Corporate News Headline
Reliance Capital reported Q3'09 results, total revenue increased 38.36% yoy to Rs. 15.7 bn, and net profit rose 13.34% yoy to Rs. 1.32 bn. (ET) Hero Honda reported Q3'09 results, total revenue increased 4.63% yoy to Rs. 29.25 bn, and net profit rose 9.23% yoy to Rs. 3 bn. (BS) NTPC and Coal India Limited have decided to sign an agreement to always maintain 75% fuel supply for the Company. (ET) Economic and Political Headline The Central Electricity Regulatory Commission has increased the Return on Equity (ROE) for the power companies to 15.5% from the existing 14%. It is applicable on projects from 2009 to 2014 and the ROE for projects completed on scheduled would be calculated at 16%. (ET) The Planning Commission Deputy Chairman Montek Singh Ahluwalia has said that the government will not change the tax structure during the current fiscal, ending March 31, setting at rest speculation about the possibility of tax cuts to boost growth. (BS) The UK inflation rate fell to 3.1% in December from a year earlier, compared with 4.1% in the previous month as tax cuts and the deepening recession eased price pressures across the economy. (Bloomberg)Strong & Weak Futures
This is list of 10 strong futures:
Neyveli, Balram Chini, Polaris, Power Grid, HPCL, BEML, BEL, Ultra Cem, JP Hydro & BPCL.
And this is list of 10 Weak Futures:
Rolta, Pantaloon, DLF, TVS Motor, Siemens, Punj Llyod, Star, BRFL, IVRCL Infra & Unitech
Nifty is in Down Trend.
NIFTY FUTURES (F & O)
Downtrend may continue up to 2753 level for time being.
Hurdle at 2785-2787 zone. Above this zone, expect short covering up to 2807-2809 zone and thereafter expect a jump up to 2827-2829 zone by non-stop.
Above 2874-2876 zone, it can zoom up to 2894-2896 zone and supply expected at arond this zone.
On Negative Side, rebound expected at around 2731-2733 zone. Stop Loss at 2711-2713 zone.
Short-Term Investors:
Bearish Trend. 3 closes below 3144 level, it can tumble up to 2312 level by non-stop.
BSE SENSEX
False signal is likely. Technically downtrend should continue.
Short-Term Investors:
Short-Term trend is Bullish and target at around 9872 level on upper side.
Maintain a Stop Loss at 8947 level for your long positions too.
GLOBAL CUES & RUPEE
The Dow Jones Industrial Average closed at 7,949.09. Down by 332.13 points.
The Broader S&P 500 closed at 805.22. Down by 44.90 points.
The Nasdaq Composite Index closed at 1,440.86. Down by 88.47 points.
The partially convertible rupee <INR=IN> ended at 49.20/22 per dollar on yesterday, lower than Monday's close of 48.70/71.
Book Profits in POWER INDEX Stocks
Trading Calls 21st Jan 2009
-ve Sector : Bank, Oil&Ref,
USE STRICT Stop Loss for todays trading
Trading Calls 21st Jan 2009
-ve Sector : Bank, Oil&Ref,
USE STRICT Stop Loss for todays trading
Short Reliance-1183 for 1150 with sl 1188
Short HUL-246 for 233 with sl 250
Short Maruthi-559 for 534 with sl 565
Short M&M-299 for 279 with sl 303
BUY CESC-244 @ 235 for 251 with sl 230
-ve to Market : 1. Continous selling by FII 2. DII selling 3. Expected slowdown/Q3Results 4. Rs.Vs$ 5. Sentiment 6. There is no delivery based buying by investors 7. Asian Market tmble 8. SGX nifty 9. US Market 10.
NIFTY & SENSEX SPOT LEVELS TODAY
 | 2796.60 | ( -1.74 %) | -49.60 |  |
| 1 | 2 | 3 | ||
| Resistance | 2840.33 | 2884.07 | 2925.23 | |
| Support | 2755.43 | 2714.27 | 2670.53 | |
 | 9100.55 | ( -2.45 %) | -229.02 | | |
| 1 | 2 | 3 | |||
| Resistance | 9162.36 | 9224.16 | 9288.57 | ||
| Support | 9036.15 | 8971.74 | 8909.94 | ||
Arvind Parekh
+ 91 98432 32381
