11th June 2007

Hiiiiii

Market have witnessed a very sharp fall during last three days due to profit booking and also amid fear of global worries of further rate hike.Selling pressure is across the board is pretty healthy for the long run mkt and this is not a bearish reversal yet as market tone is still not so bad for mid to long term.As I kept writing since last one week that market has to give a decent close above 4300+ for further upmove or without a gapup opening nothing good is for bulls,proved exactly as written.in coming days market may remain again under pressure from higher levels and in the bottom side it has to show some real buying strength to save from further fall around 4050+.

We are expecting bounce back on Monday. The real factor behind this small correction was profit booking. The entire factors’ supporting our market still remains intact.
In line with expectation inflation is coming down. The earnings growth still keeping up ward trend. Now the factor remains global markets, which can affect only short-term time not for long time as far as our growth remains increasing.
Another problem in our market currently witnessing is the lack of confident of fresh buying. This trend cannot continue long time, as the buyers are still confident when market falls down. There are some shares in index that can double from, so keep them strongly. We are still confident on our target ie: 16000-18000.


NIFTY FUTURE
CLOSE 4122
R1 4162 R2 4202
S1 4095 S24067
TREND

Volatile

Fno Calls:-
1.Buy BAJAJHIND June fut with Stop loss 162 Traget 174-177.
2.Buy SUNTV June fut with Stop loss 1320 Traget 1348-1358.
3.Buy SOBHA June fut with Stop loss 845 Traget 870-878.
Intraday Cash Calls:-
1.Buy TATAMOTORS with Stop loss 640 Target 665-672.
2.Buy GTL with Stop loss 214 Target 226-229.
3.Buy TATASTEEL with Stop loss 576 Target 592-597.
4.Buy NDTV with Stop loss 370 Target 382-85-92.
Delivery Calls:-
1.Buy RELIANCE June fut with Stop loss 1600 Target 1740-1750 in 1 week
2.Buy INFOSYS Target 2050-2100 in Few days.