31-12-2008

Market is showing strength. So buy on any declines. Sensex likely target 10083.

Sensex Resistance 9838-9911-10083-10188. Support 9565-9515-9320.

Nifty Resistance 3019-3046-3110. Support 2952-2904-2886-2836.

Buy Rel Cap 558 SL 541 Tgt 596-604-654.

Buy King Fisher 39 SL 37 Tgt 43-45-47.

Buy Jet Air 200 SL 192 Tgt 212-226.

Buy RCom 228 SL 220 Tgt 242-251.

Buy Idea 54 SL 52 Tgt 58-65.

Buy Renuka 70 SL 67 Tgt 73-82.

Buy Mercator 32 SL 30 Tgt 35-38.

Buy Sun TV 184 SL 178 Tgt 190-196-202.

Buy NiiT Tech 67 SL 64 Tgt 71-76.

Buy KS Oil 54 SL 51 Tgt 58-60.

Buy Suzlon 60 SL 57 Tgt 66-69.

Buy Baj Hind 66 SL 63 Tgt 70-72.

Buy Bal CHini 48 SL 46 Tgt 51-53-58.

Buy LITL 151 SL 146 Tgt 160-171.

Buy Bharti Ship 74 SL 71 Tgt 79-82.

30-12-2008

Market likely to be range bound with a mild positive bias.


Sensex Resistance 9586-9631-9706-9838. Support 9412-9314-9226-9162.


Nifty Resistance 2940-2961-3046. Support 2865-2812-2767-2714.


Buy Essar Oil 86 SL 82 Tgt 92-97.


Buy RPL 88 SL 85 Tgt 92-97.


Buy Cairn 172 SL 165 Tgt 178-184-189.


Buy GVK Power 21.25 SL 20.30 Tgt 23.30-24.15-25.80.


Buy RNRL 54 SL 53 Tgt 57-59-61.


Buy IDFC 66 SL 63 Tgt 70-73.


Buy Jet Air 190 SL 185 Tgt 197-204.


Buy Suzlon 60 SL 58 Tgt 63-66-69.


Buy LIC Hsg 224 SL 218 Tgt 231-237.


Buy BPCL 379 SL 374 Tgt 385-389.


Buy IOC 422 SL 412 Tgt 430-434-442.


Buy RIL 1246 SL 1232 Tgt 1267-1282.

29-12-2008

Market is likely to trade with a negative bias as the market has broken and closed below imp support levels. So go short at higher levels.

Sensex Resistance at 9502-9633-9911. Support 9270-9028-8909-8726.

Nifty Resistance 2884-2922-2960. Support 2844-2812-2700.

Sell Bhel 1300 SL 1325 Tgt 1282-1269-1242.

Sell L&T 744 SL 769 Tgt 695-680.

Sell TCS 471 SL 480 Tgt 460-445.

Sell INFOSYS 1109 SL 1132 Tgt 1077-1040.

Sell Bharti Airtel 686 SL 698 Tgt 674-660-649.

Sell HDFC Bank 972 SL 995 Tgt 942-920.

Sell ONGC 642 SL 671 Tgt 612-597.

Sell SAIL 71 SL 75 Tgt 64-61.

Some stocks likely to bounce are

Buy RPL 84 SL 79 Tgt 89-92.

Buy Jet Air 185 SL 177 Tgt 195-204.

26-12-2008

The long weekend vacation will be see a reduction in volumes. So dont expect much movement on either side.

Sensex Resistance 9633-9696-9746-9838. Support 9502-9436-9364-9281.

Nifty Resistance 2945-2968-3020.Support 2884-2860-2835-2812.

Buy HPCL 282 SL 276 Tgt 290-301.

Buy BPCL 385 SL 374 Tgt 400-419.

Buy IOC 413 SL 408 Tgt 426-434.

Buy Arvind 16.85 SL 15.90 Tgt 18-20.

Buy ALok 17.85 17 Tgt 19-20.

Buy KS Oil 54 SL 53 Tgt 57-60.

Buy SBI 1285 SL 1260 Tgt 1314-1324-1352.

Buy RNRL 51 SL 50 Tgt 56-59.

28-11-2008

Market will discount the current Terrorist attack, so please take advantage if the market offers a knee jerk reaction.

Sensex Resisrance 9096-9162-9236-9297. Support 8866-8753-8649-8540.

Nifty Resistance 2772-2791-2860-2910. Support 2705-2671-2643.

Buy IVRCL Infra 136 SL 125 Tgt 141-152.

Buy Sail 68 SL 64 Tgt 71-76.

Buy RPower 113 SL 107 Tgt 116-118-121.

Buy Essar Oil 71 SL 68 Tgt 77-80-82.

Buy Cairn 139 SL 133 Tgt 144-149.

Buy GTL Infra 40 SL 38 Tgt 42-44-46.

Buy Orchid Chem 82 SL 79 Tgt 87-90-98.

Buy Hindalco 52 SL 49 Tgt 54-58.

Buy Tanla 64 SL 61 Tgt 69-74-81,

26-11-2008

Market will have its movement up and down. Dont get stuck in any position. Market will move in a narrow range.

Sensex Resistance 8807-8864-8985. Support 8608-8442-8316.

Nifty Resistance 2685-2725-2777. Support 2622-2539-2502.

Buy KS Oil 42 SL 41 Tgt 44.25-48.00.

Buy Hero Honda 742 SL 730 Tgt 758-769.

Buy BPCL 333 SL 325 Tgt 339-347.

Buy HPCL 237 SL 233 Tgt 246-251.

Buy MTNL 71 SL 67 Tgt 75-79.

Buy SAIL 63 SL 61 Tgt 67-71.

Sell SBI 1071 SL 1101 Tgt 1030-1006.

Sell IBReal 88 SL 92 Tgt 76-71.

25-11-2008

Market will continue its upward journey. Todays strategy will be to buy on dips.

Sensex Resistance 9120-9188-9236-9361. Support 8802-8701-8499-8316.

Nifty Resistance 2740-2772-2860-2884. Support 2633-2574-2502.

Buy RPower 111 SL 108 Tgt 118-123.

Buy RPL 74 SL 71 Tgt 78-82.

Buy Rel Cap 464 SL 447 Tgt 492-505.

Buy Jindal Steel 702 SL 683 Tgt 732-748-771.

Buy Sail 62 SL 60 Tgt 65-68-76.

Buy GTL Infra 39 SL 37 Tgt 42-44.

