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Weekly Report 10 October, 2008:

Posted 11th October 2008 at 08:01 PM by malavbhatt

Market without any control, seeking ground

Analyst:
Rupesh Patel
(H.O.D: Market Research & Analysis)
E-mail: rupesh.patel@gurukrupacapital.com
www.GurukrupaCapital.com


In last week market moved down at jet speed, but failed to find ground for landing. Perhaps it is hijacked and no future is seen. It is advisable not to do anything, simply watch and wait. Even though I mention few scrips for your reference.

Nifty future (3303): Steep downfall is still continued. In this situation in coming days it can touch the level of 2881.

Bank of India future (262.85): It is on the border level looking for the direction to go. It is not advisable to buy but watch for closing below 249. If this is the case then short sell with the stop loss of 249 for the down side target of 219.

I T C future (164.85): It seems reversed near previous bottom. One can buy with the stop loss of 154 for the upper target of 176 and then 181. Be ready to change your position if it hits stop loss.

Maruti future (675.75): Down side movement is continued. One can short sell with the stop loss of 685 for the down side target of 623 and then 608.

ONGC future (923.50): It is absolutely at the border waiting for the direction to go. One can buy with the stop loss of 900 for the upper side target of 970 and then 992. If it closes below 900 then one can short sell with the stop loss 923 for the down side target of 826.

Power Grid future(90.05): Down side movement is going on. One can short sell with the stop loss of 92. It can touch the level of 81 and then 76.

Guru’s Grace,
The Gurukrupa Capital Team.

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