for 12.02.08

Hi,

Before anything, I will talk about ESSAROIL for Pallavi.

Sister,I am sorry but there is nothing that I would suggest you to hold EssarOil. It have violated critical levels. I suggest you to sell it now and buy at lower level. If it breaks low of 166, you can even short this. Rest depends on you and your taste of trading.

We are in deep trouble. We , Sensex, closed below 200 DMA this much first time after 08.06.06. Lets see if it can hold 16,300, It may go around 14,850. If it does this then a three wave will be complete and we can see up move. Right now I see 15000. If still there is weakness we will find support around 13,450. I don’t see anything below 13,000,even if world war III is there. Remember if market goes around 13000, there will be no reason not to buy anything, every bad news will appear and even your mother who never looked at market will tell you to sell and then remember my blog and start buying.

What to trade tomorrow:-

Wait lemme finish my PEG. Okay here it is,

TATAMOTOR - SHORT BELOW 684.

TATASTEEL - SHORT BELOW 713.

IFCI - SHORT BELOW 54.75

BHARTIARTL - SHORT BELOW 824.

LONGS:

BILT - LONG ABOVE 155.

Well, I would like to be a scrip at your front screen, IGLFERT.

BEST OF LUCK

Kailash Pareek (Johnny)

098640-30931