NIFTY OCT FUTURES
SUPPORTS AT 3869 3831 3811
RESISTANCE AT 3912 3929
INTRADAY CALLS
NIFTY FUT: Sell with a Stop Loss of 3912.60 level. Target at 3811.35-3813.35 zone.
Cash Market Intra-Day: Buy RANBAXY (NSE Cash CMP 267.35) for Intra-Day gains. Stop Loss at 263.35 level.
Cash Market Intra-Day: Sell THERMAX (NSE Cash CMP 410.50) for Intra-Day gains. Stop Loss at 414.50 level.
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Headlines for the day
Corporate News Headline
Tata Steel agreed to buy 19.9% stake in Canadian miner New Millenium Capital Corp for USD 22.6 mn. (ET)
Sterlite Technologies received a Rs. 24 cr order from state-run telecom major Bharat Sanchar Nigam for supplying optical fibre cables. (ET)
Omaxe received an order worth Rs. 907.1 mn to build a township for Hindustan Zinc in Udaipur. (ET)
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Economic and Political Headline
Finance Ministry said that Reserve Bank is unlikely to ease the requirement for banks to keep cash with the central bank through a cut in CRR rate in its mid-term monetary review on October 29 even though the banking system is facing liquidity problem. (ET)
The government is considering a proposal to scale up FDI in single-brand retail to 100%, as well as allow 51% FDI in multi-brand retail of electronics goods, computers, sports goods as well as watches. (BS)
Orders to the US factories fell 4% in August most in almost two years, signalling that business spending slowed down even before the recent worsening of the credit crunch. (Bloomberg)
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NIFTY FUTURES (F & O)
Profit booking up to 3929 level will be healthy too.
Hurdles at 3977 & 3988 levels. Above these levels, rally may
continue up to 4007-4009 zone by non-stop.
Supply expected at around 4046-4048 zone on
upper side. This supply should get absorbed too.On Negative Side, rebound expected at around
3869-3871 zone. Stop Loss at 3831-3833 zone.Short-Term Investors:
Reversal (Positive) is seen. Avoid Short Selling at lower levels.
Short-Term Upward Target at 4065-4067 zone (or) at 4104-4106 zone.
Short-Term Support at at 3773-3775 zone (or) at 3811-3813 zone.
--------GAS AUTHORITY (I) (NSE Cash): Avoid Short Selling in this scrip. Technically rebound expected.
Support at 401 level. Rebound expected at around this level. If not, then problem for bulls too.
Hurdle at 430 level. Supply expected at around this level. This supply should get absorbed too.
BPCL FUTURES (NSE): Likely to Fall. Technically Profit Booking expected.
If breaks & sustains at below 346 level then downtrend may start and have caution.
Hurdle at 375 level. Supply expected at around this level. This supply should get absorbed too.
-------The Dow Jones Industrial Average closed at 10,482.85. Down by 348.22 points.
The Broader S&P 500 closed at 1,114.28. Down by 46.78 points.
The Nasdaq Composite Index closed at 1,976.72. Down by 92.68 points.
Indian bond and currency markets were closed on Thursday for a public holiday.
-------Strong & Weak futures
This is list of 10 Strong Futures: TVS Motors, BPCL, Indian Bk, BOB, Axis Bk, ACC, Hero Honda, Lupin , Hind Petro & HDFC. And this is the list of 10 Weak stocks: IVR Prime, NIIT, Aptech training, Sterlite technol, Rajesh Exports, JSW Steel ltd., Kpit, HDIL, Ranbaxy & LT.
Nifty is in Down Trend.
-------Sell OIL & GAS INDEX Stocks
----+ve Indices and sector : Bank, OIL&Ref ACC, TVSmotor, Lupin, Alchem, PNB, Punjlloyd, Tricom, CESC, Fedbank, PFC, MRPL
Buy ITC-192 for 196-199 with sl 190 [Breakout]
Buy Cipla-232 for 246 with sl 228
Buy Gail-415 for 433 with sl 406
Buy HDFCBank-1295 above 1315 for 1400 with sl 1300
Buy HDFC-2207 above 2220 for 2270 with sl 2200
Buy ONGC-1040 above 1055 for 1200 with sl 1040
Friday's Calls
Buy Axis-720 for 740 with sl 711 [Trading]
Buy GAIL-408 for 416 with sl 404
Buy BOB-297 above 304 for 311-17 with sl 300
Buy Bhartiartl-784 above 790 for 813 with sl 784
Buy HPCL-242 above 245 for 253 with sl 240
Buy BOI-285 for 300 with sl 282 [Breakout]
Buy BPCL-360 for 374 with sl 355
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+ve to Market
1. Technical breakout 2. Script wise movement
-ve to Market
1. US market 2.Asian Market 3. Sentiment 4.FII continous selling 5. Bail our package not +vely discounted 6.
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Arvind Parekh
+ 91 98432 32381
