MARKET TODAY 21st Oct 2008

FII DATA

FII

21/10: -258.42 Cr. (Prov)

DII

21/10: 883.76 Cr. (Prov)

Strong & Weak futures
This is list of 10 Strong Futures:
Indian bk, Iob, Mphasis, Dr.reddy, Hind uni lvr, Tvs motor, Gtl, Bob, Satyam & Syndicate bk..
And this is the list of 10 Weak Futures:
Nagarjuna constr, Patel eng, Welspun, Aptech, S kumar, Jsw steel, Sterlite technol, Baja hind, IVR prime & NDTV.
Nifty is in Down Trend.

DELIVERY /CASH CALL

Cash Market: IDEA (NSE Cash CMP 55.10) may bounce from current levels. Stop Loss at 54.10 level. SMS sent at 01.17 PM.

INTRADAY CALLS GIVEN ON 21ST OCT

Cash Market Intra-Day: Buy BALAJITELE (NSE Cash CMP 97.60) for Intra-Day gains. Stop Loss at 95.60 level. SMS sent at 11.36 AM.

Cash Market Intra-Day: Buy EDUCOMP (NSE Cash CMP 1934.00) for Intra-Day gains. Stop Loss at 1930.00 level. SMS sent at 11.41 AM.

Futures: Sell Larsen & Toubro Futures (NSE CMP 860.10) for Intra-Day gains. Stop Loss at 864.10 level. SMS sent at 03.18 PM.

NIFTY FUT: Book Profits partially (or) fully. Technical Target is 3259.85-3261.85 zone. SMS sent at 10.58 AM.

NIFTY FUT: Buy with a Stop Loss of 3159.45 level for Intra-Day gains. SMS sent at 10.49 AM.

NIFTY FUT: Cover your short positions partially (or) fully. Technical Target is 3081.10-3083.10 zone. SMS sent at 10.17 AM.

SENSEX (Pre-Market): Higher opening expected. Expected to open high at around 190-210 points higher.

MARKET TODAY 21st Oct 2008
Headlines for the day
Corporate News Headline
Idea Cellular would spin off its licences in two operating service areas to comply with the telecoms merger and acquisition guidelines. (ET)
Power Finance Corp is expected to launch a bond issue in the next few days to raise around Rs. 2 -3 bn. (BS)
Larsen & Toubro decided to retain its Mysore-based medical equipment and systems business unit. (ET)
Economic and Political Headline
The Reserve Bank of India lowered the repo rate, or the rate at which it lends to banks, by 100 basis points to 8% with an immediate effect. (BS)
The SEBI said it ``disapproves´´ of overseas investors short-selling equities using offshore derivatives to prevent a further slide in the benchmark index. (Bloomberg)
The US Federal Reserve Chairman Ben Bernanke threw his support behind a second round of fiscal stimulus by the government to limit the risk of a "protracted" slowdown in the economy. (WSJ)

Support/Resistance Levels Spot

Nifty

Resistance 3221.15 3319.50 3400.60 Support 3041.70 2960.60 2862.25

Sensex

Resistance			10499.67	10776.24	11014.44
Support			9984.90	9746.70	9470.13

DATA
FII
20/10: -816.79 Cr. (Prov)
DII
20/10: 216.43 Cr. (Prov)

Strong & Weak futures

This is list of 10 Strong Futures:

Indian Bk, Ubi, Hpcl, Boi, Tvs Motor Com., Bob, Ioc, Gtl, Pnb & Bpcl.

And this is the list of 10 Weak Futures:

Bomdyein, Wel Guj, Peninland, Aptech, IndiaInfo, Suzlon, Nagarconst, IvrPrime,Bajajhind & Ndtv.
Nifty is in Down Trend.

Why this govt is not taking decisions at right time? This repo rate cut should have been announced on thursday, then it would have been fantastic move.

Tata Consultancy Services Ltd to announce results this week. This stock may rise.

RBI CUTS REPO RATE TO 8.0 PERCENT FROM 9.0 PERCENT WITH IMMEDIATE EFFECT. Positive move, but delayed decision and may have negative impact.

SENSEX (Short-Term Investors):

Below 10956 level, technical target at 8153 level. Stop Loss for short positions at 11882 level. Not for Day-Traders.

NIFTY FUT (Short-Term Investors):

Below 3427 level, technical target at 2461 level. Stop Loss for short positions at 3741 level. Not for Day-Traders.

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INTRADAY OUTLOOK FOR TODAY

NIFTY FUTURES (F & O)

Above 3181 level, rally may continue up to 3208-3210 zone and thereafter expect a jump up to 3260-3262 zone by non-stop.

Support at 3109 & 3133 levels.

Below these levels, expect profit booking up to 3029-3031 zone and thereafter slide may continue up to 2977-2979 zone.

Below 2951-2953 zone, expect panic up to 2898-2900 zone.

On Positive Side, short rallies up to 3286-3288 zone can be used to sell. Stop Loss at 3338-3340 zone.

Short-Term Investors:

Short-Term trend is bearish and worst may be over at around 2461 level on down side.

On Positive Side, short rallies up to 3427 level can be used to exit. Maintain a Stop Loss at 3741 level for your short positions too.

BSE SENSEX

Technically uptrend should continue.

Short-Term Investors:

Trend is Bearish & Technical target at around 8153 level on down side. Relief rally up to 10956 level can be used to exit. SL at 11882 level.

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TCS (NSE Cash): Likely to Zoom.

Technically it should go up.

If crosses & sustains at above 523 level then uptrend may continue.

Support at 444 level.

Should not be allowed to break at any cost.

WIPRO FUTURES (NSE): Likely to Zoom. Technically it should go up.

If crosses & sustains at above 295 level then uptrend may continue.

Support at 253 level

. Should not be allowed to break at any cost.

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The Dow Jones Industrial Average closed at 9,265.43. Up by 411.46 points.

The Broader S&P 500 closed at 985.40. Up by 44.85 points.

The Nasdaq Composite Index closed at 1,770.03. Up by 58.74 points.

The partially convertible rupee <INR=IN> ended at 48.97/98 per dollar on yesterday, weaker than 48.88/89 at close on Friday.

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Book Profits in REALTY INDEX Stocks

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1. US Market 2. US market 3. US Market 4. Asian Market 5. Sentiment 6. SGX nifty 7. Technical pullback 8. Govt. measures against Liquidity problem 9. 10. Small & Some investment buying. 11. REPO rate cuts by RBI 12. Expected bann on short selling

--
Arvind Parekh
+ 91 98432 32381