Headlines for the day
Corporate News Headline
Tata Communications has approached the government for a right issue to raise Rs. 10 bn and another Rs. 20 bn through debt to finance acquisitions in the US and the UK and bid for spectrum for wireless broadband. (BS)
GAIL India has stopped the sale of 47 mn cubic metres a day as a strike by officials of state-run oil firms has hit supplies. (BS)
BHEL is planning to form a joint venture with the European firm for manufacturing nuclear forgings in the calendar year. (BS)
Economic and Political Headline
The government said that it may cut petrol and diesel prices further in "the next 2 to 3 weeks" and also slash cooking gas prices. (BS)
The Prime Minister Manmohan Singh said that the country expects to achieve a growth rate of about 7% this year, stressing that the fundamentals of the Indian economy remain strong despite the global economic downturn. (BS)
The Bank of England cut the benchmark interest rate a half-point to 1.5% as policy makers tried to prevent the credit squeeze from deepening Britain's recession. (Bloomberg)
Corporate News Headline Tata Communications has approached the government for a right issue to raise Rs. 10 bn and another Rs. 20 bn through debt to finance acquisitions in the US and the UK and bid for spectrum for wireless broadband. (BS) GAIL India has stopped the sale of 47 mn cubic metres a day as a strike by officials of state-run oil firms has hit supplies. (BS) BHEL is planning to form a joint venture with the European firm for manufacturing nuclear forgings in the calendar year. (BS) Economic and Political Headline The government said that it may cut petrol and diesel prices further in "the next 2 to 3 weeks" and also slash cooking gas prices. (BS) The Prime Minister Manmohan Singh said that the country expects to achieve a growth rate of about 7% this year, stressing that the fundamentals of the Indian economy remain strong despite the global economic downturn. (BS) The Bank of England cut the benchmark interest rate a half-point to 1.5% as policy makers tried to prevent the credit squeeze from deepening Britain's recession. (Bloomberg)NIFTY FUTURES (F & O)
Selling may continue up to 2868-2870 zone for time being.
Selling may continue up to 2868-2870 zone for time being.
Hurdles at 2924 & 2956 levels. Above these levels, expect short covering up to 3055-3057 zone and thereafter expect a jump up to 3154-3156 zone by non-stop.
Sell if touches 3253-3255 zone. Stop Loss is too far and can be placed at around 3352-3354 zone.
On Negative Side, break below 2769-2771 zone can create some panic up to 2670-2672 zone by non-stop.
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.
Short-Term Investors:
Trend is Bearish & Target at around 9503 level on down side. Rallies up to 9838 level can be used to exit. Stop Loss at 10173 level.
Trading Calls 09th Jan 09
Technically recovery should happen.
Short-Term Investors:
Trend is Bearish & Target at around 9503 level on down side. Rallies up to 9838 level can be used to exit. Stop Loss at 10173 level.
Trading Calls 09th Jan 09
-ve sectors & scripts : Bank, NBFc, Reliance, HDFCBank,
USE STRICT Stop Loss for todays trading
BUY AxisBank @ 490-86 for 520 with sl 580
BUY Maruthi @ 547-550 for 565-573 with sl 540
Short Educomp @ 2410-2420 for 2220 with sl 2460
Short SBIN @ 1254-1260 for 1190 with sl 1270
NIFTY & SENSEX SPOT LEVELS FOR 8th Jan 2009
 | 2920.40 | ( -6.18 %) | -192.40 |  |
| 1 | 2 | 3 | ||
| Resistance | 3082.33 | 3244.27 | 3341.33 | |
| Support | 2823.33 | 2726.27 | 2564.33 | |
 | 9586.88 | ( -7.25 %) | -749.05 | | |
| 1 | 2 | 3 | |||
| Resistance | 10201.02 | 10815.15 | 11160.59 | ||
| Support | 9241.45 | 8896.01 | 8281.88 | ||
Strong & Weak futures
This is list of 10 strong futures:
Hind Zinc, India Cem, Grasim, Sterlite Inds, Ultra Cem Co, PFC, Balram Chin, Sail, Tata Steel & Guj Alkalies.
And this is list of 10 Weak Futures:
Satyam, IVRCL Infra, LITL, DLF, Bhushan Steel, KPIT, Ansal Infra, JP Associat & TVS Motor.
Nifty is in Up Trend.
| FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| FII | 07-Jan-2009 | 2496.52 | 3607.77 | -1111.25 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 07-Jan-2009 | 1103.47 | 1608.96 | -505.49 |
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 8,742.46. Down by 27.24 points.
The Broader S&P 500 closed at 909.73. Up by 3.08 points.
The Nasdaq Composite Index closed at 1,617.01. Up by 17.95 points.
Forex Market have been shut on yesterday for a local holiday.
OIL & GAS INDEX Stocks May Fall
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Arvind Parekh
+ 91 98432 32381
Arvind Parekh
+ 91 98432 32381
