Market Guidance for 9th August 2006

Dear All ,

Yesterday it was a complete surprise that our markets rose nearly 2% and closing above 11000 for the first time after 18th May . US Fed has left the interest rates unchanged. But it may rise it again in the next month . So thats a good news for us. But the US markets reacted negatively & the asian markets are trading weak. I expect market to open with a positive upswing . But after some time people may book profits leading to a heavy sell off. To beleive the return of bullishness the indices must close above 11000 atleast for couple of days .

Nifty has a strong resistance at 3242 , a breakout of this can lead to 3285 shortly in a day or two . Play with Rolta again today also .

Regards.,

Muthukumar.K