Breakout CallsBUY IDBI-111 for a target 127 stop loss 106BUY RELInfra-1269 for a target 1364 stop loss 1230
Expected Breakout CallsBUY ITC-198 above 200 for a target 208-212 stop loss 197BUY REC-163 above 166 for a target 178 stop loss 163
Positional CallsBUY IndusIndBank-82 for a target 95 stop loss 77BUY IDFC-143 for a target 157-163 stop loss 139
Headlines : 17 June 2009
Corporate News Headline
• RNRL has joined the race to hire the LNG terminal adjacent to the Dabhol power plant to import liquefied natural gas cargoes. (BS)
• Sesa Goa is looking to raise about Rs. 5.83 bn through issue of shares to the firm's promoters and its associates. (ET)
• IVRCL Infrastructures and Projects has secured orders worth Rs. 4.32 bn from Mumbai-based Coastal Gujarat Power Limited for design and construction of all main civil works. (BS)
Economic and Political Headline
• Available data on advance tax payments for the first quarter of the financial year indicates that the manufacturing sector may take more time to recover, while the financial sector remains buoyant. (BS)
• Housing market in the US starts jumped more than forecast in May while industrial production tumbled, offering a picture of an American economy still struggling to emerge from the deepest recession in half a century. (Bloomberg)
• The UK inflation rose 2.2% from a year earlier in May, at slower than economists forecast after higher taxes and the weakness of the pound sustained price pressures in the economy. (Bloomberg)
NIFTY fut
SUPP
4509
4463
4419
4375
4331
RESIS
4539
4561
4605
4649
SELL>INDUSIND,FSL,ICICI,SUZLON,RELIANCE
Strong & Weak futures
This is list of 10 strong futures:
Tech M,, Indusind Bank, Bajaj Hind, JP Hydro, MRPL, JSW Steel, Aurobindoph Pharma,IDBI, IFCI & RNRL.
And this is list of 10 Weak :
Canra Bank, Reliance, GMR Infra, Naukri, RPL, India Info, Purva, Sterlin Bio, Jet Airways & TCS
Nifty is in Up Trend .
NIFTY FUTURES (F & O):
Below 4509 level, expect profit booking up to 4463-4465 zone and thereafter expect a slide up to 4419-4421 zone by non-stop.
Hurdle at 4539 level. Above this level, rally may continue up to 4559-4561 zone by non-stop.
Sell if touches 4603-4605 zone. Stop Loss at 4647-4649 zone.
On Negative Side, break below 4375-4377 zone can create panic up to 4331-4333 zone. If breaks & sustains at this zone then downtrend may continue.Short-Term Investors:
Bullish Trend. 3 closes above 4270 level, it can zoom up to 4830 level by non-stop.
BSE SENSEX:
Lower opening expected. Profit Booking should start.
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.
Already SL triggered. Technically short covering should continue up to 16157 level.
POSITIONAL
Sell RELIANCE INDS (NSE Cash)
Lower opening expected. Selling may continue.
If crosses 2197 level, then traders can expect short covering up to 2263 level.
Sell SUZLON ENERGY (NSE Cash)
Lower opening expected. Profit booking may start.
If crosses 123 level, then traders can expect further buying up to 127 level.
Sell ICICI BANK (NSE Cash)
Lower opening expected. Selling may continue.
If crosses 753 level, then traders can expect short covering up to 775 level.
Sell FIRSTSOURCE SOLUTIONS FUTURES (NSE)
Lower opening expected. Profit booking may start.
Below 26 level, expect free fall too. If crosses 29 level, then traders can expect further buying.
Sell INDUSIND BANK FUTURES (NSE)
Lower opening expected. Profit booking may start.
If crosses 84 level, then traders can expect further buying up to 86 level.
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.
Already SL triggered. Technically short covering should continue up to 16157 level.
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 | 16-Jun-2009 | 2050.76 | 2779.27 | -728.51 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 16-Jun-2009 | 1351.9 | 1206.78 | 145.12 |
SPOT LEVELS TODAY
 | 4517.80 | ( 0.75 %) | 33.80 |  |
| 1 | 2 | 3 | ||
| Resistance | 4568.52 | 4619.23 | 4700.52 | |
| Support | 4436.52 | 4355.23 | 4304.52 | |
 | 14957.91 | ( 0.55 %) | 82.39 | | |
| 1 | 2 | 3 | |||
| Resistance | 15112.74 | 15267.58 | 15512.96 | ||
| Support | 14712.52 | 14467.14 | 14312.30 | ||
Global Cues & Rupee
The Dow Jones Industrial Average closed at 8,504.67. Down by 107.46 points.
The Broader S&P 500 closed at 911.97. Down by 11.75 points.
The Nasdaq Composite Index closed at 1,796.18. Down by 20.20 points.
The partially convertible rupee <INR=IN> closed at 47.75/76 per dollar on yesterday, weaker than its previous close of 47.72/73.
DELIVERY PICK
Sintex Industries: Constructive Play
Sintex, a diversified player caters to infrstructure and allied segments, plastics and textiles. The corporate is set to become a major player in the global plastics industry given its inorganic growth in the composites segment and addition of new products to the pre-fab plastics segment.
The building products segment is likely to witness robust growth driven by monolithic construction, which is increasingly gathering acceptance in low-cost housing and slum rehab projects.
The textiles segment is also expected to witness stable growth coupled with improvement in margins. Given increased stress on infrastructure, Sintex is going to be a major beneficiary, and at 8 times FY11 estimated earnings the stock is a value buy.
(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