Buy Deccan Chro 46 SL 44 Tgt 48-52-55.

Buy Hindalco 51 SL 50 Tgt 55-58.

Buy Sterlite Ind 215 SL 209 Tgt 225-239-252.

Buy Nalco 181 SL 172 Tgt 189-206.

Buy Infosys 1196 SL 1162 Tgt 1258-1271.

Buy TCS 519 SL 504 Tgt 535-552-566.

Buy NTPC 153 SL 151 Tgt 159-165.

Buy HPCL 242 SL 234 Tgt 250-260.

Buy BPCL 336 SL 332 Tgt 347-354.

Buy IOC 408 SL 387 Tgt 416-431.

Buy Bhel 1302 SL 1278 Tgt 1322-1343-1379.

24-11-2008

Market is likely to continue moving upwards but not without stumbling blocks provided in the form of Volatility.

Sensex Resistance 9061-9263-9361-9435. Support 8722-8653-8557-8442.

Nifty Resistance 2743-2763-2835-2860. Support 2622-2568-2539-2509.

Buy RPL 73 SL 71 Tgt 78-82.

Buy SAIL 62 SL 58 Tgt 67-76.

Buy IVRCL INFRA 131 SL 123 TGT 141-156-169.

Buy BPCL 327 SL 319 Tgt 333-337-345.

Buy IOC 380 SL 372 TGT 392-409.

Buy HPCL 228 SL 221 Tgt 234-241.

Buy Nagar Cons 59 SL 56 TGT 65-69.

Buy Suzlon 49 SL 47 Tgt 53-55.

Buy TATA MOTORS 133 SL 130 TGT 143-150.

Buy KOTAK BANK 309 SL 296 TGT 327-345.

Buy GVK Power 14 SL 13 Tgt 16-18.

Buy NTPC 150 SL 145 Tgt 156-160.

Buy Cairn 136 SL 129 Tgt 144-149.

Buy Kalindee 165 SL 163 Tgt 178-190.

21-11-2008

Market likely to continue some pull back at the start of the trade. But Volatility will be high so trade carefully.

Sensex Resistance 8540-8629-8726-8909. Support 8368-8316-8181-7921.

Nifty Resistance 2611-2634-2715-2794. Support 2521-2502-2451-2365.

Buy BPCL 311 SL 305 Tgt 321-329.

Buy HPCL 222 SL 214 Tgt 229-234.

Buy Ind Info 40 SL 38 Tgt 43-47.

Buy Nag Const 55 SL 52 Tgt 58-62.

Stocks like HCC, SBI, Suzlon & Maruti look positive.

20-11-2008

Market headed lower due to weak global markets.

Sensex Resistance 8827-8931-9117. Support 8495-8252-7921.

Nifty Resistance 2666-2697-2771. Support 2497-2376-2288.

Sell HDFC 1366 SL 1382 Tgt 1312-1241-1205.

Sell HDFC Bank 884 SL 925 Tgt 856-823.

Sell Satyam 233 SL 244 Tgt 224-213.

Sell Educomp 1930 SL 1982 Tgt 1832-1655-1525.

Sell Mphasis BFL 155 SL 159 Tgt 149-137.

Sell Reliance 1132 SL 1152 Tgt 1098-1070-994.

Sell ICICI 348 SL 359 Tgt 336-327.

Sell L&T 732 SL 747 Tgt 719-680.

Sell Rel Cap 458 SL 487 Tgt 430-394.

Sell Bhel 1230 SL 1267 Tgt 1164-1086.

10-11-2008

Market will open higher and then as usual Volatility will takeover from there. But market looks

exciting from stock specific point of view.

Sensex Resistance 10100-10166-10239-10482. Support 9704-9631-9582.

Nifty Resistance 3047-3068-3162. Support 2860-2747-2583.

Buy KS Oil 42 SL 39 Tgt 47-49-54.

Buy Tata Tele 16 SL 15 Tgt 17.40-19.00.

Buy GMR Infra 67 SL 63 Tgt 76-79.

Buy Gitanjali 90 SL 83 Tgt 97-105-111.

Buy RIIL 428 SL 411 Tgt 453-488.

Buy IB Real 157 SL 143 Tgt 167-178.

Buy Rajesh Exp 30 SL 28 Tgt 33-36.

Buy Neyvelli Lig 64 SL 60 Tgt 68-75.

Buy Sintex 212 SL 208 Tgt 238-248.

Buy Deccan Chro 45 SL 42 Tgt 48-52.

Buy HCC 57 SL 52 Tgt 61-65-70.

Buy UBI 155 SL 147 Tgt 162-167-177.

Buy NTPC 151 SL 147 Tgt 157-164.

Buy IVRCL Infra 138 SL 131 Tgt 152-163.

Buy Everonn 249 SL 239 Tgt 267-290.

Buy Century Tex 200 SL 191 Tgt 212-232.

07-11-2008

Market likely to be volatile. Today Diamond stocks likely to sparkle. Buy at lower levels.

Sensex Resistance 9785-9870-9911-10076. Support 9536-9346-9297.

Nifty Resistance 2918-2934-2961-3007. Support 2828-2791-2629.

Buy EVERONN 248 SL 238 Tgt 260-267-290.

BUY GVK Power 17.20 SL 16.10 Tgt 18.50-19.20.

Buy Gitanjali Gems 83 SL 74 Tgt 89-96-105.

Buy Rajesh Exports 30 SL 28 Tgt 33-36.

Buy GMR Infra 62 SL 57 Tgt 64.50-68.50.

Buy Sintex 204 SL 196 Tgt 214-223.

Buy IBReal 155 SL 141 Tgt 169-178.

Sell Hotel Leela 24 SL 26 Tgt 23-20.

Sell Bharati 639 SL 660 Tgt 605-576.

Sell Infosys 1245 SL 1276 Tgt 1215-1190-1160.

06-11-2008

Sensex - support - 9911 - 9870 - 9704 - 9570.

Sensex - Resistance - 10218 - 10271 - 10412 - 10518.

Nifty - support - 2948 - 2894 - 2859.

Nifty - Resistance - 3035 - 3071 - 3111.

Sell RIL 1269 SL 1281 TG 1207 - 1120.

Sell REL. CAPITAL 660 SL 706 TGT 642 - 620.

Sell L&T 865 SL 914 TGT 821 - 783.

Sell ABB 528 SL 565 TGT 508 - 477.

