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rameshraja · Expert Joined: 24 Nov 2006 Posts: 1121

From the Desk of : C T RAMESH RAJA

The Nifty Futures has closed at 4746.95 on Friday with positive note but US Market has crashed and Dow Jones Index fell by by 1.60% on Friday from previous day settlement price.

On Friday we saw a hectic short covering in our market during the last one hour of trading and I expect this upward bias to continue for a day.

On Monday we will see a gap down opening and Nifty Futures should find support around 4655 - 4645 and should move to 4775 - 4830 level. However, technically it should not break the level of 4617 which is the support for Nifty futures.

Nifty Levels are as follows for 17.03.2008

Support I - 4732.05 / Support II - 4724.75 / Break Down - 4715.45/

Downside TGTS: 4688.65/ 4672.15 /4645.45/4629/4602.45

Resistance I - 4786 / Resistance II - 4793.35 / Breakout - 4802.75

Upside TGTS : 4829.85 / 4846.65 / 4873.90 / 4890.80 / 4918.15

Stocks which are looking promising for long side for 17.03.2008, an excel sheet is attached with trading levels and TGTS.

Best Wishes

Polar.Bear · White Belt Joined: 28 Feb 2008 Posts: 1

thanks

hemanand_07 · White Belt Joined: 02 Apr 2007 Posts: 2

rameshraja · Expert Joined: 24 Nov 2006 Posts: 1121

Dear Mr Hemanand

Its a good question what one should do if 4617 of Nifty SL is takenout.

Always look at Nifty levels and trade in individual stocks.

If 4617 of Nifty futures is takenout, then take the risk of shorting the Nifty on bounce around 4645 - 4655 and keep SL at 4695 for downside TGT level of 4550 - 4485.

Please do understand that support level will become resistance once it is violated decisively.

When Nifty takesout 4617 SL, I would advise you to shun the entire list of long which I have mentioned in Excel sheet and rather look in for its SL to be takenout for shorting the stocks.

Best Wishes

C T RAMESH RAJA

rameshraja · Expert Joined: 24 Nov 2006 Posts: 1121

Attaching herwith BTS for 17.03.2008.

As today is going to be a difficult day for trading, I would advise you trade with the help of BTS.

Best wishes C T RAMESH RAJA

bhoovib · White Belt Joined: 01 Oct 2006 Posts: 1

I really dont know on what baiss this author is writing these analysis when the market is heading for 4100 with a huge move down.
What is the basis of this recommendation, how many people follow this and kill their money.

I had predcted fall of 4100 on intra basis a month ago.
Nifty wil move from there to 5300 levels and again fall to 3400 levels

vishalpd · White Belt Joined: 07 Mar 2008 Posts: 13

Bhoovib sir,

The analysis was only for monday..

Adithya · White Belt Joined: 05 Sep 2007 Posts: 1

Commenting on someone's work is easier.

Before that, open your two eyes and read what he had given in the page. Breaking 4617, the market will fall.

Also read RR sir reply to Mr Hemanand.

I think your intention is to criticse someone for cheap popularity.

Adithya