Market Outlook for 04.12.08

FII DATA
FII
04/12: 307.14 Cr. (Prov)
DII
04/12: 79.24 Cr. (Prov)

Strong & Weak futures
This is list of 10 strong futures:
Sun TV, Andhra Bank, LIC, Nagarjuna Constr, CESC, IVRCL Infrast, Dr. Reddy's, NDTV, IDFC & Bharat Petro.
And this is list of 10 Weak Futures:
BRFL, BEML, M&M, Voltas, Suzlon, Unitech, Havells, Ansal Infra, Bhushan Steel & Purva.
Nifty is in Down Trend.


Headlines for the day
Corporate News Headline
Tata Steel reported Q2'09 consolidated result, total income rose by 36.17% yoy to Rs. 442.83 bn and net profit soared 215.77% to Rs. 47.03 bn. (Bloomberg)
Ranbaxy Laboratories has signed an exclusive licensing agreement with US-based BioPro Pharmaceutical to sell Gliadel tablets in India. (ET)
Tata Motors has decided to shut down its commercial vehicle plant in Pune for three days -- the second time within 15 days -- to prevent inventory build up on account of falling sales. (BS)
Economic and Political Headline
The RBI has rejected a request to directly lend US dollars from the country's foreign exchange reserves to financial institutions, as it is unwilling to further deplete reserves already down 20% from end-March levels. (ET)
The series of big-ticket measures proposed by a committee of secretaries to boost demand and minimise job cuts will include a Rs. 20 bn export package, a further relaxation in external commercial borrowing norms, and Rs. 150 bn budgetary support for infrastructure. (BS)
The Prime Minister Gordon Brown said that the UK government will guarantee interest payments worth up to USD 1.5 bn owed by homeowners struggling to keep up with mortgages. (Bloomberg)

NIFTY & SENSEX SPOT LEVELS TODAY

	2656.45	( -0.05 %)	-1.35
		1	2	3
Resistance		2696.08	2735.72	2777.78
Support		2614.38	2572.32	2532.68

	8747.43		( 0.09 %)	8.19
			1	2	3
Resistance			8867.69	8987.95	9121.09
Support			8614.29	8481.15	8360.89

Strong & Weak futures
This is list of 10 strong futures:
Sun TV, Andhra Bank, Dr.Reddy, IVRCL Infra, CESC, BPCL, Glaxo, Hind Petro, TTML & LIC Hous. Fin.
And this is list of 10 Weak Futures:
M&M, Tulip, Voltas, Havells, Suzlon, BRFL, Bhushan Steel, Ansal Infra, Unitech & Purva.
Nifty is in Down Trend.

NIFTY FUTURES (F & O)

Above 2670 level, buying may continue up to 2699-2701 zone and thereafter expect a jump up to 2728-2730 zone.

Support at 2630 & 2644 levels.

Below these levels, expect profit booking up to 2619-2621 zone and thereafter slide may continue up to 2599-2601 zone.

Buy if touches 2590-2592 zone. Stop Loss at 2570-2572 zone.

On Positive Side, above 2737-2739 zone can take up to 2766-2768 zone and if crosses and sustains at above this zone then uptrend may continue.

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 buying should continue. If bulls reluctant then bulls will try to hammer 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.

GLOBAL CUES & FRIDAY >>

The Dow Jones Industrial Average closed at 8,591.69. Up by 172.60 points.

The Broader S&P 500 closed at 870.74. Up by 21.93 points.

The Nasdaq Composite Index closed at 1,492.38. Up by 42.58 points.

The partially convertible rupee <INR=IN> closed at 49.99/50.01 per dollar on yesterday, stronger than its previous close of 50.15/16 on Tuesday.

PSU INDEX Stocks May Zoom

FII DATA
FII
03/12: -452.11 Cr. (Prov)
DII
03/12: 366.24 Cr. (Prov)

Trading Calls 4th Dec 08

-ve sectors & scripts : IT, kssruti

+ve sectors & scripts : Bank, Powerstocks, Tatasteel, VijayaBank, Powergrid, PFC

BUY CanBank-172 for 180 with sl 169

BUY SBI-1097 for 1150 with sl 1078

BUY SunTV-172 above 175 for 188-191 with sl 170

BUY BEL-630 above 635 for 655-676 with sl 625

--
Arvind Parekh
+ 91 98432 32381