Tuesday, February 23, 2010

Market Outlook 23rd Feb 2010

NSE Nifty Index   4856.40 ( 0.24 %) 11.50       
  1 2 3
Resistance 4897.00 4937.60   4963.15  
Support 4830.85 4805.30 4764.70

BSE Sensex  16237.05 ( 0.28 %) 45.42     
  1 2 3
Resistance 16376.41 16515.78 16608.32
Support 16144.50 16051.96 15912.59 


Strong & Weak Stocks
This is list of 10 strong stocks
Glaxo, Axis Bank, Titan, Educomp, Siemens, Hero Honda, Indusind Bank, Chennai Petro, Hdfc Bank & McDowell-N.  
And this is list of 10 Weak stocks
Bajaj Hind, DLF, Balrampur Chini, ICSA, HDIL, Suzlon, FSL, Praj Ind, Bharti Airtel & EKC.
Nifty is in Up trend  

NIFTY FUTURES (F & O):
Profit Booking up to 4837-4839 zone will be healthy. 
Hurdles at 4867 & 4876 levels. Above these levels, buying may continue up to 4884-4886 zone and thereafter expect a jump up to 4910-4912 zone by non-stop. 
Cross above 4952-4954 zone, can take it up to 4978-4980 zone by non-stop. Supply expected at around this zone and have caution. 
On Negative Side, rebound expected at around 4794-4796 zone. Stop Loss at 4769-4771 zone.

Short-Term Investors:
 Bearish Trend. 
Down Side Target at 4666.80. 
Stop Loss at 4927.90.

Equity:
RELIANCE (NSE Cash) 
Fallen yesterday. But Bears should have been dominated more. Below expectations. Selling may continue today also. 
Sell for Intra-Day Gains with a Target of 938 level. 
Stop Loss at 1000 level.

UNITECH (NSE Cash) 
Fallen yesterday. But Bears should have been dominated more. Below expectations. Selling may continue today also. 
Sell for Intra-Day Gains with a Target of 63.75 level. 
Stop Loss at 72.25 level.

DLF (NSE Cash) 
Fallen yesterday. But Bears should have been dominated more. Below expectations. Selling may continue today also. 
Sell for Intra-Day Gains with a Target of 265 level. 
Stop Loss at 299 level.

EDSERV (NSE Cash): 
 Bulls may get trapped at higher levels during intra-day trades today. Expect Negative News within 4 days. 

TATACOFFEE (NSE Cash):  
Bulls may get trapped at higher levels during intra-day trades today. Expect Positive News within 3 days. 

MINDTREE (NSE Cash):  
Bulls may get trapped at higher levels during intra-day trades today. Expect Positive News within 2 days. 

JKTYRE (NSE Cash): 
 Bulls may get trapped at higher levels during intra-day trades today. Expect Positive News within 3 days. 

CANBK (NSE Cash):  
Bulls may get trapped at higher levels during intra-day trades today. Expect Positive News within 3 days.

OPTIONS (NSE):
NIFTY 4900  CALL OPTION 
Good recovery & could not able to hold on gains. No Clear Trend for Today. 
If rally continues, then rally may be capped upside at around 54 level. 
Support at 13 level. If profit booking starts, then it can slide up to this level.

TATASTEEL 560 CALL OPTION 
Fantastic move by Bulls. Uptrend should continue. 

If rally continues, then rally may be capped upside at around 34 level. 
Support at 5 level. If profit booking starts, then it can slide up to this level. 

STOCK FUTURES (NSE):
DENABANK FUTURES  
Bears should have been dominated. Instead, Bulls dominated & they have beaten expectations also. Superb Performance by Bulls. Uptrend should continue today also. 
 Buy with a Stop Loss of 77.25 level for Intra-Day Gains. Target at 82.05 level.

HINDALCO FUTURES  
 Bulls tried their best yesterday. But their performance was below expectations. Bulls should not get excited today. But they will rig up on (or) before expiry. 
 Buy with a Stop Loss of 144 level with a Target of 157 level. Up side limited up to 161 level on (or) before expiry. 
Stop Loss up to expiry should be at around 141 level.

Disclosure: I don't have any positions in the above said scrips & NIFTY FUTURES.
Disclaimer:
"I do not make any warranties, express or implied, as to results to be obtained from using the information in this e-letter.  Investors should obtain individual financial advice based on their own particular circumstances before making any investment decisions based upon information in this report."
--
Arvind Parekh
+ 91 98432 32381