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TRADING STRATEGY FOR 16TH JULY 2010 (Based on technical by O P AGARWAL)     Markets close flat on profit taking   The market after flat opening yesterday remained range bound throughout the session except minor rally around mid afternoon which too failed to sustain and the indices drifted lower to close in the negative albeit with negligible loss. Market participants appeared to prefer in the sideline in the absence of any positive trigger and on concerns of global economy following downward revision of U S GDP outlook. Meantime, according to the data released by the government yesterday, annual food inflation inched up to 12.81% for the week ended July 3, while fuel inflation shot up to 14.27%, reflecting the hike in oil prices. In the previous week food inflation was at 12.63% and fuel inflation at 18.02%. It is feared that to contain inflation to reasonable level the apex bank in its quarterly review meet by month end may revise upward interest rates. Finally the Sensex, closed the session yesterday losing a paltry 28 points at 17909 after making a low of 17858 and a high of 17978. The Nifty closed at 5378 losing a meager 7 points after touching a high of 5399.20 and a low of 5360.60 during the session. Readers are advised to trade with caution and remain stock specific. NIFTY FUTURE (Last close 5381.60) The counter after flat opening yesterday remained range bound throughout the session except a minor rally around mid afternoon which too failed to sustain and the NF drifted lower to end the session flat near day’s low amid moderate volatility and intra day swing of around 45 points. The counter may gain strength and recover once it trades and remains above 5397.75 whereby it may move to 5414/5433. Strong support for the NF exists at 5359.25 which if breached decisively with volumes then NF may slide to 5332/5314. SUN TV FUTURE (Last close 435.60) The company is engaged in producing and broadcasting satellite television and radio software programming in the regional languages of South India. The Company’s satellite beams channels in four South Indian languages: Currently, it airs 42 FM radio stations across the country. Further, the net profit of the company rose 29.80% to Rs 567.38 crore in the year ended March 2010 as against Rs 437.11 crore during the previous year ended March 2009. Meantime, the stock of the company after consolidating at current levels closed yesterday above its weekly resistance with moderate volumes. The stock appears attractive at CMP and may move up to 441/446 once it trades and remains above 437.50. Strong support for the stock exists at 432.25. DIVIS LAB FUTURE (Last close 774.90) The company is a manufacturer of Active Pharmaceutical Ingredients (APIs) and Intermediates having product portfolio consisting of  two segments: Generic APIs and Custom Synthesis of APIs, intermediates and specialty ingredients for pharma giants. The company has three multi-purpose manufacturing facilities with a total reactor capacity of 4000 cubic meter and all support infrastructures like Utilities, environment management and safety systems. The Company has two Subsidiaries: Divis Laboratories (USA) Inc. and Divi’s Laboratories Europe AG looking after manufacturing and marketing of Neutraceutical products in North American and European Countries. The company’s profit rose 70.62% to Rs 184.05 crore in the quarter ended March 2010 as against Rs 107.87 crore during the previous quarter ended March 2009. Meantime, the stock of the company after consolidating during the past fortnight closed yesterday above its weekly resistance with moderate volumes. The stock appears positive on charts and may move up to 781/786 once it trades and remains above 775.75. Strong support for the stock exists at 769.25.   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.