Trading Zone – 22 March 09

The market is not showing any specific trend. No one is interested to sale at lower prices and we have fund based buying at lower level. Now days are gone people talking of 6000 index Walls Street failed to give big boost and all figures announced were satisfactory. Now all are waiting for fed to  announced 200 billion dollar package ‘talf ’ which expected to announced deled and nothing came in two days fed meeting as well as the after.

The next news where world people are eying is corporate result. This will give scrip specific trend instead of general trend. In India we have big factors such as election results and later part monsoon. The election out
look expected to remain almost same with very minor variations. All eyes are on left front and Mayavati.

Last week have seen that Reliance not able to cross 1380 mark. Reliance Infra Rs.485. Rel.Capital Rs.330. ICICI Rs.345 and SBI.985. Those who went short keeping above stop loss made money in the trading zone. The above resistance levels are also good for next week. Aban offshore has gone up by Rs.50 last week. It has target of Rs.350. in panic one can buy with S/L at Rs.305 for F&O. The coming week is expected to be highly volatile as F&O last day is approaching SEBI no dough did took right decision on case of Akruti but if stop loss have kept this situation would have not happen. Friday it lost Rs.600 is very dangerous and must have reined many.
Metal did well and looking at London metal index, trend may continue. The other side is rising fear deflation after inflation came below 1% the rise in crude to 51$ also giving alarming factor for bulls. So we are in trading zone with trend decider line at bottom 8350 and no to 9150. any brake out in any direction the trend.

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