Market Outlook for 11.12.08

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 11-Dec-2008 + 444.18
DII 11-Dec-2008 -15.37

Headlines for the day
Corporate News Headline
Dr Reddy´s Laboratories has preliminarily won eight supply contracts in a tender by Germany´s largest health insurer, AOK. (ET)
ONGC is planning to complete on schedule the buyout of the UK's Imperial Energy Plc. (Bloomberg)
Arshiya International received formal approval for its Free Trade and Warehousing Zone in Raigad district of Maharashtra by the board of approvals for SEZ of the Central government. (BS)
Economic and Political Headline
The central bank chief Duvvuri Subbarao said that India´s growth projections for the current financial year ending in March 2009 may be revised downwards and 2009/10 may be a "more difficult year". (Reuters)
The sale of popular cars fell 19.38% to 83,059 vehicles from 1.03 lakh vehicles in the same month last year due to high interest rate and credit squeeze. (ET)
The US Treasury has pumped in a whopping USD 165 bn in fresh capital to 88 financial institutions across the country as part of the Federal government´s efforts to ease liquidity crunch. (BS)

NIFTY & SENSEX SPOT LEVELS TODAY

	2928.25	( 5.18 %)	144.25
		1	2	3
Resistance		2983.70	3039.15	3138.15
Support		2829.25	2730.25	2674.80

	9654.90		( 5.37 %)	492.28
			1	2	3
Resistance			9795.68	9936.46	10194.22
Support			9397.14	9139.38	8998.60

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)

NIFTY FUTURES (F & O)

Above 2958 level, buying may continue up to 3003-3005 zone.

Support at 2908 & 2927 levels.

Below these levels, expect Profit Booking up to 2860-2862 zone and thereafter slide may continue up to 2815-2817 zone.

Buy if touches 2709-2711 zone. Stop Loss is at 2664-2666 zone.

On Positive Side, if crosses & sustains at above 3049-3051 zone then uptrend may continue.

Short-Term Investors:

Short-Term trend is Bullish and target at around 3202 level on upper side.

On Negative Side, corrections up to 2821 level can be used to buy. Maintain a Stop Loss at 2694 level for your long positions too.

BSE SENSEX

Technically uptrend should continue.

Short-Term Investors:

Trend is Bullish & Technical target at around 10443 level on upper side. Corrections up to 9297 level can be used to buy. SL at 8914 level.

GLOBAL CUES & RUPEE

The Dow Jones Industrial Average closed at 8,761.42. Up by 70.09 points.

The Broader S&P 500 closed at 899.24. Up by 10.57 points.

The Nasdaq Composite Index closed at 1,565.48. Up by 18.14 points.

The partially convertible rupee <INR=IN> closed at 49.03/04 on yesterday, stronger than

its previous close of 49.58/59.

METAL INDEX Stocks May Zoom

+ve to Market
1. Asian Market 2. Sgx Nifty 3. Technical views 4. US Market 5. Bailout package from all the country 6. FII Buying
-ve to Market
1. Expected slow down in Q3 results 2. DII Selling 3. Redemption pressure in MF

Trading Calls 11th Dec 08
+ve sectors & scripts : Nifty junior, CNX500, Birlacorp, DishTV,Mcdowell, LT

BUY CESC-240 for 258 with sl 236 [Trading]
BUY IDFC-67 for 73 with sl 65
BUY Tatacomm-496 for 533 with sl 490

BUY HDFC-1618 for 1680 with sl 1600 [Breakout]
BUY RIL-1227 for 1268-1287 with sl 1210

BUY Ambujacem-64 for 83-90 with sl 58 [posiotional]
BUY Escorts-41 for 60 with sl 36.90
BUY GVKPIL-19.80 for 26 with sl 17

--
Arvind Parekh
+ 91 98432 32381