Wednesday, December 10, 2008

Outlook For 10.12.08

Strong & Weak futures
This is list of 10 strong futures:
NDTV, Nagar Const, Tisco, IDFC, DLF, Jindal Steel, Ambuja Cement, Escort, LITL & LIC.
And this is list of 10 Weak Futures:
Jindal Saw, Great Offshore, BRFL, Havells, Tulip, Ansal Infra, Rolta, Purva, Redington & Bhushan Steel.

Nifty is in Up Trend.

FII DATA
FII
10/12: 950.65 Cr. (Prov)
DII
10/12: -59.01 Cr. (Prov)


Headlines for the day

Corporate News Headline
L&T bagged a Rs. 8.1 bn drinking water supply project from the Hyderabad Metro Water Supply and Sewerage Board. (ET)
Tata Motors raised at least Rs. 10 bn from LIC to part-refinance borrowings that funded the acquisition of marquee brands Jaguar-Land Rover from Ford Motor Co. (Live mint)
Unitech is planning to invest about Rs. 25 bn to develop 35 hotels across the country over the next seven years. (BS)

Economic and Political Headline
The Insurance Regulatory and Development Authority said it is mulling developing insurance products in vernaculars. (BS)
Telecom Ministry has referred the matter of number of 3G spectrum slots in each circle to the Finance Ministry for a wider view. (BS)
The US Congress and the White House inched toward a financial rescue of the Big Three auto makers, negotiating legislation that would give the US government a substantial ownership stake in the industry and a central role in its restructuring. (WSJ)


NIFTY & SENSEX SPOT LEVELS TODAY

NSE Nifty Index 2784.00( 2.56 %) 69.60
123
Resistance2858.80 2933.60 3005.65
Support 2711.95 2639.90 2565.10







BSE Sensex 9162.62( 2.20 %) 197.42
123
Resistance 9364.59 9566.55 9701.00
Support 9028.18 8893.73 8691.77


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

NDTV, BEL, Nagar Const, LIC, DR.Reddy, Jindal Steel, Sun TV, TTML, NTPC & IDFC.
And this is list of 10 Weak Futures:
Jindal Saw, Havells, Voltas, M&M, Rolta, Tulip, Ansal Infra, BRFL, Purva & Bhushan Steel.
Nifty is in Down Trend.


NIFTY FUTURES (F & O)

Below 2757 & 2781 levels, expect profit booking up to 2741-2743 zone and thereafter slide may continue up to 2713-2715 zone.

Hurdle at 2791-2793 zone. Above this zone, buying may continue up to 2805 level and thereafter it will try to touch 2833-2835 zone.

Cross above 2847-2849 zone, then it can touch Multiple resistance zones of 2875-2877 zone & at 2889-2891 zone

. Supply expected at around 2917-2919 zone and have caution.

On Negative Side, Multiple support zones at 2671-2673 zone & at 2699-2701 zones. Below these zones, unwinding may continue up to 2628-2630 zone and rebound expected at around 2586-2588 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 recovery should happen. If bulls reluctant then bears will try to hammer and have caution.

Short-Term Investors:


Trend is Bullish & Technical target at around 10023 level on upper side. Corrections up to 8856 level can be used to buy. SL at 8467 level.

FII DATA
FII
08/12: 350.34 Cr. (Prov)
DII
08/12: -617.05 Cr. (Prov)


GLOBAL CUES & RUPEE

The Dow Jones Industrial Average closed at 8,691.33. Down by 242.85 points.

The Broader S&P 500 closed at 888.67. Down by 21.03 points.

The Nasdaq Composite Index closed at 1,547.34. Down by 24.40 points.

Indian financial markets were closed on Tuesday for a local holiday.

SENSEX Stocks May Zoom


Trading Calls 10th Dec 08

+ve sectors & scripts :

CNX100, Bajajauto, Cipla, RCOM

BUY Bomdyeing-160 for 172 with sl 156

BUY Cairn-142 for 150 with sl 139

BUY L&T-739 for 755-761 with sl 729

SHORT Lupin-556 for 540-531 with sl 561

+ve to Market

1. Asian Market 2. Sgx Nifty 3. Technical views

-ve to Market

1. US Market 2. Expected slow down in Q3 results 3. DII Selling 4. Redemption pressure in MF


--
Arvind Parekh
+ 91 98432 32381