BUY & SELL

Author: RAMESH CHANDRA - TAMILNADU

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Fireworks for the week 08th MAR 2010- 12th MAR 2010

MARKET OUTLOOK FOR THE WEEK

POST BUDGET MARKET – CONSOLIDATION EXPECTED BEFORE NEXT MAJOR RALLY: 

As we expected, seen a Populist Budget which resulted a good come back in markets…

We have to watch Global Cues, Industrial Data & Advance Tax Announcement in coming week – which are all going to act major roll…

We are expecting after a consolidation there will be more upside in markets – So try to use any dips to BUY specific stocks which are expected to perform well based on news or technical…

SENSEX 16994

TECHNICAL VIEW (Week 08.03.10 – 12.03.10):

This week 17092 & 16896 will act as “KEY LEVELS” – if it maintains above 17092 or maintains below 16896 levels will decide the trend of market in this week…

SUPPORTS: 16896, 16657, 16515 & 16314…

        RESISTANCES: 17092, 17261, 17449 & 17598…

SENSEX FOR THE DAY 08.03.10:

Today, if SENSEX maintains above 16896 will give upside target of 17173-17261 levels… Or else it may slide up to 16742-16657 levels…

SUPPORTS: 16896, 16809, 16742 & 16657…

        RESISTANCES: 17044, 17092, 17173 & 17261…

NIFTY 5088

TECHNICAL VIEW (Week 08.03.10 – 12.03.10): 

This week 5118 & 5059 will act as “KEY LEVELS” – if it maintains above 5118 or maintains below 5059 levels will decide the trend of market in this week…

       SUPPORTS: 5059, 4986, 4943 & 4882…

       RESISTANCES: 5118, 5169, 5226 & 5271…

NIFTY FOR THE DAY 08.03.10:

Today, if NIFTY maintains above 5059 levels – then it will give upside target of 5142-5169 levels… Otherwise it may slide up to 5011-4986 levels …

       SUPPORTS: 5059, 5032, 5011 & 4986…

       RESISTANCES: 5103, 5118, 5142 & 5169…

WEEKLY PICK

ARTSON ENGINEERING Rs.54 CODE 522134

BUY ARTSONENGG between 52-54 with consideration of Rs.50 as immediate & Rs.48 as major support For Our Extreme Short Term Targets Rs.68-75… Strong comeback / Turn-Around story, which accelerates heavy accumulation in this stock in last few days – Can Zoom up in coming days - Buy for 2-3 weeks & Enjoy…

WEEKLY TRADING PICKS

OUR BUDGET SPECIAL MEGA HIT CALLS

1. POSITIONAL BUY NIFTY @ 4820-4830 (25.02.2010) BOOKED PROFIT @ 4960-4970 (26.01.2010)

2. POSITIONAL BUY LICHOUSING @ 720 (25.02.2010) BOOKED 100% PROFIT @ 785-790 (04.03.2010)

3. BUY RELINFRA @ 1017 (04.03.2010) MADE TOP @ 1042 (05.03.2010)

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Disclaimer: - All the views in this newsletter about market and stock movement are for information purpose only. Recommendations, opinions, suggestions are given with the understanding that readers acting on the information assume all risks involved. Stock market activities are subject to market risk. These recommendations are on the basis of technical analysis. We are not responsible for loss and profits due to the above-mentioned recommendations. Information is obtained from various sources, which are deemed to be reliable but are not guaranteed as to accuracy and completeness.