23-07-08

SENSEX (Close- 14104.20)

Well, UPA won the vote of confidence. It seems for the time being the phase of political uncertainty is over. This must be a good boost for stock market. FII and domestic funds has already started buying from last two days. It seems that a depressed market should go above 15000 sooner. I must say that due to political picture Indian market has under performed the global market. It should not break 13800 for the short term. One should expect good buying in blue chip stocks now. I like to say that almost all blue chip stocks has move higher by 10% from their recent low. To add good news crude oil is also on fall. Suddenly all turn good for market??? Now I will put an eye on inflation.

Support - 13730/13500/13320
Resistance - 13980/14100/14280

NIFTY (Close- 4240.10)

I was expecting 4230 and it has closed above 4230. Well, now what. It seems that Nifty can not only try to cross above 4300 but it may try to take a move towards 4500 marks. Support will be at 4170 to 4100. On charts Nifty has seen good consolidation.

Support - 4206/4164/4120
Resistance - 4300/4368/4420

Corporate News/Announcements 18-07-08

Binani Cement to foray into realty development: Binani Cement is expected to enter into realty
development in the current fiscal. A source said Binani has proposed to develop 56 acre it owns in Thane
into an IT park. The group plans to develop the land with a joint venture partner and is learnt to be looking at
a few options in this regard, said the source.
India on Novartis’ radar for prospecting bio-resources: Swiss drug-major Novartis AG is looking at
bio-diverse resources around the world towards developing medicines from natural sources, and India
features on this plan.
BGR Energy wins Rs 5,023-cr contract from Rajasthan Vidyut: Chennai-based BGR Energy Ltd on
Wednesday announced that it has won aRs 5,023-crore contract from RajasthanVidyut Utpadan Nigam Ltd
— the electricity generation company of Rajasthan’s electricity Board.The ‘engineering, procurement,
construction’ contract is for putting up the 2x600 MW Kalisindh Thermal Power Project at Jhalawar,
Rajasthan (near Kota). The scope of the contract includes design, engineering, supply of boiler, turbine and
generator and ‘balance of plant’.With this order,BGREnergy’s order book swells to Rs 11,000 crore.
Nagarjuna Construction to invest up to Rs 500 cr in airports, ports: Nagarjuna Construction Company
Ltd plans to invest up to Rs 500 crore in the next three years in creating port and airport infrastructure in the
country. The company will focus on creating support infrastructure that will attract other industries. It has
been pre-qualified for the proposed Udaipur airport in Rajasthan.

NSE Today 18-07-08

4001 a nearest crucial hurdle for NIFTY

Nifty: (3947) Expect it to surge up to 3881 & 4001 initially. Consider 4001 a crucial resistance. Crossover above 4001 it'll surge up to 4050 & 4130.
Downward side 3920 a nearest & 3879 a crucial support, keep stop loss of 3879 to your buys.
Break below 3879 it'll turn weak for the day & fall down to 3848 & 3760. Buy on extreme lower levels keeping stop loss of 3760.

BSE index: (13112) Consider 12997 a nearest & 12844 a solid support, keep stop loss of 12802 to your buys on declines.
Upward side it'll rush up to 13196 & 13230 initially. Crossover above 13230 it'll surge up further to 13357 & 13560 to 13616.
Downward side break below 12802 it'll turn bit weak & fall down to 12654 & 12537. Buy on declines keeping stop loss of 12500.


*OIL $130
*DOW +207
*Nikki +48
*Ftse 135
*Nasdaq +27
* Positive opening expected.
* we are stil holding 3700 put

Nifty 3700 Put Buy Signal 17-07-08

Buy Nifty 3700 Put Option @
CMP 71.00
Target 100
Stop loss 55.00 *www.bullsindia.net* less

Nifty Today 17-7-08

NIFTY (Close- 3816.70)

Nifty has broken 3800 marks yesterday but just manages to close above 3800 marks. Well, it is too early to say that weakness is over but technical recovery should come at least for first half. No fresh short is advisable.


Support - 3800/3760/3737
Resistance - 3848/3876/3918



SENSEX (12575.80)

Well, Sensex came very close to 12500 support marks. Market can see some technical recovery and this is most suitable zone to move. Still any rise will just be the relief rally. Stocks has already suffered a lot. Break below 12500 marks will result the test of 12200 marks. I do not prefer to trade on short side from lower levels. Technically if Sensex sustain above 12500 marks then we can see recovery at least towards 13000 marks. Banking and reality stocks has already seen very sharp fall in past few days. For trading one should prefer trade long on technology stocks. Global cues and political news flow can add volatility in any direction so one must trade with caution.

Support - 12500/12296/12080
Resistance - 12790/12940/13160