Thursday, January 15, 2009

Market Outlook for 15th Jan'09

Headlines for the day
    Corporate News Headline
    HDFC Bank reported Q3'09 results, total revenue rose 58.8% yoy to Rs. 54.08 bn, and net profit increased 44.8% yoy to Rs. 6.22 bn. (BS)
    Reliance Industries has denied any pact with Reliance Natural Resources Ltd for the sale of natural gas from the Krishna-Godavari basin off the Andhra Pradesh coast. (ET)
    BHEL is planning to form a joint venture company along with Karnataka Power Corporation for setting up three coal-based power plants in Karnataka. (ET)

    Economic and Political Headline
    The government has allowed 100% FDI in facsimile edition of foreign newspapers and Indian edition of foreign magazines dealing with news and current affairs. (BS)
    Sales at the US retailers fell 2.7% in December, for the sixth straight month, as job losses and the lack of credit led Americans to cut back on consumption. (Bloomberg)
    The UK Prime Minister Gordon Brown pledged to guarantee USD 31 bn of loans to companies acknowledging the failure of bank bailouts and spending plans to contain the recession. (Bloomberg)
 
NIFTY FUTURES (F & O)
  Below 2798 level, expect profit booking up to 2769-2771 zone and thereafter slide may continue up to 2743-2745 zone.

Hurdle at 2822 level. Above this level, rally may continue up to 2835 level by non-stop.

Above 2861-2863 zone, it can zoom up to 2887-2889 zone and supply expected at around this zone.

On Negative Side, rebound expected at around 2682-2684 zone. Stop Loss at 2656-2658 zone.
  
Short-Term Investors:
 
 Short-Term trend is Bearish and target at around 2312 level on down side.

On Positive Side, rallies up to 2936 level can be used to exit. Maintain a
Stop Loss at 3144 level for your short positions too.
 
BSE SENSEX   
 False singal is likely. Technically recovery should happen.
  
Short-Term Investors:  
 Bearish Trend. 3 closes below 10470 level, it can tumble up to 7579 level by non-stop. 
 
 
Strong & Weak  futures  
This is list of 10 strong futures: Can Bk, Infosystch, LIC, M&M, GMR Infra, Nucleus, India Cem, BEL, Dabur & Neyvelilig. And this is list of 10  Weak Futures: Rolta, TVS Motor, STAR, Punj Llyod, BRFL, Nagar Const, Siemens, Edu Comp & DLF.
 Nifty is in Down Trend.
 

GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 8,200.14. Down by 248.42 points.
The Broader S&P 500 closed at 842.62. Down by 29.17 points.
The Nasdaq Composite Index closed at 1,489.64. Down by 56.82 points.
The partially convertible rupee <INR=IN> closed at 48.85/86 per dollar on yesterday, stronger than
its previous close of 49.11/12.
 
Trading Calls 15th Jan 2009
+ve scripts : Alsalinfra, Cromptgreav,
USE STRICT Stop Loss for todays trading
 
SHORT Tatapower-766 below 754 for 710 with sl 766
SHORT HPCL-269 for 255 with sl 273
 
BUY HeroHonda-827 above 835 for 857 with sl 830
 
-ve to Market : 1. US Market 2. Asian Market 3. SGX nifty 4. ADR's fall
--
Arvind Parekh
+ 91 98432 32381