DATED : 11th Aug 2008  

Monday, August 11, 2008

STRONG OPENING BUT

PROFIT BOOKING AT HIGHER LEVEL

C-R-U-D---E

Below US $ 117 target 110 US $ - 92 US $

____________________________________________

Last and Final Hurdle

Of Nifty 4550 - BSE 15130

Thereafter first target of

Nifty 4750 - BSE 15700-15800

Then...if positive bias in the market like, crude soften, Reforms process by Govt.

Next Target

Nift - 4908, 5193

BSE - 16343-17337

NIFTY : Major support of August 2008 4220. Keep a stop loss 4159 and hold long position. Keep a stop loss 4160 and play for long target 4908, 5193. Today support 4513, crossover 4545 , 4600, 4650. Close above 4650 target 4800 +.

BSE : Major support 14000. Keep a stop loss 13727 and play for long target 16343, 17337. Today support 15100, once cross and sustained above 15228, non stop target 15450-15500.

BANK NIFTY : Hold 5610 bull will charge continue. Today support 6371, crossover 6488, immediate target 6564, 6600 or above. On dip buy, another round of bullish break out on the card, thereafter huge up move expected.

CNX IT : Down side major support 3807. Heading towards 4140 +. Today support 3929, higher level it will face resistance 4020 and real strength show only above that level.

WORLD MARKET UP DATED

Dow : Still below 50 DMA and 200 DMA with consider strong hurdle 11700. Continue close above, first sign of trend change. On Friday closed above 11700 which is bullish sign.

Nasdaq : 50 DMA continue remain below 200 DMA and prices seems creating higher lows and higher highs with consider resistance 1850. Bullish break out catch it.

S&P : Prices have broke above the resistance level of 1270, have unable to cross recent high 1291, once cross these level, bulls have regained control.

RNRL : Monthly trend decider 85 Higher level massive resistance 108-110, close above target 115 + down side support 101. stop loss 98 for long position.

RELIANCE :Watch the laxman rekha 2300-2310.

IFCI : Higher level major resistance 53-54 and close eye these level, till then side ways. Down side support 48.


HDIL :Down side major support 492, 470, as remain hold these level bull favour. Today support 494, higher level resistance 522-530, thereafter u will see the magic of chart. Looks good,


ONGC : Very big up move with bullish break out on the card with consider major resistance 1080-1100 range. Close eye please.

IDFC: Monthly trend decider 99. Today panic buy........ Buy and buy. Unexpected movement.

ABAN LLOYD : Shortage of rig, new contact likely much much higher price. Any time it will blast.

DR. READDY LAB : Worst is over, take position.

ASIAN ELECT. : Catch it in early trade.

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