Headlines for the day
Corporate News Headline
Reliance Infrastructure bagged Rs. 26.76 bn expressway project connecting Faridabad, Noida, Ghaziabad, and Sonepat. (BS)
BHEL bagged Rs. 21 bn order for 1,000 MW power plants in Maharashtra from NTPC. (BS)
Power Grid Corporation of India is set to get a part of the additional USD 3 bn loan from the World Bank to expand the power transmission network in the country. (ET)
Economic and Political Headline
The Commerce Minister Kamal Nath said the government was likely to come out with another stimulus package for exports, housing, and steel. (ET)
The orders for the US durable goods fell 1% in November, after 8.4% drop in October, on easing concern that business investment would plummet in coming months in response to the deepening credit freeze and slowing sales. (Bloomberg)
The US consumer spending, after adjusting for inflation, rose 0.6% in November as cheaper gasoline prices gave Americans more cash to spend for the holidays. (Bloomberg)
NIFTY & SENSEX SPOT LEVELS TODAY
 | 2916.85 | ( -1.74 %) | -51.80 |  |
| 1 | 2 | 3 | ||
| Resistance | 2956.42 | 2995.98 | 3023.97 | |
| Support | 2888.87 | 2860.88 | 2821.32 | |
 | 9568.72 | ( -1.22 %) | -118.03 | | |
| 1 | 2 | 3 | |||
| Resistance | 9647.25 | 9725.78 | 9798.14 | ||
| Support | 9496.36 | 9424.00 | 9345.47 | ||
Strong & Weak futures
This is list of 10 strong futures:
Aptech Training, Bajaj Hind, Matrix labs, Auro pharma, hind petro, Suzlon, DLF, NDTV & Uniphos.
And this is list of 10 Weak Futures:
Satyam, Bhushan Steel, Redington, Roltas, Jindal Saw, GT Offshore, TVS Motors, Nucleus, Strides Arcolab & CMC.
Nifty is in Up Trend.
NIFTY FUTURES (F & O)
Above 2952 level, expect short covering up to 2974-2976 zone and thereafter it can jump up to 2997-2999 zone by non-stop.
Below 2937-2939 zone, selling may continue up to 2930 level
and thereafter slide may continue up to 2915-2917 zone.Buy if touches 2893-2895 zone. Stop Loss at 2870-2872 zone.
On Positive Side, above 3034-3036 zone it can zoom up to 3057-3059 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 3201 level on upper side.On Negative Side, corrections up to 2825 level can be used to buy. Maintain a Stop Loss at 2699 level for your long positions too.
Short-Term Investors:
Short-Term trend is Bullish and target at around 3201 level on upper side.
On Negative Side, corrections up to 2825 level can be used to buy. Maintain a Stop Loss at 2699 level for your long positions too.
BSE SENSEX
Technically Profit Booking should continue.
FII DATA 24-12-08
FII -144.26DII
+613.98
BUY EDELWEISS FUT ABVE ONLY 281 SL 268 TGT 296/305/310..
BUY RIL FUT ABVE 1265 SL 1245 TGT 1280/1290/1305.
--
Arvind Parekh
