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TRADING STRATEGY FOR 11TH MARCH 2010 (Based on technical by O P AGARWAL)     Markets end flat with cautious optimism   The market after opening flat yesterday sharply moved higher within first hour of trade on strong buying seen in Reliance Industries led by select banking, cement and ADAG group stocks. Market sentiment improved yesterday on hopes that the economy is set for a buoyant growth over the next few quarters on positive indications from the government quarters.  The Sensex however, closed with minor gain of 0.27 percent or 45.79 points to finish at 17,098.33 on profit taking at higher levels. The Nifty closed the day with a paltry gain of 0.3 percent to 5,116.25. Meantime, as per latest data available Foreign funds have poured in around $1.8 billion in equities, for the six sessions to March 8. Investors will be keenly watching the IIP data due for release tomorrow to form future strategy. NIFTY FUTURE (Last close 5118.25) The counter after flat opening yesterday moved up sharply to touch day’s high at 5139 within first hour of trade on strong buying in Reliance Industries counter. The NF meantime witnessed profit taking at higher levels and slipped to day’s low at 5095 around mid afternoon. The NF however, recovered in closing hours and ended the day gaining 21 points. The NF to retain its upward momentum needs to trade and remain above 5132.75 whereby it may move further to 5148/5167. Strong support for the NF exists at 5079.25 which if breached decisively with volumes then NF may slide to 5060/5047. RELIANCE CAPITAL FUTURE (Last close 808.90) The stock after remaining range bound during the past five trading sessions closed yesterday above its short term trend line with positive bias. The stock appears positive on charts and may move up to 819/826 once it trades and remains above 811.25. Strong support for the stock exists at 803.50. UNITED SPIRITS FUTURE (Last close 1468.55) The stock surged a hefty 15% within a short span of five trading sessions from a low of 1293 on the 26th February’10 to a high of 1508 on the 8th March ’10 on sustained buying from informed quarters. The stock however, appears to be witnessing profit taking at higher levels and closed yesterday in the negative with moderate volumes. The stock may further slide to 1454/1446 once it trades and remains below 1463.25. Strong resistance for the stock exists at 1482.75. L & T FUTURE (Last close 1580.20) The stock after consolidating during the past four trading sessions closed yesterday in the negative over its previous close on profit taking at higher levels. The stock may yet witness more profit booking at CMP once it trades and remains below 1573.25 whereby it may slide to 1564/1556. Strong resistance for the stock exists at 1589.75.   DEAR READERS, PLEASE WATCH THE MARKET TREND AND USE YOUR OWN DISCRETION BEFORE TAKING A TRADE. Protect profits with trailing stops and cut losses fast. Avoid adding contracts in loss making trades Visit         www.bazaarbhavishya.com regularly Email:       opagarwal805@gmail.com Mobile:  09825029446   Disclosures:  At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be. Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.