Headlines for the day
Corporate News Headline
L&T bagged large-value orders aggregating around Rs. 14.5 bn in the third quarter of 2008-09 for the construction of IT and office space buildings. (BS)
Dabur India has decided to hold back the expansion plan of its newly launched retail arm with an aim of capitalising more from further downslide in retail rentals. (BS)
Tata Steel would re-prioritise its capital expenditure in view of the global economic meltdown and give preference to "high-return projects" while deferring the rest. (BS)
Economic and Political Headline
The SEBI said that retail and other non-institutional investors can now use the margins on derivatives for cash market deals or vice versa under cross-margin facility. (BS)
The government has already indicated that it would provide fiscal stimuli to exporters—those from textiles, gems and jewellery etc in particular, as they are hit hard by the dampening of buyer enthusiasm in the western markets. (ET)
The US Federal Reserve Chairman Ben Bernanke has said that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year. (BS)
Strong & Weak futures
This is list of 10 strong futures:
Dr.Reddy'S, Andhra Bank, Glaxo, Hind. Petro, Tata Teleserv, Sun TV Ltd., NTPC, MPHASIS & CECS.
And this is list of 10 Weak Futures:
Jet Airways, Tulip, United Phosphoro, BRFL, Havells, Bhushan Steel, Suzlon, Ansal Prop & Infra, Puravankara Proj & Unitech.
Nifty is in Down Trend.
NIFTY AND SENSEX SPOT LEVELS FOR TODAY
 | 2657.80 | ( -0.94 %) | -25.10 |  |
| 1 | 2 | 3 | ||
| Resistance | 2696.90 | 2736.00 | 2799.10 | |
| Support | 2594.70 | 2531.60 | 2492.50 | |
 | 8739.24 | ( -1.14 %) | -100.63 | | |
| 1 | 2 | 3 | |||
| Resistance | 8860.38 | 8981.51 | 9177.99 | ||
| Support | 8542.77 | 8346.29 | 8225.16 | ||
NIFTY FUTURES (F & O)
Above 2662-2664 zone, expect short covering up to 2674 level and thereafter expect a jump up to 2699-2701 zone. If crosses 2711 level then expect panic short covering up to 2736-2738 zone.
Below 2629 & 2642 levels, selling may continue up to 2615-2617 zone and thereafter it can slide up to multiple support zones of 2578-2580 zone & 2590-2592 zone.
Again Multiple Support Zones at 2541-2543 zone & at 2553-2555 zone. Break below these zones, panic may continue up to 2503-2505 zone.
On Positive Side, rallies up to 2749-2751 zone can be used to sell. Stop Loss at 2773-2775 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.
BSE SENSEX
Technically Profit Booking should happen. If bears reluctant then bulls will
try to rig up and have caution.
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.
FII DATA
FII
02/12: -323.01 Cr. (Prov)
DII
02/12: 105.31 Cr. (Prov)
--
Arvind Parekh
+ 91 98432 32381
