Normal
0

false
false
false

MicrosoftInternetExplorer4

st1\:*{behavior:url(#ieooui) }

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman";
mso-ansi-language:#0400;
mso-fareast-language:#0400;
mso-bidi-language:#0400;}

TRADING STRATEGY FOR 12TH MARCH 2010 (Based on technical by O P AGARWAL)     Markets close firm on late buying   The market opened flat yesterday and moved range bound with positive bias throughout the session led by sustained buying in Reliance Industries. The market however, rallied sharply upward in the closing hours on hectic buying in IT and Banking sector stocks. The market finally closed the day with moderate gain.  Meanwhile, according to the data released by the government yesterday, the food price index rose 17.81% in the 12 months to 27 February 2010, while the fuel price index was up 11.38%. The rise in the food price index was marginally lower than an annual rise of 17.87% in the previous week. The primary articles price index was up 15.08% year-on-year as on 27 February 2010. The Sensex, which surged to 17,215 in closing minutes finally ended the session in the positive with marginal gain of 70 points at 17167. The Nifty however, gained a paltry 17 points and closed at 5133. Further, the market participants will be keenly watching the IIP data due for release today which may add to the buoyancy of the market. Meantime, FIIs have bought stocks worth more than $2 billion in seven sessions to March 9, as per latest data available. The readers are however, advised to wait till clear market trend emerges. NIFTY FUTURE (Last close 5146.85) The counter after flat opening yesterday remained steady and moved range bound through out the session till the closing hours when a sharp buying in major IT and banking stocks pushed the Nifty to day’s high. The counter appears positive on charts and may move further up to 5187/5212 once it trades and remains above 5165.75. Strong support for the NF exists at 5116.25 which if breached decisively with volumes then NF may slide to 5095/5076. AREVA T & D FUTURE (Last close 280.90) The company manufactures a range of power transmission and distribution equipment and operates through approximately six divisions: Low voltage equipment, measurement and control, switchgear, projects and construction, rotating machines, and transformers. The company remains a major beneficiary of power sector allocation. The company’s net profit rose 23.2% to Rs 68.08 crore on 23.5% increase in net sales to Rs 1159.87 crore in Q4 December 2009 over Q4 December 2008. The company’s future remains bright with large pending orders in hand and high reputation it enjoys in the sector. Meantime, the stock after flat opening yesterday moved steadily upward with good volumes. The stock appears positive on charts and may move up to 286/289 once it trades and remains above 282.75. Strong support for the stock exists at 278.25. MPHASIS FUTURE (Last close 652.35) The company is one of the pioneers in providing application services, business process outsourcing (BPO) services and infrastructure technology outsourcing (ITO) services. The stock of the company declined sharply in the recent past on drop in billing rates. The company’s net profit rose 27.30% to Rs 238.52 crore in the quarter ended January 2010 as against Rs 187.37 crore during the previous quarter ended January 2009. Meantime, the stock after moving range bound during the past four trading sessions closed yesterday flat but with positive bias with indications to move up to 661/666 once it trades and remains above 655.75. Strong support for the stock exists at 649.25. INDIA BULLS REAL ESTATE FUTURE (Last close 177.30) The stock after consolidating during the past four trading sessions closed yesterday above its short term trend line with average volumes. The stock appears positive on charts and may move up to 181/185 once it trades and remains above 178.25. Strong support for the stock exists at 175.00.   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