OUTLOOK FOR TODAY 22nd Oct 2008

Strong & Weak futures
This is list of 10 Strong Futures:

Iob, Tvsmotor, HindUniLvr, Indian bk, Gtl, Colgate palmoliv, Syndicate bk, Hotel leela, Sterlling Biotech & Indn. oil.

And this is the list of 10 Weak Futures:

Welspun Guj, Financial Technol, Sterlite Technol, Aptech, Jsw steel, S kumar, Ivrcl infrast, Bajaj hind, Ndtv & Ivr prime urban.
Nifty is in Down Trend.

FII DATA

FII

22/10: -543.95 Cr. (Prov)

DII

22/10: 404.05 Cr. (Prov)

FUTURES: Sell BHARTIARTEL FUTURES (NSE CMP 666.40). Stop Loss at 670.40. SMS sent at 03.03 PM.

Cash Market Intra-Day: Buy MCDOWELL-N (NSE Cash CMP 769.80) for Intra-Day gains. Stop Loss at 765.80 level. SMS sent at 01.54 PM.

Cash Market Intra-Day: Sell ASHAPURMIN (NSE Cash CMP 39.10) for Intra-Day gains. Stop Loss at 40.10 level. SMS sent at 01.31 PM.

NIFTY FUT: Book Profits partially (or) fully. Technical Target is 3170.15 level. SMS sent at 12.41 PM.

NIFTY FUT: Buy with a Stop Loss of 3074.95 level for Intra-Day gains. SMS sent at 12.32 PM.

Headlines for the day
Corporate News Headline

Jaiprakash Associates reported Q2’09 results, total income rose to Rs. 12.86 bn on yoy, and net profit increased 96.03% yoy to Rs. 2.03 bn. (BS)

BHEL bagged Rs. 6.41 bn contract for setting up a 412 MW hydro electric plant from Satluj Jal Vidyut Nigam Ltd. (ET)

Hindustan Construction bagged an order worth Rs. 3.6 bn from Lanco Infratech for construction-related works at Teesta Hydro Electro Power Project in Sikkim. (BS)

Economic and Political Headline

The concerned over the default in payment of fuel bills by the airlines, Petroleum Minister Murli Deora has called a meeting with Civil Aviation Minister Praful Patel, airlines, and oil companies to sort out the issue. (BS)

The Finance Minister said that the government will exceed the borrowing target, the first time it´s doing so in four years, to pay for higher spending and shore up economic growth. (Bloomberg)

The Treasury Secretary Henry Paulson advocated mergers and acquisitions to strengthen the banking industry, while reiterating that the aim of a USD 250 bn bank recapitalization plan is to stimulate lending. (Bloomberg)

NIFTY FUT (Short-Term Investors):

Below 3415 level, technical target at 2473 level. Stop Loss for short positions at 3729 level. Not for Day-Traders.

SENSEX:

Below 10944 level, technical target at 8165 level. Stop Loss for short positions at 11870 level. Not for Day-Traders.

NIFTY OCT FUTURES LEVELS TODAY 3277 3252 3219 3170 3111 3057 3074 3004

ABAN TILL TRADE ABVE 1100 WE SEE BUYING TILL 1160-1205-1250.

NIFTY FUT: Cover your short positions partially (or) fully. Technical Target is 3074.95-3076.95 zone.

NIFTY FUT: Sell with a Stop Loss of 3170.15 level for Intra-Day gains.

Cash Market Intra-Day: Buy TECHM (NSE Cash CMP 441.55) for Intra-Day gains

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JAIPRAKASH ASSOC (NSE Cash): Avoid Short Selling in this scrip. Rebound expected.

Support at 76 level. Rebound expected at around this level. If not, then problem for bulls too.

Hurdle at 100 level. Supply expected at around this level. This supply should get absorbed too.

TCS FUTURES (NSE): Avoid Short Selling in this scrip. Rebound expected.

Support at 503 level. Rebound expected at around this level. If not, then problem for bulls too.

Hurdle at 585 level. Supply expected at around this level. This supply should get absorbed too.

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The Dow Jones Industrial Average closed at 9,033.66. Down by 231.77 points.

The Broader S&P 500 closed at 955.05. Down by 30.35 points.

The Nasdaq Composite Index closed at 1,696.68. Down by 73.35 points.

The partially convertible rupee <INR=IN> closed at 49.04/06 per dollar on yesterday, weaker compared to its previous close of 48.97/98 on Monday.

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+ve sectors & scripts : Midcap50, IT, Bata, SyndicateBank, Titan

Short BPCL-352 for 340 with sl 356

Short HPCL-223 for 218-215 with sl 227

Buy Infy-1347 for 1370-1400 with sl 1330

Buy AxisBank-656 for 675-704 with sl 649

No +ve news & Global cues will lead Indian Market today

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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.

--
Arvind Parekh
+ 91 98432 32381

--
Arvind Parekh
+ 91 98432 32381