mkt ahead...17th mar 2010...

another breakout above 5151. most tgts done. expected profit booking did'nt come after monday. nifty tgt is now raised to 5300 for the short term. tsl for short term positional longs can be raised to 5090 cl basis.

mkt ahead...16th mar 2010...

no change in the nifty view.

my views for the dow jones and s&p500(us) are as follows:

unlike nifty or sensex the dow has been technically quite steady and stable mkt not created panic of any sort and holding its supports, maintaining the uptrend on intermediate and long term(one year) charts. if continues like this then a tgt of 11300 or more should be achievable this year in medium term once it starts trading above the 10767 lvl. this could possibly be a final leg up before it corrects significantly and then heads higher on long term charts.

the s&p500(us) is currently outperforming the dow index and may well lead in breaking out on upside. if that happens then 1230-1250 should be achievable in short to medium term. other things said about dow applies to the s&p index also.

-abhay r somkuwar.