TUESDAY - 13-05-08, 8.45 AM

MARKET VIEW
US MARKET CLOSED WITH UP SIDE, AND ALL ASIAN MARKETS ARE DOING IN UP SIDE, EXCEPT SHANGHAI, SO HERE EXPECT FLAT OPEN OR UP SIDE OPEN, AS WE DISCUSSED YESTERDAY MARKET DID IN UPSIDE, SO PLEASE THINK, THIS IS RELIEF RALLY, AS PER THE FIBONACCI RETRACEMENT RULES, NOW MARKET TOOK SUPPORT AROUND 50%, AND TOOK SUPPORT NEAR TREND LINEN ALSO, AND 61.8% IS STILL THERE, SO I EXPECT THIS RALLY WILL TAKE RESISTANCE AROUND 17300 TO 17500 RANGE IN SENSEX, 5150 TO 5225 IN NIFTY, IF IT SUSTAINS ABOVE THIS LEVELS ON CLOSING BASIS FOR 2 DAYS THEN NEXT UP SIDE POSSIBLE UP TO 18300, AND 5550, SO 17300 TO 17500, AND 5150 TO 5225 AREA IS IMPORTANT, SO BOOK UR LONGS, IN THIS AREA, AND WAIT FOR THE CLEAR DIRECTION

SENSEX VIEW
TECHNICALLY SENSEX HAS SOME RESISTANCE AROUND 16900 TO 16970 RANGE, IF SUSTAINS ABOVE, THEN NEXT UP SIDE TARGET WILL BE AROUND 17300 TO 17500, AND SENSEX HAS SOME SUPPORT AROUND 16800


SENSEX SUP & RES
ABOVE 16900 TAR 16967, 17070, 17150, 17250, 17300, 17400, 17500
BELOW 16800 TAR 16678, 16590, 16450, 16220 TO 16198

NIFTY VIEW
TECHNICALLY NIFTY HAS SOME RESISTANCE AROUND 5025 RANGE, IF SUSTAINS ABOVE THEN NEXT UP SIDE POSSIBLE UP TO 5150 TO 5225

NIFTY SUP & RES
ABOVE 5025 TAR, 5056, 5090, 5110, 5160, 521 TO 5230
BELOW 4965, TAR 4913, 4889, 4870, 4850

NOTE:
DON’T TAKE ANY SUP&RES IN OPENING PRESSURE, USE IT AFTER 10.15 AM OR 10.3 AM

SAFE TRADES VIEW
US MARKET CLOSED WITH UP SIDE, AND ALL ASIAN MARKETS ARE DOING IN UP SIDE, EXCEPT SHANGHAI, SO HERE EXPECT FLAT OPEN OR UP SIDE OPEN, AS WE DISCUSSED YESTERDAY MARKET DID IN UPSIDE, SO PLEASE THINK, THIS IS RELIEF REALLY, AS PER THE FIBONACCI RETRACEMENT RULES, NOW MARKET TOOK SUPPORT AROUND 50%, AND TOOK SUPPORT NEAR TREND LINE ALSO, AND 61.8% IS STILL THERE, SO I EXPECT THIS RALLY WILL TAKE RESISTANCE AROUND 17300 TO 17500 RANGE IN SENSEX, 5150 TO 5225 IN NIFTY, IF IT SUSTAINS ABOVE THIS LEVELS ON CLOSING BASIS FOR 2 DAYS, THEN NEXT UP SIDE POSSIBLE UP TO 18300, AND 5550, SO 17300 TO 17500, AND 5150 TO 5225 AREA IS IMPORTANT, SO BOOK UR LONGS, IN THIS AREA, AND WAIT FOR THE CLEAR DIRECTION, STOCK SPECIFIC MOVE WILL CONTINUE, TRADERS CAN BOOK UR PROFIT, SHORT TERM DELIVERY TRADERS CAN BUY AT DECLINE WITH 2 TO 3 DAY VIEW ONLY, AND DON’T FORGET TO BOOK UR PROFIT, WE WILL BUY IT AT DECLINE, AS OF MY KNOWLEDGE, MARKET WILL TEST 16190 RANGE SOON, SO BUY AT THAT RANGE FOR DELIVERY, BUT IF MARKET SUSTAINS ABOVE 17500 WITH GOOD VOLUME, THEN, THIS RANGE WILL NOT COME

BEST OF THE DAY
TAJ GVK BUY NEAR 141, S/L 139 TAR 169
BIHAR TUBES AND BRUSH MAN IND LOOKS VERY GOOD FOR SHORT TERM DELIVERY, SO BUY AT EVERY DECLINE, I WILL TARGET SOON

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