Tuesday, March 20, 2007

Nifty watch res near 13/21 ema , select stocks might breakout

3800/3840 nifty for breakouts to upside+ bottom confirmation
Dow jones if flat correction then 11.9 should hold and 12.3k should break
Fomc meeting tonight
Usually when fed stays flat we get a trong upmove.
already damn close to gap down res 3700-3720 if cleared then 3780-3800-3840

Pharma is looking good to me.
Eod short term bottom levels are being reconquered in pharma.
Ranbaxy above 340 will go back to 375-400
Seems like baxy is out of the merck acquisition race. big positive for baxy.
Orchid is already challenging 270 again above 270, 293/300/320 region
Divis is above 2900 again
watch the 13/21 ema res area carefully when trading long on all pharma
Same on nifty has not been retaken yet completely. We are still facing solid res at 13 ema

No comments: