Corporate News Headline
Maytas Infra bagged a project worth Rs. 1.1 bn from the Southern Railways for doubling the broad gauge track between Chengalpattu and Villupuram in Tamil Nadu. (BS) Tata Steel registered a 14% decline in sales to 1.07 MT in the third quarter compared to the corresponding quarter last year due to the current economic slowdown. (BS) Punj Lloyd secured a contract for civil works for approximately Rs. 2.64 bn from Airports Authority of India in connection with construction of a new airport in Sikkim. (BS) Economic and Political Headline India´s exports fell for the third straight month, posting a negative growth of 1.6% in December 2008 as demand from key markets continued to remain sluggish. (BS) Europe's inflation rate fell to 1.6% in December from 2.1% in November as oil prices plunged and consumer spending slumped, increasing the scope for the European Central Bank to reduce borrowing costs further. (Bloomberg) The UK services from restaurants to airlines shrank at close to the fastest pace in at least a dozen years and house prices fell by the most since 1991, suggesting that the recession is intensifying. (Bloomberg)NIFTY FUTURES (F & O)
Short Covering may continue up to 3135 level for time being.
Support at 3103 level. Below this level, selling may continue up to 3093 level.
Below 3057-3059 zone, expect panic up to 3023-3025 zone.
On Positive Side, supply expected at around 3169-3171 zone. Stop Loss at 3203-3205 zone.
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 Bearish, but SL triggered. SENSEX closed at above 10173 level on last 2 days. 3 Closes at above 10173 level can create short covering up to 10844 level by non-stop.
Support at 10173 level. 3 closes below this level, can take it up to 9503 level.
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 9,015.10. Up by 62.21 points.
The Broader S&P 500 closed at 934.70. Up by 7.25 points.
The Nasdaq Composite Index closed at 1,652.38. Up by 24.35 points.
The partially convertible rupee <INR=IN> closed at 48.66/69 per dollar on yesterday, weaker than from its Monday's close of 48.56/58.
NIFTY & SENSEX SPOT LEVELS TODAY
 | 3112.80 | ( -0.28 %) | -8.65 |  |
| 1 | 2 | 3 | ||
| Resistance | 3150.12 | 3178.78 | 3225.62 | |
| Support | 3074.62 | 3027.78 | 2999.12 | |
 | 10335.93 | ( 0.59 %) | 60.33 |  | |
| 1 | 2 | 3 | |||
| Resistance | 10364.81 | 10454.02 | 10601.87 | ||
| Support | 10127.75 | 9979.90 | 9890.69 | ||
Strong & Weak futures
This is list of 10 strong futures:
Sterlite Tech., India Info, JP Associat, Nagar Const, Dena Bank, Adlabs Film, Hind Zinc, ICICI Bank & Bajaj Hind.
And this is list of 10 Weak Futures:
Bhushan Steel, Bharti Airtel, Sterlin Bio, Satyam, TVS Motors, KPIT, Redington, Sunpharma, CMC & Colpal.
Nifty is in Up Trend.
Trading Calls 07th Jan 09
+ve sectors & scripts :
CNX500, Cement, Adhunik, Alkali, Drreddy, HDFC, SteelUSE STRICT Stop Loss for todays trading
BUY ACC-543 for 560 with sl 537 [Trading]
BUY ACC-543 for 560 with sl 537 [Breakout]
BUY Centurytex-197 for 221 with sl 190
BUY BHEL-1467 above 1475 for 1560 with sl 1460
BUY HDFCBank-1100 above 1110 for 1150 with sl 1090
BUY Tatamotor-186 above 188 for 194 with sl 186
FII DATA for 6th Jan
FII +374.02
DII -11.81
Latest version of PIB 4.03.02 is now available for download on http://power.indiabulls.com/
--
Arvind Parekh
+ 91 98432 32381.
