 to 394 level.

BHEL : Now at upside it touch 1566 and if cross this then go for 1600 level this is a strong resistance if cross this too then zoom to kiss 1656 level. At downside support @ 1510 and then 1476.

REL ENERGY : At upside it go for 880 level and if cross this level then next target is 905 to 945 level. at downside support at 840 and then at 816.

REL CAP : It zoom to kiss 1133and if sustain above it the go for 1171 to 1230 level. at downside 1074 is a support break below slide up to 1036 to 977 level.

ONGC : Use 931 is a support and buy this stock it zoom to kiss 962 and then at 980 to 1011 level. and if break 931 then slide up to 913 to 882 level.

INFOSYS : Now if break 1500 level then dump up to 1453 to 1404 level. at upside it face resistance at 1596 and then 1645.

LNT : Taking a 2511 as a support this stock is zoom to kiss 2605 to 2664 level. and if break 2511 then slide up to 2452 to 2358 level.

TATA STL : If break 578 then it slip up to 564 to 548 level and at upside above 594 it go for 608 and if cross this too then zoom to kiss 624 to 638.

Kashyap Technologies..Strong Buy
BSE CODE 532283 ; CMP:1.31
TGT:5/-(3 Months) ;Very Long Term Target is 20-25/-

Gujarat NRE Coke Ltd* (Rs. 113) ;Year TGT Rs. 175

Chennai Petroleum Corporation Ltd* (Rs. 304); Year TGT Rs. 425

Sasken Communication Technology Ltd* (Rs. 139);Year TGT Rs. 200

Max India Ltd* (Rs. 154.80); Year TGT Rs. 260

Andhra Petrochemicals Ltd (BUY )TGT Above Rs.35

Man Industries (India) Ltd (BUY )TGT Rs.120

Markets On 14-07-2008

If INFLATION is continuously increase, increase the CRUDE OIL rates or INDUSTRIAL GROWTH is running below expectation or World market is also falling continuously then how can be Indian market bullish, there is no strength in the market. When market go to increase then those investors who took fresh buying position please leave from this market because this time more correction of 15% to 30% can be happened & too more below rated can get to see here.

Today high & low of Monday is too crucial for the Nifty Future. If Nifty Future cross the level of 4085 then it can go up to the level of 4110, 4175, 4195 but if Nifty Future goes to break the level of 4020 then it can go below the level of 3975, 3895, 3775

Sell NIFTY Below @ 4025 Target 3890-3750-3690.HOLD (Sl 4060 ).

Buy @ 4060 SL 4035 TGT 4110.

Buy M&M SL 530 TGT 560;

Buy STER@682 SL 669 TGT 708;

Buy SBIFUT SL 1224 TGT 1300

Sell ACC Below @ 535 TGT 510-490-475.

Sell BANKINDIA Below @ 245 TGT 230-215-205.

Sell BPCL Below @ 250 TGT 240-225-220.

Sell CORPBANK Below @ 270 TGT 260-245-240.

Sell HDFC Below @ 1930 TGT 1830-1730-1675.

Sell HEROHONDA Below @ 660 TGT 625-590-575.

Sell HINDALCO Below @ 150 TGT 142-134 to 130.

Sell IFCI Below @ 37 TGT 35-32-30.

Sell JPASSO Below @ 155 TGT 145-130-120.

Sell RCOM Below @ 435 TGT 420-400-390.

Sell RPL Below @ 167 TGT 162-155-153.

Sell SAIL Below @ 140 TGT 125-110-105.

Sell WIPRO Below @ 400 Target 385-365-355.

Sell ZEETELE Below @ 195 TGT 185-180-175.

Markets Weekly 14-07-08

Dear Investors,


Last week was very dismal week for the market. Markets have completely shocked and taken huge beating on account of disappointing IIP numbers, rising inflation, crude and no revision in Infosys' guidance in dollar terms. Huge sell off seen in technology, capital goods, power, oil, banking and metal stocks. Global cues have not played any big role in ending part of the week. Bse Sensex, CNX Nifty and CNX Mid cap Index after wild swing on both side remained side ways for the week with a gain of only15 points, 33 points and 87 points respectively for the week.

Inflation has been inching up and showing no signs of cooling off. Inflation for the week ended June 28 stood at 11.89% as against 11.63% for earlier week. IIP numbers are a cause for concern. Our research view suggests that the Finance Ministry may revise growth forecast for FY09 down to around 8% or so. India’s political problems are hurting fiscal discipline. FII feel
that India must address fiscal problems to avoid a downgrade. There is fear that India’s rating might be low if credit problems persist. In the light of above worries, FIIs sold shares worth Rs
1,012.20 crore in the month of July 2008 so far, till 9 July 2008. Our research house expects that the overall earnings of the corporate sector are seen rising about 15% in Q1 June 2008 over
Q1 June 2007. That would be well below the 20-25% growth seen over the past few years.

