Monday, March 16, 2009

>Daily Technical Report (MARWADI FINANCIAL)

Wall street consecutively perform in good rally, Asian market also trading in positive range due to optimism stimulus will revive growth. Since last two trading session we seen the good rally in domestic market also and we expect that the rally may continue for short time. So it is advisable to book some amount of profit at every higher levels. Again the inflation numbers is continuing in southwards direction so it is good sign to developing economy. Now onwards we have to seen, how central bank manages unnecessary volatility in the currency, and it is required to stabilize the currency rate. Power Finance company also get good amount of liquidity to further finance the project as well as execution the project, keep watch on that counters.

On technical note today market open with positive note and after positive opening it will take volatile mode so intraday trader we recommend to trade with positive bias. In morning session market open with marginal positive note, so wait fro the conformation of the trend to take long view. Again the investor have to book profit in good market and wait for lower levels buying.

Today Sensex trade in the range of 8930-8620 And Nifty in the range of 2775-2670

To see full report: Technical Report 16-03-09