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WEEKLY HINTS

AUGUST, 20TH TO AUGUST, 24TH

( THIS PAGE WILL BE UPDATED ON EVERY MONDAY.)

: REVIEW OF WEEKLY HINTS FOR THE LAST WEEK :

The correction continued and both the indices registered lower bottom and closed lower. Sensex closed lower at 14141.52 and Nifty at 4108.05. Nifty future closed lower at 4091.30. Long term trend is still intact. Out of stocks mentioned in Weekly hints for last week, Chennai petro attained target of 248 however EKC attained target after hitting s/l level.

: INDICES :

SENSEX : Sensex registered low of 13779.88 before and closed lower at 14141.52 and in lower trading zone of 14336 - 13824. However all the intermediate levels viz. 14140, 14080, 13998 and 13952 of trading zone 14336 - 13824 have alredy been violated registering bottom of 13779.88 in the next lower zone of 13824 - 13312. On lower side violation of 14070 will lead Sensex to the landmark of 14000. Decisive downward crossover and close below 14000 will open gate for 13824 and if violated, will lead to weekly bottom of 13779.88. Violation of weekly bottom will lead it to the crucial level of 13640 and if violated, the next level in sight will be 13568. On higher side crossover of 14285 will lead Sensex to the level of 14336. The crucial high remains far off at 15069.64 and considering the position of technical indicators cances of crossing it are very thin. Resistance to upward movement will be at 14881 and 15620 whereas Support will be at 13591 & 13040.

NIFTY : Nifty rgistered lower bottom of 4002.20 and then managed to close lower at 4108.05 but in higher trading zone of 4096 - 4352. Violation of 4065 will lead Nifty to weekly bottom of 4002.20 and if violated will lead it to the crucial level of 3960. Decisive downward crossover of 3960 will lead Nifty to the level of 3925. Possibility of a bounce back around 3925 is not ruled out. On higher side crossover of 4150 will lead Nifty to the level of 4194 and decisive crossover of 4194 will lead it to the level of 4224. Daily close above 4224 will open gate for 4352 and if crossed to the weekly and crucial high of 4394.30. Crucial level is at 4440. Resistance levels for Nifty are 4334 & 4560 and Support levels are 3942 & 3776.

: NIFTY FUTURE :

Nifty future registered low of 3953 and closed lower at 4091.30 in lower trading zone of 4096 - 3840. Will Nifty future succeede in maintainig level of 4070 through out the week ? A million dollar question. If succeeds chances of early restoration of upward trend are bright, if not, correction will continue, may be after a short pull back rally. On lower side violation of 4066 will lead Nifty future to the level of 4050 and if violated, to the level of 3998. Decisive downward crossover and close below 3998 will expose it to weekly bottom of 3953 and then to 3942. Violation and close below 3942 will open next retacement level of 3896. The lower end of trading zone of 4096 - 3840 will be next target. On higher side crossover of 4134 will lead Nifty future to the level of 4195. Decisive crossover of 4195 will lead it to the next level of 4224. Crossover and close above 4224 will open gate for crucial level of 4325 and weekly high of 4371. Resistance levels for upward move are 4324 and 4560 whereas Support levels are 3905 and 3720.

: STOCK FUTURES :

ANSAL INFRA : Will stock future succeede in crossover of level of 269.00 ?? If yes, ....276.00...280.00...?? If no, .....240.00...235...??? CMP/258.95

CAIRN : Good bet to sell stock future around 142.00 for target of 132..??? S/L - 150.00, CMP/138.75

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DISCLAIMER : Stock trading involves high risk and one can lose Substantial amount of money.The recommendations made herein Do not constitute an offer to sell or olicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will Not result in losses.Readers using the information contained herein are solely responsible for their actions.The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on technical analysis only.NOTE WE HAVE NO HOLDINGS IN ANY OF STOCKS RECOMMENDED ABOVE.

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