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TRADING STRATEGY FOR 14TH JULY 2010 (Based on technical by O P AGARWAL)     Markets close higher in late rally   The market opened flat yesterday and remained weak till mid afternoon following lower than expected earning numbers for Q1 by the IT bellwether. The market however, saw hectic buying in front line stocks past mid afternoon after strong cues from the European and U S future markets. The indices thereafter moved sharply up and the Sensex surged past the 18K mark once again. The Sensex, which remained choppy initially dipped to a low of 17855 a little past noon but smartly recovered and closed the session gaining 48 points at 17985. The Nifty settled at 5400 its best in over two years gaining 17 points over its previous close. The Nifty touched a low of 5357 in intra day trades yesterday. Interest rate sensitive realty stocks jumped on speculation that the government will soon announce a hike in foreign direct investment in the real-estate sector whereas bank stocks rose on a pick up in credit off take. The market appears positive at present based on global cues coupled with satisfactory progress of monsoon. The readers are however, advised to trade with caution in view of high volatility seen in the market. NIFTY FUTURE (Last close 5417.10) The counter after flat opening yesterday remained choppy till mid afternoon when hectic buying in frontline stocks was noticed following positive opening of European bourses. The counter after taking support exactly at 5358, the level indicated in these columns yesterday spurted to 29th month high at 5421 and finally closed firm near day’s high gaining 35 points. The counter will gain further strength once it trades and remains above 5427.75 whereby it may move up to 5449/5469. Strong support for the NF exists at 5364.25. CENTURY TEXTILES FUTURE (Last close 468.00) The stock after remaining range bound during the past week closed yesterday above its weekly buy signal with high volumes gaining over one and half percent. The stock appears positive on weekly charts and may move up to 473/477 once it trades and remains above 468.75. Strong support for the stock exists at 462.25.  Meanwhile, Century, whose FY10 net grew 43 percent to 3.39 billion rupees on higher revenues, makes cement, denim, paper and yarn and has plans to pump in 20.25 billion rupees to expand cement capacity to 12.5 million tonnes annually by the end of calendar 2012 from 7.8 million tonnes now and another 16.6 billion rupees in its pulp and paper division to set up new plants and buy machinery. Further, the company which has 40 acres (16.2 hectares) of land in Worli in central Mumbai, is constructing two buildings for commercial purposes to be completed in 12-15 months, Dalmia, senior president said recently. The future outlook of the company appears bright. FORTIS HEALTHCARE FUTURE (Last close 155.90) The stock after remaining range bound during the past few trading sessions closed yesterday above its weekly resistance indicating accumulation at current levels. The stock remains positive on charts and may move up to 159/163 once it trades and remains above 156.55. Strong support for the stock exits at 153.55. Meantime, the company is engaged in a takeover battle of Parkway, a renowned medical outfit where the company holds roughly 25% stake and was keen to build a controlling stake in the company before Malaysia's sovereign wealth fund Khazanah made a surprise $835 million offer last month to lift its stake from 23.5% to 51.5%. Parkway operates 16 hospitals across Asia including Singapore, Malaysia, India and China. Its prized assets are Singapore hospitals, Gleneagles and Mount Elizabeth, whose patients include many wealthy businessmen and politicians. The company’s future outlook remains highly bright.   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.