Headlines for the day
Corporate News Headline
M&M is planning to exit from commercial vehicle maker Swaraj Mazda by selling its stake to Japan´s Sumitomo Corporation. (ET) Jindal Steel and Power is planning to invest about Rs 60 bn to set up 10 captive power units in its existing facilities in Chhattisgarh and Orissa to achieve energy security for its steel units. (BS) Punj Lloyd has bagged an order worth about Rs. 1.5 bn from ExxonMobil for engineering-related projects. (BS) Economic and Political Headline The Prime Minister Manmohan Singh said that he would ask the RBI to make credit cheaper for the auto sector. (ET) The Foreign Investment Promotion Board has given a three-month breather to foreign companies that made downstream investments in the country without the board's approval. (ET) GMAC LLC, bolstered by a USD 6 bn federal bailout, resumed lending to General Motors Corp. customers with lower credit scores as the US stepped up efforts to keep the automaker in business. (Bloomberg)  | 2979.50 | ( 1.96 %) | 57.30 |  |
| 1 | 2 | 3 | ||
| Resistance | 3019.18 | 3058.87 | 3118.58 | |
| Support | 2919.78 | 2860.07 | 2820.38 | |
 | 9716.16 | ( 1.92 %) | 182.64 | | |
| 1 | 2 | 3 | |||
| Resistance | 9835.90 | 9955.64 | 10126.24 | ||
| Support | 9545.56 | 9374.96 | 9255.22 | ||
Strong & Weak futures This is list of 10 strong futures:
Matrix Labs, Bajaj Hind, Jet Airways, Patel Eng, Aptech Training, Hind Petro, Auro Pharma, Renuka, Amtek Auto & Purva.
And this is list of 10 Weak Futures:
Satyam, Jindal Stainless, Roltas, Bhushan Steel, Birla Crop, Hotal Leela, Jindal Saw, Redington, HCL Tech & GT Offshore. Nifty is in Up Trend.
FII FATA
FII + 214.95 DII +375.65
NIFTY FUTURES (F & O) Above 3008-3010 zone, uptrend may continue up to 3022 level and thereafter expect a jump up to 3049-3051 zone by non-stop. Support at 2975-2977 zone. Below this zone, expect profit booking up to 2932-2934 zone and thereafter slide may continue up to 2891-2893 zone. Buy if touches 2877-2879 zone. Stop Loss at 2836-2838 zone. On Positive Side, above 3063-3065 zone it can zoom up to 3104-3106 zone and if crosses & sustains at above this zone then uptrend may continue. Short-Term Investors: Short-Term trend is Bullish and target at around 3202 level on upper side. On Negative Side, corrections up to 2821 level can be used to buy. Maintain a Stop Loss at 2694 level for your long positions too. BSE SENSEX False signal may be possible. Technically Uptrend should continue. Short-Term Investors: Trend is Bearish & Technical target at around 8832 level on down side. Rallies up to 9838 level can be used to exit. SL at 10173 level.
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 8,668.39. Up by 184.46 points. The Broader S&P 500 closed at 890.64. Up by 21.22 points. The Nasdaq Composite Index closed at 1,550.70. Up by 40.38 points. The partially convertible rupee <INR=IN> closed at 48.47/49 per dollar on yesterday, weaker from Monday's close of 48.41/44.
CAPITAL GOODS Stocks May Zoom
Trading Calls 31st Dec 08 +ve sectors & scripts : Sugarstocks, Media stocks, Airline, Bank, ABGship, Auropharma, Cummins, NDTV, SunTV, Gspl, CentralBank USE STRICT Stopp Loss for todays trading BUY Balramchin-48 for 54 with sl 46 [Trading] BUY NIITech-67 for 73-77 with sl 65 BUY Renuka-70 for 73-76 with sl 68 Short Biocon-114 for 107 with sl 117 BUY L&T-771 for 799-839 with sl 763 [Breakout] BUY RNRL-57 for 64 with sl 55 BUY Voltas-57 for 64 with sl 55 [positional] BUY Prajind-64 for 74 with sl 62 BUY NTPC-181 for 204 with sl 178 BUY Jetair-200 above 202 for 211 with sl 199 [Expected Breakout] BUY ICICI-458 above 462 for 477 with sl 458 BUY Lichousing-227 above 230 for 236-43 with sl 225
--Arvind Parekh
+ 91 98432 32381
