NSE | BSE | Market This Week |

Market Outlook:The week that went by
The falling Crude oil price was the main attraction for the first half of the week’s trade. On the back of this, Nifty rallied to 4522, after opening
at 4356. However, due to the negative global market situation and the political tensions on the Nuke deal, the selling pressure started in the
second half of the week. The slightly calming inflation figures, which came at 12.34%, failed to make a positive impact in the market. Sensex
opened at 14412, made a high of 15106, and later made an almost flat closing at 14483. Nifty also closed almost flat at 4352.

Technical Outlook :
After a positive start, the market went into a selling mode. The Indices closed almost flat during the week’s trade.
For NSE Nifty, the technical indicators are pointing towards some more downside in the coming week. RSI have moved below the 50 points
mark in the daily chart. Stochastic Oscillators have entered the overbought zone.
At current levels 4280 is expected to act as the critical support level. A fall below this is expected to take the index towards the downside
support of 4070. The first resistance for the week will be 4425; Further, any upside is not expected to extend above 4495.
The Elliott wave analysis of the index is also indicating further downside in the coming days.

Week Ahead :
The outcome of the Nuclear Suppliers Group (NSG) is expected to affect the initial trading session of the coming week. Another thing that the market will be looking forward will be the OPEC meeting , which is scheduled to the next Tuesday (September 9th). The negative figures from the US jobs data also will weigh the market.

08 September 2008, Monday | Daily Market Analysis

SENSEX (Close- 14483.83)

Sensex has seen weakness on last trading day and closed below 14500 marks. Technically Sensex has major support at 14000 marks. This sell off was much inspired by global weakness. We cannot ignore the fact that market is in over sold zone. I like to say that a lot has chenged for stock market on this weekend and good reaction is expected. Technical signal is still favouring for the target above 15000 marks for Sensex. Caution required in metal stocks. We can expect firm trade in banking and technology pack. Over all short trades should be avoided still you may get stock specific short trade opportunity.

Support - 14430/14200/14000

Resistance - 15000/15165/15320

NIFTY (Close- 4352.30)

Nifty has technical trading support at 4300 marks and has good support at 4250 zone. Technically one can expect a move above 4400 marks. One can prefer long in any lower levels.

Support - 4320/4278/4250
Resistance - 4384/4421/4450

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

Stock Tips Today

BHEL: (1722) Buy. Crossover above 1740 huge up move will start.

SBI: (1416) Expect 1449 & 1472. Book profit on higher levels.

BOI: (272) Looks good only.

ICICI Bank, KOTAK & AXIS Bank: 650, 583 & 698 solid supports now. Buy or remain long.


PUNJ LLOYD: (311) Looks good only. Remain long. Expect 332.

JP ASSO: (162.50) Looks good.

STRIDES ARCO: (198) Buy. Crossover above 206 huge buying will be seen.

Nifty / Sensex technical analysis

Crossover above 14587 & 4369 heavy fresh buying will underway.

Crossover above 4400 NIFTY FUT will shoot up to 4460, 4515 & 4557.

14281 & 4281 solid supports...Buy on every decline.

Banking, select metal, select real estates look extremely hot.

BSE index: (14499) Buy or remain long considering 14414 a solid support keeping stop loss of 14281.

Upward side crossover above 14587 it'll spurt up very heavily to 14694-14712 & there after to 14814 & 14908.


Nifty: (4348) Buy or remain long considering 4323 a solid support keeping stop loss of 4281.
Upward side crossover above 4369 it'll shoot up to 4408-4417 & there after to 4449 & 4471.

Nifty SEP FUT: (4360) Buy or remain long considering 4321 a solid support keeping stop loss of 4275.
Upward side crossover above 4380 it'll shoot up to 4400 & there after to 4424, 4460 & 4516, 4557.