Market Note
Firstly
thanks to you all for the over whelming response to the Dow analysis
which
has started appearing in MarketFastFood postings. Many people have called
up and
appreciated the inclusion of Dow and has asked to continue the same.
Others also may write
their opinions on the groups so that things could be improved further.
The levels
posted in the issues over last seven days are still holding good and
Nifty
has taken great support at around 4930. This would now become our medium
SL for
trading. The SL for NF would be at same 4930.
New and
Newer events are unfolding almost everyday with now Rupee showing its
weakness. Things like bomb blasts in Jaipur also hit the sentiments
at Forex market. Stock
market has become immune to such news. Govt has to take serious efforts
to bring back acts
like POTA which was repealed by the present soft to terror Govt.
Just two
days of trading for the week to close and if Dow maintains at these
levels
or higher we may see better days ahead. Biggest support for Dow comes
as 12680 – 12650.
Monday will be a holiday for Indian markets hence one should be careful
in carrying over
positions on Friday.
By
VIVEK KARWA
Updated:
15th May 2008
