Market Outlook 24th Dec 2009

Intraday calls for 24th Dec 2009
+ve sector and script : Suzlon,Voltas,Idea, Hindalco

Buy AuroPharma-911 for 925-930 with sl 905
Buy Tatasteel-604 for 619-625 with sl 599
Buy ROLTA-190 for 194-196 with sl 187

Buy INDIANB-176 for 187 with sl 172 [positional]
Buy DCHL-167 @ 165-163 for 188 with sl 157 [positional] 

 

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Strong Futures
This is list of 10 Strong Futures:

Sail Ltd, Suzlon, Hindalco, Praj Industry, DCHL, Tata Steel, NTPC, PTC, Ranbaxy & HCL Tech.
Weak Futures
This is the list of 10 Weak Futures:

Andhra Bank, Corporation Bank, FSL, Pir Health, Tata Comm, Ashok Ley, Balrampur Chini, IDFC, Great Offshore & Hind Uni Lvr
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Daily trend of the market is down
We witnessed a sharp upward movement but as market is still in downtrend so it is advisable that the readers who have quit their long positions in nifty on 16th December may now stay out of the market and do not buy till nifty remains in downtrend
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Merry Christmas.
NIFTY FUTURES (F & O):  
Rally may continue up to 5172 level for time being.

Support at 5110 & 5147 levels. Below these levels, expect profit booking up to 5044-5046 zone and thereafter slide may continue up to 4981-4983 zone by non-stop.

Below 4875-4877 zone, expect panic up to 4812-4814 zone by non-stop.

On Positive Side, cross above 5235-5237 zone can take it up to 5299-5301 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.
 
Equity: 
 ICICI BANK (NSE Cash)

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

Will face resistance at 871 & 876 levels on upper side. Above 891 level, it can zoom up to 902-904 zone by non-stop.

Support at 854 level. Below this level, expect profit booking up to unbelievable level of 838 level. Keep a Stop Loss at 828 level and buy. Stop Loss is too far on down side.
 
 
STERLITE INDS (I) (NSE Cash)

Explosive. Negative Factor is that Stop Loss is too far on down side. 
 
Rally may continue up to 856 level for time being. Above 864 level, expect a jump up to unbelievable target of 891-893 zone.

Support at 839 level. Below this level, there is a chance of profit booking up to unbelievable levels of 815 & 823 levels also possible. Keep a Stop Loss at 809 level and buy. Stop Loss is too far on down side.
 
 
SHR RENUKA SUGARS (NSE Cash)

Explosive. It will Zoom.
 

Above 223 level, expect a unbelievable target of 229-231 zone by non-stop.

Support at 219 level. Keep a Stop Loss at 215-217 zone and buy.
 
 BSE SENSEX:

Technical: Uptrend should continue (As per 18.12.2009 to 23.12.2009 levels).

 

If this rally continues, then it may touch 17926.40-17928.40 zone on (or) before 31.12.2009.

Remember that, you have a down side risk up to 16577.78-16579.78 zone & this zone should not be allowed to break & close.
 
 
INCAP LTD (BSE Cash & BSE Code:517370)

Explosive Stock. 

Expect a Target of 18.08-18.10 zone on (or) before 31.12.2009. 

Risk: Loss of Rs.2.79 from the yesterday's closing price. Because, Stop Loss is at 12.30-12.32 zone.
 
 
BIRLA ERICSSON (BSE Cash & BSE Code:500060)

Explosive Stock. 

Expect a Target of 21.99-22.01 zone on (or) before 31.12.2009.

Risk: Loss of Rs.2.83 from the yesterday's closing price. Because, Stop Loss is at 13.50-13.52 zone.
 
OPTIONS (NSE):
 
NIFTY 5000 CALL OPTION

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

Down side risk up to 148 level also possible. Will try to zoom 181 & 194 levels on upper side. If crosses & sustains these levels then expect a jump up to 293-295 zone by non-stop. Unbelievable too.

Below 53 & 58 levels, expect unwinding up to 47 level. Keep a Stop Loss at this level and buy. Stop Loss is too far on down side.
 
 
TATASTEEL 580 CALL OPTION

Explosive. It will zoom.
 

Hurdles at 29 & 33 levels. Above 41 level, expect a jump up to 47-49 zone by non-stop.

Below 24 level, expect unwinding up to 12 level & Unbelievable too. Keep a Stop Loss at 10 level and buy. Stop Loss is too far on down side.
 
STOCK FUTURES (NSE): 
 RELIANCE INDS FUTURES

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

Above 1080 level, expect a unbelievable rally up to 1108 & 1120 levels. Cross above 1131 level, it can further jump up to unbelievable target of 1168-1170 zone by non-stop.

Support at 1059 level. Below this level, it can slip up to unbelievable target of 1032 level. Keep a Stop Loss at 1021-1023 zone and buy. Stop Loss is too far on down side.
 
INVESTMENT BUY:  
ELECTRO STEEL CA (NSE Cash)
 

Good looking scrip for 1 Month Holding. Target at 64.70-66.70 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	23-Dec-2009	1922.85	1153.32	769.53

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	23-Dec-2009	1411.14	1398.12	13.02

 

 SPOT INDEX LEVELS

	5144.60	( 3.18 %)	158.75
		1	2	3
Resistance		5200.12	5255.63	5360.67
Support		5039.57	4934.53	4879.02

	17231.11		( 3.23 %)	539.11
			1	2	3
Resistance			17414.15	17597.18	17942.28
Support			16886.02	16540.92	16357.89

--
Arvind Parekh
+ 91 98432 32381