Tuesday, October 7, 2008

Strong & Weak futures
This is list of 10 Strong Futures:
BPCL, TVS Motors, HPCL, Hero Honda, Lupin, UBI, Hindustan Uni, PNB, Mosear Bear & Indian Bk.
And this is the list of 10 Weak stocks:
Rajesh Ex., 3I infotech, Praj Inndustr, NIIT, Aptech Training, HDCL, Sterlite Tech, JSW Steel, S Kumar & LT.

Nifty is in Down Trend.
FII DATA
FII07/10: -680.42 Cr. (Prov)
DII07/10: 548.29 Cr. (Prov)
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NIFTY FUT: Unwinding should continue up to 3437.40-3439.40 zone. Rallies up to 3615.70 can be used to exit. SL at 3787.30-3789.30 zone.
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NIFTY FUT: Unwinding should continue up to 3591.70-3593.70 zone. Rallies up to 3654.25 can be used to exit. SL at 3787.30-3789.30 zone.
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NIFTY FUT: SL triggered. Unwinding should continue up to 3649.55-3651.55 zone. Rallies up to 3692.85 can be used to exit. SL at 3787.30-3789.30 zone.
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Cash Market: Sensex Stocks shining. Gainers are JAIPRAK ASSO, ONG CORP LTD & HOUSING DEVELOPMENT FINANCE CO
INTRADAY
NIFTY FUT: Buy with a Stop Loss of 3668.85 level. Target at 3787.30-3789.30 zone.
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SENSEX (Pre-Market): Higher opening expected. Expected to open high at around 300-320 points higher.

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GM!!!! "Doubt isn’t The opposite of Faith; it is An Element of Faith."
OUTLOOK FOR TODAY 7TH OCT 2008
Strong & Weak futures
This is list of 10 Strong Futures:

BPCL, TVS Motors, HPCL, Hero Honda, Lupin, UBI, Hindustan Uni, PNB, Mosear Bear & Indian Bk.

And this is the list of 10 Weak stocks:

Rajesh Ex., 3I infotech, Praj Inndustr, NIIT, Aptech Training, HDCL, Sterlite Tech, JSW Steel, S Kumar & LT.
Nifty is in Down Trend.

Headlines for the day

Corporate News Headline

Provogue announced that the UK-based LTG International would invest Rs. 569.7 mn to pick up 3.36% stake in a unit of its real estate arm Prozone Enterprises Pvt Ltd. (ET)

RIL and NTPC told the Bombay High Court that they are willing to go for an out-of-court settlement to resolve their dispute over supply of KG basin gas. (BS)

L&T has signed an agreement with Gujarat government for three highway projects and would pay Rs. 6,000 cr as premium to the government over the next 20 years. (BS)

Economic and Political Headline

The Reserve Bank slashed CRR by 50 bps to ease the tight liquidity position will be effective from the fortnight starting October 11, a move that may induce banks to lower commercial lending rates. (ET)

SEBI lifted curbs on FIIs imposed a year ago to stem huge sales by FIIs. (BS)

The US officials are examining ways to ease deepening strains in the commercial paper market, which have been hit by unwillingness among money market investors to hold risky assets. (WSJ)


NIFTY FUTURES (F & O)

Selling may continue up to 3594 level for time being.

Hurdles at 3636 & 3652 levels. Above these levels, expect short covering up to 3710-3712 zone.Sell if touches 3768-3770 zone. Stop Loss is too far on upper side and can be placed at around 3942-3944 zone.

On Negative Side, if breaks & sustains at below 3534-3536 zone then downtrend may continue and have caution.

Short-Term Investors:

Short-Term Upward Target at 3999-4001 zone.

Short-Term Support at at 3476-3478 zone.

FII DATA

FII

06/10: -1169.33 Cr. (Prov)

DII

06/10: 661.00 Cr. (Prov)

STERLITE INDS (I) (NSE Cash): Likely to Fall. Technically it should go down.

If breaks & sustains at below 275 level then downtrend may continue and have caution.

Hurdle at 344 level. Supply expected at around this level. This supply should get absorbed too.

JSW STEEL FUTURES (NSE): Likely to Fall.

Technically it should go down.

If breaks & sustains at below 297 level then downtrend may start and have caution.

Hurdle at 385 level. Supply expected at around this level. This supply should get absorbed too.

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The Dow Jones Industrial Average closed at 9,955.50. Down by 369.88 points.

The Broader S&P 500 closed at 1,056.89. Down by 42.34 points.

The Nasdaq Composite Index closed at 1,862.96. Down by 84.43 points.

The partially convertible rupee <INR=IN> ended at 47.80/81 per dollar on yesterday, weaker than its 47.0750/0850 at close on Friday.

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+ve sectors & scripts : Zandhupharm, Star


+ve to Market
1. SGX nifty 2. P-note issues 3. RBI cuts CRR by 50 bps


-ve to Market
1. US market 2.Asian Market 3. Sentiment 4.FII continous selling 5. second package not +vely discounted 6. Investors will offload below 3800 7. built-up in fresh short position 8. Expected financial crisis in UK 9. Rumours in the market 10. Tchnically weakness 11. Reimbursement pressure in MF.



--
Arvind Parekh
+ 91 98432 32381