Sell RCOM 225 SL 241 TGT 211 - 189.

05-11-2008

President Obama it is...finally. The Markets are cheering the first Black President of the U.S.

Market are now entering momentum mode as more indicators are turning positive.

Sensex Resistance 10750-11048-11257. Support 10478-10362-10212.

Nifty Resistance 3172-3254-3335. Support 3098-3061-3019.

Buy Hindalco 64 SL 62 Tgt 75-78.

Buy Suzlon 55 SL 50 Tgt 65-76-81

Buy GVK Power 14.95 SL 13.50 Tgt 16.79-18.50-24.15.

Buy Century Text 196 SL 190 Tgt 208-213-232.

Buy HCC 52 SL 48 Tgt 57.90-68.00.

Buy GMR Infra 57.60 SL 53.45 Tgt 62-65.

Buy DCB 27 SL 26 Tgt 30-32-34.

Buy IFCI 21.35 SL 19.70 Tgt 23-24.50-25.35.

Buy Punj LLoyd 203 SL 193 Tgt 213-220.

Buy Unitech 56 SL 52 Tgt 59-72.

Buy FSL 18 SL 17 Tgt 19.30-22.95-24.50.

Buy Dena 33 SL 31 Tgt 35-37.

Buy Tata Power 752 SL 735 Tgt 784-791.

04-11-2008

Market will bounce back from lower levels. So watch out for Nifty Support at 2943-2915.

Sensex Resistance 10410-10596-10750. Support 10216-10112-9911-9788.

Nifty Resistance 3081-3108-3168. Support 2986-2963-2643-2915.

Buy NIIT 34 SL 32 Tgt 36-39.

Buy GMR Infra 52 SL 50 Tgt 57-62.

Buy RNRL 53 SL 50 Tgt 60-63.

Buy Ind Info 61 SL 58 Tgt 70-73.

Buy Yes Bank 77 SL 73 Tgt 81-85.

Buy RIIL 418 SL 386 Tgt 454-488.

Buy Punj Lloyd 194 SL 189 Tgt 211-218.

Buy Adlabs 184 SL 175 Tgt 194-211.

Buy KLG Sys 118 SL 112 Tgt 130-141.

Buy Praj 70 SL 67 Tgt 77-81.

Buy Aptech 86 SL 82 Tgt 94-100-104.
.

03-11-2008

Today is Labh Pachham, an auspicious day, to start trading. This year on Mahurat day, the market behaved nicely and posted superb gains and today might not be much different.

Todays rally is a Government forced rally with both the arms of the govt, the RBI and SEBI firing on all cylinders. The Bears are now running for cover. Today short covering will push the market further up.

Sensex Resistance 9952-10239-10325-10588. Support 9618-9459-9327.

Nifty Resistance 2957-2996-3046-3111. Support 2834-2778-2753.

Buy Tata Steel 209 SL 200 Tgt 223-235-243.

Buy Jindal Steel 792 SL 771 Tgt 830-990.

Buy Bhel 1291 SL 1279 Tgt 1335-1364-1405.

Buy Rel Cap 652 SL 620 Tgt 725-772.

Buy HCC 41 SL 39 Tgt 44.50-49-57.

Buy DCB 24 SL 22 Tgt 27-31.

Buy RCom 219 SL 207 Tgt 229-249-261.

Buy IBReal 119 SL 111 Tgt 131-141-152.

Buy I-Flex 607 SL 589 Tgt 633-691.

Buy Nag Const 62 SL 59 Tgt 68-73.

Buy Infosys 1385 SL 1364 Tgt 1467-1489-1508.

Buy Walchand Nagar 122 SL 117 Tgt 138-148.

Buy Punj LLoyd 174 SL 165 Tgt 189-195-211.

Buy NIIT 31 SL 29 Tgt 34-36-42.

Buy RIIL 332 SL 320 Tgt 364-375.

Buy Core Proj 62 SL 58 Tgt 75-82.

Buy KLG Sys 108 SL 100 Tgt 120-141.

Buy Everonn 170 SL 158 Tgt 182-215.

Buy MTNL 65 SL 62 Tgt 72-76.

31-OCT-2008

Market will open gap up and test the Resistance in the morning. Best is to find very highly beaten down stocks and play for the recovery or technical dead cat bounce.

Sensex Resistance 9291-9584-9784. Support 8894-8744-8600-8275.

Nifty Resistance 2759-2785-2871-2950. Support 2631-2565-2472.

Buy HCC 41 SL 39 Tgt 44-49.

Buy Hindalco 53 SL 49 Tgt 57-62.

Buy Suzlon 46 SL 42 Tgt 49-55.

Buy JSW Steel 229 SL 219 Tgt 232-245.

Buy Jindal Stl & Power 690 SL 675 Tgt 771-830.

Buy Titan 1009 SL 982 Tgt 1032-1059.

Buy Bhel 1176 SL 1155 Tgt 1228-1254.

Buy Tata Steel 186 SL 183 Tgt 198-219-241.

29-OCT-2008

ON THE OCCSAION OF NEW YEAR SAMVAT 2065 WISH YOU A VERY HAPPY NEW YEAR AND ONE OF THE BEST N SUCCESFUL TRADING YEAR.

Wish You All A Very Happy New Year. Hope You All Have A Great & Prosperous New Year.

Sensex Resistance 9223-9291-9570-9681. Support 8957-8863-8739.

Nifty Resistance 2788-2871-2947. Support 2635-2605-2526.

Buy Nag Const 48 SL 45 Tgt 51-56.

Buy Satyam Comp 299 SL 285 Tgt 311-321.

Buy L&T 768 SL 757 Tgt 807-850.

Buy RCom 217 SL 207 Tgt 225-234.

Buy IDFC 54 SL 51 Tgt 59-62.

Buy Bhel 1146 SL 1110 Tgt 1196-1275.

Buy GMR Infra 59 SL 54 Tgt 65-68.

Proft Booking will be witnessed at higher levels. Today volatility will be high
because of expiry.

27-OCT-2008

Options IVs are phenomenally high above 90%. The Volatility does not last so much at such high levels. The OIPCR is at a measly 0.68. This is the point where it indicates extremely oversold. May be one can expect some bounce.

Sensex Resistance 8836-9072-9570. Support 8431-8278-7656-7427.

Nifty Resistance 2760-2973-3046-3153. Support 2466-2307-2275-1896.

