Market Outlook 22nd Dec 2009

Intraday calls for 22nd Dec 2009

Buy NBVenture-398 for 412-415 with sl 393

Buy Dr.Reddy-1222 for 1254 with sl 1215

Buy AxisBank-954 for 963-975 with sl 949

Buy BOB-500 for 512-518 with sl 495

 

 

NIFTY FUTURE LEVELS
RESISTANCE
4962
4986
5008
5029
5051
SUPPORT
4939
4925
4903
4881

 

Strong & Weak  futures  

This is list of 10 strong futures:

Dr Reddy, Ranbaxy, Lupin, Uniphos, Tata Motors, Gtl Ltd, TCS, ACC, Pantaloon Retail & Divi'S Lab.  

And this is list of 10 Weak futures:

Andhra Bank, IDFC, Unitech, Aban Off shore, Balrampur Chini, Great Offshore, DLF, Lic house, Orchid Chem & Bank Of India.

Nifty is in Down trend  

 

NIFTY FUTURES (F & O):
 
Above 4962 level, expect short covering up to 4984-4986 zone and thereafter expect a jump up to 5006-5008 zone by non-stop.

Support at 4939 & 4947 levels. Below these levels, selling may continue up to 4925-4927 zone by non-stop.

Below 4903-4905 zone, expect panic up to 4881-4883 zone by non-stop.

On Positive Side, cross above 5027-5029 zone can take it up to 5049-5051 zone by non-stop. Supply expected at around this zone and have caution.
 
Short-Term Investors:
 
Bullish Trend. Stop Loss at 4801.00.

Up Side Target at 5477.00.
 
BSE SENSEX:
 
Above 16631 level, expect short covering up to 16696-16698 zone and thereafter expect a jump up to 16761-16763 zone by non-stop.

Support at 16591 level. Below this level, selling may continue up to 16566-16568 zone by non-stop.

Below 16501-16503 zone, expect panic up to 16436-16438 zone by non-stop.

On Positive Side, cross above 16826-16828 zone can take it up to 16891-16893 zone by non-stop. Supply expected at around this zone and have caution.
 
Short-Term Investors:
 
Bullish Trend. Stop Loss at 16210.44.

Up Side Target at 18226.48.
 
Equity:
 
BHARTI AIRTEL (NSE Cash)

Will continue to fall. Negative factor is that, Stop Loss is too far on upper side.
 

Hurdle at 313-315 zone & mild rally up to this zone is possible. Keep a Stop Loss at 318-320 zone and sell. Stop Loss is too far on upper side.

Support at 307 level. Below this level, selling may continue up to 302-304 zone and thereafter it can tumble up to 296-298 zone by non-stop.
 
 
NUCLEUS SOFTWARE (NSE Cash)

No trigger as per my calculations. Bulls will get trapped at higher levels.
 

Will face resistance at 151-153 zone. If crosses & sustains 170 & 173 levels, then expect a jump up to 190-192 zone by non-stop.

Support at 148 level. Below 133 level, expect unwinding up to 129-131 zone.
 
 
IVRCL INFRASTR & PROJECTS (NSE Cash)

Explosive. Negative factor is that, Stop Loss is too far on down side.  
 

Above 352 & 355 levels, rally may continue up to 361 level. Cross above 368 level, expect a jump up to 381-383 zone by non-stop.

Down side risk up to 345 level also possible. If breaks & sustains below this level, then expect profit booking up to 338 level and thereafter it can tumble up to 332-334 zone by non-stop. Keep a Stop Loss at this zone and buy. Stop Loss is too far on down side.
 
 
ORCHID CHEM (NSE Cash)

Will continue to fall. Negative factor is that, Stop Loss is too far on upper side.
 

Above 185 level, expect short covering up to 190 level. Keep a Stop Loss at 194-196 zone and sell. Stop Loss is too far on upper side.

Support at 181 level. Below this level, selling may continue up to 175-177 zone and thereafter it can tumble up to 167-169 zone by non-stop.
 
 
Will you take a risk of Rs.30.80? (From Yesterday's closing price). 

Then Buy ICICI BANK (NSE Cash) with a Stop Loss of 780.10-782.10 zone. 

Target at 837.30-839.30 zone.
 
 
Will you take a risk of Rs.15.35? (From Yesterday's closing price).

Then Sell TATA STEEL (NSE Cash) with a Stop Loss of 569.25-571.25 zone. 

Target at 532.75-534.75 zone.
 
 
Will you take a risk of Rs.28.45? (From Yesterday's closing price). 

Then Buy TCS (NSE Cash) with a Stop Loss of 705.60-707.60 zone. 

Target at 750.60-752.60 zone.
 
OPTIONS (NSE):
 
NIFTY 5000 PUT OPTION

Will continue to gain. Negative factor is that, Stop Loss is too far on down side.
 

Above 105 level, rally may continue up to 116 & 121 levels and thereafter expect a jump up to 131-133 zone by non-stop.

Support at 79 & 86 levels. Below these levels, expect profit booking up to 70 level and thereafter it can tumble up to 62-64 zone by non-stop. Keep a Stop Loss at this zone and buy. Stop Loss is too far on down side.
 
 
RELIANCE 1020 PUT OPTION

Bulls will lose control. But down side will be limited.
 

Above 24 level, expect short covering up to 31 level and thereafter expect a jump up to 36 level by non-stop.

Support at 20 level. Below this level, expect unwinding up to 16 level by non-stop.
 
STOCK FUTURES (NSE):
 
RELIANCE CAPITAL FUTURES 

Fall may continue. Negative factor is that, Stop Loss is too far on upper side.
 

Hurdle at 812 level. Selling can be done with a Stop Loss of 819-821 zone. Stop Loss is too far on upper side.

Fall may continue up to 795 level on down side. Below 789 & 792 levels, expect panic up to 779-781 zone by non-stop.
 
 
EDUCOMP SOLUTIONS FUTURES

Fall may continue. Negative factor is that, Stop Loss is too far on upper side.
 

Hurdles at 705 & 710 levels. Selling can be done with a Stop Loss of 713-715 zone.

Fall may continue up to 691 level on down side. If breaks & sustains 685-687 zone, then it can tumble up to 676-678 zone by non-stop.
 
INVESTMENT BUYS:
 
PRAJ INDS (NSE Cash)

Good looking scrip for 1 Month Holding. Target at 105.70-107.70 zone.

Negative Factors:

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

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

Good looking scrip for 1 Month Holding. Target at 124.75-126.75 zone.

Negative Factors:

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

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

 

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	21-Dec-2009	1836.24	2128.18	-291.94

 

 

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	21-Dec-2009	1180.71	826.88	353.83

 

 

--

Arvind Parekh

+ 91 98432 32381