iCharts Discussions

[rameshraja]

On Friday Nifty Futures has closed at 5152.30 after trading most part of the day without any clear direction.

According to my analysis on Tuesday ( 20.05.2008) bulls need to ensure the level of 5130 is not broken and if they allow the market to trade below this level decisively, then bulls have to do lot of hard work to defend series of support levels, which will threaten the upmove of last Friday. Support levels below 5130 are very serious levels like Friday's low of 5100 / 5095 / 5059. If, in the morning session itself if they are able to conquer Friday's high, then Nifty futures will hit around 5235.

In Individual stocks, I am looking for swing long in BRFL / ICICI Bank /LIC HSG / PNB / Sunpharma / Tata Power / Titan and Zee. I will be extremely careful in BRFL and Titan as too many participants of market talk about this two stocks for going long.

Disclaimer: Technical Analysis is subjective and I may be wrong in my above analysis. I request you to do analysis at your end on the above and not blindly follow me in your real time trades.

Best Wishes

C T RAMESH RAJA