Sell Sterling Bio 163 SL 170 Tgt 157-147-140.

Sell Hero Honda 728 SL 760 Tgt 680-631.

Sell REC 63 SL 67 Tgt 53-47.

Sell Tata Power 629 SL 665 Tgt 581-478.

Sell VSNL 365 SL 380 Tgt 340-317.

Sell Zee 124 SL 141 tgt 114-108.

Expect strong bounce in extremely oversold stocks like Suzlon, Hindalco.

24-OCT-2008

Market likely to test support. It is suggested to wait for the closing. There is no semblance of stability in the market. But I will advise not to short very aggressively. I will try and risk in buying OTM calls.

Sensex Resistance 9856-9911-10172-10239. Support 9591-9449-9072-8799.

Nifty Resistance 2985-3046-3093-3158. Support 2894-2838-2748-2691.

Sell IOC 371 SL 383 Tgt 358-345-339.

Sell TVS Motors 30.70 SL 32.50 Tgt 29-26.

Sell BOI 256 SL 266 Tgt 248-245.

Sell Bharati 615 SL 638 Tgt 600-588-556.

Sell VSNL 420 SL 438 Tgt 400-392-380.

Sell SRF 84 SL 87 Tgt 90-70-65.

Sell Dena Bank 33 SL 35 Tgt 31.50-30.00-28.00.

Sell Andhra Bank 51 SL 53.60 Tgt 48-45.

Sell Synd Bank 60 SL 61.40 Tgt 56.55-52.50.

Sell RPower 107 SL 112 Tgt 102-95.

Sell HDFC 1763 SL 1815 Tgt 1682-1641-1586.

23-OCT-2008

Market will continue in its down trend as the market continues its downtrend.

Sensex Support 9895-9449-9072-8799. Resistance 10239-10298-10421.

Nifty Support 2997-2931-2838. Resistance 3099-3139-3185.

Sell NTPC 144 SL 148 Tgt 134-129.

Sell BoB 283 SL 291 Tgt 267-263.

Sell BoI 270 SL 279 Tgt 260-248.

Sell OBC 155 SL 160 Tgt 147-139.

Sell UBI 139 SL 145 Tgt 134-128.

Sell SBI 1392 SL 1430 Tgt 1368-1352-1309.

Sell PNB 472 SL 489 Tgt 460-444-425.

Sell Bharati 666 SL 687 Tgt 652-628.

Sell RIL 1316 SL 1344 Tgt 1281-1248.

Sell IVRCL Infra 114 SL 121 Tgt 105-92.

Sell Jindal Steel 717 SL 739 Tgt 689-673.

22-OCT-2008

Market likely to bounce back after opening lower. Sensex will face severe resistance in the zone of 10787-10813.

Sensex Resistance 10787-10813-10891. Support 10428-10072-9911.

Nifty Resistance 3274-3335-3350. Support 3198-3177-3117-3046.

Buy Praj Ind 86 SL 82 Tgt 90-96.

Buy Chambal Fert 44 SL 42 Tgt 47-52.

Buy NIIT 32 SL 31.40 Tgt 35.00-36.25-38.00.

Buy Century Tex 206 SL 200 Tgt 213-220-232.

Buy RPower 120 SL 117 Tgt 125-130.

Buy Sobha 125 SL 120 Tgt 131-142.

Buy Crompton 178 SL 173 Tgt 184-194.

NTPC, Bharati Airtel, show good short build up

21-OCT-2008

Market likely to show some recovery. Since yesterdays bottom was not violated and bullish harami has been formed in the indices.

Sensex Resistance 10538-10787-10841. Support 10160-10023-9911.

Nifty Resistance 3178-3198-3335. Support 3108-3058-3046.

Buy Ind Bank 135 SL 132 Tgt 138-142-146.

Buy 3i Info 50 SL 48 Tgt 55-59.

Buy NIIT 30 SL 28 Tgt 33.45-36.25-42.10.

Buy Can Bank 181 SL 175 Tgt 188-191-194.

Buy Century Tex 206 SL 200 Tgt 213-222-232.

Buy IOB 95 SL 92 Tgt 100-104-107.

Buy BoB 312 SL 308 Tgt 320-327.

Buy DCB 33.80 SL 32 Tgt 37-10-38.50.

Buy HCC 44 SL 43 Tgt 50-53.

Buy TCS 491 SL 465 Tgt 519-546-561.

Buy REL Cap 656 SL 635 Tgt 680-695-712=5.

Buy JSW Steel 260 SL 245 Tgt 278-288-297.

Buy Sobha Dev 120 SL 114 Tgt 132-142.

Buy Satyam 288 SL 279 Tgt 305-314-324.

19-OCT-2008

Market is oversold and we can expect some bounce in the morning. But the bounce will not sustain. Use this bounce to sell your pending long positions and create short at higher levels.

Sensex Resistance 10149-10239-10581. Support 9847-9449-8799.

Nifty Resistance 3142-3198-3269. Support 3018-2997-2940-2748.

Sell Bharti 677 SL 700 Tgt 653-580.

Sell Hero Honda 814 SL 832 Tgt 785-759.

Sell Maruti 640 SL 670 Tgt 624-603.

Sell Tata Power 748 SL 774 Tgt 722-696.

Sell NTPC 150 SL 158 Tgt 140-132.

Sell Tata Steel 247 SL 259 Tgt 239-222.

Sell TCS 453 SL 480 Tgt 437-411.

Sell EKC 193 SL 201 Tgt 186-174.

Sell Bhel 1191 SL 1250 Tgt 1099-1022.

Sell ACC 486 SL 508 Tgt 472-461.

Sell ABB 631 SL 658 Tgt 595-575.

17-OCT -2008

Market likely to move up. But the Volatility will play its role as usual.

Sensex Resistance 10678-10787-10993. Support 10449-10285-10150-10017.

Nifty Resistance 3294-3333-3397. Support 3232-3175-3147-3099.

Buy BoB 316 SL 308 Tgt 322-329-338.

Buy PNB 499 SL 489 Tgt 509-520.

Buy HDIL 129 SL 121 Tgt 139-148.

Buy Lanco 153 SL 147 Tgt 160-176.

Buy DCB 30 SL 28 Tgt 32.70-34.00-37.10.

Buy HPCL 227 SL 223 Tgt 236-249.

Buy Can Bank 182 SL 176 Tgt 188-194.

Buy JP Ass 74 SL 69 Tgt 83-89.

