iCharts Discussions

[rameshraja]

The market was in a narrow range on Monday ( 18.08.2008) and was gyrating with a close range of 4395 - 4458. The index was well managed in a tight range with the help of front line stocks like Reliance and SBI.

Global markets are in Red as I am writing this post and for today I don't expect a steep fall in prices of stocks and Index. Due to bad Global cues it may gap down and open somewhere around 4360 level and waste time by moving in a tight range and probably could close in green. In Real time chart of Nifty futures, it is highly oversold and MACD Histogram is in Divergence.

I expect Nifty futures to wobble between 4340 - 4420 level and in extreme it could move to 4443 level. Worst scenario on downside could be 4318.


Nifty Futures Range for 19.08.2008 : 4340 - 4445


In individual stocks, Adlabs / HDIL / India Infoline / Punj LLoyd could underperform today. Even in these stocks, its vulnerable to short at lower levels if market gaps down.

Advice for the Day: Don't short at lower levels. Since market is expected to be in a tight range today, better to avoid trades.


Best Wishes

C T RAMESH RAJA

[srivignesh]

RR sir thank you very much sir

[cypandya]

sir plz find the post MF snapshot in market direction where u will find the mutualfund activities by all the AMCs.


Rgrds,
Bhaumik Pandya

[nitinak]

Respected RR Sir,

Your analysis is mind blowing sir. You said to open mkt. someware around 4360 ans see it opened 4364.90

Sir please keep posting your views daily.

With Warm Regards,

Nitin Kaklotar
Surat