The week that was.

What a week it was with the Nifty Futures down 137 pts on Monday 30.03.2009 at 2988 & showed enough strength to close the week at 3223 up 235 points on Thursday 02.04.2009. There could be a minor correction on profit taking which could drag the Nifty down to 3179/3129 or max upto 3065 level (unless globally there is no bad news over the weekend) which should be used as an opportunity to go long & not short at this level with a strict stop loss at 2985 level. The next target for Nifty is 3258 & then 3329 level. Stocks for the week. One could look at going long on Bharti only if it manages to cross 650/655 zone & close at that level, the immediate target is 677, if it closes above 677 then one can further add on to ones long position for a near term target of 720. ICICI is for the brave heart, this stock looks weak on the charts. I would avoid going long on this stock and would ideally short this stock with a strict stop loss of 380/385 level for an immediate target of 345 and then 325. Reliance Infra looks good on the charts & if it manages to stay above the 585 level one could go long with an immediate target of 670. Tisco: One could buy this stock in case of minor correction, this stock could go upto 265/270 levels.