Market Outlook - The bottom of the Markets are very much near now. Dont initiate fresh short positions by watching panic selling everyday. Yesterdays fall was due to panic only.A Big Bounce back is on the Cards Very Sooon....Operators may turn up the markets by bringing/creating total panic situation among the retail persons.
Nifty (Fut) - Support at 3770/3760 & 3720/3730 levels & Upside Target of 3900 & 3940 levels.
Target for Nifty Fut for July 2008 is 4370 & 4500 by August 2008.
Intraday Calls :-
Reliance Industries - Support around 2012/2007 & 1986 Levels.... resistance around 2090 & 2114 levels...
Reliance Communications - Support around 376-380 Levels & resistance around 410 & 416 levels...
SBI - Support around 996 & 986 levels... & resistance around 1065 & 1080 levels....
ITC - Support around 180.50/181 levels & resistance around 188.80 & 191 levels...
(Recommended to buy around mentioned Support levels by applying Strict SL of 2-3 % below the cost price)
Positional Calls :-
Average your WWIL Long positions in Futures by buying 1 Lot more cmp 19.00-19.50 levels...
Average your long positions in Fut in Sobha Developers too by buying one more Lot at cmp at 260-262 levels...
Buy MRPL in Futures at 45/47 Target 70++ by August End...
Delivery Calls : If you have got money left then Accumulate stocks we have been recommending in last 10 days...or else just buy & sit on it...dont see the prices everyday & get in panic situation.
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