Friday, March 20, 2009

Market Outlook for 20th March

Trading Calls 20th Mar 2009
+ve Sector/scripts : IT, CNXMidcap, Bombaydye, Matrixlab, Indiabulls,
IBRealest
USE STRICT Stop Loss for todays trading
BUY OFSS-693 for the target 710 with stop loss 686

BUY KotakBank-269 for the target 278 with stop loss 265
BUY Bankindia-203 for the target 210 with stop loss 200

Short Relcap-318 for the target 290 with stop loss 326
Short Cipla-178 for the target 174-170 with stop loss 181
 
NIFTY FUTURES (F & O)
  Support at 2777 & 2791 levels. Below these levels, expect profit booking up to 2752-2754 zone and thereafter slide may continue up to 2738-2740 zone by non-stop.
Hurdle at 2819-2821 zone. Above this zone, rally may continue up to 2826 level and thereafter expect a jump up to 2841-2843 zone by non-stop.
Cross above 2848-2850 zone, it can zoom up to 2870-2872 zone and supply expected at around this zone and have caution.
On Negative Side, rebound expected at around 2730-2732 zone. Stop Loss at 2716-2718 zone.
  
Short-Term Investors:  
 Bullish Trend. 3 closes above 2728 level, it can zoom up to 2932 level by non-stop.
  
BSE SENSEX  
  Traders can expect profit booking.
  
Short-Term Investors:  
 Short-Term trend is Bullish and target at around 9439 level on upper side.
Maintain a Stop Loss at 8802 level for your long positions too.
 
Strong & Weak  futures 
 This is list of 10 strong futures:
Tulip, BRFL, KPIT, Jet Airways, Matrix Labs, Ster, Sasken, NIIT, Hind Zinc & Tata Motors.
And this is list of 10  Weak Futures:
Rolta, Alok Text, Ranbaxy, Indian Bank, Network 18, Allahabad Bank, Can Bank, Orient Bank, Triveni & IOC.
  Nifty is in Up Trend.
 
 
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 7,400.80. Down by 85.78 points.
The Broader S&P 500 closed at 784.04. Down by 10.31 points.
The Nasdaq Composite Index closed at 1,483.48. Down by 7.74 points.
The partially convertible rupee <INR=IN> ended at 50.3650/3850, stronger than
from Wednesday's close of 51.29/30.
 
+ve to Market : 1. FII Buing 2. Inflation 3. Advance Tax collection
-ve to Market: 1. Expecting the YOY result from big boys will not meet
the market and DS expectation 2. There is no positive news will come
from Govt. [because of the announcement of the Election date] 3.
International market condition also will not boost the Indian market
4.  Mutual fund's redemption pressure for the year 2009 March. 5. DII
selling 6. US Market 7. SGX nifty 8. Gold fluctuation 9. Rs.Vs$

--
Arvind Parekh
+ 91 98432 32381