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TRADING STRATEGY FOR 10TH AUGUST 2010 (Based on technical by O P AGARWAL)     Markets close firm on positive global cues   The market after opening flat and remaining range bound till early noon yesterday rebounded on sustained buying in front line stocks led by banking, reality and telecom and gained in strength as the session progressed on expectation that the economy will improve further in the coming quarters. Stocks from the metal, auto and consumer durables sectors remained prominent gainers together with IT, capital goods, power and PSU. The Sensex, after hitting a high of 18309 in closing hours finally closed the session gaining 143 points at 18287 while the Nifty closed with a gain of 46 points at 5486 near day’s high of 5492. The market breadth remained strong throughout the session as out of 3072 stocks traded on BSE, 1958 stocks recorded gains and 1002 stocks declined, while 112 stocks ended flat. NIFTY FUTURE (Last close 5482.00) The counter after flat opening yesterday closed in the positive gaining 39 points amid moderate volatility and intra day swing of more than 50 points. The counter appears positive on charts and may move further up to 5518/5540 once it trades and remains above 5498.75. Strong support for the NF exists at 5464.25 which if breached decisively with volumes then NF may slide to 5445/5433. NALCO FUTURE (Last close 424.10) The stock after consolidating during the past week closed yesterday above its weekly resistance gaining more than 1.5% over its previous close. The stock remains positive on charts and may move up to 427/431 once it trades and remains above 424.75. Strong support for the stock exists at 420.25. UNITED PHOSPHORUS FUTURE (Last close 186.80) The stock after moving range bound during the previous week closed yesterday above its weekly resistance gaining over a percent with good volumes. The stock appears positive on weekly charts and may move up to 190/193 once it trades and remains above 187.00. Strong support for the stock exists at 184.25.   DEAR READERS, PLEASE WATCH THE MARKET TREND AND USE YOUR OWN DISCRETION BEFORE TAKING A TRADE. Protect profits with trailing stops and cut losses fast. Avoid adding contracts in loss making trades Visit         www.bazaarbhavishya.com regularly Email:       opagarwal805@gmail.com Mobile:  09825029446   Disclosures:  At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be. Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.