Today's NSE volume is Rs 8100 Cr-- so market has gained on lower volume-- be careful in coming days esp next week is very crucial for Indian market- NSG decison will dictate the further trend.Technically Nifty will aim to cross 7EMA and further aim at 20EMA if NSG meet turns out positive
INTRADAY CALLS
NIFTY FUT: If uptrend continues then it will zoom up to 4378.25-4380.25 zone. Corrections up to 4310.75 can be used to buy. SL at 4288.00 level.
NIFTY FUT: Buy with a Stop Loss of 4288.00 level. Target at 4344.10-4346.10 zone.
Cash Market Intra-Day: RNRL (NSE Cash CMP 94.25) going up. Buy with a Stop Loss of 93.25 level.
Strong & Weak futures
This is list of 10 Strong Future Stocks
:Edu Comp,Strides arcolab, MPHASIS, Great Offshore, Indian Bk, Cummins india, AIA Eng., BOB, Hero honda & CAIRN.
And this is the list of 10 Weak stocks ;
Dena Bk, Alstom proj., Edelweiss Cap lt, Bongaigaon R, Oswal, NDTV, Hindalco, Chennai Petro, ABAN & Housing Dev.
Nifty is in Down Trend.
NIFTY FUTURES (F & O)
Above 4242 level, expect short covering up to 4276-4278 zone by
non-stop.
Support at 4213 level.
Below 4197-4199 zone, selling may continue up to 4163-4165 zone by
non-stop.
On Positive Side, rallies up to 4310-4312 zone can be used to sell. Stop Loss at 4344-4346 zone.
Short-Term Investors:
Reversal (Negative) is seen. Exit on rallies.
Short-Term Upward Target at 4378-4380 zone.
Short-Term Support at at 4129-4131 zone.
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SUZLON ENERGY (NSE Cash):
Likely to Zoom. Technically it should go up.If crosses & sustains at above 221 level then uptrend may continue.
Support at 199 level. Should not be allowed to break at any cost.
AIA ENGINEERING FUTURES (NSE):
Likely to Zoom. Technically it should go up.If crosses & sustains at above 1561 level then uptrend may continue.
Support at 1517 level. Should not be allowed to break at any cost.
----The Dow Jones Industrial Average closed at 11,715.18. Up by 212.67 points.
The Broader S&P 500 closed at 1,300.68. Up by 19.02 points.
The Nasdaq Composite Index closed at 2,411.64. Up by 29.18 points.
The partially convertible rupee <INR=IN> ended at 43.78/79 per dollar on yesterday, weaker than Wednesday's close of 43.71/72.
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Book Profits in CAPITAL GOODS Stocks
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Trading Calls 29th Aug 2008
Counters in the +ve Mphasis,
OTL, Patspin, Purva
Use Strict SL for All Trades
Buy Educomp-3587 above 3600 for 3699 with sl 3560
Buy HeroHonda-822 above 827 for 850 with sl 820
Short BHEL-1629 below 1610 for 1540 with sl 1630
Short HDFC-2246 for 2219-2200 with sl 2258
Short Wipro-414 below 412 for 398 with sl 416
+ve to Market
1. Us Market 2. Asian Market(mixed) 3. Rs.vs$ 4. Inflation
-ve to Market
1. Profit Booking 2. Continuous FII selling. 3. Technical weakness 4. Rumours 5. Expected IIP data in negative side 6. Short carried over.
Arvind Parekh
+ 91 98432 32381
