Markets For 03-11-2008 ( Weekly )

Nifty is in uptrend for short term & in down trend in.Announcement of 100 bps CRR cut,100 bps SLR cut & 50 bps Repo rate cut by Rbi will boost tommorows market opening, tommorow may be a big gap up. US market too witnessing a pre-election rally. This is a nature of Bear Market,that it gives steep rallies & stocks looks at lucrative rates, but we have to be cautious with our greed. In bear market we have to be carefull with our entry & timings, thats only matters.Strong support is at 2925-2630 & 3055-3131 will offer resistance. Stretching this rally we will face real pressure at 3660. So, one has to time his positions. Try to exit your speculative longs in this area.

Weekly Trend (03-11-2008 to 07-11-2008) Volatile and Mix

NIFTY

Supports : 2100/2410/2590/2630/2710/2810/2925

Resistance : 3020/3065/3130/3185/3255/3295/3450

SENSEX

Supports : 7195/8210/8785/8920/9150/9430

Resistance : 10150/10370/10500/10700/10955

PROFIT BOOKING AT HIGHER LVL.

In short this bear market rally will end anywhere between 3400-3600. Next comes the target 2025 in Nifty.Prepare yourself for the worst.

Please do not get happy on news of CRR, REPO & SLR being cut because if market open green on Monday then any thing can happen after 11:30, so traders & investors don’t take market as a bullish. When Nifty do not close above the level of 3220 till then market stand on so much danger position & any one bad news can again go market in the bearish zone.

On the Monday if

Nifty Future trade above the level of 2875 then it can go up to the level of 2910/2970/3055/3085 ( Sl Below 2845 ),

but if Nifty Future go to break the level of 2900 & after this 2850 then it can go below the level of 2815/2745/2790/2685/2605/2500( Sl Above 2925 ).

Please be careful when you do trade.

Nifty future for the week 03 to 07 Nov .

Buy above 2875,

Stoploss:2875,Target 3025/3170/3455/3515

INTRADAY STRATEGY:{FOR 03/11/2008}

BUY RIL FOR SEQUENTIAL TGT OF 1425, 1455, 1490, 1539, 1580, 1610.
BUY HDFC BANK FOR TGT 1250

Buy BANKINDIA Above @ 240 Target 245-250-255-261,Sl 235

Buy BHEL Above @ 1295 Target 1350-1400-1425

Buy CIPLA Above @ 180 Target 185-195-200.

Buy NDTV Looks Technically Hot,& Show A Good Upmove In Coming Some Days

BUY BANK NIFTY for TGT of 4595

BUY IBULLS IF BRKS 111.50,T1 117-120,SL 108;

BUY PUNJLLOYD IF BRKS 178,T1 185-189,SL 174;

BUY ADLAB IF BRKS 172,T1 179-184,SL 168

BUY GAIL IF BRKS 221,T1 232-235,SL 216;

BUY HDIL IF BRKS 155,T1 162-166,SL 151;

BUY HCC IF BRKS 44,T1 48-50,SL 41.50

Tata Powers (Last closed = 690 ) Buy with stop loss below 674 tgt-720-732.

SELL IVRCL INFRA IF BREAKS 78.50,T1 74-72,SL 81.50

Sell ACC Below @ 490 Target 475-450-445

Sell BAJAJAUTO Below @ 545 Target 535-520-515.

Sell CHENNPETRO Below @ 120 Target 120-115-105.

BUY NIFTY PUT

One can buy NIFTY 2300-2500 PUT tomorrow if NIFTY can not cross 3250-3300 for November series. OR Sell NIFTY @3250-3300

Tata Steel Came out with a Impressive Results....

Sales 6850 Cr Vs market expectation of 6587 Cr.

Inspite of many more bad news on the Steel Counter like Global Economic Slow down, Sharp Decline in International Steel Price, China's Lower demand and many Hurdles on Construction Industry, I strongly believe that TATA Steel is a Very Strong Fundamental Pick. The Company will benefit from the CORUS Acquisition, Lower Raw Material prices and Sharp Decline in Rupee Depreciation.

Grab this Gold for a Target of 240 & 275

COMMODITY

CRUDE OIL (WEEKLY TARGET) :- ENTER LONG POSITIONS AT 3110-2905 ,TGTS 3640-3970.

GOLD :- SELL AGAIN AT 11940-12270 WITH SL 12330 TGT 11525-11290

LEAD :- SELL BELOW 75.20 WITH SL ABOVE 76.20 TGT 74.40-73.90-73.40-71.80-71.40-69.70

COPPER :- SELL BELOW 211.20-214.70 WITH SL 219.80 TGT 208.50-207.10-205.20-201.20-198.90