niftywatch

July 03^rd  2008

Intraday support & resistance:

S 2	S 1	Pivot	R 1	R 2
3743.40	3834.50	3965.95	4057.05	4188.45

 

Just see the volatility , 3834  to 4100 and back to 3834 and again 3965. 300 points here and there. Market again corrected from rsi trend line. Trend decider is same 3977. major support is at 3814 ( 2006 peak ). If break , support levels may test 3745 and then  3568. if market move northward than levels are 4019 – 4107 – 4247.  stop loss to short position is 4111/-. GOI banned corn exports and curbed shipments of steel, seeking to boost domestic supplies and cool the fastest inflation in 13 years as world commodity prices soar. Govt. is trying hard to curb inflation. Let’s hope this time some effect should reflect. Crude is really cause of worry, trading at its resistance . The global oil industry requires investment of $150 billion a year during the next 15 years for supply to keep pace with demand, India’s oil secretary said. High crude price has widen the shortfall in the nation’s current account also.  INFLATION #s are going to set the trend of the day, so be careful at 12 noon. The monsoon has delivered a surplus of 21 per cent during the first month according to the all-India area-weighted rainfall statistics valid as of July 2. An India Meteorological Department (IMD) , will it improve sentiments.   On political front Former President APJ Abdul Kalam tells SP leader Amar Singh that Indo-US nuclear deal is in the interest of the country, but who will tell to ………? DLF Ltd., India’s biggest real-estate developer, tumbled the most in more than three months after Macquarie Research said the company’s proposed share buyback would divert funds needed for developing projects”. On the other hand its sign of better profitability also. Trend decider of the day for DLF is  396.

 

TRADING CALLS:-

Rpl :- Reliance Petroleum Ltd’s Rs 27,000-crore refinery project in Jamnagar, which will be the world’s sixth largest, is set to go on stream before the December 2008 scheduled date for completion.

Intraday support & resistance:

S 2	S 1	Pivot	R 1	R 2
159.65	163.75	169.20	173.30	178.70

Buy above 169/- s.l 163/- target 170-171-173-179

 

i-flex :- I- Flex announced that Banco BICE, Chile has chosen FLEXCUBE Universal Banking for its core banking operation.

 

Intraday support & resistance:

S 2	S 1	Pivot	R 1	R 2
1233.00	1326.00	1383.00	1476.00	1533.00

Buy with s.l of rs.1310/- target 1474.

 

Balarpur ind.:- Ballarpur Industries Ltd., India’s biggest paper maker, plans to invest about $1 billion in overseas acquisitions and expanding plants at home to quadruple capacity in five years, its finance chief said.

Intraday support & resistance:

S 2	S 1	Pivot	R 1	R 2
30.65	31.40	32.40	33.15	34.15

Buy with s.l of rs.31/- target 33 and 38.

 

Note : keep strict stop loss to all day trading calls and buy either above pivot or at lower level (s2).

 

United phOS :-

Intraday support & resistance:

S 2	S 1	Pivot	R 1	R 2
246.75	257.05	269.40	279.70	292.00

Short on intra day rally target 257/-

 

RELIANCE CAP :-

Intraday support & resistance:

S 2	S 1	Pivot	R 1	R 2
777.60	830.20	902.60	955.20	1027.60

short on intra day rally target 830 – 777 – 731.  S.L 1000/-

NOTE:- KEEP strict stop loss to all day trading calls and sell either below pivot or at intra day rally.

 

DERIVATIVE CALL :-

Buy reliance call of rs.2150/- and reliance put of 2000/-

Note :- Market volatility  will fetch profit at break out.

 

 

 Predict the NIFTY clearing ending 2008, july 31^st  by

 

July 30^th 12 noon and

 

win Rs.1000/-

 

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Best closest predicted entry will get the winning amount  . if there are more than 1 winners, amount will be divided equally. Decision of the management will be final and no participant will have right to challenge it. There is no entry fees.

 

 

 

DISCLAIMER :- We can’t dictate the market. Its an observation only. May , may not hold good. Much depend on govt. policies ,economic & political scenario. Its more of an informatics’ article only. Presenter /writer is not liable or responsible for any personal or financial losses or profits. 

OUTPUT OF UNPA MEET

Last Updated: July 03, 2008 18:36 IST
The key United National Progressive Alliance meet has decided to consult experts on the controversial Indo-US nuclear deal.

The leaders hinted that they are likely to consult former President APJ Abdul Kalam on the issue.

When a journalist said that Kalam has already backed the N-deal, SP leader Amar Singh shot back, “He may have told you so, not us.”

After a nearly four-hour long meeting, leaders of the UNPA told a press conference that they favoured a national debate on the nuclear deal as there were many aspects that needed clarifications.

However, the Samajwadi Party, whose 39 MPs may be crucial to the UPA Government in the Lok Sabha if the Left parties withdraw support, again gave indications of tilting towards Congress when it said “communalism is a bigger danger than the nuclear deal”.

technical : july 03rd 2008

COVER (SHORT POSITIONS BUILD YESTERDAY AT CLOSING) & Buy NIFTY FUTURE @ 3890/- S.L  3865 TARGET  3965- 4015

 

DISCLAIMER :- We can’t dictate the market. Its an observation only. May , may not hold good. Much depend on govt. policies ,economic & political scenario. Its more of an informatics’ article only. Presenter /writer is not liable or responsible for any personal or financial losses or profits.