Thursday, August 28, 2008

Positional traders
WE HAVE BEEN SHORTING FROM 4390 AGAIN.

CARRY 80% SHORTS FOR TOMMOROW.

NIFTY TARGETS 4160,4110.
OTHERS STOCKS TARGETS WILL ALSO BE REVISED DOWNWARDS.
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OUTLOOK FOR TODAY 28TH AUG

Positional traders

WE HAVE BEEN SHORTING FROM 4390 AGAIN. CARRY 80% SHORTS FOR TOMMOROW. NIFTY TARGETS 4160,4110. OTHERS STOCKS TARGETS WILL ALSO BE REVISED DOWNWARDS.


NIFTY FUT: If downtrend continues then it will fall up to 4205.05-4207.05 zone. Rallies up to 4271.70 can be used to sell. SL at 4293.05 level.


POSITIONAL TRADERS

SHORT MORE OF SAME STOCKS AND BUY MORE PUTS NEAR 4300-4330 LEVELS.
IF RELIANCE TRADES BELOW 2130,TGT 2100,2075. ELSE CARRY ALL OLD SHORTS FOR TOMMOROW.

POSITIONAL TRADERS

AVERAGE YOUR EDUCOMP SHORTS IF TRADES BELOW 3500.
HOLD ALL OTHER SHORTS/NIFTY PUTS.
SHORT ITC FOR A TARGET OF 178,174.REST CARRY ALL SHORTS.


NIFTY FUT: Sell with a Stop Loss of 4293.05 level. Target at 4237.05-4239.05 zone.

Cash Market Intra-Day: FSL (NSE Cash CMP 44.50) going up. Sentiment is weak and take a risk and sell. Stop Loss at 45.50 level.

Cash Market Intra-Day: RNRL (NSE Cash CMP 92.95) going up. Buy with a Stop Loss of 91.95 level.

NIFTY FUTURES (F & O) Above 4312 level, expect short covering up to 4344-4346 zone and thereafter expect a jump up to 4376-4378 zone by non-stop.

Support at 4281 level.

Buy if touches 4269-4271 zone. Stop Loss at 4237-4239 zone.

On Positive Side, if crosses & sustains at above 4430-4432 zone then uptrend may continue.

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(Correction: Yesterday we made a mistake by not adding one more resistance zone at 4387.20-4389.20 zone. Error is regretted.)

Short-Term Investors:

Short-Term Upward Target at 4462-4464 zone.

Short-Term Support at at 4205-4207 zone.

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HINDALCO INDS (NSE Cash): Likely to Zoom.

Suspicion is that yesterday's movement might be false signal.

If crosses & sustains at above 148 level then uptrend may continue.

Support at 131 level. Should not be allowed to break at any cost.

TATA STEEL FUTURES (NSE): Likely to Zoom.

Suspicion is that yesterday's movement might be false signal.

If crosses & sustains at above 623 level then uptrend may continue.

Support at 575 level. Should not be allowed to break at any cost.

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The Dow Jones Industrial Average closed at 11,502.51. Up by 89.64 points.

The Broader S&P 500 closed at 1,281.66. Up by 10.15 points.

The Nasdaq Composite Index closed at 2,382.46. Up by 20.49 points.

The partially convertible rupee ended at 43.71/72 per dollar on yesterday, stronger

than 43.84/85 at close on Tuesday.

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Book Profits in SENSEX Stocks
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Strong & Weak futures

This is list of 10 Strong Future Stocks:

Rolta , Punj lioyd, MPHASIS, HDFC, Crompton, SAIL, Strides, AIA Eng. Edu Solution & Indian Bank.

And this is the list of 10 Weak stocks

;Housing Dev., NDTV, Aban, Amtek Auto, Baongaigaon, Chennai Petrol, Indian Infoline, Suzlon energy, HTMT Glob & Rel Comm.

Nifty is in Down Trend.

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Trading Calls 28th Aug 2008





Counters in the +ve Bajaj-Auto, Aprind, Fortis, Gujfluoro, Mangalam and Nelcast, Brigade, IBN18, NIITECH



Use Strict SL For All Trade



Short Renuka-120 below 119 for 116-114 with sl 120.50

Short Welguj-318 below 315 for 300 with sl 320



Buy Hindzinc-564 for 574 with sl 560



Short IFCI-44.30 below 44 for 42-40 with sl 45

Short ABB-875 below 870 for 857 with sl 880



+ve to Market

1. Us Market 2. Asian Market(mixed) 3. F&O short covering 4. Rs.vs$

-ve to Market

1. Profit Booking 2. Inflation worries 3. continuous FII selling.
--
Arvind Parekh
+ 91 98432 32381