Positional traders
WE HAVE BEEN SHORTING FROM 4390 AGAIN. CARRY 80% SHORTS FOR TOMMOROW. NIFTY TARGETS 4160,4110. OTHERS STOCKS TARGETS WILL ALSO BE REVISED DOWNWARDS.
NIFTY FUT: If downtrend continues then it will fall up to 4205.05-4207.05 zone. Rallies up to 4271.70 can be used to sell. SL at 4293.05 level.
POSITIONAL TRADERS
SHORT MORE OF SAME STOCKS AND BUY MORE PUTS NEAR 4300-4330 LEVELS.
IF RELIANCE TRADES BELOW 2130,TGT 2100,2075. ELSE CARRY ALL OLD SHORTS FOR TOMMOROW.
POSITIONAL TRADERS
AVERAGE YOUR EDUCOMP SHORTS IF TRADES BELOW 3500.
HOLD ALL OTHER SHORTS/NIFTY PUTS.
SHORT ITC FOR A TARGET OF 178,174.REST CARRY ALL SHORTS.
NIFTY FUT: Sell with a Stop Loss of 4293.05 level. Target at 4237.05-4239.05 zone.
Cash Market Intra-Day: FSL (NSE Cash CMP 44.50) going up. Sentiment is weak and take a risk and sell. Stop Loss at 45.50 level.
Cash Market Intra-Day: RNRL (NSE Cash CMP 92.95) going up. Buy with a Stop Loss of 91.95 level.
NIFTY FUTURES (F & O) Above 4312 level, expect short covering up to 4344-4346 zone and thereafter expect a jump up to 4376-4378 zone by non-stop.
Support at 4281 level.
Buy if touches 4269-4271 zone. Stop Loss at 4237-4239 zone.
On Positive Side, if crosses & sustains at above 4430-4432 zone then uptrend may continue.
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(Correction: Yesterday we made a mistake by not adding one more resistance zone at 4387.20-4389.20 zone. Error is regretted.)
Short-Term Investors:
Short-Term Upward Target at 4462-4464 zone.
Short-Term Support at at 4205-4207 zone.
HINDALCO INDS (NSE Cash): Likely to Zoom.
Suspicion is that yesterday's movement might be false signal.If crosses & sustains at above 148 level then uptrend may continue.
Support at 131 level. Should not be allowed to break at any cost.
TATA STEEL FUTURES (NSE): Likely to Zoom.
Suspicion is that yesterday's movement might be false signal.If crosses & sustains at above 623 level then uptrend may continue.
Support at 575 level. Should not be allowed to break at any cost.
The Dow Jones Industrial Average closed at 11,502.51. Up by 89.64 points.
The Broader S&P 500 closed at 1,281.66. Up by 10.15 points.
The Nasdaq Composite Index closed at 2,382.46. Up by 20.49 points.
The partially convertible rupee ended at 43.71/72 per dollar on yesterday, stronger
than 43.84/85 at close on Tuesday.
-----Strong & Weak futures
This is list of 10 Strong Future Stocks:
Rolta , Punj lioyd, MPHASIS, HDFC, Crompton, SAIL, Strides, AIA Eng. Edu Solution & Indian Bank.
And this is the list of 10 Weak stocks
;Housing Dev., NDTV, Aban, Amtek Auto, Baongaigaon, Chennai Petrol, Indian Infoline, Suzlon energy, HTMT Glob & Rel Comm.
Nifty is in Down Trend.
---Trading Calls 28th Aug 2008
Counters in the +ve Bajaj-Auto, Aprind, Fortis, Gujfluoro, Mangalam and Nelcast, Brigade, IBN18, NIITECH
Use Strict SL For All Trade
Short Renuka-120 below 119 for 116-114 with sl 120.50
Short Welguj-318 below 315 for 300 with sl 320
Buy Hindzinc-564 for 574 with sl 560
Short IFCI-44.30 below 44 for 42-40 with sl 45
Short ABB-875 below 870 for 857 with sl 880
+ve to Market
1. Us Market 2. Asian Market(mixed) 3. F&O short covering 4. Rs.vs$
-ve to Market
1. Profit Booking 2. Inflation worries 3. continuous FII selling.
--
Arvind Parekh
+ 91 98432 32381
