FRIDAY 26SEP 2008

All eyes are on the U.S. bail out plan. But our Asian peers do not seem to be impressed by that. China, Japan and others are in the red at the moment.

The whole week was within a narrow range with negative bias. In the given scenario, there is a possibility of our touching previous trough at 3800(12500) in days to come. The chances are 50-50 as we have inflation stagnating but doubtful quarterly earnings. The roll over of open interest is also not very impressive if compared seasonally.

Our present range is 3800(12500) to 4650(15550). In the given situation, options strategy is recommended as given in yesterday's post below. Otherwise, just wait for the weekly outlook on this coming Sunday.