Tuesday, February 10, 2009

Market Outlook for 10th Feb 2009

Headlines for the day
   Corporate News Headline
   BHEL bagged Rs. 70 bn contracts from various customers for the supply and installation of main plant equipment for thermal power projects. (ET)
   Nagarjuna Construction Company has bagged four new orders aggregating Rs. 7.12 bn from the Mumbai Metropolitan Region Development Authority. (BS)
   BEML has bagged the order for supplying 150 coaches valued at around Rs. 16.72 bn from the Bangalore Metro Rail corporation Ltd. (BS)
 
   Economic and Political Headline
   Given the impact of the global financial meltdown, the government projected Indian economic growth to slow down to 7.1% in the current fiscal against 9% in 2007-08. (BS)
   Treasury Secretary Timothy Geithner delayed the announcement of the Obama administration's financial-recovery plan as officials debated proposals aimed at addressing the toxic debt clogging banks' balance sheets. (Bloomberg)
   The US Treasury Secretary Timothy Geithner urged finance ministers from the G7 economies to act "promptly to restore health to the global economy. (Bloomberg)
 
Strong & Weak  futures 
 This is list of 10 strong futures:
WWIL, Sesa Goa, GE Ship, Jindal Steel, GMR Infra, Grasim, SAIL, GT Offshore, Balram Chini & Bhushan Steel.
And this is list of 10  Weak Futures:
DLF, Aban, HDIL, GDL, Wel Guj, Punj Lloyd, Divis Lab, Edu Comp, Orchid Chem & Tulip.
 Nifty is in Up Trend.
 
NIFTY FUTURES (F & O)
  Below 2883 level, expect profit booking up to 2842-2844 zone and thereafter slide may continue up to 2804-2806 zone by non-stop.
Hurdle at 2921 level. Above this level, rally may continue up to 2928-2930 zone by non-stop.
Cross above 2966-2968 zone, it can zoom up to 3004-3006 zone and thereafter it can touch 3030-3032 zone and supply expected at around this zone.
On Negative Side, below 2766-2768 zone expect panic up to 2728-2730 zone and buying can be done at around this zone. Stop Loss at 2703-2705 zone.
  
Short-Term Investors:  
 Bullish Trend. 3 closes above 2728 level, it can zoom up to 2942 level by non-stop.
 
BSE SENSEX   
 Traders can expect bounce.
  
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.
 
Trading Calls 10th Feb 2009
USE STRICT Stop Loss for todays trading
Buy BEML-370 for 385 with sl 365 [Trading]
Buy GMRinfra-82 for 88 with sl 79
 
Buy ONGC-724 for 735 with sl 720
Buy RIL-1389 for 1426 with sl 1375
 
Buy SAIL-89 for 95-98 with sl 87

 
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 8,270.87. Down by 9.72 points.
The Broader S&P 500 closed at 869.89. Up by 1.29 points.
The Nasdaq Composite Index closed at 1,591.56. Down by 0.15 points.
The partially convertible rupee <INR=IN> closed at 48.57/58 per dollar on yesterday, stronger than its previous close of 48.67/68.
 
NIFTY & SESEX SPOT LEVELS FOR TODAY
NSE Nifty Index   2919.90 ( 2.70 %) 76.80       
  1 2 3
Resistance 2951.05 2982.20   3037.65  
Support 2864.45 2809.00 2777.85
BSE Sensex  9583.89 ( 3.04 %) 283.03     
  1 2 3
Resistance 9680.56 9777.22 9952.89
Support 9408.23 9232.56 9135.90
FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category Date Buy Value Sell Value Net Value
FII 09-Feb-2009 1290.27 1004.88 285.39
 
DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category Date Buy Value Sell Value Net Value
DII 09-Feb-2009 650.51 696.49 -45.98
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Arvind Parekh
+ 91 98432 32381