Corporate News Headline
Jaiprakash Associates reported Q3'09 results, total revenue increased 44.42% yoy to Rs. 14.47 bn, and net profit rose 6.23% yoy to Rs. 1.66 bn. (ET) Cairn India has received government approval to commercially develop three oil and gas discoveries in Kameshwari West and a new development area of 822 square kilometres in the northern appraisal area of Rajasthan blocks. (ET) Unitech has repaid or rescheduled about three-fourth of the Company´s debt worth Rs. 25 bn to be paid by March 2009. (BS) Economic and Political Headline The government may decide on giving a three-year drilling holiday or moratorium to firms such as state-owned Oil and Natural Gas Corp and Reliance Industries as they are facing a shortage of offshore drilling rigs. (ET) The UK government's Treasury authorized the Bank of England to buy USD 73 bn of assets and plans to raise its stake in Royal Bank of Scotland Group Plc to spur 6 bn pounds of lending. (Bloomberg) Top advisers to President-elect Barack Obama signaled that they will emphasize getting credit to consumers and businesses rather than helping banks as the new administration deploys the second half of the USD 700 bn rescue fund. (Bloomberg)NIFTY AND SENSEX SPOT LEVELS TODAY
 | 2846.20 | ( 0.63 %) | 17.75 |  |
| 1 | 2 | 3 | ||
| Resistance | 2869.63 | 2893.07 | 2917.93 | |
| Support | 2821.33 | 2796.47 | 2773.03 | |
 | 9329.57 | ( 0.06 %) | 5.98 | | |
| 1 | 2 | 3 | |||
| Resistance | 9401.56 | 9473.56 | 9537.60 | ||
| Support | 9265.52 | 9201.48 | 9129.48 | ||
NIFTY FUTURES (F & O)
Above 2847-2849 zone, rally may continue up to 2854 level and thereafter expect a jump up to 2868-2870 zone by non-stop.
Support at 2820 & 2823 levels. Below these levels, expect profit booking up to 2798-2800 zone and thereafter slide may continue up to 2777-2779 zone.
Buy if touches 2770-2772 zone. Stop Loss at 2750-2752 zone.
On Positive Side, above 2875-2877 zone it can zoom up to 2895-2897 zone and if crosses & sustains at above this zone then uptrend may continue.
Short-Term Investors:
Bearish Trend. 3 closes below 3144 level, it can tumble up to 2312 level by non-stop.
BSE SENSEX
Technically buying should continue.
Short-Term Investors:
Short-Term trend is Bullish and target at around 9872 level on upper side.
On Negative Side, corrections up to 9178 level can be used to buy. Maintain a Stop Loss at 8947 level for your long positions too.
Strong & Weak futures
This is list of 10 strong futures:
Jet Airways,Balram Chin,Neyveli,Triveni,Hind Petro,Nucleus,Renuka,Ambuja Cem,BEL & Can Bk.
And this is list of 10 Weak Futures:
Punj Llyod,Star,BRFL,Ivrcl Infra,Mah Life,IVR Prime,Siemens,KPIT,Rel Capital & Gitanjali.
Nifty is in Down Trend.
Nifty is in Down Trend.
Trading Calls 20th Jan 2009
+ve Sector : CNX100, Manglmcem, PNBgilts
-ve Sector : Bank, Ultatech, Zee
USE STRICT Stop Loss for todays trading
Short Bhartiartl-646 below 636 for 625 with sl 641
Short HDFCBank-941 for 910 with sl 950
Short ICICIBank-412 for 385 with sl 420
-ve to Market :
1. Continous selling by FII 2. DII selling 3. Expected slowdown/Q3Results 4. Rs.Vs$ 5. Sentiment 6. There is no delivery based buying by investors 7. Asian Market tmble 8. SGX nifty.
1. Continous selling by FII 2. DII selling 3. Expected slowdown/Q3Results 4. Rs.Vs$ 5. Sentiment 6. There is no delivery based buying by investors 7. Asian Market tmble 8. SGX nifty.
GLOBAL CUES & RUPEE
U.S. markets were closed on yesterday for Martin Luther King Day.
The partially convertible rupee <INR=IN> closed at 48.70/71 per dollar on yesterday, stronger than Friday's close of 48.78/80.
Book Profits in BANKEX Stocks
FII DATA
FII -363.37
DII +275.97
--
Arvind Parekh
+ 91 98432 32381
