INDIAN STOCK MARKET NEWS LETTER FOR 30/08/2010

N. Karunakaran

Real time Experience in Indian Stock Market Over 18 Year

Cell: 09282150677: SMS Cell: 09884387259 Email: karunakaran@investearn.com

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For 30-August-2010

Market Trend -Short term -Bearish-Intermediate term-Neutral-Long Term-Bullish

Suggested standing placement of fail-safe stops...

If Weekly Nifty future Long -- exit all contracts at ... 4,786.45

If Weekly Nifty future Short -- exit all contracts at ... 5,542.90

Weekly NSE Index (C-5408.70) Resistance 5450 5510 5610

Weekly NSE Index Support 5350 5290

Weekly BSE Sensex (C-17998.41) Resistance 18135 18320

Weekly BSE Sensex Support 17810 17620

Weekly Nifty Future (C-5415.75) Resistance 5455 5510 5600

Weekly Nifty Future Support 5360 5305

Weekly Bank Future (C-10741.70) Resistance 10850 11000 11255

Weekly Bank Future Support 10590 10440

Suggested standing placement of fail-safe stops...

If Daily Nifty future Long -- exit all contracts at ... 5,363.60

If Daily Nifty future Short -- exit all contracts at ... 5,542.90

Daily NSE Index (C-5408.70) Resistance 5435 5475 5535

Daily NSE Index Support 5365 5325

Daily BSE Sensex (C-17998.41) Resistance 18065 18185 18370

Daily BSE Sensex Support 17875 17760

Daily Nifty Future (C-5415.75) Resistance 5435 5475 5530

Daily Nifty Future Support 5380 5340

Daily Bank Future (C-10741.70) Resistance 10810 10920 11100

Daily Bank Future Support 10630 10520

Short Term Buy Calls

High risk high gain zone with shorter time

HANUNG(C-289.6): Weekly Chart Looking Strong: Buy around 272 Target1-315, Target2-(Paid):Support1-247 -Support2-205

AJANTPHARM(C-248.8): Daily Chart Looking Strong: Buy around 243 Target1-264, Target2-(Paid): Support1-228-Support2-207

Short Term Sell Calls

High risk high gain zone with One Day to One Week Time

KSOILS-FUT(C-49.25): Weekly Chart Looking Weak: Sell around 51 Target1-47, Target2-(Paid):Resistance1-53-Resistance2-57

HEROHONDA-FUT(C-1735.5): Weekly Chart Looking Weak: Sell around 1763 Target1-1693, Target2-(Paid):Resistance1-1806-Resistance2-1876

As per our level, the trader should take BUY position just around our buy around level and keep the stop of Support1 level and the first target would be Target1. If Target1 is crossed then Target2 becomes the next target with the stop at buy around level .Similarly if price goes around our Sell around level the trader should SELL and keep the Resistance1 as Stop and the first target would be Target1. If Target1 is crossed then Target2 becomes the next target with the stop at Sell around level. If any time stop triggered (Buy/Sell) go reverse(buy calls  mean go short-Sells call mean go long )- For buy call stop (Support1) triggered- you go short and keep target as Support2 and keep stop as Buy around- For sell call stop triggered(Resistance1)-you go long and seep target as Resistance2 and keep stop Sell around level    

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Disclosure:

The analyst and his dependents hold no positions in the stocks/futures where calls are given.