THURSDAY – 05-06-08 – 8.55 AM

MARKET VIEW

US MARKET CLOSED WITH MIXED SITUATION, AND ALL ASIAN MARKETS ARE DOING IN DOWN TREND, HERE EXPECT FLAT OPEN, OR MILD DOWN SIDE OPEN,(ACCORDING TO THE ASIAN MARKET STATUS AT AROUND 9.55 AM OUR MARKET WILL OPEN), AS I TOLD YESTERDAY DUE TO RATE HIKE IN PETROLEUM PRODUCTS, MARKET ASSUMED ABOUT INFLATION AND DID DOWN SIDE, AND NOW WE HAVE TO WATCH 2 POINTS THAT IS 15050 TO 15000 AND 14670 FOR SENSEX, 4440 TO 4400 FOR NIFTY, SO MINOR SUPPORT IS AT 15K RANGE, AND MAJOR SUPPORT IS AT 14670 RANGE (+ OR – 100 TO 200 POINTS ON REVERSAL BASIS), IF IT BREAKS AND CLOSE BELOW THIS LEVELS FOR 3 DAYS IN –VE MOOD, THEN I EXPECT SOME DEEP CORRECTION LIKE 12000 TO 12500 RANGE, BEFORE THAT THERE WILL BE SOME IMPORTANT SUPPORT AT 14000 TO 13500 RANGE , FOR NIFTY BELOW JAN LOW (4400) ON CLOSING BASIS, THEN EXPECT ANOTHER 1000 POINTS IN DOWN SIDE, LIKE 3350 TO 3200 RANGE, SO IF U WANT TAKE HIGH HIGH HIGH RISK U CAN BUY FOR DELIVER AT AROUND 15K RANGE (BUT NOT ADVISABLE), AND KEEP THE S/L AS 14670 ON CLOSING BASIS, BUT I EXPECT REVERSAL FROM 14670 TO 14500 (IF CLOSE BL 14670 FOR 3 DAYS, THEN PROBLEM, IF IT GOES BL ON REVERSAL BASIS, IT DOES NOT A PROBLEM), AS PER OUR COUNTRY ECONOMY CONDITION, MARKET WILL DO VOLATILE TRADE IN THIS YEAR