Tuesday, January 27, 2009

Market Outlook for 27.01.09

Headlines for the day
    Corporate News Headline
    SBI reported Q3'09 results; total revenue increased 38.3% yoy to Rs. 212.56 bn and net profit increased 37% yoy to Rs. 24.78 bn. (BS)
    ICICI Bank reported Q3'09 results; total revenue increased 8.11% yoy to Rs. 156.53 bn and net profit increased 39.29% yoy to Rs. 15.6 bn. (BS)
    HUL reported weak Q4'08 results; total revenue increased 16.8% yoy to Rs. 43.08 bn, however, net profit declined 2.49% yoy to Rs. 6.16 bn. (BS)

    Economic and Political Headline
    According to the RBI reports, after recording double-digit growth for 14 consecutive quarters, the country´s services sector growth decelerated to 9.6% during Q2 FY09. (ET)
    The Indian economy may grow 6.8% in the 12 months ending March 31, less than the 7.7% forecasted in September, its weakest pace in six years, pulled down by the global recession, the RBI said. (Bloomberg)
    In US, sales of existing homes rose 6.5% to an annual rate of 4.74 mn propelled by the biggest slump in prices since the Great Depression and the Conference Board's Index of leading economic indicators increased 0.3% as the supply of money expanded. (Bloomberg)
 
NIFTY FUTURES (F & O)
  Above 2683 level, expect short covering up to 2711-2713 zone and thereafter expect a jump up to 2739-2741 zone by non-stop.
Support at 2651-2653 zone. Below this zone, selling may continue up to 2644-2646 zone and thereafter slide may continue up to 2623-2625 zone.
Buy if touches 2614-2616 zone. Stop Loss at 2586-2588 zone.
On Positive Side, above 2748-2750 zone it can zoom up to 2776-2778 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   
 False signal is likely. Technically profit booking should continue.
  
Short-Term Investors:  
 Short-Term trend is Bearish and target at around 8060 level on down side.
On Positive Side, short rallies up to 9072 level can be used to exit. Maintain a Stop Loss at 9409 level for your short positions 
 
Strong & Weak  futures  
This is list of 10 strong futures:
Polaris, Balrampur Chini, Power Grid, Ultra Cem, Neyveli, BEL, Hero Honda, Colpal, Naukri & Matrix Labs. 
And this is list of 10  Weak Futures:
Rolta, Aban, IVRCL  Infra, DLF, Zeel, Punjlloyd, Nagar Const, Welguj, TVS Motor, Kotak Bank & Siemens. 
Nifty is in Down Trend.
 
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 8,116.03. Up by 38.47 points.
The Broader S&P 500 closed at 836.57. Up by 4.62 points.
The Nasdaq Composite Index closed at 1,489.46. Down by 12.17 points.
Indian financial markets were closed on yesterday for a holiday.
 
OIL & GAS INDEX Stocks May Zoom
 
NIFTY AND SENSEX SPOT LEVELS FOR THE DAY
NSE Nifty Index   2678.55 ( -1.30 %) -35.25       
  1 2 3
Resistance 2742.18 2805.82   2846.08  
Support 2638.28 2598.02 2534.38

BSE Sensex  8674.35 ( -1.58 %) -139.49     
 

 

1

2 3
Resistance 8811.59 8948.84 9038.83
Support 8584.35 8494.36 8357.11
 
--
Arvind Parekh
+ 91 98432 32381