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#1
25th September 2006, 09:52 AM
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Intermediate Outlook
BSE Sensex and S&P CNX Nifty registered a strong recovery with both these indices up by about 3% over the week.
A sharp dip on Monday cooled the markets and reduced, to some extent, the Market Risk which investors were facing. Markets continued with their upward trend after the brief correction on Monday & Tuesday morning, with sharp recovery in market indices. The market momentum remained strong also on account of the following factors: Better than expected earnings season Softening of crude prices Better than expected monsoons in India. Business momentum continues to be strong as is indicated by numbers flowing in from auto sales, mobile phone subscription, cement dispatches etc. Economic momentum remains robust as shown by advance tax collections and exports growth. Advance tax payments by most companies have been higher than what it was in the same quarter, last year. We remain in a long-term bull market. The intermediate trend is also up. Yet, risk remains high. We have seen nine consecutive weeks of gains. This cannot be sustained for long. A small dip or a larger correction - one of these two events is likely in the next few days. A close below 3425 will change the intermediate trend to down. Even as we remain in a strong up trend, investors should consider that the risk reward ratio may no longer be favorable 
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#2
26th September 2006, 03:51 PM
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Re: Intermediate Outlook
Short term traders can plan to buy on dips with support coming in around 3490. A
breakdown in this support will change the short termtrend. A sharp up move is still possible, pushing the Nifty close to its previous all time highs of 3785. Such rallies should be used to lighten up. Only short-term traders should consider buying. INTERMEDIATE OUTLOOK A close below 3420 will change the intermediate trend to down. SUGGESTIONS Rallies should be used by investors to lighten up, sell some small parts of your portfolio.
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#3
27th September 2006, 03:38 PM
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Re: Intermediate Outlook
INTERMEDIATE OUTLOOK:
The bull run continues after pausing for two sessions.With the main indices closing above their immediate resistances, the trend is firmly up and the markets are now headed towards their lifetime highs.We recommend traders and investors to hold on to their positional longs and use any declines to add on to their existing positions. Sectors that one could focus on are Capital Goods, Engineering, Hotels, Banking, Pharma, Cement, Media and Construction. The Intermediate trend is UP. That's it. TECHNICAL POINTERS FOR TRADERS When support holds, it is a buying opportunity.
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