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TRADING STRATGY FOR 13TH AUGUST 2010 (Based on technical by O P AGARWAL)     Markets close flat despite weaker global cues      The market opened gap down yesterday on weak global cues and remained subdued till early noon when hectic buying in front line stocks led by the SBI pulled up the market to day’s high. The Sensex had earlier fallen below the psychological mark of 18K in choppy trade but for the better than expected SBI earnings for Q1 the negative factors got diluted and the market managed to close flat with positive bias despite weakening global trend. The Sensex, finally closed with a meager gain at 18073 after making a high of 18113 and a low of 17914 in intra day trades. The Nifty closed the session yesterday at 5416 with paltry gain of 4 points. The overall market sentiment appeared bearish on reports of a rise in food inflation and falling industrial production data coupled with the US Fed statement that the economic recovery is slowing and needs fresh stimulus. Readers are therefore advised to trade with caution in view of uncertain market conditions. NIFTY FUTURE (Last close 5419.70) The counter after gap down opening yesterday on weak global cues remained range bound till early noon when hectic buying in front line stocks led by SBI pulled up the NF to 5431 the resistance level indicated in these columns and slipped back. The counter finally managed to close above its short term weekly resistance with marginal gain. The counter to gain strength needs to trade and remain above 5433.75 whereby it may move up to 5457/5475. Strong support for the NF exists at 5397.25 which if breached decisively with volumes then NF may slide to 5379/5364. R GAIL FUTURE (448.65) The company is a provider of natural gas having more than 7K kms of high pressure trunk pipeline, seven LPG gas processing units to produce 1.2 million metric ton per annum (MMTPA) of LPG and other liquid hydrocarbons and many more related to the gas. Net profit of GAIL rose 35.23% to Rs 886.88 crore in the quarter ended June 2010 as against Rs 655.84 crore during the previous quarter ended June 2009 despite a massive rise in the subsidy sharing burden. The stock closed flat yesterday after remaining range bound during the past two trading sessions. The stock appears positive on charts and may move up to 453/456 once it trades and remains above 449.25. Strong support for the stock exists at 445.25. MRPL FUTURE (Last close 80.15) The company is a subsidiary of state-run explorer Oil and Natural Gas Corp having a 236,400-bpd coastal refinery in the southern Karnataka state. The stock of the company took a hit last month after the company reported a dip in net profit on low refining margins, foreign exchange variation and inventory loss in Q1 June 2010. The company will open 28 fuel stations in 2011/12 and 95 stations in 2012/13, its chairman R.S. Sharma told reporters last month. The company is also evaluating sale of fuel by the local arm of Royal Dutch Shell .Meantime, the stock of the company after consolidating during the past five trading sessions closed yesterday above its weekly resistance with good volumes. The stock appears positive on charts and may move up to 83/85 once it trades and remains above 80.50. Strong support for the stock exists at 78.15.   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.