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• Raghav’s Picks:Weekly Technical Outlook for the BSE Sensex and NSE Nifty for 22-07-2007

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  Raghvendra Narendra Dhoot    Group moderator

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  Raghav’s Picks:Weekly Technical Outlook for the BSE Sensex and NSE Nifty for 22-07-2007

  BSE Sensex – Reuters – .BSESN
  NSE Nifty – Reuters Symbol – .NSEI
  
  The Sensex and the Nifty have been rising continuously for the past 6 weeks; in this period the Sensex has risen more than 1500 points while the Nifty more than 421.
  
  In the last 8 months, the indices have risen continuously for a maximum period of 7 weeks; from 29th December 2006 to 9th February 2007, the Sensex gained more than 1000 points while the Nifty gained more than 300 points without any Friday in between which showed a net weekly loss.
  
  Will the coming week, break the continuous weekly winning streak then or nudge the markets closer to 16000?
  
  The Sensex and the Nifty are clearly looking overstretched and overbought at this point of time.
  
  Add to it the derivatives settlement later in the week, will ensure that the volatile excitement that has become the trade mark of our markets will be present in full strength this week.
  
  The Sensex could touch/cross 15650 before going into a correction/ sideways move.
  
  Medium to long term investors can buy on dips as long as the Sensex (Nifty) is trading above 15102 (4430). Short term investors can stay away for a while or keep tight stop losses and reduce leveraged positions.
  
  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...
  
  • 22 Jul 2007, 1:10 pm
  Raghvendra Narendra Dhoot wrote: > BSE Sensex – Reuters – .BSESN > NSE Nifty – Reuters Symbol – .NSEI > > The Sensex and the Nifty have been rising continuously for the past 6 > weeks; in this period the Sensex has risen more than 1500 points > while the Nifty more than 421. > > In the last 8 months, the indices have risen continuously for a > maximum period of 7 weeks; from 29th December 2006 to 9th February > 2007, the Sensex gained more than 1000 points while the Nifty gained > more than 300 points without any Friday in between which showed a net > weekly loss. > > Will the coming week, break the continuous weekly winning streak then > or nudge the markets closer to 16000? > > The Sensex and the Nifty are clearly looking overstretched and > overbought at this point of time. > > Add to it the derivatives settlement later in the week, will ensure > that the volatile excitement that has become the trade mark of our > markets will be present in full strength this week. > > The Sensex could touch/cross 15650 before going into a correction/ > sideways move. > > Medium to long term investors can buy on dips as long as the Sensex > (Nifty) is trading above 15102 (4430). Short term investors can stay > away for a while or keep tight stop losses and reduce leveraged > positions. > > 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