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Monday, July 7, 2008

Market view for this week 7-11July

Market is very likely to behave in rangebound manner.The current upside movement of market cannot be taken as a bull run,we are still not in safe zone and market is still weak so downside movement of the market cannot be ruled out. We can see selling pressure on monday/tuesday!! So stay cautious and dont leverage positions,only keep accumulating bluechips partially for making profits.
If on the lower side 3830 level is breached we can see 3760-3720-3690-3640 levels in coming days.On the other hand on upside if 4090 is crossed then the major resistance is at 4130 levels above which we can see 4200 levels.
But overall view of current market is volatile with negative bias,so any bad news can tumble down market badly. So following the phrase "Prevention is better than cure" ,all of u must stay cautious in this market to save your hard earned money!!
For nifty-
Support: 4000-3975-3940-3910
Resistance: 4040-4090-4130-4150

Stocks for the week-
Nagarjuna construction
Punj Lloyd
IDFC
Karuturi global

Stay with PUTS for hedging! Go for Nifty 3700 puts!

Keep booking profits in all stocks,as market is volatile!!!!

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