Friday, April 11, 2008


NIFTY (4733 -14 pts)

Supp 4700/4665/4625 Res 4765/4805/4915

SENSEX (15695 -95 pts)

Supp 15450/15300/15000 Res 15880/16230/16450

Outlook for 11 April, 2008:-

· We are still ranged between 4665 and 4800 for the Nifty. It is like a rocking chair which moves a lot but still it stays at the same place.

· Yesterday index was flat but individual stocks were moving nicely. CAIRN was up 5%, RIL and RPL were also up nicely during the day. But we got sold off because of profit-taking in SBI and ICICI Bank. Such things are part of this market and we have to focus on individual stocks to make gains. Buying fallen stocks like Ranbaxy and Suzlon (-4% each yesterday) can give good returns (around 8-10%) in near future. But you have to sell these stocks when they move up. Because this market demands active portfolio management, it is not like before when we waited for a 2000 point-rally and it kept on coming with all stocks participating.

· IIP numbers will be out today. Last month, these figures were not up to the mark and that is why we saw a large sell-off in capital goods stocks. But today is a different day and if IIP figures are good, especially capital goods component of it, we can see a good rally taking shape. Punj Lloyd, BHEL are already looking good on graph and decent IIP data can spark a rally in those stocks. Inflation is another data that will be watched by market participants today.

· Gammon India (387):- Buy for target of 450-460. Keep SL of 360

· HDIL (618):- The stock can target 700-710 levels. Buy with SL 590

Disclaimer: These recommendations are based on the theory of technical analysis and personal observations. This does not claim for profit. I am not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment. I am trying to consider the fundamental validity of stocks as far as possible, but demand and supply affects it with vision variations.

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