Buy Sesa Goa 84 SL 78 Tgt 94-99.

Buy Union Bank 161 SL 154 Tgt 168-177.

Buy SBI 1540 SL 1484 Tgt 1576-1589-1620.

Buy Aban 1112 SL 1070 Tgt 1170-1192-1260.

Buy BOI 295 SL 289 Tgt 305-312-327.

Buy Nag Const 49 SL 45 tgt 56-65.

Buy Bata 101 SL 96 Tgt 105-109.

Buy REC 69 SL 66 Tgt 73-77.

16-OCT-2008

Market likely to make a new bottom and it will be important how the market reacts from there. The 61.8% Retracement levels of the Sensex and Nifty are at 9895 and 2997 resp.

It will be interesting to note that pull back if any will be led by PSU banks and Oil
Marketing Companies.

Sensex Support 9951-9895-9449. Resistance ???

Nifty Support 3117-3040-2997-2931. Resistance ???

Sell Essar Oil 98 SL 104 Tgt 89-76.

Sell L&T 895 SL 934 Tgt 873-850.

Sell Bhel 1397 SL 1433 Tgt 1355-1335.

Sell Educomp 2319 SL 2359 Tgt 2261-2136.

Sell Titan 803 SL 835 Tgt 761-737.

Sell VSNL 486 SL 499 Tgt 473-448.

Sell NTPC 167 SL 171 Tgt 161-158.

Sell RIL 1520 SL 1555 Tgt 1492-1477.

Sell TCS 543 SL 564 Tgt 527-508.

Sell ABB 651 SL 675 Tgt 631-613-585.

SBI, BPCL, HPCL, UBI, IOC may lead the pullback if any.

15-oct -2008

Market is going to open gap down and it will behave in very volatile manner, Sensex has left a gap between 11410 - 11361 so the gap will be filled.

SENSEX SUPPORT- 11337-11238-11055-10955, RESISTANCE-11597-11632-11667.

NIFTY SUPPORT- 3474-3423-3370-3331, RESISTANCE-3548-3596-3648.

BUY VSNL 495 SL 487 TGT 510-525.

BUY EDUCOMP 2462 SL 2390 TGT 2515-2555.

BUY EVERONN 234 SL 220 TGT 256-266.

BUY BoB 309 SL 303 TGT 320-324.

BUY OBC 168 SL 161 TGT 176-185.

SELL ONGC 881 SL 908 TGT 869-834.

14-OCT -2008

Market likely to have a whiff of what it is like to have an upper circuit. Dont rush to buy index stocks as they will open with a huge gap. Try some mid cap counters.

Sensex Resistance 11721-12153-12558. Support 11063-10817-10527.

Nifty Resistance 3599-3715-3799. Support 3445-3381-3272.

Buy NIIT 30 SL 28 Tgt 35-40.

Buy Can Bank 177 SL 174 Tgt 185-194.

Buy Orbit 100 SL 95 Tgt 113-133-144.

Buy Dena Bank 35 SL 33 Tgt 37-39-42.

Buy JP Ass 80 SL 77 Tgt 87-98.

Buy NTPC 177 SL 174 Tgt 186-192.

Buy BOI 278 SL 271 Tgt 294-299.

Buy Nag Cost 59 SL 57 Tgt 63-68-81.

Buy BRFL 239 SL 214 Tgt 262-289.

Buy FSL 21 SL 20 tgt 25-27.

Buy Bhel 1499 SL 1470 Tgt 1595-1630.

Buy ABB 703 SL 682 Tgt 741-753-786.

Buy Siemens 316 SL 308 Tgt 333-360.

Buy Akruti 686 SL 676 Tgt 724-748.

13-OCT -2008

The market is oversold and some rebound may be visible from lower levels. But there will lot of volatility and uncertainty. Selling pressure will be unavoidable at higher levels. Be cautious and trade in less quantity.

Sensex Resistance 10746-10975-11405. Support 10209-9951-9895.

Nifty Resistance 3394-3502-3627. Support 3209-3198-3119-3041.

Buy Can Bank 172 SL 164 Tgt 179-185.

Buy Ranbaxy 292 SL 276 Tgt 302-312.

Buy Aban 1111 SL 1040 Tgt 1205-1260.

Buy Maruti 679 SL 659 Tgt 692-704.

Buy OBC 159 SL 156 Tgt 169-174.

Buy Praj Ind 86 SL 83 Tgt 92-94.

TVS Motor, VSNL, HeroHonda, Lupin, HUL look weak.

WEEKLY RECOMMENDATIONS:

SENSEX.
Sensex opened the week at 12284, made a high of 12284, made a low of 10239 and closed the week at 10527, thus registering a weekly loss of 1999 points. The indicators are now extremely oversold and we can expect a strong technical dead cat bounce. But by no means the bottom is confirmed. The Sensex has a likely target of 9895-9449. For the week ahead the Resistance is at 10746-10975-11405-11721. Support is at 10239-9951-9895-9449.

NIFTY.
Nifty opened the week at 3817, made a high of 3821, low of 3198 and closed the week at 3279. The weekly loss was 539 points. The OI PCR is a poor 0.73 and this suggest the markets are extremely oversold. Call writing is the order of the day as Call writing is increasing at the Nifty strikes of 3500-3600. The Nifty is following a Bearish Head and Shoulder pattern and is on the way to achieve target of 3041-2931. The 61.8% Retracement level of the entire Bull market is also at 2997.For the week ahead, the Resistance is at 3394-3505-3627. Support is at 3198-3119-3041-2997-2931.

THIS WEEK’S RECOMMENDATIONS:

SELL VSNL 417 SL 434 TGT 393-380.

SELL HERO HONDA 815 SL 842 TGT 793-785.

SELL PNB 460 SL 471 TGT 451-443-437.

SELL HUL 221 SL 231 TGT 213-200.

SELL LUPIN 621 SL 639 TGT 593-572.

08-OCT-2008

Market will open gap down. It is better to wait for higher levels to short than to short at the bottom levels. Markets will try and bounce from 3468-3430 levels.

Sensex Resistance 11866-11983-12068. Support 11501-11218-11058.

Nifty Resistance 3638-3658-3690. Support 3552-3537-3468-3430.

Sell ACC 591 SL 602 Tgt 579-562.

Sell L&T 1008 SL 1054 Tgt 982-972-930.

Sell MRPL 48 SL 50 Tgt 46-43.

