Market Guidance for 18th Septembr 2006

Dear All,

Very good morning to all .

Though the sentiment is bullish overall , But i expect the Sensex to retrace atleast 300 points this weekend . All three major indices looks over bought & are staying close to resistance . If they broke this resistance we can witness Sensex rallying to 12500 in couple of days . But people will tend to book profits from today . So please avoid taking any fresh positions . Try to book profit as muh as possible today at higher levels .

UTIBank is at resistance 350 . A positive breakout can take it to 375 & reverse will take the price to 325 . So wait today & we can proceed accordingly tommorow.

Prismcement has broken 40 barrier , we can witness it go up to 45.50 in short term . Indiabulls has given buy call for this .

Hold on Ashokleyland till i tell u to sell off.

Happy trading .,
Regards.,
Muthukumar.K
kmk_most@rediffmail.com