Market Outlook 16th Dec 2009

Intraday calls for 16th Dec 2009
+ve Sector, Script : Birlacorp, Gail, GTL, NTPC
Buy ABB-752 above 755 for 767-781 with sl 745
Buy Maruthi-1578 above 1585 for 1607-1610 with sl 1575
Buy CromptGreav-405 for 415-418 with sl 400
Buy Bajajhind-210 above 212 for 216-218 with sl 209

Positional
Buy Dr.Reddy-1123 for 1161 with sl 1110
Buy GVKPIL-47 for 51 with sl 45[Closing basis]

 

NIFTY FUTURE LEVELS

5005

4965

4924

RESISTANCE

5041

5054

5097

5137

5177

5218

COX&KING;WIPRO;SESAGOA;ITC;NTPC;PATNI;EDSERVE

 

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

Orchid Chem, Ranbaxy, Bajaj Auto, Cipla, BEL, GTL Infra, ACC, Hotel Leela, Sail Ltd & Hind Zinc. 

And this is list of 10 Weak futures:

Orient Bank, Tata Comm, Andhra Bank, IDFC, Allahabad Bank, Aban Off shore, IOB, Nagarjuna Const, Ivrcl Infra & Corporation Bank.
Nifty is in Down trend  

 

NIFTY FUTURES (F & O):  
Selling may continue up to 5005-5007 zone by non-stop.

Hurdles at 5041 & 5054 levels. Above these levels, expect short covering up to 5095-5097 zone and thereafter expect a jump up to 5135-5137 zone by non-stop.

Sell if touches 5175-5177 zone. Stop Loss at 5216-5218 zone.

On Negative Side, break below 4965-4967 zone can create panic up to 4924-4926 zone by non-stop. If breaks & sustains this zone then down trend may continue and have caution.
 
Short-Term Investors:
Bullish Trend. Stop Loss at 4801.00.
Up Side Target at 5477.00.
 
BSE SENSEX:
Selling may continue up to 16824-16826 zone by non-stop.

Hurdles at 16887 & 16937 levels. Above these levels, expect short covering up to 17074-17076 zone and thereafter expect a jump up to 17210-17212 zone by non-stop.

Sell if touches 17347-17349 zone. Stop Loss at 17484-17486 zone.

On Negative Side, break below 16687-16689 zone can create panic up to 16550-16552 zone by non-stop. If breaks & sustains this zone then down trend may continue and have caution.

 
Short-Term Investors:  
Bullish Trend. Stop Loss at 16210.44.
Up Side Target at 18226.48.
 
 
CNX BANK INDEX (F&O) fallen very heavily in last 3 days.
Before you go short, know the risk & trade.

Down side Target at 8120-8122 zone within 3 days.

Do you know the risk?

Huge risk of 563.65 points from the closing price of yesterday. Stop Loss is at 9298.00-9300.00 zone.
 
Equity: 
 STATE BANK (NSE Cash)

Expect further fall. But Stop Loss is too far on upper side.

Above 2202 level, expect short covering up to 2260 level. Keep a Stop Loss at 2265 level and sell.

Below 2160 & 2175 levels, selling may continue up to 2090 & 2095 levels and thereafter it can tumble up to 2008-2010 zone by non-stop.
 
 
COX & KINGS (I) (NSE Cash)

No trigger & Range bound trading expected.

Above 431 level, rally may continue up to 439 level & thereafter expect a jump up to 450 level by non-stop.

Support at 420 & 423 levels. Below these levels, expect profit booking up to 409 level by non-stop.
 
ABAN OFFSHORE (NSE Cash)

Expect further fall. But Stop Loss is too far on upper side.

Above 1204 level, expect short covering up to 1243 level. Keep a Stop Loss at 1251 level and sell.

Below 1173 & 1180 levels, selling may continue up to 1122 level and thereafter it can tumble up to 1109-1111 zone by non-stop.
 
ITC LTD (NSE Cash)

Explosive. Stop Loss is too far on down side. 

Will zoom up to 253 level and thereafter expect a jump up to 257-259 zone by non-stop.

Down side risk up to 247-249 zone also possible. Stop Loss can be kept at 243 level & too far on down side.

 
Will you take a risk of Rs.11.50? (From Yesterday's closing price).
 

