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Daily Market Analysis
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Praveen Kumar
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03
September 2010, Friday
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Mobile no. +91-9893369889
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E-mail id - praveen@viecapital.com
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Chat line id - talk2praveen2002@yahoo.co.in
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SENSEX (Close - 17238.30)
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Sensex has
slipped from higher levels but still it has closed in positive. I do not
think that market will move in a great shape even today. The momentum that
has started near 17800 seems to be cooling off. I must say that it is not a
sign of weakness but we can expect choppy trade with negative biasing.
Technical support will be at 18110 levels. On higher side 18350 will be a
trading resistance. I must say that confident money is not in stock market
right now. Weakness in selected index blue-chip stocks remains in troubling
zone. I have advised caution at higher levels in previous trading session and
this caution is applied even for today.
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Support - 18110/18000/17920
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Resistance -
18350/18410/18500
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NIFTY (Close - 5486.15)
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Technically as
long as it stay above 5470 one can assume that it can gather upward momentum again.
Well, but it is also true that we may see fall if trades goes below 5470
levels which is very close right now and yesterday's closing was also not
impressive.
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Support -
5450/5418/5390
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Resistance - 5499/5532/5550
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SBIN (Close - 2759.10)
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This stock has technical support at 2740 to 2730 zone. Candle
pattern is indicating for the test of support. This will provide us the
opportunity for short trades at higher levels. One can keep the stoploss
above 2780 marks.
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Support - 2742/2730/2709
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Resistance -
2770/2782/2800
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HEROHONDA
(Close - 1695.70)
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This stock has slipped by 4% in last trading session and closed
below 1700 marks. We have already expressed the concern for this kind of fall
from 1920 levels only. Even now it is not looking to take support. If it
fails to save 1690 then it will fall again. Short below 1690.
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Support - 1678/1664/1650
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Resistance -
1710/1732/1748
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RELIANCE (Close - 937.45)
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This stock has again seen small intrady slip from high the
resistance of 945. Technically it seems that stock will not cross 945 to 948
so easily. Traders can prefer to trade short on rise with small stop loss
above 950. Sell above 943.
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Support - 915/902/890
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Resistance -
945/958/970
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-: YESTERDAY'S
TRADING CALLS: -
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SELL
HEROHONDA@1750/PROFIT@1720
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SELL SBIN @
2780/PROFIT@2766
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SELL SBIN @
2762/LOSS@2775
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SELL SBIN @
2769/PROFIT@2760
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Few of recent updates
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# Constantly recommended
'SHORT' from on RELIANCE from 1050
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Watch Reliance, crashing 915
marks
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For more such update visit www.viecapital.com
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date. You can send your queries on following id also.
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Visit at 11 o'clock night to read
the next days trades
Mail me at praveen@viecapital.com
Join me on yahoo messenger, id - talk2praveen2002@yahoo.co.in
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Our services are
running for Equity, Derivative and commodity sections.
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Days for
speculative trades are almost over. You need technical calls to trade
with comfort. It is our humble advise to trade with good sense.
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Disclaimer: These recommendations are based on the theory of
technical analysis and personal observations. This does not claim for profit.
I am not responsible for any losses earned by traders. It is only the outlook
of the market with reference to its previous performance. You are advised to
take your position with your sense and judgment. We are trying to consider
the fundamental validity of stocks as far as possible, but demand and supply
affects it with vision variations. This analysis is provided to you by
viecapital.
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Discloser- I
do not have any personal position in any stocks. It is safe to assume that my
clients could have some positions and hence I am interested in above written
stocks.
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