Wednesday, November 19, 2008

Market Outlook for today 19.11.08


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

TTML, Hindo Petro, GTL, Sterling Bio, MTNL, Glaxo, IOC, Colpal, Hind Zinc & Rolta.
And this is list of 10 Weak Futures:

Gitanjali, Indian Info, Ansal Infra, Sail, Rel. Capital, Unitech, suzlon, Matrix Labs, Purva & Amtek auto.
Nifty is in Down Trend.


FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) 19-Nov-2008
FII -264.98
DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
DII +195.71

Headlines for the day

Corporate News Headline
BHEL received a contract worth USD 265 mn for the supply of the plant package for a power project in the southern state of Andhra Pradesh. (ET)
DLF has deferred some projects and plans job cuts to cope with the economic slowdown. (Bloomberg)
Parsvnath Developers has entered into a joint venture consortium with the Spanish infrastructure company Constructora San Jose. (BS)

Economic and Political Headline
Finance Minister P Chidambaram has asked auto makers, realty firms, and airlines to reduce prices and promised to consider an excise duty cut for sectors that are facing the heat of the global financial meltdown. (BS)
The RBI governor said that he was monitoring the current financial situation in the country and appropriate steps would be taken at right time. (BS)
The UK consumer prices rose 4.5% from a year earlier, compared with 5.2% in the previous month, giving the Bank of England scope to cut interest rates further as the economy slides into a recession. (Bloomberg)

NSE Nifty Index 2683.15( -4.16 %) -116.40
123
Resistance2768.97 2854.78 2907.12
Support 2630.82 2578.48 2492.67





BSE Sensex 8937.20( -3.81 %) -353.81
123
Resistance 9113.60 9289.99 9410.94
Support 8816.26 8695.31 8518.92


Strong & Weak futures
This is list of 10 strong futures:
TTML, Hind Petro, GTL, Rolta, Union Bank, Glaxo, Hind Zinc, MTNL, Divis Lab & Sterlin Bio.
And this is list of 10 Weak Futures:

Ansal Infra, SAIL, Niit Ltd., Suzlon, Gitanjali, Uni Tech, Purva, Uni Phos, Matrix Lab & Amtek Auto.
Nifty is in Down Trend.

NIFTY FUTURES (F & O)

Above 2696 level, expect short covering up to 2742-2744 zone and thereafter expect a jump up to 2787-2789 zone.

Support at 2646 & 2670 levels.

Below 2598-2600 zone, it can tumble up to 2552-2554 zone by non-stop.

On Positive Side, selling can be done if touches 2894-2896 zone. Stop Loss at 2940-2942 zone.

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.

FII DATA
FII
18-Nov-2008
-441.59 Crs
DII
18-Nov-2008
458.6 Crs

Trading Calls 19th Nov 08

-ve sectors & scripts :

Bank, Energy&Power, BOI, BEL, Bhusanstl, Bomdyeing, Canbk,

Short GTL-191 for 185-182 with sl 195 [Trading]

Short BOB-263 for 249 with sl 268

Short Bhartiartl-622 for 598-590 with sl 635

Short Tatapower-683 for 656 with sl 690

Buy Indiacem-86 for 89-91 with sl 83

Buy Mphasis-169 for 175 with sl 166

Buy Rolta-187 above 190 for 197 with sl 187

+ve to Market

1. US Market 2.Expected short covering on lower side 3. Mobius Starts buying 4.

-ve to Market

1. Profit booking 2.Continous selling by FII 3. Rs.Vs $ 4. Expected slow down in GDP 5. The impact of global recession in economic growth 6. SGX nifty 7. Weak sentiment 8. Asian Markets 9. There is no investment buying by small investors and institution. 10. India Inc. against the FM statement 11. Citi Group Job cut 12.Shutdown or slowdown in production from Industries & four wheelers 13. Heavy slashes in commodity prices (Metal prices)

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The Dow Jones Industrial Average closed at 8,424.75. Up by 151.17 points.

The Broader S&P 500 closed at 859.12. Up by 8.37 points.

The Nasdaq Composite Index closed at 1,483.27. Up by 1.22 points.

The partially convertible rupee <INR=IN> ended at 49.66/67 per dollar on yesterday, weaker than Monday's close of 49.34/36.


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Sell SENSEX Stocks

--
Arvind Parekh
+ 91 98432 32381