Newsletter dated 16th October,2007

We can give a phrase to Current Indian Stock Markets Movement :-

"Markets are moving up with the help of Steroids only which is Injected by Operators " BE CAUTIOUS !!

Market Analysis : Market Unexpected movement in the upward direction was mainly due to Short Covering by Traders who were waiting for a fall & who built in fresh shorts in the markets during Fridays Fall in the Markets after a long while.Markets are rising up in a momemntum & i believe the Fall will also come in the same fashion in which the rise has taken place.Follow a Principle : Every Upside is followed by a downside also.

We are expecting markets to cool off & Correct before Expiry date which is expected to start from coming Friday or next Monday as traders & operators who have taken & carrying long Leveraged positions in the Market in Last months Expiry and todays month too....they ae expected to Square Off before October month Expiry which is on Next Thursday 25th October 2007.

Newsletter for 16th October 2007 :-

SAIL : Resistance around 274/277/278 Levels Support around 239/236 Levels

STERLITE IND : Resistance around 958/962 & 972/974 Levels Support Existd around 896 & 876 Levels

Maruti Udyog Ltd : Resistance around 1182/1192 Levels & Support Exists around 1032/1026 Levels

ONGC Ltd : Resistance around 1217/1227 Levels & Support Exists around 1167/1152 Levels

TATA STEEL : Resistance around 927/932 & 947/952 Levels & Support Exists around 890/878 Levels

GRASIM : Resistance around 3840/3860 Levels & Supprt Exists around 3760/3740 Levels

NOTE : We Recommend/Advise our Readers that they may Short Above mentioned Stocks around their mentioned above Resistance Levels may be at Resistance 1 & 2 as they wish & APPLY STRICT SL also above 2-3% from their Shorting Price & in Futures Accordingly.

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