CALLS FOR 20TH MARCH 2009

After the Obamas Stimules package was delivered Dow broke the level 7500 and the crucial level 7000.now Dow has pulled back to 7500 which is very crucial .if unable to sustain can test 7000 and break down can be danger. if able to move higher will be good for the Asian Mkts.Resistance(FOR DOW) than will be at 7506-7935-8175(POSTED WHEN DOW JONES WAS ABT TO START YESTERDAY NIGHT)


As said (YESTERDAY) and expected the selling pressure came with volatility and immediately short covering emerged near to support levels.
Technically the markets are losing momentum and looks tired for any up move ,so any up move will see some selling pressure and profit taking.
As we move forward in the f/o expiry due next week , high volatility and fluctuations are likely to persist and more profit booking and selling pressure could be witnessed.

Support for Nifty at 2780-2760 and
Resistance at 2825-2860 (CASH LEVEL)

PATEL ENGG Buy IF BREAKS 125 TGT130, 133 SL122

BUYING EXPECETD IN GAIL IF BREAKS 224.50

BHARTI SHIP Sell below 50 SL 51 lower targets 49, 48 there after free fall to 46

CROMPTON GREAVES Sell below 130 SL133 lower targets up to 123

Dabur
Seems a buy above 95.5 for a small tgt of 99-101.

Stocks to watch
Sterlite , hdfc looks good
Hero Honda looks weak