Market Outlook 14th May 2009

Trading Calls 14th May 2009
Intraday Calls
Carefully note down the levels and values for buy, short, below, above
and @.
SHORT ONGC-854 for a target 818 stop loss 865
SHORT RCOM-222 below 219 for a target 209 stop loss 223

BUY YesBank-88 @ 83 for a target 88 stop loss 81
BUY Tatasteel-264 @ 249 for a target 260 stop loss 246

BUY Mundraport-438 above 445 for a target 472 stop loss 437
BUY HPCL-264 above 269 for a target 275 stop loss 266

 

NIFTY FUTURES (F & O):  
Selling may continue up to 3601-3603 zone for time being.

Hurdles at 3648 & 3651 levels. Above these levels, expect short covering up to 3692-3694 zone and thereafter it can zoom up to 3733-3735 zone by non-stop.

Cross above 3774-3776 zone, can take up to 3815-3817 zone. Supply expected at around this zone and have caution.

On Negative Side, rebound expected at around 3560-3562 zone. Stop Loss at 3519-3521 zone.
 
Short-Term Investors:  
Bullish Trend. 3 closes above 3342 level, it can zoom up to 3997 level by non-stop. 

BSE SENSEX:  
Lower opening expected. Recovery should start.

Short-Term Investors: 
 Short-Term trend is Bullish and target at around 13662 level on upper side.
Maintain a Stop Loss at 10962 level for your long positions too.
 
Global Cues & Rupee  
The Dow Jones Industrial Average closed at 8,284.89. Down by 184.22 points.
The Broader S&P 500 closed at 883.92. Down by 24.43 points.

The Nasdaq Composite Index closed at 1,664.19. Down by 51.73 points.

The partially convertible rupee <INR=IN> ended at 49.71/72 per dollar on yesterday, below Tuesday's close of 49.26/28.
  

 

Strong & Weak  futures  
This is list of 10 strong futures:

Bhusan Stl, Jindal Saw, Bajaj Hind, 3I Info Tech, HDIL, Havells, Axis Bk, IDFC, Tulip & Kotak Bk.

And this is list of 10  Weak :

Hind Uni Lvr, India Cem, Sterlin Bio, IVRCL Infra, Colpal, Alok Text, Cipla, Ambuja Cem & BPCL.
 Nifty is in Up Trend .

 

INVESTMENT BUY:
Sell JSW STEEL (NSE Cash)	Expected to open weak. Selling should continue.  Below 420 level, downtrend should continue up to 404 level and thereafter it can tumble up to 394 level by non-stop.   Above 420 level, expect short covering up to 431 level.
Sell ESSAR OIL (NSE Cash)	Expected to open weak. Selling should continue.  Below 145 level, downtrend should continue up to 140 level and thereafter it can tumble up to 136 level by non-stop.   Above 145 level, expect short covering up to 149 level.
Sell IVRCL INFRASTR & PROJECTS (NSE Cash)	Expected to open weak. Selling should continue.  Below 157 level, downtrend should continue up to 151 level and thereafter it can tumble up to 147 level by non-stop.   Above 157 level, expect short covering up to 161 level.
Sell DISH TV (I) FUTURES (NSE)	Expected to open weak. Selling should continue.  Below 35 level, downtrend should continue up to 33 level.   Above 35 level, expect short covering up to 36 level.
Sell BAJAJ HINDUSTAN FUTURES (NSE)	Expected to open weak. Selling should continue.  Below 109 level, downtrend should continue up to 104 level and thereafter it can tumble up to 101 level by non-stop.   Above 109 level, expect short covering up to 111 level.

 

SPOT LEVELS

	3635.25	( -1.25 %)	-45.85
		1	2	3
Resistance		3737.10	3793.10	3894.55
Support		3579.65	3478.20	3422.20

	12019.65		( -1.14 %)	-138.38
			1	2	3
Resistance			12359.98	12561.92	12929.22
Support			11790.74	11423.44	11221.

FII DATA

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
FII	13-May-2009	6082.6	1975.64	+4106.96

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	13-May-2009	957.19	851.46	+105.73

 

 

--
Arvind Parekh
+ 91 98432 32381