Market Outlook for 21st May 2009

Calls 21st May 2009
+ve Sector & Scripts : Rolta

Intraday Calls
BUY UTVsoft-350 for a target 372 stop loss 345
SHORT Sunpharma-1305 for a target 1240 stop loss 1321

BUY GEShip-263 for a target 272 stop loss 258
SHORT AxisBank-728 for a target 680 stop loss 738

BUY EKC-169 @ 163-162 for a target 172 stop loss 159
SHORT Educomp-2558 for a target 2440 stop loss 2600

Positional Calls
BUY Sasken-84 above 89 for a target 103 stop loss 83
BUY Tatasteel-371 for a target 420 stop loss 353

 

NIFTY FUTURES LEVELS

SUPPORT

4279

4262

4234

4220

4191

RESISTANCE
4300

4327

4372

4400

4414

4443

 

Strong & Weak  futures
This is list of 10 strong futures:

 Patel Eng, India Info, HDIL, HTMT Global, Aban, HCC, IVR Prime, Bom Dyein, Century Tex & IFCI.

And this is list of 10  Weak :

Colpal, ITC, Sterlin Bio, Glaxo, Hind Uni Lvr, Cipla, Infosys Tech, SunPharma, Tata Tea & GTL.
 Nifty is in Up Trend .

 

NIFTY FUTURES (F & O):  
Below 4279 level, selling may continue up to 4262-4264 zone and thereafter slide may continue up to 4234-4236 zone by non-stop.

Hurdles at 4300 & 4327 levels. Above these levels, expect short covering up to 4370-4372 zone and thereafter expect a jump up to 4398-4400 zone by non-stop.

Sell if touches 4412-4414 zone. Stop Loss at 4441-4443 zone.

On Negative Side, break below 4220-4222 zone can create some panic up to 4191-4193 zone by non-stop.
 
Short-Term Investors:  
Bullish Trend. 3 closes above 3550 level, it can zoom up to 5286 level by non-stop. 

BSE SENSEX:  
Weaker opening expected. Downtrend should continue. 

Short-Term Investors:  
Short-Term trend is Bullish and target at around 16873 level on upper side.
Maintain a Stop Loss at 11695 level for your long positions too.
 

POSITIONAL BUY:
Buy HIND CONSTRUCTION CO (NSE Cash) 
Higher opening expected. Buying may continue.

If trades above 102 level, then buying may continue up to 107 level. Cross above 110 level, expect fire works too. 

If breaks 102 level, then traders can expect profit booking up to 98 level.
 
Buy YES BANK (NSE Cash) 
Higher opening expected. Buying may continue.

If trades above 131 level, then buying may continue up to 137 level. Cross above 141 level, expect fire works too. 

If breaks 131 level, then traders can expect profit booking up to 127 level.
 
Buy HINDUJA GLOBAL S (NSE Cash) 
Higher opening expected. Buying may continue.

If trades above 264 level, then buying may continue up to 277 level. Cross above 286 level, expect fire works too. 

If breaks 264 level, then traders can expect profit booking up to 256 level.
 
Buy SREI INFRASTRUCTURE FINAN FUTURES (NSE) 
Higher opening expected. Buying may continue.

If trades above 72 level, then buying may continue up to 76 level. Cross above 78 level, expect fire works too. 

If breaks 72 level, then traders can expect profit booking up to 70 level.
 
Buy VOLTAS FUTURES (NSE) 
Higher opening expected. Buying may continue.

If trades above 94 level, then buying may continue up to 99 level. Cross above 102 level, expect fire works too. 

If breaks 94 level, then traders can expect profit booking up to 92 level.
 

 

SPOT LEVELS

	4270.30	( -1.11 %)	-48.15
		1	2	3
Resistance		4340.53	4410.77	4458.68
Support		4222.38	4174.47	4104.23

	14060.66		( -1.69 %)	-241.37
			1	2	3
Resistance			14318.62	14576.57	14747.64
Support			13889.60	13718.53	13460.58

Global Cues & Rupee  
The Dow Jones Industrial Average closed at 8,422.04. Down by 52.81 points.
The Broader S&P 500 closed at 903.47. Down by 4.66 points.

The Nasdaq Composite Index closed at 1,727.84. Down by 6.70 points.

The partially convertible rupee ended at 47.47/48 per dollar on yesterday, above Tuesday's close of 47.75/77.
 

FII DATA

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
FII	20-May-2009	5631.8	6617.33	-985.53

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	20-May-2009	2311.03	2306.04	+4.99

 

LONG TERM INVESTMENT

Modern Dairies-Move In Again

BSE 519287

 
 Modern Dairies Ltd has received a Letter of Approval dated March 24, 2009 from the Corporate Debt Restructuring (CDR) Cell approving the restructuring of debt of the Company. The Board of Directors has approved and accepted the comprehensive debt restructuring package of the Company approved by the CDR Cell which among other reliefs provides for the restructuring of existing loans and sanction of additional financial assistance by the Lenders. The Company shall now be executing the necessary documents with the lenders in this regard. BUY for six months hold.

(Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.)
--
Arvind Parekh
+ 91 98432 32381