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past short term calls follow-up/performance***(stocks to watch)

date,stock,reco price,high,% gain at high

***all analysis are based on self chart study only, actual trading gains may vary.

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    Saturday, July 28, 2007


    Ranbaxy and Itc stood firmly in falling market on friday.

    Market Next

    Going forward weekly support at 4400. August monthly support at 4300.

    The trendline support is now at 4430(intraday basis) and 4450(closing basis) for monday on the daily chart. If this is a regular profit booking it should have been over upto 4440 but if its deeper one it should last upto 4309. 4362 and 4325 are also significant levels. 4300-4309 should see some buying coming up if not if the crack continues then we would be staring at 4100. 4231 and 3972 are the retracement levels of the upmove from 3554 to 4650.

    I would like to avoid giving cash call ideas at this point of time since market is in correction mode though ranbaxy and itc are looking good on charts.

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