RESISTANCE
4342
4351
4376
4387
4421
SUPPORT
4326
4308
4272
4238
4227
4193
ICICI,RELCAP,SUZLON,ISPAT,RIL
This is list of 10 strong futures:
Above 4340-4342 zone, rally may continue up to 4351 level and thereafter expect a jump up to 4374-4376 zone by non-stop.
Support at 4308 & 4326 levels. Below these levels, expect profit booking up to 4272-4274 zone and thereafter slide may continue up to 4238-4240 zone by non-stop.
Buy if touches 4227-4229 zone. Stop Loss at 4193-4195 zone.
Short-Term Investors:
Bearish Trend. 3 closes below 4709 level, it can tumble up to 3688 level by non-stop.
BSE SENSEX:
Higher 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.
Buy RELIANCE INDS (NSE Cash)
Higher opening expected. Buying may continue.
If trades above 2165 level, then buying may continue up to 2276 level. Cross above 2344 level, expect fire works too.
If breaks 2165 level, then traders can expect profit booking up to 2100 level.
Buy ICICI BANK (NSE Cash)
Higher opening expected. Buying may continue.
If trades above 712 level, then buying may continue up to 749 level. Cross above 771 level, expect fire works too.
If breaks 712 level, then traders can expect profit booking up to 691 level.
Buy RELIANCE CAPITAL (NSE Cash)
Higher opening expected. Buying may continue.
If trades above 908 level, then buying may continue up to 955 level. Cross above 984 level, expect fire works too.
If breaks 908 level, then traders can expect profit booking up to 881 level.
Buy SUZLON ENERGY FUTURES (NSE)
Higher opening expected. Buying may continue.
If trades above 89 level, then buying may continue up to 94 level. Cross above 97 level, expect fire works too.
If breaks 89 level, then traders can expect profit booking up to 87 level.
Buy ISPAT INDUSTRIES FUTURES (NSE)
Higher opening expected. Buying may continue.
If trades above 24 level, then buying may continue up to 26 level.
If breaks 24 level, then traders can expect profit booking up to 23 level.
Global Cues & Rupee
The Dow Jones Industrial Average closed at 8,403.80. Up by 103.78 points.
The Broader S&P 500 closed at 906.83. Up by 13.77 points.
 | 4337.10 | ( 1.43 %) | 61.05 |  |
| 1 | 2 | 3 | ||
| Resistance | 4336.58 | 4397.12 | 4507.78 | |
| Support | 4165.38 | 4054.72 | 3994.18 | |
 | 14296.01 | ( 1.32 %) | 186.37 | | |
| 1 | 2 | 3 | |||
| Resistance | 14228.14 | 14346.65 | 14570.51 | ||
| Support | 13885.77 | 13661.91 | 13543.40 | ||
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 | 28-May-2009 | 5877.39 | 4017.8 | 1859.59 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 28-May-2009 | 1942.55 | 2393.8 | -451.25 |
Go Long SCI, Great Eastern and Mercator Lines
There has been a sustained rise in the Baltic Dry Index for the past few months, lending credence to a view that Shipping, that is bulk shipping is finally turning the corner with the rest of the world.
Credit and GDP revisions will drive a steady recovery in the commodity shipping sector over the short term as well as the coming years. Over the very near-term dry bulk names like SCI, GESCO and Varun are being favoured, although a better buying opportunity in the event of a double-dip in freight rates at the seasonally strong grain trade occurs.
A more contrarian view is that tanker fundamentals are set to rebound. Current OPEC cuts have flattened the crude contango, thereby triggering a substantial rally in crude oil prices while sending tanker rates to new lows. However, improving oil fundamentals should result in an increase in cross trades and a modest re-bound in freight rates into 2H09.
This trend should continue into 2010/11 as a very tight global crude oil market continues to fuel cross trades, in addition to an underlying shift in favor of Middle East cargoes.
Brisk chartering activity in the dry bulk market and improving fundamentals for some time now, and last weeks positive leading indicator with news of apparent China steel demand growing at 7% in Q109, and continuing to grow in April 2009 is fuelling demand for intra-Asia bulk traffic.
Apparently demand fell 12% in Q408. There was some inventory build in Jan-March, but since then inventories are leveling off, supporting the view that the dry bulk market has entered a period of sustainable recovery. Analyst's forecast for freight rates and value of second hand ships have consequently been revised upwards.
(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
