- Date : 01 Oct 2010 RSI and Stochastic suggesting Nifty is likely to move between 5,990-6,200<http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#technical> On daily chart, Nifty is exhibiting “channel pattern ", suggesting breakout can be either side, currently facing stiff resistance at 6,210-6,230 if this level breached decisively then we could see rally up to 6,260 mark and on the flip side immediate strong support at 5,960 if this level breached then we could see fall up to 5,900 mark. Technical momentum indicator Stochastic is currently moving in neutral zone, on the brink of entering into oversold territory indicating uptrend. RSI is trading in oversold territory at 77 showing positive crossover. Another technical indicator MACD is trading in positive zone, also indicating uptrend. Today Nifty has just managed to close above 8 Day and 34 day EMA and not showing any reversal sign for coming week, expecting small correction in forthcoming session but overall looking positive and is likely to move between 5,990-6,200.
Technical Pick BPCL: Sell Bajaj finserv: Sell MSK Project: Buy Sujana tower: Buy <http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#technical> Market is overvalued; FIIs inflow is supportting share price appreciation<http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#indian> Foreign funds continue to aggressively mop up Indian shares. Indian markets, like other emerging markets are largely dependent in liquidity flows and good fundamentals may not be a good enough reason for stock prices to move up if theres no liquidity to support share price appreciation. Further, concern is that the IPO of state-run Coal India in mid-October 2010 which plans to raise about Rs 15,000 crore,would suck liquidity from the secondary equity markets. Going ahead, the key risk to flows is valuation risk (overvaluation relative to other Asian peers). Buying could be seen in FMCG and Cement stocks while selling pressure could witness in Banking, Metal and Realty stocks. Fundamental Pick Dena Bank: Buy Madhucon Project: Buy <http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#indian> Global markets cautiously eyeing on policy meeting of Bank of Japan and England<http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#global> Global equity market managed to give a positive closing during this week amid high volatility. After a subdued start led by financial stocks, as a debt downgrade for an Irish bank reignited fears about Europes banking system, global markets get some strength on the back of some upbeat economic news from US and a strong set of economic numbers from China and Japan. Further, the comments, along with speculation that European central banks will purchase troubled debt, helped relieve worries about sovereign debt. Moreover, the week ahead brings another key round of economic indicators, headlined by the Bank of Japans monetary policy meeting on Oct. 4-5 in which it may ease policy, as worries mount about the fragile economic recovery due to the yens rise, slowing overseas demand and stalling output growth. While recent softening property figures might be enough to prevent the Reserve Bank of Australia raising the official interest rate next week, as it is expected that Australias big banks will raise rates regardless. Further, with expectation of 0.3% fall in US pending home sales markets may turn cautious. <http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#global> Crude prices expected to continue the rally, gold prices may remain flat<http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#commodity> Crude prices may continue with the upward rally in the coming week. The prices are likely to rise on speculation that US inventories will drop as the economic rebound accelerates. The coming week may see the gold prices remaining flat, after touching a record high in this week. The international prices are unlikely to rise as the economy rebounds. Investors might take up profit selling as well. Domestic gold prices may pick up modestly amidst the festivities. <http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#commodity> Tight cash condition may prevail till mid october, Bonds may stay flat<http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#debt> Owing to tight cash condition, bond prices are expected to stay flat in the coming week. For the next three weeks, the government has lined up supply of Rs 11,000 crore bond for every week which will check any sharp runaway in bond prices. We expect liquidity to ease only towards the middle of October as government spending picks up. <http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx#debt> You can also view the detailed report by *clicking here.<http://www.indiabulls.com/securities/mailermis/weekly-reports/weekend-platter-01Oct2010.aspx> * *Warm Regards, * *Indiabulls Securities Limited* Note: Kindly disable your pop-up blocker if the report does not open on clicking. <http://www.facebook.com/IndiabullsSecurities> Equity Analysis<http://www.indiabulls.com/securities/research/equityanalysis.aspx> • Derivative Strategy<http://www.indiabulls.com/securities/research/DerivativeStrategy.aspx> • Commodity<http://www.indiabulls.com/securities/research/Commodity.aspx> • Market Commentary<http://www.indiabulls.com/securities/research/MarketCommentary.aspx> • Equity Report<http://www.indiabulls.com/securities/research/EquityReport.aspx> • Special Report<http://www.indiabulls.com/securities/research/SpecialReport.aspx> [image: Stock Watch]<http://www.indiabulls.com/securities/market/Real_Time_Information/stock-watch.aspx> [image: Indices Snapshot]<http://www.indiabulls.com/securities/market/Real_Time_Information/SnapShot.aspx>[image: Bulk Deals]<http://www.indiabulls.com/securities/market/market_information/Bulk_Deals.aspx> [image: Commodity Commentary]<http://www.indiabulls.com/securities/commodity/commoditycommentary.aspx> Indiabulls Group <http://www.indiabulls.com> | Financial Services<http://www.indiabulls.com/financial> | Securities <http://www.indiabulls.com/securities> | Real Estate<http://www.indiabulls.com/realestate> | Power <http://www.indiabulls.com/power/default.htm> -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. 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