Market Outlook for 01.01.09 HAVE A GREAT NEW YEAR!

Headlines for the day 

    Corporate News Headline
    ONGC has taken control of Imperial Energy Plc for USD 1.9 bn after an overwhelming 96.8% of London-listed firm´s total shareholders accepted its takeover offer. (BS)
    PTC India is planning to set up a joint venture with Singapore-based firm Asian Infratech for identifying and acquiring companies overseas. (ET)
    Omaxe Ltd has bagged an order worth Rs. 2 bn to build two jails in Punjab. (ET)

    Economic and Political Headline
    India's fiscal deficit has crossed the government's initial estimate of 2.5% of GDP in the eight months up to November 2008. As a result, the market borrowing by the Centre also crossed the budget estimate of Rs. 1,130 bn by nearly Rs. 210 bn in the same period. (BS)
    Credit Suisse Group AG, Switzerland's second-largest bank, agreed to sell a stake in its Global Investors business to Aberdeen Asset Management Plc for USD 361 mn in stock after losses at the unit. (Bloomberg)
    China's central bank said the nation should prepare more tools to tackle the global financial crisis, a month after its biggest interest-rate cut in 11 years. (Bloomberg)

	2959.15	( -0.68 %)	-20.35
		1	2	3
Resistance		2995.42	3031.68	3060.72
Support		2930.12	2901.08	2864.82

	9647.31		( -0.71 %)	-68.85
			1	2	3
Resistance			9786.17	9925.02	10024.15
Support			9548.19	9449.06	9310.21

	2959.15	( -0.68 %)	-20.35
		1	2	3
Resistance		2995.42	3031.68	3060.72
Support		2930.12	2901.08	2864.82

	9647.31		( -0.71 %)	-68.85
			1	2	3
Resistance			9786.17	9925.02	10024.15
Support			9548.19	9449.06	9310.21

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

Bajaj Hind, NDTV, Matrix Lab, Auro Pharma, Renuka, Jet Airways, Aptech, Triveni, Balram Chini & GMR Infra. 

And this is list of 10 Weak Futures: 

Bhushan Steel, Rolta, Jindal Saw, Finan tech, Aban, TVS Motor, HCL Tech, Satyam, GT Offshore & Sterlin Bio. Nifty is in Up Trend.

NIFTY FUTURES (F & O) Above 2985 level, expect short covering up to 3013-3015 zone and thereafter it can touch 3040-3042 zone by non-stop. Below 2954-2956 zone, selling may continue up to 2947 level and thereafter slide may continue up to 2926-2928 zone. Buy if touches 2917-2919 zone. Stop Loss at 2889-2891 zone. On Positive Side, above 3049-3051 zone it can zoom up to 3077-3079 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 Recovery should happen. If does move up then tired bulls can start offload their positions. Short-Term Investors: Trend is Bearish & Technical target at around 8832 level on down side. Rallies up to 9838 level can be used to exit. SL at 10173 level. GLOBAL CUES & RUPEE The Dow Jones Industrial Average closed at 8,776.39. Up by 108.00 points. The Broader S&P 500 closed at 903.25. Up by 12.61 points. The Nasdaq Composite Index closed at 1,577.03. Up by 26.33 points. The partially convertible rupee closed at 48.70/72 per dollar on yesterday, weaker than its Tuesday's close of 48.47/49.

FII DATA

FII 31/12: 81.85 Cr. (Prov) DII 31/12: 373.96 Cr. (Prov)

AUTO INDEX Stocks May Zoom.

Trading Calls 01st Jan 09

+ve sectors & scripts : CNXMidcap, CNXmidcap50, AsianHotel, BataIndia, chennpetro, KSK, wwil

USE STRICT Stopp Loss for todays trading

 

BUY BEL-749 for 785 with sl 736 [Trading]

BUY IndianBnk-136 for 142 with sl 133

BUY Triveni-50 for 53.50 with sl 48.75

 

Short BHEL-1362 for Below 1342 for 1300 with sl 1355

BUY Balramchin-49 for 55 with sl 47 [positional]

--
Arvind Parekh
+ 91 98432 32381