NIFTY FUT: If uptrend continues then it will zoom up to 4008.70-4010.70 zone. Corrections up to 3930.75 can be used to buy. SL at 3763.00 level.
NIFTY FUT: If uptrend continues then it will zoom up to 3952.75-3954.75 zone. Corrections up to 3818.90 can be used to buy. SL at 3763.00 level.
Cash Market Intra-Day: Sell SKUMARSYNF (NSE Cash CMP 43.00) for Intra-Day gains. Stop Loss at 44.00 level.
Corporate News Headline
Axis Bank received the approval from its board for a private placement of USD 50 mn of senior notes under its medium-term note programme. (ET)
IVRCL Infrastructures & Projects bagged the Rs. 4.18 bn Punasa Lift Irrigation Scheme, to be executed in Madhya Pradesh over a period of 36 months. (BS)
Hindustan Zinc got a nod from the National Board for Wildlife to set up a Zinc Dust and CGG unit near Rajaji national park in Uttarakhand. (ET)
Economic and Political Headline
The finance ministry has blocked a proposal from the department of industrial policy and promotion to allow FII to invest over and above the sectoral caps on foreign investment. (ET)
Indian Prime Minister Manmohan Singh said that the financial crisis in developed countries could spill over to the rest of the world. (Reuters)
The USD 700 bn financial-rescue plan, intended to restore confidence in the US banking system, collapsed in partisan wrangling as the House of Representatives voted down the proposal backed by the Bush administration and congressional leaders of both parties. (WSJ)
NIFTY FUTURES (F & O)
Below 3847-3849 zone, selling may continue up to 3821 level and thereafter it can tumble up to 3763-3765 zone by non-stop.
Hurdles at 3869 & 3897 levels. Above these levels, expect short covering up to 3981-3983 zone by non-stop.
Sell if touches 4065-4067 zone. Stop Loss at 4093-4095 zone.
On Negative Side, if breaks & sustains at below 3735-3737 zone then downtrend may continue.
Short-Term Investors:
Short-Term Upward Target at 4176-4178 zone.
Short-Term
Support at at 3651-3653 zone. ----------Strong & Weak futures
This is list of 10 Strong Future:
Syndibank, Hindunilvr, Col Pal, Bpcl, Acc, Glaxo, Hero Honda, Itc, Hindpetro & Ongc.
And this is the list of 10 Weak stocks:
Litl, Ivrprime, 31Infotech, Rajesh Expo, Kpit, Strtech, Aptecht, Niit Ltd, Hdil & Ranbaxy.Nifty is in Down Trend.
-----------USHA MARTIN (NSE Cash): Avoid Short Selling
in this scrip. Technically pullback should happen.Support at 47 level.
Expected to rebound at around this level. If not, then problem for bulls too.Hurdle at 54 level. Supply expected at around this level. This supply should get absorbed too.
SUZLON ENERGY FUTURES (NSE): Avoid Short Selling in this scrip. Technically pullback should happen.
Support at 139 level.
Expected to rebound at around this level. If not, then problem for bulls too.Hurdle at 168 level. Supply expected at around this level. This supply should get absorbed too.
The Dow Jones Industrial Average closed at 10,365.45. Down by 777.68 points.
The Broader S&P 500 closed at 1,106.42. Down by 106.85 points.
The Nasdaq Composite Index closed at 1,983.73. Down by 199.61 points.
The partially convertible rupee <INR=IN> ended at 46.95/96 per dollar on yesterday, weaker than 46.545/555 at the close on Friday.
Sell CAPITAL GOODS Stocks
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Arvind Parekh
+ 91 98432 32381
