STOCKS WEEKLY GLOBAL OUTLOOK AND STRATEGY: WEEKLY OUTLOOK NSE/BSE: 29SEP TO 03OCT 2008

Sep 28, 2008

WEEKLY OUTLOOK NSE/BSE: 29SEP TO 03OCT 2008

Short Term Trend: Negative bias. Needs to close above 4325 to turn short term positive.
Medium Term Trend: Negative. Needs to close above 4725 to turn med term positive.
Long Term Trend: A long term correction is underway in finally a bull market.

S&P CNX NIFTY/BSE SENSEX
4320/14400 Resistance
4180/13800 Resistance. Inability to move above here would be a cue to short sell.

3985/13102 Previous Close

3775/12500 Support
3700/12350 support

CONCLUSION
The latest positive development in Indo-U.S. nuclear deal may also bring some cheer to the markets this week. But also keep a watch on resistance areas besides global trend - especially the Asian markets and FTSE.

(It will be a four days week; 2nd Oct being Gandhi Jayanti).

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About the Weekly Outlook above
This page is updated from time to time unless, restrained by unavoidable circumstances. Every care is taken to give you a profitable outlook but trading in stock markets can be risky and cause financial loss. We do not take responsibility of any situation arising out of the outlook and recommendations here. Therefore, please use your own discretion!

We suggest a homework with pen and paper to draw your strategy. Trading on the basis of this outlook is a matter of developing a habit so as not trade all the time and every time; or keep watching the screen round the clock, looking for a kill. Just find some other occupation that keeps you away from the screen from time to time.

Plan your 'trade-setup' meticulously after a diligent homework. Have no heart burn if markets are moving up and you were not able to initiate trade. There are many who are losing also in a rising market because of a wrong trade-setup initiated in an unplanned manner. You never miss the bus in stock markets as it stops by you again and again. Just plan 'when' to ride profitably. May be next week or perhaps after 2-3 weeks and even next month series.

Long term investing is always suggested but this outlook is also suitable for swing trading, options trading or short term investing though, the given levels are relevant in any kind of trading or investing. The levels given here are effective on "closing basis". So, initiate or close the trade set up accordingly. Square off your positions well before the target and not wait for a precise hit of the target. Those who are not familiar with derivatives, may not trade in our F&O calls.

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Wishing you a happy and successful trading!

STOCKS WEEKLY GLOBAL OUTLOOK AND STRATEGY

Sep 28, 2008

WEEKLY OUTLOOK NSE/BSE: 29SEP TO 03OCT 2008

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