Corporate News Headline
BHEL would set up a joint venture with Kerala Electrical & Allied Engineering Company Ltd for manufacturing products for railways and other industries. (ET) RIL has begun talks with over a dozen power and fertiliser firms to sell gas from its KG basin after it received the Bombay High Court´s approval last week. (BS) Cairn India will be laying a pipeline to transport crude oil from its Mangala fields in Rajasthan after the firm agreed to invoice oil sales in the state rather than at the delivery point in Gujarat. (BS) Economic and Political Headline The Commerce Minister Kamal Nath said that the Indian economy will grow in excess of 7% in the current fiscal year. (BS) The Finance Minister Pranab Mukherjee said that the government will focus on boosting domestic demand as the global downturn trips up growth in Asia´s third-largest economy. (ET) The index of pending home resale in the US climbed 6.3% to 87.7 in December, signalling that foreclosure-driven declines in prices are boosting demand. (Bloomberg)Strong & Weak futures
This is list of 10 strong futures:
Polaris, Balram Chini, BEL, Edelweiss, GT Offshore, Jindal Steel, Triveni, Renuka, Maruti & Reliance.
And this is list of 10 Weak Futures:
DLF, Wel Guj, Punj Lloyd, HDIL, ABAN, Mah Life, Divis Lab, Gitanjali, Suzlon & Voltas.
Nifty is in Up Trend.
Trading Calls 04th Feb 2009
USE STRICT Stop Loss for todays trading
Buy ONGC-651 for 666 with sl 645 [Trading]
Buy Tatacomm-431 for 446 with sl 426
Buy Tatapower-754 for 764-769 with sl 751
Short NTPC-176 for 170 with sl 179
Buy Grasim-1273 for 1345 with sl 1250 [Breakout]
NIFTY FUTURES (F & O)
Above 2780-2782 zone, expect rally up to 2791 level and thereafter it can jump up to 2812-2814 zone.
Support at 2749 & 2755 levels. Below these levels, expect profit booking up to 2715-2717 zone and thereafter slide may continue up to 2684-2686 zone by non-stop.
Below 2673-2675 zone, expect panic up to 2641-2643 zone and those kind of oppurtunities can be used to buy. Stop Loss is too far on down side and can be placed at around 2556-2558 zone.
On Positive Side, above 2822-2824 zone, it can zoom up to 2854-2856 zone and thereafter it will try to touch 2918-2920 zone and if crosses & sustains at above this zone then uptrend may continue.
Short-Term Investors:
Bearish Trend. 3 closes below 3144 level, it can tumble up to 2312 level by non-stop.
BSE SENSEX
Traders can expect selling further.
Short-Term Investors:
Short-Term trend is Bullish and target at around 9910 level on upper side.
On Negative Side, corrections up to 8951 level can be used to buy. Maintain a Stop Loss at 8632 level for your long positions too.
GLOBAL CUES &RUPEE
The Dow Jones Industrial Average closed at 8,078.36. Up by 141.53 points.
The Broader S&P 500 closed at 838.51. Up by 13.07 points.
The Nasdaq Composite Index closed at 1,516.30. Up by 21.87 points.
The partially convertible rupee <INR=IN> closed at 48.81/82 per dollar on yesterday, stronger than its previous close of 48.92/93.
OIL & GAS INDEX Stocks May Zoom
NIFTY & SENSEX SPOT LEVELS FOR TODAY
 | 2783.90 | ( 0.62 %) | 17.25 |  |
| 1 | 2 | 3 | ||
| Resistance | 2826.10 | 2868.30 | 2904.90 | |
| Support | 2747.30 | 2710.70 | 2668.50 | |
 | 9149.30 | ( 0.91 %) | 82.60 | | |
| 1 | 2 | 3 | |||
| Resistance | 9287.85 | 9426.39 | 9550.04 | ||
| Support | 9025.66 | 8902.01 | 8763.47 | ||
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 | 03-Feb-2009 | 1137.8 | 1416.69 | -278.89 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 03-Feb-2009 | 704.56 | 712.31 | -7.75 |
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Arvind Parekh
+ 91 98432 32381
