19 AUG 2008

There is widespread weakness as you can see in the world markets' widget on our pages.
We have been trading in a narrow range with little participation. We need some participation to move in some direction. But the uptrend has not ended until 4300 is holding.
Today, perhaps, is a day when we could find an opportunity to buy, as per our weekly outlook.
Besides our regular recommendation we would suggest some "nibbling" in options of August series as follows:-

1. Nifty Call of strike 4500 (cmp 60/-; total loss 3000 approx.)
2. Nifty Call of strike 4600(cmp 32/-; total loss 1600 approx)
3. Relinfra Call of strike 1000 (cmp 27/-; total loss 4000 approx)
4. Relinfra Call of strike 1050 (cmp 12.45/-; total loss 1800 approx)
5. Reliance Call of strike 2310 (cmp.26.5/-; total loss 2050 approx)

Please remember that those who do not understand derivatives should stay away from our F&O calls. Moreover, these are more suitable for those who are tracking our outlook and trading pages. Cash market traders can trade according to our outlook and trading pages besides Hindi page.

We still believe that we would remain in uptrend until 4100 is not breached. But uptrend would weaken on a close below 4300. Buying is recommended on decline up to 4300 levels with 4300 itself being the stoploss (for weak positions of August series) on closing basis. Do not initiate fresh longs on a close below 4300. Strong positions and cash positions can hold until 4100 is not breached or trade the scrip according to the given stoploss.

Best of Luck for today!


(In our topic yesterday, we had mentioned the bookmarking feature in Mozilla Firefox. But we have observed that the browser requires some time to "boot" on first opening. More the rss-feed bookmarks, more time it takes. But it is worth waiting because you get almost all the news headlines and posts of your bookmarked sites after it warms-up for a couple of minutes. So, we would always recommend this browser for its new features and better viewing.
It recommends some add-on features of its own. But we don't find them useful very much for ourselves. Moreover, adding-on may increase the "warming up" time on the first opening).