MARKET THIS WEEK [06-07-09 - 10-07-09]
This week I expected nifty to touch 3600 levels as budget was not delivered to that much as expected. Even positive IIP data too did not helped nifty to move up. To my knowledge this shows that nifty moved up only on speculation and not on valuation. Let’s see what happens come week.
MARKET VIEW FOR COME WEEK. [13-07-09 – 17-07-09]
Budget may not deliver as much as market expected but it is a growth oriented budget. As FM told that, a) the budget is designed in such a way to attract FII and FDI, b) if monsoon revives then the GDP would be around 6-7%, this is some what higher than previous number. So in growth front there will be improvement in future but still selling pressure in the nifty will prevail until nifty fill the gap created on 18-05-09 due to the lot of expectation on the budget. However this month corporate results to come, surely the numbers will have an impact on the rally. Even though IIP data was improving capital goods contribution was decline and monsoon is still not favorable, so I feel the GDP numbers this quarter may not be so impressive. Based on this I feel come week market will be mixed. Let’s see what happens.
NIFTY LEVELS [13-07-09 -17-07-09]
TRADING RANGE: 4375 - 3850
SUP:3985, 3850,3602. RES: 4116.4240,4375.
MY VIEW FOR MONDAY
As nifty fall very steep on Friday in last hour we would expect a pull back on Monday and any positive numbers of axis bank may support nifty up move but remember the past up rally was based on expectation, not on valuation, so I feel profit booking will happen at higher levels.
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NIFTY LEVELS
On Friday nifty crossed the first resistant but could not move further. If I am correct nifty may close above the opening levels.

SUP: 3985, 3921. RES: 4116, 4161.
I suggest visitors to investment in the market when nifty approaches 3600 levels, we should invest part by part on every decline. I will give investment call come week.
Thanks for visiting!