Tips for 17.03.2008

JAI SHRI KRISHNA
US MKT SLIPPED IN DEEP RED ON FRIDAY.
ASIAN MKT TRADING DEEP LOWS,
HANGSENG DOWN MORE THAN 1000 POINTS AND NEKKI TRADING -500 POINTS..
FED CUTS DISCOUNT RATES BY 25 BASIS POINTS WITH IMMEDIATE EFFECT.
LIKELY TO CUT 50 BASIS POINTS MORE IN ITS MEETING ON 18TH. CROSSOVER FRIDAY HIGH ONLY. MORE UP SIDE……………
DOWN SIDE GAP OPENING BUT LIKELY TAKE SUPPORT AT LOWER LEVEL…..CONSIDER DOWN SIDE BSE 15332 AND NSE 4448 ARE A STRONG SUPPORT AND ANY CLOSE BELOW LOOKS VERY BEARISH AND DOWN SIDE TARGET 14800,14500/ 4050-4000 WHICH IS A STRONG BUYING ZONE. HIGHER LEVEL CONTINUE IT WILL FACE RESISTANCE 17200-17500 / 5000-5100. CLOSE ABOVE THESE LEVEL FIRST SIGN OF TREND REVERSAL BUT FINAL CONFIRMATION ONLY ABOVE 18137 / 5400-5500. NIFTY FUTURE : TODAY SUPPORT 4622 BREAK BELOW MORE DECLINE, TODAY RESISTANCE 4690.
NTPC FUT : BUY WITH STOP LOSS OF 192 . . . . . TARGET OF 199, 204 . . . .
CHAMBAL FERT FUT : BUY WITH STOP LOSS OF 50 WITH TARGET OF 55, 57.50 . . .
NAGARJUNA FERT FUT :BUY WITH TARGET OF 42, 45 . . . . . . .KEEP STOP LOSS OF 38. . . .ISPAT IND FUT : BUY