Nifty view for the week 2-6March

Once again we proved our accuracy and made you earn money in truckload. Last week we told that Nifty fut support is at 2660,and nifty made a low of 2672 and reverted back. Our PREMIUM MEMBERS minted huge money from Nifty future/Stock tips with our highly accurate analysis.

Last week we saw a mixture of ups n downs in market and that was due to ambiguity in the sentiments due to the news in which government announced a 2% cut in service tax rates to 10% and reduced excise duty from 10% to 8% and then later in the week the news of declined GDP made market tank all of a sudden in starting trade. There was a huge decline in GDP from 8.9% to 5.3% , this was one of the major cause of concern on Friday. Also,weak global economic data weighed on the sentiments as US jobless claims hit a 26-year high.

However ,inflation now stands at a 14-month low of 3.36% for the week ended 14 Feb'2009,giving a relief from atleast one side. In the coming week we can see a volatile week again due to announcement of general election dates which may put to rest all major concessions to hold and on other side we have bias with the announcement of rate cut by RBI and RIL-RPL merger decision making meeting today. So overall an ambiguous situation prevailing in current scenario. If we speak of stock specific view,fresh buying seen in counters like ICICI Bank, TISCO, HDFC, Educomp & McDowell whereas fresh short building seen in counters like Infosys, Reliance Capital & DLF.

In this week, Nifty will trade in the range of 2660-2810 again. On lower side the 2660 level will provide a good support to nifty,however if this level is breaked then we can see nifty going on lower side till 2580-2545 levels for the week. If 266o level is not breached,and nifty manages to close above 2775 level, then we can see nifty inching up this month,and can reach 2810-2880+ levels this month. So all members are requested to trade with high cautious while doing any short/long trade,and must hedge the trade with appropriate options.

Nifty levels

Resistance- 2775-2798-2830-2860

Support-2665-2630-2580-2545

Stocks for the week-

• Reliance Power
• Maruti
• Hero Honda
• United Spirits
• Colgate

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