Wednesday, February 18, 2009

>Daily Technical Report (MARWADI FINANCIAL)

Market fall around the world. All most all the global market perform in negative zone due to recessionary impact deepen. Since last two days we experience the massive sell-off in the Indian equity market. Effects of budget and global recessionary pressure come together and market comes in to bearish zone. Again today also looks same kind of situation, so we recommend to hedge the position with appropriate price put. Againcounter commodity Gold market are at a life time high rate due to safe heaven of investment.

One expectation from the central bank is that they may cut key policy rate to enhance the liquidity in the system and boost up the sentiments, so keep watch on that counters.

On technical note market looks open with gap-down and through the day will remain in the negative territory. In morning session Gap-down opening but after Gap-down recovery is possible. In morning session it is to be wait and watch strategy and stay with key support. After taking a key support short covering is possible, and conformation of that event makes fresh position.

Today sensex trade in the range of
9125-8905 And Nifty in the range of 2810-2715

To see full report: Technical Report 18-02-2009