Tuesday Strategt-------------------Date 07/07/09

There is lot more to write about the consequences and impact on various sectors of our economy after the announcement of Budget but I want to keep myself restricted to our Trading Strategy as for now and We are safe after this big deep fall of today and some of our strategy followers would have earned good amount today.
Market expectation failed today after the announcement of Budget by Mr. Pranab Mukherjee.No stimulus packages has been given. But the investors who are following my tips would be saved as I have given the IST resistance level of Nifty at 4472 and today the day high of Nifty was 4482 and in first hour market has not crossed this level so it was wiser decision to not go with long position.
Now. In my opinion this impact of budget will remain for few days and market has once again reached to the crucial level of 4150 so I will advice the investors to take the positions cautiously.
The confusing strategic declaration about the disinvestment policy of Public Sector units has worked as a bigger backdrop for these companies. I advice not to buy NTPC, BHEL, IFCI, NMDC for now and until the policy doesn't get clear.
More burdens for PSU banks are looking. Subsidy on interest for Higher Education and more agricultural stimuli will definitely create impact on the balance sheet of the banks.
Coming back to tomorrow strategy, the market is likely to open in negative mode and take buying position only if the nifty recovers to zero level or it trades with in 30-40 points drop.
The various levels for nifty are:-
Resistance 1-4252
Resistance 2-4384
Support1-4022 (More probability to touch this level)
Tata Steel is giving dividend of 16 rupees per share so keep a eye on this share and if breaks given Ist resistance level then take entry into this.
The various levels for Tata steel are:-
Resistance 1-406
Resistance 2-425
Support2-365(Take a buy position if it touches or breaches this level with in first hour of trade).

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