Tuesday, May 19, 2009

Market Outlook for 19th May 2009

 
NIFTY FUTURES (F & O): 
 Rally may continue up to 4428 level for time being.
Support at 4317 & 4322 levels. Below these levels, expect profit booking up to 4178-4180 zone and thereafter expect a slide up to 4041-4043 zone by non-stop.

Buy if touches 3447-3449 zone. Stop Loss at 3310-3312 zone.

On Positive Side, cross above 4565-4567 zone can take up to 4702-4704 zone. If crosses & sustains at above this zone then uptrend may continue.
 
Short-Term Investors:  
Bullish Trend. 3 closes above 3550 level, it can zoom up to 5286 level by non-stop. 

BSE SENSEX:  
Higher opening expected. Uptrend should continue. 

Short-Term Investors:  
Short-Term trend is Bullish and target at around 16873 level on upper side.
Maintain a Stop Loss at 11695 level for your long positions too.
 
INVESTMENT BUY:
Buy RELIANCE INDS (NSE Cash)
 
Expected to open strong. Buying should continue.
Above 2320 level, uptrend should continue up to 2415 level and thereafter it can zoom up to 2475 level by non-stop and thereafter short selling looks risky. 

Below 2320 level, expect profit booking up to 2262 level.
 
Buy BHARTI AIRTEL (NSE Cash) 
Expected to open strong. Buying should continue.
Above 983 level, uptrend should continue up to 1023 level and thereafter it can zoom up to 1049 level by non-stop and thereafter short selling looks risky. 

Below 983 level, expect profit booking up to 959 level.
 
Buy BHEL (NSE Cash) 
Expected to open strong. Buying should continue.
Above 1975 level, uptrend should continue up to 2055 level and thereafter it can zoom up to 2107 level by non-stop and thereafter short selling looks risky. 

Below 1975 level, expect profit booking up to 1925 level.
 
Buy GVK POWER & INFRA FUTURES (NSE) 
Expected to open strong. Buying should continue.
Above 34 level, uptrend should continue up to 36 level and thereafter short selling looks risky. 

Below 34 level, expect profit booking up to 33 level.
 
Buy SUZLON ENERGY FUTURES (NSE) 
Expected to open strong. Buying should continue.
Above 92 level, uptrend should continue up to 95 level and thereafter it can zoom up to 98 level by non-stop and thereafter short selling looks risky. 

Below 92 level, expect profit booking up to 89 level.
 
 

 
 
SPOT LEVELS
NSE Nifty Index   4323.15 ( 17.74 %) 651.50       
  1 2 3
Resistance 4580.58 4838.02   5291.73  
Support 3869.43 3415.72 3158.28

BSE Sensex  14272.63 ( 17.24 %) 2099.21     
  1 2 3
Resistance 14552.48 14820.76 15357.30
Support 13747.66 13211.12 12942.84
Global Cues & Rupee 
 The Dow Jones Industrial Average closed at 8,504.08. Up by 235.44 points.
The Broader S&P 500 closed at 909.71. Up by 26.83 points.
The Nasdaq Composite Index closed at 1,732.36. Up by 52.22 points.
The partially convertible rupee <INR=IN> closed at 47.88/90 per dollar on yesterday, stronger than Friday's close of 49.41/42.
 
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 18-May-2009 56.91 12.27 +44.64
DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category Date Buy Value Sell Value Net Value
DII 18-May-2009 41.62 50.03 -8.41
 

--
Arvind Parekh
+ 91 98432 32381