Sell IndusInd 50 SL 51 Tgt 48-45.

Sell ICICI 485 SL 501 Tgt 464-442.

Sell HDFC 1950 SL 1981 Tgt 1928-1900.

Sell ABB 708 SL 721 Tgt 686-674.

Sell TCS 575 SL 590 Tgt 557-546.

Sell Bharti 748 SL 760 Tgt 728-714.

07-OCT-2008

Markets may open in positive in view of announcements of RBI and SEBI yesterday but the recovery will be difficult to sustain as Volatility will be very high. Recovery may be seen in Banking stocks.

Sensex Resistance 12043-12153-12284. Support 11733-11664-11578-11103.

Nifty Resistance 3673-3715-3790. Support 3560-3535-3430.

Buy BPCL 379 SL 367 Tgt 393-400.

Buy HPCL 240 SL 239 Tgt 250-255.

Buy ICICI 490 SL 473 Tgt 510-525.

Buy Union Bank 144 SL 141 Tgt 147-150-154.

Buy SBI 1433 SL 1421 Tgt 1459-1475.

Buy BoB 290 SL 284 Tgt 297-303.

Buy FSL 28.60 SL 27.10 Tgt 30.30-31.45-32.75.

Buy OBC 156 SL 153 Tgt 160-164.

Buy Tata Comm 461 SL 452 Tgt 473-483.

Buy Moser Baer 107 SL 103 Tgt 112-116.

Bharti, HCL Tech, RIL look weak.

WEEKLY CALL 06-OCT-2008 TO 10-OCT-2008

Market will show weakness below 3790. The fall will find some support at 3647-3638. This zone will be very critical as two important supports are coinciding.

Sensex Resistance 12569-12712-12822. Support 12418-12153-11875-11578.

Nifty Resistance 3848-3881-3919. Support 3738-3715-3682-3647-3617.

Sell L&T 1159 SL 1189 Tgt 1141-1099-1032.

Sell RIL 1761 SL 1805 Tgt 1729-1640-1502.

Sell Educomp 3136 SL 3185 Tgt 3072-3022-2980.

Sell Chambal Fert 50.45 SL 52.55 Tgt 47.20-45.00-41.00.

Sell Nag Fert 26.80 SL 28 Tgt 25.20-21.20.

Sell Punj Lloyd 267 SL 275 Tgt 255-247-240.

Sell Rel Cap 1063 SL 1119 Tgt 1021-1005-972.

Sell HDFC 2079 SL 2151 Tgt 2041-2000-1953.

Sell Infosys 1391 SL 1428 Tgt 1369-1320.

Sell Gail 393 SL 410 Tgt 386-371.

Sell Tata Power 887 SL 905 Tgt 875-843-818.

Buy BPCL 372 SL 368 Tgt 382-393.

Buy Hero Honda 888 SL 861 Tgt 908-924.

Buy HLL 256 SL 251 Tgt 262-265-275.

Buy Dr. Reddy 550 SL 533 Tgt 562-574-588.

03-OCT-2008

Markets will open lower and then expect sharp bounce only to face selling pressure at higher levels. The trend today will be highly volatile. The stocks that will remain in focus will be the banking stocks and the Nuclear deal positive stocks. It is advisable to sell at higher levels.

Sensex Resistance 13105-13208-13269. Support 12952-12822-12697.

Nifty Resistance 4024-4050-4093-4114. Support 3919-3861-3801.

Buy Punj Lloyd 291 SL 284 Tgt 301-306-311.

Buy Axis Bank 734 SL 722 Tgt 755-771.

Buy SBI 1504 SL 1475 Tgt 1545-1574.

Buy Maruti 700 SL 689 Tgt 713-725.

Buy JP Associates 118 SL 114 Tgt 124-128.

Buy HPCL 240 SL 235 Tgt 246-253.

Buy Tata Steel 438 SL 427 Tgt 454-467.

Buy PNB 494 SL 486 Tgt 501-508-514.

Buy BOI 290 SL 285 Tgt 297-304.

30-SEP-2008

NIFTY ANALYSIS : Today’s weak sentiment can continue tomorrow also. Major Indices seen weak after hitting 2008 lows today. But overall movement will depend largely on global cues. Nifty is likely to take support around 3800 but below this level it could witness selling pressure. On upper side first resistance will come at 3920 and after that 4000 level.

NIFTY FUTURE :
For a day trading view, trade below 3874 continue then heavy panic may seen in market and it slide up to 3752 and then 3654 level. At upside it face resistance at 3970

.BSE SENSEX : Now it's a more chance to touch 12293 if break this then slide up to 11992 to 11582 level. At upside it face hurdle at 12700 and then at 13000.

RELIANCE : Now if break 1882 then it slide up to 1832 to 1783 level. At upside above 1980 it go for 2030 to 2080.

SBI : It slide up to 1353 and if break this too then it slide more up to 1301 to 1250. At upside it face resistance at 1456 and then at 1507.

TATA STEEL : Now it has a support at 431 if break this then slide up to 417 to 399 level. At upside above 449 it go for 463 to 481

.L&T : For a day trading view, it has a support at 2282 level if break this then slide more up to 2217 to 2108 level. At upside it face hurdle at 2391 if cross this then zoom to kiss 2456 to 2565 level.

ONGC : It face hurdle at 1049 if sustain above it then it go for 1077 to 1106 level. At downside below 1020 slide up to 992 to 963 level

.REL CAPITAL : For a intraday view, Above 1108 it zoom to kiss 1159 to 1231 level and if break 1036 level then slide up to 985 to 913 level.

REL INFRA : Below 808 more chance to touch 757 and if break this too then slide up to 721 to 670 level. At upside above 808 it go for 844 to 895 level.

BHEL : Below 1514 it slide up to 1439 to 1366 level. At upside it face hurdle at 1587 and suppose cross this then go for 1662 level.

DLF : Now if break 328 then it slide up to 307 to 285 level. At upside it face hurdle at 371 and then at 393.

26-SEP-2008

24-SEP-2008

23-SEP-2008

19-SEP-2008

18-SEP-2008

NIFTY ANALYSIS :
Markets closed in red today after the choppy trade. Most of the stocks closed around 52-w low. Further the bias likely to remain weak due to concerns over the health of financial markets worldwide. Technically Nifty is facing strong resistance around 4100. If Nifty managed to stay above 4100 for at least half an hour, one can go for long side. But till then wait and watch. Below 3900 one can go for short with stop loss of 4055. Below 3900 target could be around 3750.

