DAILY REPORT FOR
NIFTY (4739 +5 pts)
Supp 4690/4625/4530 Res 4800/4855/4970
SENSEX (15626 -17 pts)
Supp 15560/15300/14900 Res 16000/16300/16450
Outlook for 2 April, 2008:-
· Support at 15300 was not broken yesterday and now we should reach 17000-17500 on the Sensex in near future. Dow Jones had a big rally of 391 points yesterday and today’s opening is expected to be positive.
· Nifty has support at 4690 and we will remain bullish for the day as long as above that level.
· Bharti Airtel (804):- The stock can target 890-910 levels. Buy with SL of 770
· Banks are expected to participate in the rally. SBI, ICICI Bank and PNB can be the leaders.
· http://www.thehindubusinessline.com/2008/04/02/stories/2008040252460100.htm Vehicle sales rise in March 2008. Auto stocks – M&M, Hero Honda and Maruti are expected to rally.
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.