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07 July 2009

Nifty for 8th July 2009

Before market hrs:
* US markets closed down after a breather day on Monday.
* Asian markets are trading in negative territory.
* SGX Nifty is trading weak at 4135 (-57.5 pt) at 9.00 am.
* TRIN at 1.2 is positive.
* RIL 1860 above is important level for closing.
* Gap down opening buy cash stocks (SL 4080 closing basis)
* Supports: 4143, 4092 and Resistance: 4250, 4385 levels.
* BUY NF at around 4181 for targets 4200/4225 (SL 15 pt)
* SELL NF at around 4223 for targets 4192/4176 (SL 10 pt)
* Swing reversals: 2 day (4480) and 5 day (4480) - - > DOWN.
* Hold NTPC and PowerGrid for long term.
* Buy 4000 PE if Nifty declines below 4080 SL 4145 (Nifty Cash)

End of the day:
* We were neutral today.

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