Market Outlook 29th Dec 2009

Intraday calls for 29th Dec 2009

+ve sector and script : Titan, Abirnanuvo, SRTransfin, PSL

 Buy ERAInfra-207 for 214-216 with sl 203

Buy Escorts-124 for 134 with sl 120

Buy Cromptgreav-421 for 434-443 with sl 417

Expected Breakout

Buy HeroHonda-1735 above 1745 for 1777-88 with sl 1735

Buy Bhusansteel-1430 above 1445 for 1460-65 with sl 1435

Positional

Buy AIAEng-354 for 400-413 with sl 330

Buy GSFC-184 for 212 with sl 180

Breakout

Buy Birnalanuvo-910 for 989-1000 with sl 880 [closing basis]

Buy Bomdyeing-405 for 424-460 with sl 388 [closing basis]

 

 

NIFTY FUTURE LEVELS
RESISTANCE
5210
5233
5237
5259
5285
SUPPORT
5160
5134
5112
5084

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

Sail Ltd, Hindalco, GT Offshore, Tata Motors, Suzlon, DCHL, Tata Steel, Praj Industry, Sesa Goa & HCC. 

And this is list of 10 Weak futures:

Balrampur Chini, Corporation Bank, JP Associates, Andhra Bank, FSL, Pir Health, DCB, Tata Comm, Unitech & Lic house. 
Nifty is in Down trend  

 

NIFTY FUTURES (F & O): 
Above 5210 level, rally may continue up to 5233 & 5237 levels by non-stop.

Support at 5160 level. Below this level, expect profit booking up to 5134-5136 zone.

Below 5112 level, panic may continue up to 5084-5086 zone by non-stop.

On Positive Side, cross above 5259 level can take it up to 5283-5285 zone. 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:
TATA STEEL (NSE Cash)
 

Recommendation:

 Explosive scrip and it will zoom. Negative Factor is that, Stop Loss is too far on down side.
 

Above 608 & 609 levels, it can zoom up to 618 & 622 levels and thereafter expect a jump up to 629 level.

Stop Loss can be kept at 598-600 zone and too far on down side.

On Positive Side, cross above 636 level traders can expect further rally up to 639-641 zone.
 
 
BHARTI AIRTEL (NSE Cash)

Recommendation:

 Sell this scrip. Negative factor is that Stop Loss is too far on upper side.
 

Below 324 level, selling may continue up to 316-318 zone and thereafter it can tumble up to 307-309 zone by non-stop.

Stop Loss at 329-331 zone & too far on upper side.
 
 
JET AIRWAYS (NSE Cash)

Recommendation: 

No trigger as per my calculations. Side ways trend expected with positive bias.
 

Below 550 level, expect profit booking up to 541-543 zone and technically rebound should happen.

Hurdle at 561 level. Above this level, rally may continue up to 568-570 zone by non-stop.
 
 
NILKAMAL (NSE Cash):

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

GREAT OFFSHORE (NSE Cash): 

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

ITI LTD (NSE Cash): 

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

HIND CONSTRUCTION CO (NSE Cash): 

Explosive & will try to zoom.
 
 
IDEA CELLULAR (NSE Cash): 

Fall may continue as per Technicals.

JAIPRAKASH ASSOC (NSE Cash): 

No trigger as per my calculations. Bears will get trapped at lower levels.
 
 
VAKRANGEE SOFTWA (BSE Cash & BSE Code: 511431)

Explosive Stock.

Expect a Target of 76.55-76.75 zone on (or) before 31.12.2009.

Risk: Loss of Rs.6.50 from the Thursday's closing price. Because, Stop Loss is at 63.05-63.25 zone.
 

OPTIONS (NSE):  
NIFTY 5100 CALL OPTION

Recommendation: 

No trigger as per my calculations. Side ways trend expected with positive bias.
 

If rally continues, then it may continue up to 114-116 zone (or) up to 121 level.

If breaks & sustains below 93 level, then expect profit booking up to 85 level and thereafter expect panic up to 73 & 76 levels by non-stop.

Buying can be done at lower levels with a Stop Loss at 67-69 zone. Stop Loss is too far on down side.

On Positive Side, cross above 128 level can take it up to 132-134 zone by non-stop.
 
 
RELIANCE 1065 CALL OPTION

Recommendation:

No trigger as per my calculations. Side ways trend expected with positive bias.
 

If rally continues, then it may continue up to 21 level.

Support at 17 & 18 levels. Buying can be done with a Stop Loss of 13 level.

On Positive Side, cross above 24 level can take it up to 26-28 zone by non-stop.

 

 
STOCK FUTURES (NSE): 
 DLF FUTURES

Recommendation: 

No trigger as per my calculations. Side ways trend expected with positive bias.
 

Profit Booking up to 368 level will be healthy. If not breaking 366 level then expect rebound too.

Hurdle at 375 level. Above this level, rally may continue up to 379 level by non-stop.
 
INVESTMENT BUY:  
HOTEL LEELA VENT (NSE Cash)

Good looking scrip for 1 Month Holding. Target at 60.30-62.30 zone.

Negative Factors:

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

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

 

SPOT INDEX LEVELS

	5178.40	( 0.66 %)	33.80
		1	2	3
Resistance		5207.85	5237.30	5276.70
Support		5139.00	5099.60	5070.15

	17360.61		( 0.75 %)	129.50
			1	2	3
Resistance			17450.17	17539.73	17665.77
Support			17234.57	17108.53	17018.97

 

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	24-Dec-2009	1537.81	830.98	706.83

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	24-Dec-2009	1197.37	1308.48	-111.11

 

RIL - CNBC-TV18 Exclusive: Sources
-RIL (Reliance Industries) updates non binding proposal for LB (LyondellBasells)
-RIL updated proposal has higher cash component;
-Offers cash of $ 5-6 billion versus previous cash offer was for approximately $ 2 billion

Reliance Power: Rose update
-Reliance Power's 1200 MW Rosa Project commences generation
-Stage I: 600 MW power to be supplied to UP, project investment at Rs 6,000 crore
-Stage II: 600 MW expansion underway

 Iron Ore export duty
-Government doubles export duty on Iron Ore Lumps
-Export duty on Iron Ore Lumps hiked to 10% (from 5%)
-5% export duty imposed on Iron Ore Fines versus nil
-Steel Ministry wants 10% export duty on all grades 

 stocks that are in news today:
-Goldman to pick up 9.4% stake in Max India for Rs 540 crore via subscribing to compulsory convertible debentures which will be converted into shares in 15 months
-Advertisers may have to pay 10-15% premium to DTH from January, premium may go up later – BS
-UTV, Sun TV in talks for a Tamil movie channel – BS
-Maruti expects December sales to jump 30% - BS
-3G winners may have to pay bid amount upfront, to get spectrum only in August – BL
-Ranbaxy arm gets FDA warning, USFDA warning to Ohm Lab for manufacturing norm violation
-Board meets today - Zee Entertainment & ETC Networks on detailed composite Scheme of amalgamation
-Aban Offshore still in NSE F&O curb

--
Arvind Parekh
+ 91 98432 32381