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Weekly Report:

Posted 18th October 2008 at 08:14 PM by malavbhatt
Market reminds us about the Titanic

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



As mentioned in last week still market is bearish. Nothing to say about the market, but this time existing active trader or investor class will be out of market due to a big loss. Market’s bearish condition after Harshad Mehta and Ketan Parekh’s bullish market, was survived by the new class of trader or investor. I think this history will repeat this time. I would suggest not to trade or invest now, but if you wish to do anything do only intraday. Don’t hold your position overnight. For your reference I mention here few scrips.

Nifty future (3071): Bearish trend is continued and no support is seen in near future. It can go up to 2881.

Bajaj Auto future (510.40): Down trend is continued. One can short sell with initial stop loss of 530 and then 547 for the downside target of 457. In case of further downfall it can go up to 400.

HPCL future (235.85): One can short sell with the stop loss of 250. It can go up to 212 and then 190.

Mphasis future (175.95): Considering down trend one can short sell with the stop loss of 192 for the downside target of 147.

PNB future(494.50): Short sell with the stop loss of 515. In near future it can go up to 450.

R power future (108.20): It is going down with new low price. One can short sell with the stop loss of 119 for the downside target of 88.


Guru’s Grace,
Rupesh Patel
The Gurukrupa Capital Team
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