Headlines for the day
Corporate News Headline
Tata Chemicals' US-based subsidiary has raised USD 300 mn by way of syndicate funding to repay loan taken to acquire a firm in the US. (ET)
BHEL bagged a contract worth Rs. 2.4 bn from Coastal Gujarat Power, a Tata Power company. (BS)
TATA Steel will continue with its Rs. 270 bn plan to expand capacity at Jamshedpur and build a new plant at Orissa. (ET)
With inflation declining to single digit level, Finance Minister P Chidambaram said that interest rates may soften further and also made a case for revisiting reforms to make the economy more competitive. (BS)
The government is planning to set up a special dedicated fund of around Rs. 500 bn to provide loans to infrastructure projects — roads, airports, power plants or ports — being developed by private companies as well as by government-private joint ventures. (BS)
The US government entered into an agreement with Citigroup to provide a package of guarantees of USD 306 bn and to inject USD 20 bn of capital, bolstering the stock after its 60% plunge last week. (Bloomberg)
 | 2708.25 | ( 0.55 %) | 14.80 |  |
| 1 | 2 | 3 | ||
| Resistance | 2754.47 | 2800.68 | 2861.02 | |
| Support | 2647.92 | 2587.58 | 2541.37 | |
 | 8903.12 | ( -0.14 %) | -12.09 |  | |
| 1 | 2 | 3 | |||
| Resistance | 9062.78 | 9222.45 | 9402.87 | ||
| Support | 8722.69 | 8542.27 | 8382.60 | ||
Strong & Weak futures
This is list of 10 strong futures:
Hind Petro, IOC,TTML, Sterlin Boi, Glaxo, BPCL, NTPC, GTL, Power Grid & ITC.
And this is list of 10 Weak Futures:
JSW Steel, Parsvnath, Matrix Labs, Birla Jute, Orchid Chem, Ansal Infra, Amtek Auto, Purva, Unitech & J Stainless.
Nifty is in Down Trend.
NIFTY FUTURES (F & O)
Above 2754 level, rally may continue up to 2768-2770 zone and thereafter it can jump up to 2795-2797 zone.
Below 2705-2707 zone, expect profit booking up to 2663-2665 zone and thereafter slide may continue up to 2635-2637 zone.
Break below 2621-2623 zone, expect panic up to 2593-2595 zone.
On Positive Side, rallies up to 2809-2811 zone can be used to sell. Stop Loss at 2837-2839 zone.
Short-Term Investors:
Short-Term trend is bearish and target at around 2392 level on down side.
On Positive Side, rallies up to 2982 level can be used to exit. Maintain a Stop Loss at 3178 level for your short positions too.
BSE SENSEX
Technically Profit Booking should happen.
Short-Term Investors:
Trend is Bearish & Technical target at around 8183 level on down side. Rallies up to 9974 level can be used to exit. SL at 10571 level.
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The Dow Jones Industrial Average closed at 8,443.39. Up by 396.97 points.
The Broader S&P 500 closed at 851.81. Up by 51.78 points.
The Nasdaq Composite Index closed at 1,472.02. Up by 87.67 points.
The partially convertible rupee <INR=IN> closed at 50.09/10 per dollar on yesterday, weaker than from its previous close of 50.04/05 on Friday.
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OIL & GAS INDEX Stocks May Zoom
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Trading Calls 25th Nov 08
+ve sectors & scripts : IT, OIL&Refin, Pharma, GodrejCP, BPCL, DCHL, Cipla, Wipro
-ve sectors & scripts : CNX nifty junior,
Buy IOC-408 for 415-432 with sl 400
Buy TCS-519 for 551-561 with sl 510
Buy SterlingBio-190 for 202 with sl 185
Buy HCLTech-149 for 159-163 with sl 145
Buy Glaxo-1153 for 1190 with sl 1145
Buy Dr.Reddy-430 for 452 with sl 423
+ve to Market
1. US Market 2. Expected RBI Move on CRR, Repo & SLR 3. Expected Bailout package for reality sectors 4. G20 Movement to clear international recession 5. US bailout package to CITI group 6. Asian Market 7. SGX Nifty
-ve to Market
1. Profit booking 2. Rs.Vs $ 3. The impact of global recession in economic growth 4. SGX nifty 5. Weak sentiment 6. There is no investment buying by small investors and institutions.
--
Arvind Parekh
+ 91 98432 32381
