Market Technicals for the week ending 28th September

Indian Markets Technicals

Both Nifty & Sensex have become very strong at these levels. The trend
for fresh buying positions will continue if the markets trade beyond
4724 & 16216 . There are chances that Nifty may move 261 - 262 points
up & Sensex may move 801 - 802 points up. There are chances of a
weekly movement of around 745 points & 2295 points in Nifty & Sensex
respectively.

If the markets sustain above 4968 & 16964 levels, then they will try
to touch 5099 & 17365 levels.

On the other hand, market has a weak support at 4594 & 15815 because
the markets may further fall down to 4350 & 15066 levels from this
point due to panic selling & profit booking which can act as a strong
support.

Intraday Market Technicals for 24th September

Both Nifty & Sensex have become very strong at these levels. There are
chances that Nifty may open 28 - 29 points down & Sensex may open 67 -
68 points down from where it will try touch 4884 & 16684. There are
chances of an intraday movement of around 240 points & 615 points in
Nifty & Sensex respectively.

If the markets sustain above 4884 & 16684 levels, then they will try
to touch 4930 & 16805 levels.

On the other hand, market has a weak support at 4762 & 16375 because
the markets may further fall down to 4686 & 16187 levels from this
point due to panic selling & profit booking which can act as a strong
support.

US Markets Technicals

Dow have become strong whereas Nasdaq have become very strong at these
levels. The trend for fresh buying positions will continue if the
markets trade beyond 13691 & 2643 . There are chances that Dow may
move 514 - 515 points up & Nasdaq may move 79 - 80 points up. There
are chances of a weekly movement of around 1280 points & 215 points in
Dow & Nasdaq respectively.

If the markets sustain above 14077 & 2711 levels, then they will try
to touch 14334 & 2750 levels.

On the other hand, market has a weak support at 13434 & 2603 because
the markets may further fall down to 13049 & 2535 levels from this
point due to panic selling & profit booking which can act as a strong
support.

US Markets Calls

Southern Copper Corporation produces copper, molybdenum, zinc, and
silver. It engages in mining, milling, and flotation of copper ore to
produce copper concentrates and molybdenum concentrates; the smelting
of copper concentrates to produce anode and blister copper; and the
refining of blister/anode copper to produce copper cathodes. The
company also engages in the mining and processing of gold and lead, as
well as produces refined copper using SX/EW technology. It operates
the Toquepala and Cuajone mines in the Andes Mountains, which is
located approximately 984 kilometers southeast of the city of Lima,
Peru; and a smelter and refinery west of the Toquepala and Cuajone
mines in the coastal city of Ilo, Peru. Southern Copper Corporation
has its mining, smelting, and refining operations in Peru and Mexico,
as well as exploration operations in Chile. The company, formerly
known as Southern Peru Copper Corporation, was founded in 1952 and is
based in Phoenix, Arizona. Southern Copper Corporation is a subsidiary
of Americas Mining Corporation.

Buy Southern Copper at current levels with a medium-term target of
136.53 & with a stoploss/ average below 111.67.

Derivatives Calls

Futures

Buy Nifty Futures at current levels with a target of 4939.85 & with a
stoploss/ average below 4779.05.

Buy Rolta Oct.' 07 Futures at current levels with a target of 603.65 &
with a stoploss/ average below 490.35.

Options

Buy 4900 CE Oct.' 07 with a target of 155.40 & with a strict stoploss
below 87.85.

Buy 4700 PE Oct.' 07 with a target of 125.15 & with a strict stoploss
above 85.35.

Buy RNRL 70 CA Oct.' 07 with a target of 17.25 & with a strict
stoploss above 9.40.

Buy RNRL 60 PA Oct.' 07 with a target of 5.15 & with a strict stoploss
at 0.00.

Long Term Delivery Calls

Buy Bombay Dyeing at current levels with a target of 1519.75.

Buy Cairn India at current levels with a target of 228.50.

Medium Term Delivery Calls

Buy Mawana Sugars with a medium-term target of 46.95 & with a
stoploss/ average below 28.00 .

Short Term Delivery Calls

Buy NEPC India with a short-term target of 24.80 & with a stoploss/
average below 21.95.