BHEL is in talks with electrical equipment maker Areva T&D India to form a joint venture company for manufacturing nuclear reactors. (ET)
Tata Teleservices has drawn up plans to introduce and manage next generation technologies including Global System for Mobile Communications by January 2009. (BS)
Apollo Tyres is planning to invest Rs. 30 bn in the next five years to set up green field plants in India and abroad as well as for expanding its existing facilities. (BS)
Describing the G-20 summit as "very successful", Prime Minister Manmohan Singh said that this had marked a shift in balance of economic power in favour of emerging economies. (BS)
Finance Minister P Chidambaram has said that the financial meltdown will not spare any sector of the economy, but on the brighter side recovery could be just six to nine months away. (BS)
The retail sales in the US dropped 2.8% in October by the most on record, pushing the economy toward the worst slump in decades. (Bloomberg)
This is list of 10 STRONG futures:
TTML, Union Bk, Hind Zinc, GTL, Bk of India, Dabur, CESC, Hind Petro, Bhushan Steel & Andhra Bk.
And this is list of 10 WEAK Futures:
IVR Prime, Tata Steel, NDTV, Unitech Ltd, Gitanjali, Suzlon, Amtek Auto, Tata Motors, Purva & Uniphos.
Nifty is in Down Trend.
NIFTY & SENSEX LEVELS FOR 17TH NOV
 | 2810.35 | ( -1.34 %) | -38.10 |  |
| 1 | 2 | 3 | ||
| Resistance | 2906.50 | 3002.65 | 3066.50 | |
| Support | 2746.50 | 2682.65 | 2586.50 | |
 | 9385.42 | ( -1.58 %) | -150.91 | | |
| 1 | 2 | 3 | |||
| Resistance | 9725.19 | 10064.96 | 10293.81 | ||
| Support | 9156.57 | 8927.72 | 8587.95 | ||
NIFTY FUTURES (F & O)
Below 2758-2760 zone, selling may continue up to 2697-2699 zone by non-stop.
Hurdles at 2820 & 2823 levels. If crosses & sustains then it can zoom up to 2882-2884 zone and thereafter expect a jump up to 2943-2945 zone.
Sell if touches 3005-3007 zone. Stop Loss at 3066-3068 zone.
On Negative Side, if breaks & sustains at below 2635-2637 zone then downtrend may continue and have caution.
Short-Term Investors:
Short-Term trend is bearish and target at around 2392 level on down side.
On Positive Side, rallies up to 2982 level can be used to exit. Maintain a Stop Loss at 3178 level for your short positions too.
BSE SENSEX
Technically Rebound should happen.
Short-Term Investors:
Trend is Bearish & Technical target at around 8183 level on down side. Rallies up to 9974 level can be used to exit. SL at 10571 level.
The Dow Jones Industrial Average closed at 8,497.31. Down by 337.94 points.
The Broader S&P 500 closed at 873.29. Down by 38.00 points.
The Nasdaq Composite Index closed at 1,516.85. Down by 79.85 points.
The partially convertible rupee <INR=IN> ended at 49.01/03 per dollar on Friday, stronger than 49.30/32 at close on Wednesday.
Book Profits in FMCG INDEX Stocks
--
Arvind Parekh
+ 91 98432 32381
