Monday, April 07, 2008

DAILY REPORT FOR 7 APRIL, 2008

NIFTY (4647 -124 pts)

Supp 4625/4535/4465 Res 4690/4740/4800

SENSEX (15343 -489 pts)

Supp 15300/15000/14800 Res 15500/15630/15900

Outlook for 7 April, 2008:-

· Sensex fell 6% last week but we have tested 15300 twice. Now that can become a good support but if we move below 15000, some more selling is not ruled out. 13800-14100 levels are not ruled out in that case but then again, we move nearer to a good bottom.

· Today markets are expected to open flat and a crossover of 15630 is needed for a good rally intraday.

· Time-wise the correction is near its end and we will get confirmation once a good rally happens.

· S Kumar Nat (88.85):- Buy the stock for target 103-106 SL 83.50


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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