Corporate News Headline
Ashok Leyland and Japan´s Nissan are reviewing business plans for their three joint ventures that envisaged an investment of Rs. 23 bn for manufacturing of light commercial vehicles, power trains, and technology development. (ET)
Era Infra bagged a Rs. 2.23 bn order from state-run power utility NTPC for engineering-related works for its thermal power project in Nagpur. (BS)
Reliance Industries will start supplying natural gas from the Dhirubhai wells in the Krishna-Godavari basin in AP from the third week of February. (BS)
Economic and Political Headline
Inflation dipped to 5.07% for the week ended January 24 from 5.64% in the previous week due to falling prices of fruit and vegetables and manufactured goods. (BS)
The Commerce Secretary G K Pillai said that the positive impact of the packages to stimulate the economy will be seen from June. (BS)
The Bank of England cut the benchmark interest rate to 1% from 1.5%, which lowest since the bank was founded in 1694 to help drag the British economy out of the deepening recession. (Bloomberg)
NIFTY FUTURES (F & O) Above 2778 level, expect short covering up to 2806-2808 zone and thereafter expect a jump up to 2833-2835 zone by non-stop. Support at 2756 level. Below this level, selling may continue up to 2747-2749 zone and thereafter it can touch 2740 level by non-stop. Multiple support zones at 2710-2712 zone & 2719-2721 zone. Break below these zones can create some panic up to 2682-2684 zone and those oppurtunities can be used to buy. Stop Loss at 2645-2647 zone. On Positive Side, cross above 2843-2845 zone it can zoom up to 2870-2872 zone and thereafter it will touch 2889-2891 zone and if crosses & sustains at above this zone then uptrend may continue. Short-Term Investors: Bullish Trend. 3 closes above 2728 level, it can zoom up to 2942 level by non-stop.
BSE SENSEX If starts move up then exit long positions. Bulls got trapped. Short-Term Investors: Short-Term trend is Bullish and target at around 9678 level on upper side. Maintain a Stop Loss at 9049 level for your long positions too. 3 closes below 9049 level, it can tumble up to 8734 level by non-stop.
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 8,063.07. Up by 106.41 points. The Broader S&P 500 closed at 845.85. Up by 13.62 points. The Nasdaq Composite Index closed at 1,546.24. Up by 31.19 points. The partially convertible rupee <INR=IN> closed at 48.77/78 per dollar on yesterday, stronger than its previous close of 48.82/83.
Strong & Weak futures This is list of 10 strong futures:
WWIL, Polaris, Jindal steel, Balram Chini, Dena Bank, Grasim, BEL, ACC, HCL Tech & Renuka.
And this is list of 10 Weak Futures: DLF, Edu Comp, Aban, HDIL, Wel Guj, Punj Lloyd, Divis Lab, GDL, Gitanjali & Pantaloon. Nifty is in Up Trend.
METAL INDEX Stocks May Zoom
NIFTY & SENSEX SPOT LEVELS FOR TODAY
 | 2780.05 | ( -0.82 %) | -23.00 |  |
| 1 | 2 | 3 | ||
| Resistance | 2812.95 | 2845.85 | 2874.90 | |
| Support | 2751.00 | 2721.95 | 2689.05 | |
 | 9090.88 | ( -1.21 %) | -110.97 | | |
| 1 | 2 | 3 | |||
| Resistance | 9219.62 | 9348.36 | 9449.63 | ||
| Support | 8989.61 | 8888.34 | 8759.60 | ||
| FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| FII | 05-Feb-2009 | 1211.65 | 1238.62 | -26.97 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 05-Feb-2009 | 419.64 | 520.36 | -100.72 |
Arvind Parekh
+ 91 98432 32381
