4th Sep. 2008 Stock Market Today

Up move to continue. Buy on every decline.

For today watch out for hurdles at 15255 & 4568.

BSE index: (14050) Consider 14824 a nearest & 14672 a solid support, keep stop loss of 14672 to your buys.
Upward side it'll rush up further to 15143 & 15255 initially. Watch out for 15255 as it's a crucial hurdle.
Crossover above 15255 it'll spurt up heavily to 15343 & there after to 15520 which is a last crucial resistance.


Nifty: (4504) Consider 4467 a solid support. Upward side it'll spurt up further to 4568 which is a crucial hurdle to watch out for where some profit booking not ruled out.
Crossover above 4568 it'll spurt up further to 4596 & 4641 which is a last crucial resistance.
Downward side break below 4467 it'll fall down correctively to 4432 & 4408. Buy or remain long keeping stop loss of 4400.

Nifty SEP FUT: (4516) Expect it to rush up further to 4548-4563 & 4582 which is a solid resistance area where profit booking not ruled out.
Crossover above 4582 it'll spurt up further to 4658 & 4698.
Downward side 4486 a nearest & 4447 solid support. Break below 4447 it'll fall down correctively to 4410. Buy on every decline keeping stop loss of 4380.

STOCKS TO WATCH

ICICI Bank: (713) Looks good only. Now watch out for hurdle at 733.

AXIS Bank: (760) Looks good only. Watch out for hurdle at 777.

KOTAK Bank: (650) Looks good. Buy. Crossover above 683 expect 720.

SBI: (1521) 1546 a hurdle & trend decider for the day.


BHEL: (1785) Crossover above 1823 expect 1900.

REL INFRA & RCOM: Looks good, buy on declines.

PATEL ENGG: (422) Buy.

L&T: (2680) Buy.

STRIDES ARCO: (203) Buy.

JP ASSO: (173) Crossover above 175 expect 184.

BOI: (285) Book profit on higher levels.

-DHARMESH BHATT
The only name in 100% pure technical analysis.
Email: shivaam2003@yahoo.com