Market Outlook for 2nd Jan'09

NIFTY & SENSEX SPOT LEVELS TODAY

	3033.25	( -0.01 %)	-0.20
		1	2	3
Resistance		3060.70	3087.95	3136.65
Support		2984.75	2936.05	2908.80

	9909.42		( 0.06 %)	5.96
			1	2	3
Resistance			9979.56	10055.66	10189.62
Support			9769.50	9635.54	9559.44

Strong & Weak futures  

This is list of 10 strong futures:

3I infotech, Aban, ABB, ACC, Aditya Birla, Adlabs Films, AIA Eng., Allahabad bank, Alok Text & Alstom Projects. 

And this is list of 10 Weak Futures: 

Zeel, yes bank, Wock pharma, WWIL, Wipro, Wel Guj, Voltas, Vijaya Bank, Uni Phos & Uni tech.

Nifty is in Up Trend.

NIFTY FUTURES (F & O)  

Above 3045 level, rally may continue up to 3063 level by non-stop. Support at 3023 & 3034 levels. Below these levels, expect profit booking up to 2992-2994 zone and thereafter slide may continue up to 2963-2965 zone by non-stop. Buy if touches 2914-2916 zone. Stop Loss at 2885-2887 zone. On Positive Side, above 3092-3094 zone it can zoom up to 3121-3123 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 uptrend should continue.  

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

U S Markets were closed on yesterday for New Year's Day. The partially convertible rupee <INR=IN> ended at 48.76/78 per dollar on yesterday, weaker than Wednesday's close of 48.70/72.

Book Profits in CAPITAL GOODS Stocks

Trading Calls 02nd Jan 09 

+ve sectors & scripts : 

CNXMidcap, Bank, IT, Indiainfo, Polaris 

USE STRICT Stop Loss for todays trading 

BUY KLGsystel-111 for 122 with sl 107 [Trading] 

BUY Hindzinc-359 for 370-374 with sl 354 

BUY Tatapower-786 for 809-821 with sl 780 

BUY IBN18-102 for 109-111 with sl 100 [Breakout]

BUY Sesagoa-92 for 115 with sl 88 

BUY OBC-157 above 159 for 168 with sl 155 [Expected Breakout] 

BUY Rcom-245 above 252 for 290 with sl 245 

BUY IBRealest-154 for 163-173 with sl 151 [positional]

FII DATA

FII 01/01: 92.04 Cr. (Prov) 

DII 01/01: 160.41 Cr. (Prov)

--
Arvind Parekh
+ 91 98432 32381