On the Nifty, we are looking at 3,800-3850 as a bottom and possibly top around 4,150-4,200 is a broad range for the Nifty and similarly for the Sensex, which should also be in the range of
1,000-1200 points or so. We advice investors that we cannot have a major pullback from here and they should not be so aggressive on rallies in a bear market because such rallies can fizzle out at any time and bad news tend to come on all resistance levels.



Price Pattern View: -

This week we found classic ‘Long Legged Doji’ pattern on the weekly candle stick chart. The
pattern has long upper and lower shadows in the middle of week’s trading range, clearly reflecting the indecision of the buyers and sellers through out the week. The market moved higher and then sharply lower. It then closed at or very near the opening price. If the opening and the closing are in the center of the week’s range the line is referred to as weekly Long- Legged Doji. We even didn’t get the follow through of previous week’s Hammer pattern. So now if we combine last two week’s pattern then conclude that the top of 14066 and bottom of 12822 will be more crucial to be crossed in the immediate future for more trended move on either side.



Momentum Indicator: -

Relative strength Index (RSI) on the daily chart is not showing any sign of strength and it is
moving in tandem with the price. MACD on the daily chart found support from previous low area
and cut it’s averages from lower level indicates that medium term bottom is near by those level of 12500 but more confirmation is require from other indicator also. The Sensex is well below its
short term and medium term moving averages. 20 DMA is 14094 and 50 DMA is 15505, indicates weakness in the price still prevails. ADX line is moving south ward signaling no trend in the market and more consolidation is going on.



Tactics: -

Long term investor and medium term investor should start building their port folio because the
market is in intermediate uptrend. The risk-reward ratio is very much in favor of investor now with the Sensex having fallen almost 40% from its January high. Big earnings to be announce in the next week that one should look out for.

Resistance: 13750, 14150. Support: 13300, 12800.

Future & Option Strategies for the Week:-

As we mentioned in the last week that for Nifty future 4300 and 3800 are the trend change levels. We still continue the strategy of “Short Strangle Strategy” to earn profit.
Once again sell Nifty July 4200 Call at Rs 66 and sell Nifty July 3700 Put at Rs 53. Trade will be
profitable till remain in the range of 3620 -4280.
Maximum gain in this strategy is Rs 5950/- and risk in this strategy is unlimited if Nifty future closed above or below the range of 3647 -4266.

Max. Return: Rs. 5950/-.
Max. Risk: Unlimited (If Nifty close out side the range of 3647 -4266).( As On July 11-08)




1: Infosys Tech Results

The results were much in the lines with market expectation. With the rupee having
depreciated since the beginning of the month, it was expected that this IT behemoth would
show a considerable improvement in its top lines and bottom lines.
YoY, on a standalone basis, total income rose 22.09% to Rs.4,647 cr. Net profit was up
22.76% at Rs.1,262 cr. On a consolidated basis, QoQ, net sales grew 6.86% at Rs 4,854
cr. Net profit was at Rs.1,302 cr, up 4.24%. The margins were impacted due to increases
in salary and visa costs which to some extent was offset by rupee depreciation.
Aided by the depreciating rupee, the outlook for FY09 has been increased. The company now
expects its top line to grow by 28% as against an earlier projection of around 20%. However,
it is pertinent to note that Infosys has not revised its earnings as well as revenue guidance in
dollar terms.
Conclusion: The rupee is expected to remain in this state of “depreciation” for some time
now and this will be a big advantage for Infosys and other frontline IT companies. But no
revision in dollar term earning suggests that management has no confidence in real business
development. This clearly means that upward revision in rupee earnings is purely based on
depreciating rupee.



2: Inflation

As expected, inflation for the week ended 28th June 2008 was in the double digits, except
that it was at its highest. At 11.89% it is much higher than the 11.63% recorded last week.
Food articles was up 0.6%, textiles was up 0.6%, machinery and machine tools rose
0.1%, non-food articles rose 0.4%, manufacturing was up 0.4 %; fuel, power and energy
remained unchanged at 0.1%, fertilizers were up 4.5%, while basic metals was down
0.8%. Vegetable prices were up 3.7%.
Conclusion: Inflation and the market indices will continue to get ruled by the movement of
the crude prices. There seems to be no let up there. Saudi has increased supply in July by 2%
and that probably has helped cool down the prices. But this is just a temporary relief.
There are expectations of further monetary tightening in quarterly monetary policy review of RBI scheduled on 29 July 2008 as inflation is showing no signs of abatement. It is
expected another 25 bps hike in CRR.



