WEDNESDAY – 11-06-08 – 8.50 AM

MARKET VIEW

US MARKET CLOSED WITH FLAT AND MIXED SITUATION, ALL ASIAN MARKETS ARE ALSO DOING IN FLAT AND MIX SITUATION, HERE EXPECT SOME FLAT OPEN OR MILD UP SIDE OPEN, LAST 2 DAYS MARKET HAD DONE SOME BUYING PRESSURE FROM DII’S SIDE (FII’S STILL IN SELLING MODE), TODAY ALSO WE HAVE SOME UP SIDE UP TO 15200, IF SUSTAINS IT WILL TRY TO FILL THE GAP UP TO 15300 TO 15400 RANGE, SO DAY TRADERS CAN BUY AT LOW AND SELL AT HIGH, SOME SELLING PRESSURE WILL COME AT HIGHER SIDE AUTOMATICALLY, SO TRADE CARE FULL, NOW SENSEX HAS SOME GOOD SUPPORT AROUND 14100 RANGE AND VERY GOOD CHANNEL SUPPORT AROUND 13800 TO 13750 RANGE, IF IT TAKES SUPPORT FROM THIS LEVEL, IT MAY GO UP TO 17500 RANGE, IF NOT ( IF IT CLOSE BELOW 13500 WITH STRONG VOLUME,) NEXT SUPPORT IS AT 12500, TO 12000, SO DELIVERY TRADERS CAN CONCENTRATE ON UR STOCKS AT THE POINTS OF 14100 TO 13700 RANGE AND KEEP THE S/L AS 13500 IN SENSEX, WITH OUT FII’S PARTICIPATION, OUR MARKET DOES NOT DO ANY THINK, SO KEEP I ON ABOUT THAT ALSO, STILL OIL, INFLATION, CRR RATE HIKE, POLITICAL INSTABILITY, TECHNICALLY WEAK SENTIMENT, ARE THE BIG PROBLEMS FOR US, EVEN THOUGH, BIG HANDS ARE USE THIS CONFUSIONS TO BUY, SO TRY TO BUY STEP BY STEP, NOW ONGC, RIL, RELCAP, REL, IDFC, BOMBAY DY, RCOM, ALL ARE GOOD FOR FAST MOVE, TRY TO BUY SMALL BY SMALL WITH STEP BY STEP

SENSEX VIEW:

SENSEX HAS SOME VERY GOOD CHANNEL SUPPORT AROUND 13750 TO 13500 RANGE, IF IT BREAKS THEN BIG CORRECTION WILL COME, MAY BE 12500 TO 12000 RANGE,

SENSEX SUP&RES

BELOW 14845 TR 14670 TO 645, 14550 TO 500, 13750
ABOVE 14980 TR 15100, 15200, 15320 TO 350, 15500

NIFTY SUP&RES

ABOVE 4485 TR 4530, 4565, 4625
BELOW 4410 TR 4370, 4324 TO 4300, 4150, 4000

BEST OF THE DAY

ALL PHARMA STOCKS ARE STILL LOOKS GOOD BUY AT DECLINE

GLENMARK AB 700 TR 725, 750, S/L 692
DIVIS LAB AB 1540 TR 1560, 1600, 1625++, S/L 1524
BOMBAY DY SUP AT 615 TO 610 RANGE WITH S/L OF 600 TR 650, 700
REL CAP, RIL IDFC, ONGC ARE IN SUPPORT RANGE BUY