DATED : 7th JULY 2008  

Monday, July 7, 2008

On Going Rally - Major Resistance

BSE 13750-13780 - 14500-14510

NIFTY - 4325

Panic concentrate

- Sugar Stocks -

Closely watch Political Development

Bears side - Communist Party

Bulls Side - Samajwadi Party

Any Bad news

Nifty target 3700-3600

On panic catch

ADAG - Stocks only....

Dow

may ready to bottom out and appreciate likely 30 to 40% (16000)(time period 6 to 12 months)

1. Crude oil bubble ready to burst any time will result a rebounding dollar will dampen inflation and reduce pressure on the Federal Reserve to rise interest rates and will create a confidence of economy.

2. In USA Obama/McCain near to President Chair of most respectable and powerful nation of the World. But there is no matter who takes the Presidential Chair in November, the market will react the same consumer confidence will soar.

3. The step decline in home price that likely to end soon and with it the overall market will gradually improve.

Written on 7th July 2008


NIFTY : Today support 3981, crossover 4035, immediate target 4067,4110.

NIFTY (Monthly - July ) Monthly resistance 4323, above only positive movement in the market, down side target 3738, 3436 and below

BSE Monthly resistance 14500, crossover and continue close above, first sign of reversal, down side target 12367, 11372. (short term support 12700) Today support 13330, higher lvel it will face resistance 13630-13800.

BSE (Monthly July ) Monthly resistance 14500, crossover and continue close above, first sign of reversal, down side target 12367, 11372. (short term support 12700)

BANK NIFTY : Higher level 5567 are major hurdle, down side target 4456, 3886.

BANK NIFTY : (Monthly) Higher level 5567 are major hurdle, down side target 4456, 3886.

CNX IT : (Monthly) Higher level 4250 are a strong resistance, down side support 3726, 3454 or below.


RELIANCE Monthly trend ecider 2165. Lower level target 1886, 1677, 1398. Today support 2081, higher level it will face resistance 2135, 2190. major resistance 2250-2260


RCOM Monthly trend decider 486. Lower level target 390, 337, 241. Strong recovery from the lower level... today it will take support 421, 400, higher level it will face resistance 445, 467.


RNRL : Monthly trend decider 77. Lower lever target 56, 36 Today support 65, higher level it will face resistance 70, 74.


PUNJ LLOYD : Highly over sold counter from the high 400 point wipe out, corrective rally continue.


REL CAPITAL : Monthly trend decider 1005. Lower level target 789, 675, 459. Today support 952, higher level it will face resistance 1005, 1028, crossover more up side,.


DLF LTD : Monthly trend decider 465, lower level target 324, 252. Today support 405, higher level it will face resistance 433 and sustained above more up side.

JP ASSOCIATES : Montly trend decider 170, lower level target 116, 88. Strong move from the lower level, today support 148, higher level it will face resistance 160, 164.


ONGC : Trading range 800 to 900, break and crossover in side side one side movement.

Higher level Short side play - Idea, NTPC, RPl, Carin India Ltd, Tisco, Sail, Nev Lignite.

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by Madhu

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