Wednesday, December 17, 2008

Market Outlook for 17.12.08

FII DATA
FII -188.65
DII -97.82

Strong & Weak futures
This is list of 10 strong futures:
Oswal Chem,HOUSING DEV & IN,Bajaj Hind.,Patel Engineerin,Grasim Inds.,STERLITE TECHNOL,Shr.Cements,Ndtv Ltd,GE Ship, Jindal Steel & Po.
And this is list of 10 Weak Futures:
Bajaj Au.Ltd,Satyam Compu,Bhushan Steel,Rolta,BOMBAY RAYON FAS,Jindal Saw,REDINGTON,Financial Techno,GREAT OFFSHORE and Rel.Capital
Nifty is in Up Trend.

Headlines for the day
Corporate News Headline
Satyam Computer is planning to invest Rs. 76.8 bn to purchase of 51% in Maytas Infra and buy out of Maytas Properties. (BS)
L&T has received three orders worth Rs. 13.72 bn from three different steel companies for engineering related works. (BS)
Suzlon Energy revised the payment schedule to acquire 22.4% stake in German REpower Systems AG. (BS)
Economic and Political Headline
The global economic slowdown has taken its toll on foreign investment flows into the country, with FDI declining by as much as 26% this October, over the same month a year ago. (BS)
The Home Minister P Chidambaram said that the policies of the Indian government and the Reserve Bank of India are biased towards growth. (ET)
The Federal Reserve cut the main US interest rate to as low as zero and said it will buy debt as the next step in combating the longest recession in a quarter-century and reviving credit. (Bloomberg)


NIFTY SPOT & SENSEX LEVELS TODAY

NSE Nifty Index 3041.75( 2.03 %) 60.55
123
Resistance3075.10 3108.45 3164.35
Support 2985.85 2929.95 2896.60








BSE Sensex 9976.98( 1.47 %) 144.59
123
Resistance 10060.69 10144.40 10279.59
Support 9841.79 9706.60 9622.89


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

Bajaj Hind, HDIL, STR Tech, Bindal Agro, Wej Guj, Patel Eng, AmbujaCem, IFCI, Amtek Auto & GE Ship.
And this is list of 10 Weak Futures:
Bhushan Stl, Redington, Rolta, Bharat Forg, HCL Tech, TCS, Satyam Comp, Jindal Saw, Infosys Tech & Abb.
Nifty is in Up Trend.


NIFTY FUTURES (F & O)
Rally may continue up to 3078-3080 zone for time being.
Support at 3032 & 3038 levels. Below these levels, expect profit booking up to 2991-2993 zone and thereafter slide may continue up to 2951-2953 zone.

Buy if touches 2912-2914 zone. Stop Loss at 2873-2875 zone.
On Positive Side, above 3117-3119 zone it can zoom up to 3157-3159 zone and if crosses & sustains at above this 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 Profit Booking should happen.

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.

FII DATA
FII

16/12: 6.42 Cr. (Prov)
DII
16/12: -39.40 Cr. (Prov)

GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 8,924.14. Up by 359.61 points.
The Broader S&P 500 closed at 913.18. Up by 44.61 points.
The Nasdaq Composite Index closed at 1,589.89. Up by 81.55 points.
The partially convertible rupee <INR=IN> closed at 47.92/93 per dollar on yesterday, stronger from Monday's close of 48.05/06.

OIL & GAS INDEX Stocks May Zoom

+ve to Market
1. US Market 2. Fed meeting result 3. FII continous Buying 4. Advance tax buy PSU Banks 5. Asian Market
-ve to Market
1. Expected slow down in Q3 results 2. Redemption pressure in MF 3. Gold Rally 4. Profit booking
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.


--
Arvind Parekh
+ 91 98432 32381

Market Outlook for 17.12.08

Headlines for the day
Corporate News Headline
Satyam Computer is planning to invest Rs. 76.8 bn to purchase of 51% in Maytas Infra and buy out of Maytas Properties. (BS)
L&T has received three orders worth Rs. 13.72 bn from three different steel companies for engineering related works. (BS)
Suzlon Energy revised the payment schedule to acquire 22.4% stake in German REpower Systems AG. (BS)
Economic and Political Headline
The global economic slowdown has taken its toll on foreign investment flows into the country, with FDI declining by as much as 26% this October, over the same month a year ago. (BS)
The Home Minister P Chidambaram said that the policies of the Indian government and the Reserve Bank of India are biased towards growth. (ET)
The Federal Reserve cut the main US interest rate to as low as zero and said it will buy debt as the next step in combating the longest recession in a quarter-century and reviving credit. (Bloomberg)


NIFTY SPOT & SENSEX LEVELS TODAY
NSE Nifty Index 3041.75( 2.03 %) 60.55
123
Resistance3075.10 3108.45 3164.35
Support 2985.85 2929.95 2896.60




BSE Sensex 9976.98( 1.47 %) 144.59
123
Resistance 10060.69 10144.40 10279.59
Support 9841.79 9706.60 9622.89

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

Bajaj Hind, HDIL, STR Tech, Bindal Agro, Wej Guj, Patel Eng, AmbujaCem, IFCI, Amtek Auto & GE Ship.
And this is list of 10 Weak Futures:
Bhushan Stl, Redington, Rolta, Bharat Forg, HCL Tech, TCS, Satyam Comp, Jindal Saw, Infosys Tech & Abb.
Nifty is in Up Trend.


NIFTY FUTURES (F & O)
Rally may continue up to 3078-3080 zone for time being.
Support at 3032 & 3038 levels. Below these levels, expect profit booking up to 2991-2993 zone and thereafter slide may continue up to 2951-2953 zone.

Buy if touches 2912-2914 zone. Stop Loss at 2873-2875 zone.
On Positive Side, above 3117-3119 zone it can zoom up to 3157-3159 zone and if crosses & sustains at above this 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 Profit Booking should happen.

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.

FII DATA
FII

16/12: 6.42 Cr. (Prov)
DII
16/12: -39.40 Cr. (Prov)
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 8,924.14. Up by 359.61 points.
The Broader S&P 500 closed at 913.18. Up by 44.61 points.
The Nasdaq Composite Index closed at 1,589.89. Up by 81.55 points.
The partially convertible rupee <INR=IN> closed at 47.92/93 per dollar on yesterday, stronger from Monday's close of 48.05/06.

OIL & GAS INDEX Stocks May Zoom
+ve to Market
1. US Market 2. Fed meeting result 3. FII continous Buying 4. Advance tax buy PSU Banks 5. Asian Market
-ve to Market
1. Expected slow down in Q3 results 2. Redemption pressure in MF 3. Gold Rally 4. Profit booking
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.

--
Arvind Parekh
+ 91 98432 32381