Trading strategy for 9th April 2012

The market closed the week flat ahead of long weekend and corporate quarterly earnings season due to start from this week onwards. The bellwether Infosys will announce its Q4 results on the 13th instant which will be keenly watched out for by the market. The Sensex closed the week at 17486 points gaining 81 points while the Nifty ended at 5322 with a paltry gain of 27 points. The market participants remained optimistic ahead of apex bank’s policy review mid-week whereby it is hoped that the RBI may bring in some positive economic measures for the slowing economy. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 5344.55)
The counter closed the week with marginal gain amid moderate volatility with barely three trading sessions. The counter this week may take cues from Q4 results of corporate houses and may remain in the range of 5264-5387, break above it may move up to 5407/5439 or else break below it may slide to 5239/5217. For today’s trading the counter to gain strength needs to trade and remain above 5355.75 whereby it may move up to 5373. Strong support for the counter exists at 5331.25 which if breached decisively with volumes then it may slide to 5319/5288.

EDUCOMP FUTURE (Last close 205.60)
The stock closed the week gaining over 5% with moderate volumes. The stock appears positive on charts and may move up to 209/212 on volume trading. Strong support for the stock exists at 203.25.
BANK OF INDIA FUTURE (Last close 372.50)
The PSU banking stock closed the week gaining over 2% with moderate volumes and appears positive on charts. The stock may move up to 376/379 on volume trading. Strong support for the stock exists at 368.25.

DEAR READERS,

PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades