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TRADING STRATEGY FOR 19TH JULY 2010 (Based on technical by O P AGARWAL)     Global cues to set the trend this week     The market ended the previous week higher with positive bias on the back of good Q1 earning reports and posted gains on three out of five trading sessions. Market participants seemed buoyant last week on good Q1 results and satisfactory progress of monsoon rains. Further, the decision of SEBI to allow physical settlement of stock derivatives was also taken positively by the investors and aided the sentiment. The Sensex, finally ended the week gaining 122 points and the Nifty gained 42 points. The market this week may be influenced by the Q1 results prominent among them are HDFC Bank, ACC, ITC, Wipro, BHEL, JP, Bajaj Auto, Maruti etc., Action therefore, may remain stock specific for the better part of the week.  On the economic front, inflation rose 10.55% in June 2010. Though the rise was lower than expected, it was still higher than May's rise of 10.16%. Meantime, the DOW and NASDAQ slipped in deep red on Friday last losing 262 and 70 points respectively following a sharp drop in consumer sentiment reading in the month of July. Some weak earning reports from Bank of America, Citigroup and GE also contributed to the decline. Back home, our markets today may open lower on weaker closing of U S markets, however, good corporate results could help the markets from sharp slide.      NIFTY FUTURRE (Last close 5398.25) The counter closed the week gaining 44 points amid high volatility and intra week swing of around 100 points. The counter remains with positive bias but certain indicators appear stretched discounting up move. The NF this week may oscillate between 5329-5449, break above NF may move up to 5477/5508 or else break below NF may slide to 5307/5277. The NF today may possibly open lower by one percent following weaker closing of U S markets however, one may buy NF if it so opens at such levels with strict stop of 5337.75.     TECH MAHINDRA FUTURE (Last close 770.70) The company is a global systems integrator and business transformation consulting firm focused on the communications industry. With the convergence of media and telecom, the changing landscape of the telecom industry is becoming extremely competitive. The company’s stock after remaining range bound closed the week flat with marginal loss. The stock appears positive on charts and may move up to 774/778. The stock may be bought on dips with strict stop of 763.25.   FINANCIAL TECH FUTURE (Last close 1345.30) The stock after remaining range bound during the past five trading sessions closed the week losing over 2% albeit with low volumes. The stock appears weak on charts and may slide further on profit taking to 1334/1326 once it trades and remains below 1342.25. Strong resistance for the stock exists at 1349.75.   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.