Market Outlook for 26th May 2009

Calls 26th May 2009
+ve Sector & Scripts : Mundraport
Intraday Calls
BUY Tatapower-1075 for a target 1125 stop loss 1055
BUY JPassociates-185 for a target 197 stop loss 182

Performance on 25th May, 2009
+ve Sector & Scripts : STAR [3.5%+++++]
BUY BRFL-207 for a target 220 stop loss 200 [H-217]
BUY Uniphos-164 for a target 172 stop loss 161 [H-173]
BUY TechMahindra-474 for a target 530 stop loss 460 [H-503]
Short Hindzinc-559 for a target 545 stop loss 566 [sl hit]
BUY WockPharma-117 for a target 130 stop loss 113 [H-124]
BUY Skumarsynf-37 above 39 for a target 45 stop loss 37 [H-38]

 

Strong & Weak  futures 26th May
This is list of 10 strong futures:

NIIT,Patel Eng, IFCI, HTMT Global, IVR Prime, Finan tech, Parsvnath, Gitanjali, Sobha & IVRCL Infra.

And this is list of 10  Weak :

Glaxo, Cipla, Colpal, Infosys tch, Hind Uni Lvr, ITC, TCS, Sterlin Bio, Tata Tea & Bharti Airtel.
 Nifty is in Up Trend .

 

NIFTY FUTURES (F & O):  
Below 4230 level, selling may continue up to 4202-4204 zone and thereafter slide may continue up to 4184-4186 zone by non-stop.

Hurdle at 4252 level. Above this level, expect short covering up to 4267 level by non-stop.

Sell if touches 4294-4296 zone. Stop Loss at 4320-4322 zone.

On Negative Side, break below 4175-4177 zone can create panic up to 4158-4160 zone by non-stop. If breaks & sustains this zone then downtrend may continue and have caution.
 
Short-Term Investors:  
Bearish Trend. 3 closes below 4620 level, it can tumble up to 3790 level by non-stop. 

BSE SENSEX: 
Weaker opening expected. Uptrend should continue. 

Short-Term Investors:  
Short-Term trend is Bearish and target at around 12478 level on down side.
Maintain a Stop Loss at 14931 level for your short positions too.
 
Global Cues & Rupee 
 U S Markets were closed yesterday for Memorial Day holiday.
The partially convertible rupee <INR=IN> ended at 47.28/30 per dollar on yesterday, weaker than Friday's close of 47.11/12.
 
 
POSITIONAL BUY:
Sell ONGC CORPN (NSE Cash) 
Lower opening expected. Selling may continue.

If trades below 1067 level, then selling may continue up to 1015 level. Break below 984 level, expect free fall too. 

If crosses 1067 level,

then traders can expect short covering up to 1099 level.
 
Sell HDFC BANK (NSE Cash) 

Lower opening expected. Selling may continue.

If trades below 1398 level, then selling may continue up to 1329 level. Break below 1290 level, expect free fall too. 

If crosses 1398 level,

then traders can expect short covering up to 1440 level.
 
Sell TATA MOTORS (NSE Cash) 
Lower opening expected. Selling may continue.

If trades below 354 level, then selling may continue up to 337 level. Break below 327 level, expect free fall too. 

If crosses 354 level,

then traders can expect short covering up to 365 level.
 
Sell GMR INFRASTRUCTURE FUTURES (NSE) 
Lower opening expected. Selling may continue.

If trades below 170 level, then selling may continue up to 161 level. Break below 156 level, expect free fall too. 

If crosses 170 level,

then traders can expect short covering up to 175 level.
 
Sell INDIA INFOLINE FUTURES (NSE) 
Lower opening expected. Selling may continue.

If trades below 140 level, then selling may continue up to 133 level. Break below 129 level, expect free fall too. 

If crosses 140 level,

then traders can expect short covering up to 144 level.
 

 

SPOT LEVELS 26th May

	4237.55	( -0.02 %)	-0.95
		1	2	3
Resistance		4270.03	4302.52	4334.98
Support		4205.08	4172.62	4140.13

	13913.22		( 0.19 %)	26.07
			1	2	3
Resistance			14021.10	14128.99	14229.91
Support			13812.29	13711.37	13603.48

INVESTMENT
Buy Lancor Holdings

BSE 509048
 
Strongest real estate player in Chennai..Equity Rs 4 crore, FY09 EPS Rs 21..stock available at a PE of 1.5...BUY with a target of Rs 140.  

(Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.)

--

Arvind Parekh

+ 91 98432 32381