Market Outlook 24th April 2009

Trading Calls 24th Apr 2009
+ve Sector, Scripts : CAIRN

Intraday Calls
BUY Infy-11450 for a target 1490 stop loss 1422
BUY Wipro-312 above 316 for a target 329 stop loss 312

Expected Breakout Calls
BUY SAIL-115 above 116 for a target 121 stop loss 114
BUY Ambujacem-82.75 above 84 for a target 90 stop loss 82
BUY Grasim-1703 above 1720 for a target 1755 stop loss 1705

Breakout Calls
BUY Relinfra-712 for a target 750 stop loss 704

Positional Calls
BUY TVSMotor-33 for a target 45,50 stop loss 30

 

NIFTY FUTURES (F & O)
  Rally may continue up to 3457-3459 zone for time being.

Support at 3404 & 3416 levels. Below these levels, expect profit booking up to 3352-3354 zone and thereafter slide may continue up to 3301-3303 zone by non-stop.

Below 3251-3253 zone, expect panic up to 3201-3203 zone by non-stop.

On Positive Side, selling can be done if touches 3507-3509 zone. Stop Loss at 3557-3559 zone.
  
Short-Term Investors: 
  Bullish Trend. 3 closes above 2951 level, it can zoom up to 3661 level by non-stop.
  
BSE SENSEX   
 Higher opening expected & uptrend should continue.
  
Short-Term Investors:  
 Short-Term trend is Bullish and target at around 11967 level on upper side.

Maintain a Stop Loss at 10172 level for your long positions too.
 

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

Purva, Tvs Motor, LITL, HDIL, Essar Oil, Brigade, Penin Land, LIC Housing, JSW Steel & Bajaj Hind.

And this is list of 10  Weak Futures:

Sterling Bio, Titan, National Alumi, SRF, Divi's Lab, Alok Indust, Ranbaxy, Hind Petro, Cairn & Hind Unilvr.
Nifty is in Up Trend.

Book Profits in CONSUMER DURABLES Stocks

 

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	23-Apr-2009	1402.94	1161.81	241.13

 

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	23-Apr-2009	1122.86	697.03	425.83

 

SPOT LEVELS TODAY

	3423.70	( 2.80 %)	93.40
		1	2	3
Resistance		3472.23	3520.77	3601.63
Support		3342.83	3261.97	3213.43

	11134.99		( 2.93 %)	317.45
			1	2	3
Resistance			11305.86	11476.72	11750.17
Support			10861.55	10588.10	10417.24

GLOBAL CUES & RUPEE

The Dow Jones Industrial Average closed at 7,957.06. Up by 70.49 points.

The Broader S&P 500 closed at 851.92. Up by 8.37 points.

The Nasdaq Composite Index closed at 1,652.21. Up by 6.09 points.

The partially convertible rupee <INR=IN> ended at 49.92/94 per dollar on yesterday, stronger than its Wednesday's close of 50.33/34.
--
Arvind Parekh
+ 91 98432 32381