Thursday, March 5, 2009

>Daily Technical Report (MARWADI FINANCIAL)


Wall street snaps 5-day losing streak, Asian market up as china’s wen pledges increased spending. Reserve bank fulfill the much awaited reduction in Key policy rate, both Repo and R-repo rate cut by 0.5%. From this decision we expect that the liquidity situation, especially in PSU bank is increase. Further loan rate cut and lending increase from this levels. Housing and other interest sensitive sector get the benefit from this decision, and provide some base to create to demand. So this is allover good effects to Indian economy and stabilization of currency, that is good sign to Indian economy.

On technical note we expect market open with positive Gap and through the day will remain in positive territory. Today especially banking counters and interest sensitive counters looks attractive so concentrate in that segment. Intraday trader it is advisable to make fresh position after conformation of the trend and in morning session open with Gap up but it may consolidate further so wait for that consolidation and after it is recommend to make fresh position.

Today sensex trade in the range of 8475-8345 And Nifty in the range of 2670-2630

To see full report: Technical Report 05-02-2009