Normal
0

MicrosoftInternetExplorer4

st1\:*{behavior:url(#ieooui) }

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman";}

TRADING STRATEGY FOR 9TH AUGUST 2010 (Based on technical by O P AGARWAL)   Global cues to set the trend    The market ended the week in the positive with the Sensex closing at 18144 gaining 276 points. The Sensex, last week had a mixed session posting gains on the first three trading sessions and closing in the negative on the last two sessions. The Nifty closed 72 points or 1.3% up at 5,439. The market this week will be keenly watching some of the important Q1 results prominent among them being SBI, Bharti, Tata Motors, Tata Power, Ranbaxy etc.; The data on industrial production due to be released on Thursday could also provide some short term market direction. Meantime, investors feel that the apex bank may consider sooner than later hiking the rates once again to contain inflation. Meantime, the market appears with positive bias with the monsoon progressing quite satisfactorily and auto numbers for July remaining quite encouraging. However, the markets may get impacted with the volatility in the global markets. NIFTY FUTURE (Last close 5442.45) The counter closed the week gaining over a percent amid moderate volatility and intra week swing of more than 80 points. The counter this week may remain in the range of 5386-5498, break above NF may move further to 5517/5537 or else break below NF may slide to 5367/5348. For today’s trading the counter to gain strength needs to trade and remain above 5457.75 whereby it may move up to 5472/5484. Strong support for NF exists at 5427.25 which if breached decisively with volumes then NF may slide to 5412/5394. JINDAL STEEL & POWER FUTURE (Last close 628.95) The Company is one of the largest manufacturers of iron & steel products together with generation of power. The company’s net profit rose 45.20% to Rs 435.69 crore in the quarter ended June 2010 as against Rs 300.06 crore during the previous quarter ended June 2009. The stock after consolidating closed the week flat with marginal gain. The stock appears positive on charts and may move up to 637/642 once it trades and remains above 630.75. Strong support for the stock exists at 624.25.   CESC FUTURE (Last close 400.85) The company last month achieved the financial closure of 600 MW thermal power at Haldia costing 3000 crores. The company has plans to set up power plants in Bihar, Orissa and Jharkhand and further the company is moving ahead with a solar power project in Rajasthan with initial size of 200MW costing around 1600 crores. In 2013, CESC will add 1200 MW from Haldia (600MW and Chandrapura 600 MW). Further, the company has plans to add two lakh square feet of space at its retail chain Spencer’s and is aiming a turnover of Rs 950 crore during the current fiscal. The prospects of the company appear bright. Meanwhile, the stock after moving range bound during the previous week closed with marginal gain. The stock appears positive on charts and may move up to 406/410 once it trades and remains above 401.75. Strong support for the stock exists at 397.25.   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.