Then Buy SESA GOA (NSE Cash) with a Stop Loss of 359.05-361.05 zone. 

Target at 382.30-384.30 zone.
 
 
Will you take a risk of Rs.21.70? (From Yesterday's closing price). 

Then Buy WIPRO LTD (NSE Cash) with a Stop Loss of 637.40-639.40 zone. 

Target at 678.70-680.70 zone.
 
 
Will you take a risk of Rs.7.40? (From Yesterday's closing price). 

Then Buy NTPC (NSE Cash) with a Stop Loss of 200.95-202.95 zone. 

Target at 213.75-215.75 zone.
 
OPTIONS (NSE): 
ICICIBANK 840 PUT OPTION

Explosive. Stop Loss is too far on down side.

Below 33 level, expect profit booking up to 21 & 22 levels.

Hurdle at 37-39 zone. Above this zone, it can zoom up to 52 level and thereafter expect a jump up to 54-56 zone by non stop.
 
 
NIFTY 5000 PUT OPTION

Explosive. Stop Loss is too far on down side.

Down Side risk up to 87 level also possible. Will zoom up to 107 & 115 levels on upper side. If crosses & sustains at above these levels then it can zoom up to 139 level and thereafter expect a jump up to 145-147 zone by non-stop.

Below 73 level, expect profit booking up to 61 level. Stop Loss can be kept at around this level & Stop Loss is too far on down side.
 
STOCK FUTURES (NSE):  
DLF FUTURES 

Weak scrip. Expect further fall.

Short rallies up to 384 & 385 levels can be used to sell. Stop Loss at 387 level.

Below 374-376 zone, selling may continue up to 370 level and thereafter it can tumble up to 365-367 zone by non-stop.
 
 
TATA MOTORS FUTURES 

Expect further fall. But Stop Loss is too far on upper side.

Above 695 level, expect short covering up to 710 level. Keep a Stop Loss at 716 level and sell.

Below 685 level, selling may continue up to 679-681 zone and thereafter it can tumble up to

653-655 zone by non-stop.
 
INVESTMENT BUYS: .
PATNI COMPUTER SYSTEMS (NSE Cash)

Good looking scrip for 1 Month Holding. Target at 517.60 level (or) even up to 540.55-542.55 zone.

Negative Factors:

1 Day: Choppy Trading expected & will rebound from lower levels.

1 Week: Choppy Trading expected & will rebound from lower levels.
 
 
EDSERV SOFTSYSTEMS (NSE Cash)

Good looking scrip for 3 Month's Holding. Target at 355.70 level (or) even up to 383.25-385.25 zone.

Negative Factors:

1 Day: Choppy Trading expected & will rebound from lower levels.

1 Week: Choppy Trading expected & will rebound from lower levels.

1 Month: Choppy Trading expected & will rebound from lower levels.
 

 

SPOT INDEX LEVELS

	5033.05	( -1.42 %)	-72.65
		1	2	3
Resistance		5102.25	5171.45	5213.45
Support		4991.05	4949.05	4879.85

	16877.16		( -1.29 %)	-220.39
			1	2	3
Resistance			17106.49	17335.83	17471.18
Support			16741.80	16606.45	16377.11

FUNDS DATA

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
FII	15-Dec-2009	2259.23	2265.37	-6.14

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	15-Dec-2009	1273.19	1234.5	38.69

 

 

Bhushan Steel: From NewsWire18
-May tie up with Japanese company for India Steel Project: Sources
-May announce alliance with Japanese company on Wednesday

_Reliance Calls: stocks that are in news today:
-Orchid Chemical to sell generic injectable finished dosage from pharma business to Hospira for $400 million
-DLF board approved integration between DLF Cyber City and Caraf Builders in 60:40 ratio
-Shree Cements advance tax at Rs 31 crore versus Rs 40.5 crore
-Bharati Shipyard says LIC sells 2.14% stake in company
-Kingfisher still in NSE F&O curb
-PSU Bank employees on 1-day strike today against consolidation
-Tata Steel update: Corus announces €35 million investment in French steel mill after securing rail contract
-FIIs can buy shares of Union Bank as FII investment falls below prescribed limit
-Kalindee Rail board meet on December 22 for issuance of convertible warrants to promoters
-Uttam Galva open offer opens on December 19, closes on January 7
--
Arvind Parekh
+ 91 98432 32381