TECHNICAL ANALYSIS and DERIVATIVES STRATEGIES
*TECHNICAL ANALYSIS and DERIVATIVES STRATEGIES*
*: 11th September 2007*
*Market may open with a firm note and expected to trade higher, but profit booking can be seen by 11 O clock, but selective buying can be seen in the second half.*
*SENSEX (15596)*
The Sensex has immediate resistance at 15626 and 15673 levels. If moves above, it could test 15707 and 15716 levels. Sensex has immediate support at 15582 and 15535 levels. If falls below, it may test 15448.
*NIFTY (4507)*
The Nifty has immediate resistance at 4518 and 4530 levels. If moves above, it could test 4551. Support for the Nifty will be at 4498 and 4475 levels. If moves below, it could test 4465 and 4450.
*RELIANCE (1985)*
1982 AND 1971 are the support levels. Minor resistance at 1992, above it can test 2001 and thereafter expect a price of 2025 and more. (Buy above 1982)
*BANK OF BARODA (279.50)*
The stock has support at 277 and 274. Minor resistance at 282, above, it can test 286 and 294. (Buy above 282)
*IDEA (123)*
The stock has strong support at 119 and 117. Minor resistance at 125, above this, it can test 128 and 132. (Buy for investments)
*NETWORK18 (410)*
The stock is Bullish above 405 and having resistance at 415, if moves up, it can test 421 and 440 and even 500 levels in the medium term. Support at 398. (Buy for Delivery)
*TULIP IT (909)*
The stock has support at 902 and 895. Resistance at 915. If trades above, it can test 928 and 933. (Buy for short term delivery)
*DERIVATIVES STRATEGIES *
*RELIANCE INDUSTRIES- outlook positive, BUY FUTUIRES.*
*RELIANCE ENERGY- outlook positive, BUY FUTURES.*
*Disclaimer: *The information contained here was gathered from sources deemed reliable; however, no claim is made as to its accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or times, nor should any of the examples presented be deemed as such. There is a risk of loss in trading stocks and stocks options and you should carefully consider your financial position before making any trades. This is not, nor is it intended to be, a complete study of chart patterns or technical analysis and should not be deemed as such. GEOJIT FINANCIAL SERVICES does not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgments at this date and are subject to change without notice. For use at the sole discretion of investors without any liability on GEOJIT FINANCIAL SERVICES whatsoever. Stock trading involves high risks and you can lose a significant amount of money.
*RESEARCH WING*
*ALEX K MATHEW **alex@geojit.com*
*GEOJIT FINANCIAL SERVICES LTD, KERALA*
