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Raghav’s Picks - Weekly Technical Outlook for the BSE Sensex and NSE Nifty - 05-08-2007
BSE Sensex – Reuters – .BSESN
NSE Nifty – Reuters Symbol – .NSEI

Last week I had indicated in this column that the Sensex would consolidate around 15000 with a negative bias before moving up again.

Going forward, the Sensex is expected to continue consolidating between 14900 and 15300.

Reliance Industries Ltd & State Bank of India, the 2 index heavy weights are looking weak/ overbought at the moment, but I expect the IT sector to regain lost ground and move up substantially in the weeks to come; thereby offsetting any weakness in RIL and SBI.

Friday’s fall in the US markets may cause our markets to open with a downward gap Monday but expect them to regain ground during the course of the day.

Small, leveraged or short term investors are better off, staying away from the markets, till they stabilize.

Medium to long term investors can hold on to their quality portfolios with selective buying on dips as along as the Sensex is above 14700.

For detailed market analysis, investment, trading calls and, advisory services with respect to investing in Indian Markets, please mail me on rnd24566@gmail.com or use the personal message link: http://www.xing.com/go/privatemessage/RaghvendraNarendra_Dho...

Raghav @ Raghav's Picks
- 05 Aug 2007, 7:22 pm
Raghvendra Narendra Dhoot wrote: > BSE Sensex – Reuters – .BSESN > NSE Nifty – Reuters Symbol – .NSEI > > Last week I had indicated in this column that the Sensex would > consolidate around 15000 with a negative bias before moving up again. > > Going forward, the Sensex is expected to continue consolidating > between 14900 and 15300. > > Reliance Industries Ltd & State Bank of India, the 2 index heavy > weights are looking weak/ overbought at the moment, but I expect the > IT sector to regain lost ground and move up substantially in the > weeks to come; thereby offsetting any weakness in RIL and SBI. > > Friday’s fall in the US markets may cause our markets to open with a > downward gap Monday but expect them to regain ground during the > course of the day. > > Small, leveraged or short term investors are better off, staying away > from the markets, till they stabilize. > > Medium to long term investors can hold on to their quality portfolios > with selective buying on dips as along as the Sensex is above 14700. > > For detailed market analysis, investment, trading calls and, advisory > services with respect to investing in Indian Markets, please mail me > on rnd24566@gmail.com or use the personal message link: > http://www.xing.com/go/privatemessage/RaghvendraNarendra_Dhoot > > > > Raghav @ Raghav's Picks

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Raghav’s Picks - Weekly Technical Outlook for the BSE Sensex and NSE Nifty - 05-08-2007