Corporate News Headline
Nagarjuna Construction Company has secured six new orders aggregating Rs. 4.84 bn (BS)
Essar Steel entered into the partnership with Japan based Kobe Steel for technical assistance to strengthen its high-end product mix for the automobile sector. (BS)
Astra Microwave has bagged an order worth Rs. 570 mn from Israel-based ELTA Systems Limited. (BS)
Economic and Political Headline
Indian exports fell an annual 12.1% in October to USD 12.82 bn, the first year-on-year fall in nearly three years, as slowing output at home and weakening economies in key overseas markets slashed demand. (BS)
The Home minister P Chidambaram said that India will see a slowdown in growth and FY09 GDP growth rate will be between 7%-8%. (BS)
The US factory index dropped to 36.2 in November, at the fastest pace in 26 years, putting American factories at the forefront of a global industrial slump emanating from the lack of credit. (Bloomberg)
NIFTY FUTURES (F & O)
Below 2655 level, selling may continue up to 2588 level by non-stop.
Hurdles at 2688 & 2720 levels. Above these levels, expect short covering up to 2787-2789 zone and thereafter expect a jump up to 2854-2856 zone.
Sell if touches 2876-2878 zone. Stop Loss is too far on upper side and can be placed at around 2943-2945 zone.
On Negative Side, if breaks & sustains at below 2519-2521 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 Recovery 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.
Strong & Weak futures
This is list of 10 strong futures:
Andhra Bank, BPCL, TTML, TCS, IOC, Dr.Reddy'S L,Glaxo, Dabur, NETWORK 18 FINCA, Ntpc..
And this is list of 10 Weak Futures:
Jet Airways, Bhushan Steel, HDIL, Bombay Rayon Fas, Havells, Suzlon, Ansal prop & Inf, Unitech & Puravankara proj.
Nifty is in Down Trend.
NIFY & SENSEX SPOT LEVELS FOR TODAY
 | 2682.90 | ( -2.62 %) | -72.20 |  |
| 1 | 2 | 3 | ||
| Resistance | 2787.33 | 2891.77 | 2950.68 | |
| Support | 2623.98 | 2565.07 | 2460.63 | |
 | 8839.87 | ( -2.78 %) | -252.85 | | |
| 1 | 2 | 3 | |||
| Resistance | 9176.59 | 9513.30 | 9699.93 | ||
| Support | 8653.25 | 8466.62 | 8129.91 | ||
FII DATA
FII
01/12: 28.64 Cr. (Prov)
DII
01/12: 49.19 Cr. (Prov)
The Dow Jones Industrial Average closed at 8,149.09. Down by 679.95 points.
The Broader S&P 500 closed at 816.21. Down by 80.03 points.
The Nasdaq Composite Index closed at 1,398.07. Down by 137.50 points.
The partially convertible rupee <INR=IN> closed at 50.30/32 per dollar on yesterday, weaker than Friday's close of 50.09/12.
Sell SENSEX Stocks
--
Arvind Parekh
+ 91 98432 32381
