Wednesday, October 15, 2008


NIFTY OCT FUTURE LEVELS TODAY
3280 3333 3362 3412 3416 3443 3467 3525 3538 3547 3575 3657
INTRADAY CALLS
NIFTY FUT:Unwinding should continue up to 3278.60-3280.60 zone.Rallies up to 3412.30 can be used to exit. SL at 3547.40-3549.40

Cash Market Intra-Day: Sell JINDALSTEL (NSE Cash CMP 770.00) for Intra-Day gains. Stop Loss at 774.00 level.

Cash Market Intra-Day: Buy DCHL (NSE Cash CMP 59.50) for Intra-Day gains. Stop Loss at 58.50 level.

NIFTY FUT: SL triggered. Unwinding should continue up to 3360.85-3362.85 zone. Rallies up to 3467.15 can be used to exit. SL at 3547.40-3549.40 zone.

NIFTY FUT: Buy with a Stop Loss of 3443.15 level. Target at 3547.40-3549.40 zone.

SENSEX (Pre-Market): Weak opening expected. Expected to open weak at around 260-280 points lower.

GM!!!! "Knowledge Doesn’t Pay – It is What You Do With it."

OUTLOOK FOR TODAY 15TH OCT 2008

NIFTY FUTURES (F & O)

Below 3525-3527 zone, selling may continue up to 3500 level.

Hurdles at 3538 & 3575 levels. Above these levels, expect short covering up to 3657-3659 zone and thereafter expect a jump up to 3739-3741 level by non-stop.

Supply expected at around 3767-3769 zone and have caution.

On Negative Side, rebound expected at around 3443-3445 zone. Stop Loss at 3416-3418 zone.

Short-Term Investors:

Short-Term Upward Target at 3849-3851 zone.

Short-Term Support at at 3333-3335 zone.



Strong & Weak futures
This is list of 10 Strong Futures:
Mosear baer, Boi, Ubi, Obc, Bob, Maruti, Glt ltd, Sbi, pnb & J&k bk..
And this is the list of 10 Weak Futures:
Aban, Jsw steel, Bombay dyein, Peninsula, Niit, Ivr prime urban, Welspun guj st., Bajaj hind, India infoline & Nagarjuna constr.

Nifty is in Down Trend.


Headlines for the day

Corporate News Headline

Tata Motors bought 50.3% of Norwegian electric vehicle firm Miljoe Grenland/Innovasjon for Rs. 94 mn through its UK subsidiary, Tata Motors European Technical Centre Plc. (ET)

Allahabad Bank entered into a Memorandum of Understanding with Kotak Mahindra Old Mutual Life Insurance. (BS)

Elecon Engineering bagged three orders by reputed clients namely Techpro Systems Chennai and Sail-Durgapur Steel Plant, worth Rs. 517.4 mn. (BS)

Economic and Political Headline
The Reserve Bank of India would allow Indian commercial banks to accept as collateral certificate of deposits held by mutual funds for the next 15 days. (ET)
India exceeded the export target for 2007-08 by USD 3 bn achieving an overall growth rate of about 29%, appreciation of rupee notwithstanding. (ET)
The US government is expected to take stakes in nine of the nation´s top financial institutions as part of a new plan to restore confidence to the battered the US banking system, a far-reaching effort that puts the government´s guarantee behind the basic plumbing of financial markets. (WSJ)
-------------------

GUJ NRE COKE (NSE Cash): Avoid Short Selling

in this scrip. Rebound expected.

Support at 26 level

. Expected to rebound from this level. If not, then problem for bulls too.

Hurdle at 41 level.

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

ISPAT INDUSTRIES FUTURES (NSE): Avoid Short

Selling in this scrip. Rebound expected.

Support at 12 level

. Expected to rebound from this level. If not, then problem for bulls too.

Hurdle at 18 level.

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

-----------------
---------------
FII DATA
FII
14/10: 898.25 Cr. (Prov)
DII
14/10: -252.37 Cr. (Prov)

--------------------------------

The Dow Jones Industrial Average closed at 9,310.99. Down by 76.62 points.

The Broader S&P 500 closed at 998.01. Down by 5.34 points.

The Nasdaq Composite Index closed at 1,779.01. Down by 65.24 points.

The partially convertible rupee <INR=IN> ended at 48.04/06 per dollar on yesterday, stronger than 48.25/27 at the close on Monday.


-------------------

--
Arvind Parekh
+ 91 98432 32381