pushkan
4th June 2009, 11:00 AM
MARKET Outlook
For Private Circulation Only
June 04, 2009
The market is feeling tiredness at the top, which could lead to a down day in the next couple of days as a strong resistance zone around 4580-4620 still holds. The 4450 level is crucial for the short term mood of the market. In case we break 4,450, we could go down to about 4,300.
Both, the immediate support @ 4450 & the immediate resistance @ 4600 is respected. As such a momentum would build in only above/below the specified levels.
We have an important time-cycle around this week, so CAUTION is the key word.
For today one can play both ways – Short below 4515 for targets of 4480-4460 & Go long above 4550 for a target of 4580-4620. An appropriate 20-25 point stop loss may be maintained.
The detailed Market Outlook is available on our website www.pacefin.com . You can directly access it at the following URL – http://pacefin.com/admin/research/DR6253474819.pdf
RESEARCH
Pushkaraj Kanitkar Chief Technical Analyst pushkan@pacefin.in
Head, Research & Strategy
Yadvendra Mohan Database Management yadvendra@pacefin.in
__________________________________________________ ______________________
Disclaimer
The Research Department of PACE Financial Services has prepared this report. The information and opinions contained herein have been compiled or arrived at based upon information obtained in good faith from sources believed to be reliable. Such information has not been independently verified and no guaranty, representation of warranty, express or implied, is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. This document is for information purposes only. Descriptions of any company or companies or their securities mentioned herein are not intended to be complete and this document is not, and should not be construed as an offer or solicitation of an offer, to buy or sell any securities or other financial instruments. PACE, its owners, directors, analysts or employees do not take any responsibility, financial or otherwise, of the losses or the damages sustained due to the investments made or any action taken on basis of this report, including but not restricted to, fluctuation in the prices of shares and bonds, changes in the currency rates, diminution in the NAVs, reduction in the dividend or income, etc. Investors should invest only in consultation with their financial adviser.
PACE and other group companies, its owners, directors, analysts, associates, employees may have various positions in any of the stocks, securities and financial instruments dealt in the report, or may make sell or purchase or other deals in these securities from time to time or may deal in other securities of the companies /organizations described in this report.
General Advice Warning
Please note that any advice given by PACE is deemed to be general advise, as the information or advice given, does not take into account your particular objectives, financial situation or news. Therefore, at all times you should consider the appropriateness of the advice and consult your financial advisor before you act further.
For Private Circulation Only
June 04, 2009
The market is feeling tiredness at the top, which could lead to a down day in the next couple of days as a strong resistance zone around 4580-4620 still holds. The 4450 level is crucial for the short term mood of the market. In case we break 4,450, we could go down to about 4,300.
Both, the immediate support @ 4450 & the immediate resistance @ 4600 is respected. As such a momentum would build in only above/below the specified levels.
We have an important time-cycle around this week, so CAUTION is the key word.
For today one can play both ways – Short below 4515 for targets of 4480-4460 & Go long above 4550 for a target of 4580-4620. An appropriate 20-25 point stop loss may be maintained.
The detailed Market Outlook is available on our website www.pacefin.com . You can directly access it at the following URL – http://pacefin.com/admin/research/DR6253474819.pdf
RESEARCH
Pushkaraj Kanitkar Chief Technical Analyst pushkan@pacefin.in
Head, Research & Strategy
Yadvendra Mohan Database Management yadvendra@pacefin.in
__________________________________________________ ______________________
Disclaimer
The Research Department of PACE Financial Services has prepared this report. The information and opinions contained herein have been compiled or arrived at based upon information obtained in good faith from sources believed to be reliable. Such information has not been independently verified and no guaranty, representation of warranty, express or implied, is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. This document is for information purposes only. Descriptions of any company or companies or their securities mentioned herein are not intended to be complete and this document is not, and should not be construed as an offer or solicitation of an offer, to buy or sell any securities or other financial instruments. PACE, its owners, directors, analysts or employees do not take any responsibility, financial or otherwise, of the losses or the damages sustained due to the investments made or any action taken on basis of this report, including but not restricted to, fluctuation in the prices of shares and bonds, changes in the currency rates, diminution in the NAVs, reduction in the dividend or income, etc. Investors should invest only in consultation with their financial adviser.
PACE and other group companies, its owners, directors, analysts, associates, employees may have various positions in any of the stocks, securities and financial instruments dealt in the report, or may make sell or purchase or other deals in these securities from time to time or may deal in other securities of the companies /organizations described in this report.
General Advice Warning
Please note that any advice given by PACE is deemed to be general advise, as the information or advice given, does not take into account your particular objectives, financial situation or news. Therefore, at all times you should consider the appropriateness of the advice and consult your financial advisor before you act further.