Headlines for the day
Corporate News Headline
Maruti Suzuki India's January vehicle sales stood at 71,779 units as compared to 68,107 units during the same time last year, up by 5.4%. (ET) GAIL India signed an agreement with IFFCO for looking at the possibilities of setting up a gas-based power plant and a fertiliser unit in India. (BS) Parsvnath Developers approached banks for 9-12 months´ breather on paying instalments of its existing debt, and plans to utilise the additional liquidity on timely completion of current projects. (BS) Economic and Political Headline The merchandise exports from India shrunk 1% in December, 2008 and stood at USD 12.7 bn, compared to USD 12.82 bn in the same month last year. Imports during the month increased by 9% to USD 20.25 bn from USD 18.61 bn in the year ago month. With Imports outpacing exports, trade deficit in December stood at USD 7.5 bn, a rise of 31.5% compared to USD 5.7 bn in the same month of 2007. (BS) The manufacturing activity shrank for a third straight month in January as faltering business and consumer confidence and a sharp global slowdown crimped demand. (ET) General Motors Corp. and Chrysler LLC, propped up with USD 13.4 bn in emergency federal loans, are offering new buyout programs to about 91,000 factory employees to reduce labour costs as sales slow. (Bloomberg)
This is list of 10 strong futures:
Balram Chini, Polaris, Jindal Steel, Edelweiss, BEL, Nagar Fert, Neyveli Lig, Triveni, Hind Petro & Hero Honda.
And this is list of 10 Weak Futures:
DLF, Wel Guj, Punj Lloyd, ABAN, Divis Lab, HDIL, NDTV, R Com, Mah Life & Gitanjali.
Nifty is in Up Trend.
NIFTY FUTURES (F & O)
Below 2718 level, selling may continue up to 2676-2678 zone by non-stop.
Hurdles at 2745 & 2765 levels. Above these levels, expect short covering up to 2805-2807 zone and thereafter expect a jump up to 2845-2847 zone by non-stop.
Above 2938-2940 zone, it can zoom up to 2978-2980 zone and thereafter it will try to touch 3058-3060 zone and supply expected at around this zone.
On Negative Side, rebound expected at around 2636-2638 zone. Stop Loss at 2610-2612 zone.
Short-Term Investors:
Bearish Trend. 3 closes below 3144 level, it can tumble up to 2312 level by non-stop.
BSE SENSEX
Traders can expect selling further.
Short-Term Investors:
Short-Term trend is Bullish and target at around 9910 level on upper side.
On Negative Side, corrections up to 8951 level can be used to buy. Maintain a Stop Loss at 8632 level for your long positions too.
Trading Calls 03rd Feb 2009
+ve Sector Scripts : GHCL, HOCL, PNBglits, Aloktex
USE STRICT Stop Loss for todays trading
Buy ONGC-639 above 645 for 660 with sl 640 [Trading]
Buy Bhartiartl-615 above 622 for 600 with sl 615
Buy BHEL-1306 above 1311 for 1326-1340 with sl 1302
Buy GAIL-202 above 205 for 213-17 with sl 202
Buy GEShip-178 for 185 with sl 175
Buy KSK-157 above 161 for 174 with sl 157
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 7,936.75. Down by 64.11 points.
The Broader S&P 500 closed at 825.44. Down by 0.44 points.
The Nasdaq Composite Index closed at 1,494.43. Up by 18.01 points.
The partially convertible rupee <INR=IN> closed at 48.92/93 per dollar on yesterday, weaker than its previous close of 48.87/88.
 | 2766.65 | ( -3.76 %) | -108.15 |  |
| 1 | 2 | 3 | ||
| Resistance | 2839.83 | 2913.02 | 2952.58 | |
| Support | 2727.08 | 2687.52 | 2614.33 | |
 | 9066.70 | ( -3.79 %) | -357.54 | | |
| 1 | 2 | 3 | |||
| Resistance | 9270.53 | 9474.36 | 9585.14 | ||
| Support | 8955.92 | 8845.14 | 8641.31 | ||
| FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| FII | 02-Feb-2009 | 1239.19 | 1364.87 | -125.68 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 02-Feb-2009 | 642.06 | 803.44 | -161.38 |
--
Arvind Parekh
+ 91 98432 32381