3: Index of Industrial Production (IIP)

Growth in IIP for May 2008 fell to 3.8% as against a robust 10.6% in the same month of
2007. Industrial growth for April has been revised downwards to 6.2% from 7% recorded
earlier. And this downward revision is the most shocking part of it all.
Manufacturing production growth during May was down at 3.9% as against 11.3% in
the year ago month. Electricity production growth slipped to 2% compared to 9% in
May, 2007. Mining growth in May grew at 5.2% as against 3.8% in the same month of
2007. Consumer-goods production increased 7.2%.
Conclusion: The figures for April were revised downwards. That is a cause for concern. So
does this mean that if the May figures are also revised, the actual numbers would be lower,
more sharply?



Overall Development

Inflation is growing at the fastest pace while industrial production is growing at the
slowest pace. There are undoubtedly some tough times ahead for India Inc. Rising
interest rates, soaring inflation, cut down in buying by the Indian consumers, will all have
a further telling effect on the bottom lines of the Indian companies. Auto companies are
seriously contemplating cutting down production. Rising costs might start impacting
expansions and other Greenfield projects, leading to further slowdown. The Government
is taking all measures to reduce prices, as that is a priority right now but this is surely
causing the economic growth to slowdown.

Caution may prevail on the bourses in the near term, as along with the economic factors,
the country is now going through political uncertainty too. All would now depend on
the first quarter results and more importantly on whether, the government will be
able to win the confidence vote in parliament.

Markets On 14-07-2008

( 14-07-2008 )

This time please keeps suspending all purchasing till then market do not get bullish signal. Market has made very bad signal & according to technical chart market can go in the bearish zone.

Weekly & two weekly targets are giving very bad signal, if Nifty Spot trade above the level of 4128-4140, Sensex-----13773-13826 & Nifty Future---4103—4128 then any bull run get to see but if Nifty Spot--- trade below the level of 3971---3924, Sensex---13290---13116 & Nifty Future--3924--- 3904 then below target of Nifty Spot is 3699 to 3621, Sensex---12422 to 12055 & Nifty Future--3621 to 3582.

Today if Nifty Future go to cross the level of 4031 then it can go up to the level of 4142, 4162 to 4289 but if Nifty Future trade below the level of 4031 then it can go below the level of 3937, 3840 to 3977 or also go at the level of 3615.

Important Dates:
July 16 - EIA Petroleum report
July 22 - Vote of Configdence against UPA Govt
July 29 - RBI policy Meet;

Nifty Support:3970,3950,3925,3890-3850;Resistance:4175,4210,4250,4295

Sensex : Support 13190/ 12910 ; Resistance : 13910/14345;

Break below 3970 will test near term low of 3855 and more of 3600.

Buy NiFTY Abv 4050 TGT 4080-4095-4115-4145-4170-4190
Sell NiFTY Blw 3980 TGT 3950-3935-3895-3840-3815-3780;

Sell ACC Below @ 545 Target 505-470-450.

Sell BANKINDIA Below @ 245 Target 225-200-185.

Sell BHARTI Below @ 745 Target 710-670 to 650.

Sell GAIL Below @ 345 Target 320-290 to 275.

Sell HEROHONDA Below @ 665 Target 625-585-565.

Sell HLL Below @ 215 Target 200-190-180.

Sell KOTAKBANK Below @ 510 Target 470-435-415.

Sell NTPC Below @ 160 Target 150-140-135.

Sell RCOM Below @ 435 Target 405-370 to 355.

Sell RELIANCE Below @ 2010 Target 1930-1850-1800.

Sell SIEMENS Below @ 470 Target 430-395 to 375.

Sell SUZLON Below @ 205 Target 190-175-170.

Sell IFCI below @ 39 Ssl 40; Target 37-35;

Sell Axis Bank ( Rumours Of Some Bad News Coming Up Shortly, Ready to Test New Low...)

Keep watch Karutari net grab below 19 & hold for 2 month, good return expected .

Use Rise to Buy PUT & Initial Dip to Buy CALL
Market ALERT!!
HUGE VOLATILITY SL MAY NOT WORK

Avoid Spike Buying
Instead of Making LOSS ~ Trade Less and Gain Less
Always Book Profits at All Levels ~ Targets Are Indicative Only