QUICKGAINS PREMIUM NEWSLETTER 12/09/08

GOOD MORNING.

DEAR FRIENDS,

TOO MUCH RELIANCE

MARKETS HAVE BEEN HUNTING WITH RELIANCE INDUSTRIES FOR QUITE A LONG TIME. NOW, IT HAS COME TO HAUNT AND HUNTER BECOMES HUNTED. WEAKNESS IN RELIANCE INDS IS BEARING HEAVILY ON MARKET SENTIMENTS.

RELIANCE INDS. WILL MOST PROBABLY HIT 1850 IN EXTREME SHORT TO SHORT TERM. STOCK IS IN BEARISH TREND IN SHORT TO MEDIUM TERM. WHICH COULD REVERSED ONLY ABOVE 2150 & 2220. TILL THEN, EVERY RISE WILL BE AN OPPORTUNITY TO SELL.

ON BACK OF POSITIVE CLOSE ON DOW, NEW LOW IN CRUDE OIL PRICE, ASIAN INDICES IN POSITIVE TO MINOR LOSS & INFLATION COMING DOWN ARE MAJOR UPSIDES FOR THE DAY.

RUPEE FALLING BELOW 45 IS GOOD NEWS FOR EXPORTERS - TECH, HOSPITALITY, TEXTILES & READYMADES, GOLD & DIAMOND JEWELLERY & OTHER SUNDRY SECTORS. AND BAD NEWS FOR, NET IMPORTERS - OIL & GAS & REFINERIES.

TODAY, SENSEX MAY FACE RESISTANCES AT 14495, 14555 & 14670. WILL REMAIN WEAK BELOW 14375 TO FIND LOWER LEVELS AT 14205, 14160 & 14090.

INDIAN OVERSEAS BANK MAY SEE A MINOR BULLISH MOVE ON CROSSOVER OF 105 TARGETTING 115 IN EXTRME SHORT TERM. ONE MAY BUY ON DECLINES UPTO 98 WITH STOPLOSS PLACED AT 96 OR ELSE, WAIT FOR STOCK TO GAIN MOMENTUM (ABOVE 105) MAINTAINING STOPLOSS AT 102.

TAKE CARE!!

BEST REGARDS,

NS FIDAI