Technical Calls 18th june 2009

SENSEX HAS STARTED FORMING LOWER TOP. YESTERDAY IT HAS BROKEN IT'S PREVIOUS BOTTOM OF 14536. SO IT MAY START FORMING LOWER TOP & LOWER BOTTOM FORMATION SO PER MY VIEW WE ARE ENTERING INTO CORRECTION MODE. FROM 8047 TO 15600..... 38% 12730 --- 50% 11823 & 62% IS 10917. (PLS TAKE CARE OF YOUR LONG POSITOIN & IF U R BULLISH PLS FOLLOW STOPLOSS)
SENSEX HAS STARTED FORMING LOWER TOP. YESTERDAY IT HAS BROKEN IT'S PREVIOUS BOTTOM OF 14536. SO IT MAY START FORMING LOWER TOP & LOWER BOTTOM
HDFC and HDFC Bank are set to reduce interest rates on term deposits by upto 25 basis points.
Dow-7, Nasdaq+12, Nikkei-177.
Yday FIIs-364cr in Cash, -1299cr in FNO. DIIs+569cr in Cash.

GRASIM (500300) CMP (Rs 2405;) Buy for target of 2611 with stop loss of 2321.

14868-14748 On Wednesday 14868-14748 will act as buy area.
Strong markets will not break 14822
15111-15292-15600-16196-16678-16951. Above 14868 Sensex could test 15022 (Tuesday's high). Further it could open for 15111-15292-15600-16196-16678-16951.
14549-14168 Sensex has support at 14621 (Tuesday's low). Below that we open for 14549-14168

4487-4450 On Wednesday 4487-4450 will act as buy area.
Strong markets will not break 4473.
4552-4604-4694-4913-5065-5300. Above 4487 Nifty could test 4536 ( Tuesday's high).Further it could open for 4552-4604-4694-4913-5065-5300.
4365-4155-4090 -3995-3737 Nifty has support at 4411 (Tuesday's low).Below it could open 4365-4155-4090-3995-3737