NIFTY FUTURE :
For a day trading view, below 4033 it's a more chance to touch 3950 to 3892 level. At upside above 4033 it go for 4091 and if break this with volume then go for 4174 to 4232 level.

BSE SENSEX : Now below 13336 it slide to touch 13052 and once broke this level then it slide up to 12843 to 12559 level. At upside above 13336 it zoom to kiss 13545 and then 13829.

RELIANCE : Below 1894 it slide up to 1829 to 1782 level. At upside it face hurdle at 1941 once cross this level then go for 2006 level.

SBI : Now below 1547 more chance to touch 1494 to 1458 level. At upside above 1547 it go for 1583 to 1636 level.

TATA STEEL : For a day trading view, Trade below 461 lead it to the 450 to 433 level. At upside it face hurdle at 478 and then 489.

L&T : Now below 2514 it slide up to 2469 to 2436 level. At upside it face hurdle at 2547 and once cross this then it go for 2592 to 2625 level

.INFOSYS : Now above 1550 it go for 1598 to 1626 level. Suppose break 1550 then slide up to 1522 level.

ONGC : For a day trader, it has a support at 972 level if break this then slide up to 946 to 915 level. At upside above 972 it zoom to kiss 1003 here it face hurdle once cross this too then it go for 1029 to 1060.

REL CAPITAL : Below 1088 it slide up to 1041 to 1013 level and if break this too then slide up to 966. At upside above 1088 it go for 1116 to 1163 level

.REL INFRA : Below 835 it slide up to 816 to 803 level. At upside above 835 it zoom to kiss 848 to 867 level and then 880.

BHEL : Below 1619 it slide up to 1568 to 1532 level. And above 1619 it go for 1655 to 1706 level.

DLF : It slide up to 397 and if break this too then further slip to386 to 367 level. At upside face resistance at 416 and then 427.

16-SEP-2008

12-SEP-2008

11-SEP-2008

NIFTY FUTURE : For a day trading view, It slide up to 4365 and if break this too then slide more up to 4332 to 4280. At upside above 4416 it try to kiss 4450 and if sustain above it then it go for 4501 to 4535 level.

BSE SENSEX : For a day trading view, Above 14712 it go for 14815 to 14969 level. At downside it has support around 14558 if break this then slide up to 14455 to 14301

.RELIANCE : Now below 2096 it slide up to 2058 to 2034 level. At upside hurdle at 2120 if cross this then go for 2158 to 2182 level.

SBI : It has a good support 1560 above1560 it try to kiss 1587 and if cross this too then it go for 1609 to 1635 level.At downside below 1560 support at 1539 and then at 1513.

TATA STEEL : Now it has a support around 521 if break this then panic selling up to 508 to 486 seen. At upside above 543 it go for 556 to 578 level.

L&T : Now it has a support around 2689 if break this then slide up to 2662 to 2629 level. At upside above 2722 it go for 2749 to 2782 level.

INFOSYS : Above 1750 it try to kiss 1780 to 1801 level. At downside below 1750 more chance to touch 1729 and then at 1699 level.

ONGC : Below 1078 it slide up to 1051 and then 1025 to 998 level. At upside above 1078 it go for 1104 to 1131 level

.REL CAPITAL : Now it has a support around 1312 level if break this then slide upto 1293 to 1272 level. At upside above 1333 it go for 1352 to 1373 level.

REL INFRA : For a day trading view, it has a support around 1007 and then at 980. At upside above 1045 it go for 1072 to 1110 level.

BHEL : Below 1715 more chance to touch 1684 and if break this then slide up to 1657 to 1626 level. At upside above 1715 it zoom to kiss 1742 to 1773 level

.DLF : Now it has a support around 494 and if break this too then slide more up to 487 to 478 level. At upside above 503 it go for 510 to 519 level.

10-SEP-2008

02-SEP-2008

01-SEP-2008

WEEKLY RECOMMENDATIONS

FOR THE WEEK AHEAD, SENSEX RESISTANCE IS AT 14672-14824-15132-15270 .

SUPPORT IS AT 14464-14279-14002-13824

FOR THE WEEK AHEAD ,NIFTY RESISTANCE IS AT 4398-4447-4587-4639

SUPPORT IS AT 4264- 4230-4193.

BUY EDUCOMP @ 3770 SL 3690 TGT 3859-3941-4128

BUY GREAT OFFSHORE @ 530 SL 507 TGT 556-575

BUY KLG SYSTEL @ 397 SL 385 TGT 414-428

BUY MPHASIS BFL @ 242 SL 236 TGT 251-259

BUY GTC IND @ 138 SL 133 TGT 149-156-165

BUY ABAN @ 2083 SL 2042 TGT 2158-2225-2263

BUY HCL TECH @ 233 SL 229 TGT 240-249-256

BUY BRFL @ 361 SL 346 TGT 387-398

BUY BAJAJ ELE @ 436 SL 396 TGT 499- 530

BUY CIPLA @233.50 SL 222.50 TGT 245-252

BUY BANARI AMMA.@ 71 SL 65.50 TGT 85-90

BUY EMAMI @ 297 SL 285 TGT 325-337

BUY GARWARE WALL @ 82.80 SL 79.50 TGT 95-102

SHORT TERM DEL PIC : REAL STRIPS(513558 ) ,HITACHI HOME (523398) ,MALWA COTON (502995) ,REFEX REFRIGERANTS(532884)

29-AUG-2008

28-AUG-2008

27-AUG-2008

26-AUG-2008

21-AUG-2008

20-08-2008

19-08-2008

18-08-2008

14-AUG-2008

13-AUG-2008

12-AUG-2008

11-AUG-2008

THIS WEEK’S CALLS RECOMMENDATIONS :

Sensex Resistance 15422-15789-15970.
Support 14888-14725-14568

Nifty Resistance 4615-4679-4746-4919
Support 4464.4362-4310

BUY SCI @ 239 SL 234 TGT 249-257.

BUY STERLITE@640 SL 630 TGT 658-670-691.

BUY DIVISLAB @ 1511 SL 1484 TGT 1550-1573

BUY APTECH @ 230 SL 221 TGT 238-247

BUY L&T @ 2836 SL 2778 TGT 2957-2990-3039

BUY ASIAN ELECT @ 102 SL 97 TGT 109-118-125

BUY TORRENT POWER @ 114 SL 110 TGT 122-133-141

BUY AFTEK @ 47 SL 45 TGT 50-54

BUY ASHAPURA @ 136 SL 132 TGT 149-168.

BUY TATA CHEM@344 SL 331 TGT 363-375

BUY HDIL @ 635 SL 620 TGT 658-682

BUY GREAT OFFSHORE @ 441 SL 426 TGT 454-471

SHORT TERM DELIVERY BUY CALL:

PTC BUY ABOVE 85 SL 79 TGT 95-99

ANSAL INFRA BUY AT 107 SL 91 TGT 130+

BUY CAMPHOR & ALLIED PRDUCT (500078) @ 79 SL 73 TGT 125

08-AUG-2008

07-AUG-2008

06-AUG -2008

05-AUG-2008

04-AUG -2008

WEEKLY RECOMMEDATIONS

SENSEX Resistance 14954-15244-15332-15741.
Support 14539-14243-14032-13727.

NIFTY Resistance 4516-4679-4722-4770
Support 4347-4298-4262-4159

• 
  
  WEEKLY CALLS (04-08-2008 TO 08-08-2008 )
  
  BUY SESA GOA @ 3483 SL 3440 TGT 3557-3630.
  
  BUY MRPL@ 69 SL 66 TGT 75-82-89
  
  BUY NAG FERT @ 40 SL 37.50 TGT 43.50-46- 51
  
  BUY RNRL @ 101 SL 97.50 TGT 106-114.
  
  BUY TATA CHEM @ 330 SL 325 TGT 338-347
  
  BUY AASAM COMPANY @ 24 SL 20 TGT 29-31
  
  BUY UB ENGNEERING @ 80 SL 74 TGT 93-99
  
  BUY REALSTRIPS (513558) @83 SL 76 TGT 96-103
  
  BUY BORAX MORARAJI ( 506315) @ 65 SL 60 TGT 70.50-76-79
  
  BUY TWILLIGHTLITAKA ( 506985 ) @ 51 SL 46 TGT 63-70
  
  
  

01-AUG-2008

30-JUL-2008

29-JUL-2008

28-JUL-2008

WEEKLY RECOMMENDATIONS (28-07-2008 TO 01-08-2008)

WEEKLY RESISTANCE & SUPPORT:

SENSEX : Resistance 14484- 14608-15081
Support 14131-13822-13581

NIFTY : Resistance : 4369-4526-4746
Support 4253-4164-4076


WEEKLY RECOMMEDATIONS STOCK

BUY BRFL @ 334 SL 322 TGT 346-360-373.

BUY RENUKA @ 123 SL 118 TGT 129-135.

BUY JPHYDRO @ 54 SL 52 TGT 57-60.

BUY MRPL @ 67 SL 63 TGT 71-75.

BUY NEYVELLI LIGNITE @ 120 SL 116 TGT 125-129.

BUY SASKEN COMM @ 154 SL 148 TGT 164-172.

BUY TORRENT POWER @ 98 SL 93.50 TGT 105-118

BUY SHYAM GEMS @ 175 SL 166 TGT 195-218

25-JUL-2008

24-JUL-2008

23-JUL-2008

22-JUL-2008

21-JUL-2008

WEEKLY CALLS

BUY NTPC @ 173 SL 168 TGT 178-182-193.

BUY NALCO @ 357 SL 332 TGT 377-398.

BUY HCC @ 85 SL 82 TGT 90-94.

BUY REL @ 858 SL 840 TGT 873-892.

BUY L&T @ 2547 SL 2476 TGT 2610-2662

. Index Outlook

Sensex (13469.8)
The dark clouds parted a little and melting crude prices sent a ray of hope to the hassled equity markets last week. Sensex rejoiced by gaining over 1,000 points in the last two sessions. Market participants will, however, switch from watching crude prices to focus on the high-octave political drama that will unfold in New Delhi next week as the Central Government seeks a confidence vote from the Lok Sabha.
After weeks of pointing southwards, there is a mild bullishness apparent in the charts this week. In fact, we have not seen two consecutive days of such strong closes since May this year. Volumes were muted in both cash and derivatives segment implying that the buying was spurred by bottom-fishing by a select few.
Sensex reversed from the intra-week trough at 12514 last week. As we have been reiterating, the confluence of targets and support between 12300 and 12800, make it a crucial support zone. Mild bullishness is evident in the oscillators’ chart too. Weekly oscillators are diverging positively while the 10-day rate of change oscillator has moved in to the positive territory. A bullish hammer is also evident in the weekly candle-stick chart that could portend a medium-term reversal.
But these are early days yet and the steep crash from 17,735 has ensured that the Sensex has to do a lot more work before it can pull itself to safety. The pattern since the 12,822 trough appears to be a sideways correction in the down trend that could be an irregular flat or a triangle. It is, however, yet to be determined if this move is part of the market’s base building effort before the next intermediate term rally or if it is a temporary halt in the down move from 17735.
The immediate test for this rally will be in the zone between 14000 and 14250. A reversal from here would mean that a decline towards 12500 would be on the cards again. The medium-term outlook will turn positive on a close past 15300. If the trough formed last week at 12514 is penetrated in the near-term, it would mean that the C wave from the 17735 is extending and can drag the index lower towards 11800 or 11200.
In other words, though the markets appeared gung-ho over the last two trading sessions, the near term trend is only sideways with a strong resistance at 14066, 14233 and 14677. A reversal from either of these levels will pull the index lower towards 12980, 12500 or 11800.
Since we are faced with a confidence vote next Tuesday, the stock markets are likely to be volatile in the run-up to and following the motion. A range between 13000 and 14000 is likely before the trust vote is placed before Parliament. A euphoric reaction on the UPA winning the vote will give the upper targets at 14677 or 15330. If the vote results in the dismissal of the Government, a knee-jerk reaction can give the lower target to the index at 12160 or 11800. Needless to add, that long-term investors should use such a plunge to go on a shopping spree.

NIFTY :-

Nifty formed a low at 3790 before moving higher last week. The current short-term up-trend can take the index to 4157 or 4297. The index faces strong resistance in the zone between 4200 and 4400 and traders should book some profits on their long positions in this band.
A reversal from 4200 will drag the index lower towards 3901 or 3790 once again. For the medium-term, we continue to envisage a sideways range between 3700 and 4400. A decline below 3700 will accentuate the negative outlook and pave the way for a decline to 3596 or 3279.