STOCK MARKET THIS WEEK [28/08/09-28/08/09]
This week market remained in positive region and got out from the sideways pattern. FII’s remained net buyers; they bought hardly 1600 crores and sold for nealy 300 crores. Revival of monsoon may be the reason for this up move I feel so. I expected breakout this week itself but it not happened. Nifty had also broke the 52 week high. Sep futures had started in bullish mood. Let’s see what happens come week.
STOCK MARKET TREND FOR COME WEEK [31/08/09-04/09/09]
Come week some tax cuts are expected and I feel, combined with monsoon factor, global cues this tax news will lead the market. Technically in the weekly price chart a bullish pattern was formed but still we should watch out for global cues for intraday trade.
To my understanding, DOW JONES had been continuously trading in an uptrend for past six weeks without any correction. This week a very tight range pattern was formed in the weekly price chart. To my knowledge I feel there would be profit booking in come week. If I am correct then come week DOW JONES would trade in negative territory and in tight range.

In domestic front, only two factors to be watched, one is tax cuts and another is monsoon factor. I feel these two factors will push nifty to higher levels. I feel global cues won’t be positive for come week. I suggest visitors to watch global cues and domestic news every day for their trading. Technically I feel we would see an up move in come week and would nifty able to close above 4828 levels then there might be a chance to touch 5000 levels. Would global cues are negative then nifty would trade in tight range. Let’s see what happens come week.
MARKET TREND FOR MONDAY
As nifty closed just below the 52 week high levels on Friday we may expect an up move on Monday that too depends on global cues. The 4620, 4734 and 4828 levels are the important levels to be watch for Monday trade. I suggest visitors to stick to strict stop loss and trade.

FREE DAYTRADING TIPS FOR NIFTY
Technically above 4734 levels nifty seems to be bullish. The 4828 levels would be a crucial resistant for Monday and as well as for the whole week. I suggest visitors to buy nifty only above 4734 levels with strict stop loss 4670 for a target of 4828.
NIFTY
SUP: 4670, 4620. RES: 4734, 4770, 4828, 4870. STOPLOSS: 4670.
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