index sl hit

NIFTY FUT: SL triggered.

Unwinding should continue up to 4401.30-4403.30 zone. Rallies up to 4437.60 can be used to exit. SL at 4484.75-4486.75 zone.

only positional traders

REMAIN SHORT IN RCOM FOR A TARGET OF 410,405.MARKET IS WEAK TILL NIFTY IS TRADING BELOW 4490,SO AT HIGHER LEVELS,SHORT AGAIN FOR A TARGET OF 4380,4330.
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BUY CASH MARKET

Cash Market: HDFCBANK (NSE Cash CMP 1218.65) looks good. Expect small downside now and thereafter it will start move up.

only positional traders

IF RELIANCE TRADES BELOW 2250,CARRY RELIANCE SHORTS FOR A TARGET OF 2220,2170.

SHORT RCAP BELOW 1305,TGT 1270,1250.SHORT SBI FOR A TGT OF 1435,1400.
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ONLY POSITIONAL TRADERS

hold your shorts as of now, book partial profits in ONGC

BUY INDEX

NIFTY FUT: Buy with a Stop Loss of 4413.60 level. Target at 4484.75-4486.75 zone.

BUY IT STOCKS

Cash Market Intra-Day: Buy SATYAMCOMP (NSE CMP 424.60). Stop Loss at 417.80. Target at 431.15.

OUTLOOK FOR TODAY 18thy aug 2008

NIFTY FUTURES (F & O)

Hurdle at 4460 level. Above this level

, expect relief rally up to 4497-4499 zone by non-stop.

Support at 4416 & 4427 levels.

Do remember that, bulls need to protect 4377-4379 zone on down side. If not, then fall may continue.

On Positive Side, rallies up to 4534-4536

zone can be used to sell. Stop Loss is too far on upper side and can be placed at 4620-4622 zone.

Short-Term Investors:

Short-Term Upward Target at 4657-4659 zone.

Short-Term Support at at 4340-4342 zone.

---------

Headlines for the day

    Corporate News Headline
    BHEL is planning to investment of over Rs. 100 bn in the next four years to ramp up capacity to meeting the growing electricity needs. (ET)
    Sun Pharmaceuticals got the US Federal Trade Commission approval for the open offer made by it to shareholders of Israeli firm Taro. (BS)
    Idea Cellular deferred its open offer for an additional 20% stake in Spice Communications following a delay in approval for the same from the market regulator SEBI. (ET)
 Economic and Political Headline
    Inflation soared to a fresh 13-year high of 12.44% for the week ended August 2, on the back of rising food and fuel prices. (ET)
    The Finance Minister said that India would meet its fiscal deficit target for 2008/09 despite the pay increase for government workers. (ET)
    The US inflation soared to 5.6% from a year earlier in July, led by gains in food, energy, airline fares and apparel. (WSJ)

 

MPHASIS (NSE Cash): Likely to Zoom.

If crosses & sustains at above 236 level then uptrend may continue.

Support at 216 level. Should not be allowed to break at any cost.

INFOSYS FUTURES (NSE): Likely to Zoom.

If crosses & sustains at above 1791 level then uptrend may

continue.

Support at 1685 level. Should not be allowed to break at any cost.

--------

The Dow Jones Industrial Average closed at 11,659.90. Up by 43.97 points.

The Broader S&P 500 closed at 1,298.20. Up by 5.26 points.

The Nasdaq Composite Index closed at 2,452.52. Down by 1.15 points.

The partially convertible rupee ended at 43.01/02 per dollar on Thursday, weaker

than Wednesday's close of 42.65/66.

--------

Avoid Short Selling in PSU INDEX Stocks

-----

Strong & Weak futures

This is list of 10 Strong Future Stocks:

Polaris, AIA Eng,Aptech Training, Cummins, India Infoline, Triveni, Kpit, Strides Arco, Ansal Infra and Gail.

And this is the list of 10 Weak stocks

; NDTV,Bombay Dyeing,Amtek auto, HDIL, Aban, Rcom, Sterlig Bio, IDFC ,S Kumars and Hindalco.

-----

 

comodity update

KEEP A STRICT STOPLOSS OF 803$ ON GOLD.KEEP A STOPLOSS OF 20300 ON SILVER.

