NIFTY FUT: Buy with a Stop Loss of 2921.75 level for Intra-Day gains. &
NIFTY FUT: Book Profits partially (or) fully. Technical Target is 2999.70-3001.70 zone.
SENSEX (Pre-Market): Weak opening expected. Expected to open weak at around 470-490 points lower.
Wipro reported Q2'09 results, revenue rose 36% yoy to Rs. 65.07 bn, and net profit increased 19% yoy to Rs. 9.78 bn. (BS)
NTPC is planning to raise about USD 1 bn from both domestic as well as international markets to part-fund its expansion plans. (ET)
Power Grid Corporation of India received USD 400 mn loan from the World Bank to increase reliable power exchange between regions and states. (ET)
The Prime Minister Manmohan Singh said that India will achieve a GDP growth rate of 7.5% to 8% this year despite the current global economic turmoil, which has only partially affected the country. (ET)
The finance minister, P Chidambaram said that it may miss the budget targets for fiscal and revenue deficits for 2008-09 as global financial crisis is exerting pressure. (BS)
The US Federal Reserve reached deeper into the troubled financial system, offering up to USD 540 bn of help to money market mutual funds in its latest response to the credit crunch. (WSJ)
Below 3036 level, selling may continue up to 2978-2980 zone by non-stop.
Hurdles at 3070 & 3093 levels. Above these levels, expect short covering up to 3149-3151 zone and thereafter expect a jump up to 3205-3207 zone.
Sell if touches 3335-3337 zone. Stop Loss at 3391-3393 zone.
On Negative Side, if breaks & sustains at below 2922-2924 zone then downtrend may continue and have caution.
Short-Term Investors:
Short-Term trend is bearish and worst may be over at around 2473 level on down side.
On Positive Side, short rallies up to 3415 level can be used to exit. Maintain a Stop Loss at 3729 level for your short positions too.
BSE SENSEX
Technically selling should continue. If bears are reluctant then bulls will
try to rig up and have caution.
Short-Term Investors:
Trend is Bearish & Technical target at around 8165 level on down side. Relief rally up to 10944 level can be used to exit. SL at 11870 level.
------------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.
--------------
ITC LTD (NSE Cash): Likely to Fall.
Profit Booking expected.Support at 165 level. If breaks & sustains at below
this level then downtrend may continue.Hurdle at 181 level. Supply expected at around this level. This supply should get absorbed too.
HINDUSTAN UNILEVER FUTURES (NSE): Likely to Fall. Profit Booking expected.
Support at 243 level. If breaks & sustains at below this level
then downtrend may continue.Hurdle at 259 level. Supply expected at around this level. This supply should get absorbed too.
NIFTY SPOT
Resistance 3183.33 3301.52 3367.28
Support 2999.38 2933.62 2815.43
SENSEX
Resistance 10393.76 10617.62 10750.39
Support 10037.13 9904.36 9680.50
+ve sectors & scripts
: VoltasThe Dow Jones Industrial Average closed at 8,519.21. Down by 514.45 points.
The Broader S&P 500 closed at 896.78. Down by 58.27 points.
The Nasdaq Composite Index closed at 1,615.75. Down by 80.93 points.
The partially convertible rupee <INR=IN> ended at 49.28/29 per dollar on yesterday, weaker than Tuesday's close of 49.04/06.
-------Sell SMALLCAP Stocks
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