ACCUMULATE CRUDE ON DIPS.
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commodity market update

BUYBACK YOUR GOLD AGAIN FOR A TARGET OF 840,850$.BUY SILVER AGAIN FOR A TARGET OF 21300,21500.
BUY CRUDE AGAIN TGT 117,119$.
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only positional traders

YOU HAVE TO HOLD REST OF YOUR SHORTS FOR MONDAY AND ALSO CARRY TODAY'S SHORTS AND NIFTY 4500 PUTS FOR MONDAY.
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Headlines for the day

    Corporate News Headline
    Jaiprakash Associates signed four MOUs with Madhya Pradesh Government to invest Rs. 130 bn for setting up two cement manufacturing units. (ET)
    Tata Steel, Vietnam Steel Corporation, and Vietnam Cement Industries Corporation signed a joint venture agreement for the proposed USD 5 bn steel project in Vietnam. (BS)
    Reliance Industries entered into a 50-50 partnership with US-based real estate investment trust Vornado to collectively invest USD 500 mn in a shopping mall joint venture. (BS)

    Economic and Political Headline
    The Finance Minister said that the economy would grow close to 8% this fiscal, although the Prime Minister´s Economic Advisory Council saw GDP expansion slowing to 7.7%. (BS)
    Mirroring a slowdown in the global markets the merger and acquisition spree of corporate India has been dampened registering a decline of as much as USD 27 bn so far this year. (BS)
    The US retail sales declined 0.1% in July for the first time in five months, but the dip was smaller than expected and was driven by sagging demand for motor vehicles. (WSJ)

only positional traders

NIFTY TARGETS BY NEXT WEEK ARE 4380,4330.NIFTY 4500 PUT TARGETS ARE 150,180.

BOOK FULL PROFIT IN ICICI AND KEEP 50% SBI SHORTS OPEN.

HOLD OTHER SHORTS.
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SELL JPASSOCIATES

Execution Risks loom large on Road Builders like JAIPRAKASH ASSOCIATES as can be seen from the refusal of farmers to let go of farm land for the Taj Expressway. These risks will become even larger with the Rs 40,000 crore Ganga Expressway.Macquarie has put a sell on the stock.

sell if downtrend

NIFTY FUT: If downtrend continues then it will fall up to 4430.60-4432.60 zone. Rallies up to 4475.45 can be used to sell. SL at 4517.25 level.

buy IT

Cash Market: Watch SATYAMCOMP (NSE Cash CMP 412.70). Buying can be done with a Stop Loss of 405.00. Target at 423.70.

only positional traders

BOOK PROFIT IN SAIL,SUZLON.

CARRALL OTHER SHORTS.BOOK 30% PROFITS IN YOUR NIFTY 4500 PUTS.

NIFTY TARGETS 4420,4380[POSITIONAL]
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only positional traders

BOOK 50% PROFITS IN ICICI BANK,REST HOLD YOUR OLD SHORTS.BOOK PROFIT IN BANKINDIA.
SHORT RCOM TGT 425,415.SHORT ITC TGT 186,182.SHORT MCDOWELL TGT 1360,1330.
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NIFTY SELL

NIFTY FUT: Sell with a Stop Loss of 4517.25 level. Target at 4461.90-4463.90 zone.

OUTLOOK FOR THE DAY

NIFTY FUTURES (F & O)

Support at 4537 level. Below this level, selling may continue up to 4504-4506 zone by non-stop.

Hurdle at 4561 level. If crosses then expect short covering up to 4567-4569 zone and thereafter it may touch 4578 level.

Sell if touches 4599-4601 zone.

Stop Loss at 4609-4611 zone.

On Negative side, break below 4472-4474 zone can create panic selling up to 4462-4464

zone and thereafter free fall may start.

Short-Term Investors:

Reversal (Negative) is seen. Exit on Rallies.

Short-Term Upward Target at 4641-4643 zone.

Short-Term Support at at 4431-4433 zone.

---Bears started dominating. But it looks like that it may be false signal also. Expectation is that 50:50 chance for both Bulls & Bears today.-

 

 

SUBEX AZURE (NSE Cash): Avoid Short Selling in this scrip.

Support at 95 level. Expected to rebound at around this level. If not, then problem for bulls too.

Hurdle at 105 level. Supply expected at around this level. This supply should get absorbed too.

CMC FUTURES (NSE): Likely to go down.

If breaks & sustains at below 513 level then downtrend may start and have caution.

Hurdle at 570 level. Supply expected at around this level. This supply should get absorbed too

---

The Dow Jones Industrial Average closed at 11,532.96. Down by 109.51 points.

The Broader S&P 500 closed at 1,285.83. Down by 3.76 points.

The Nasdaq Composite Index closed at 2,428.62. Down by 1.99 points.

The partially convertible rupee <INR=IN> ended at 42.65/66 per dollar on yesterday, weaker than 42.37/38 at close on Tuesday.

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