Market Outlook for 13th May 2009

Trading Calls 13th May 2009
Intraday Calls
BUY Infy-1598 for a target 1627-35 stop loss 1580
BUY Maruthi-863 for a target 890 stop loss 852

Performance on 12th May 2009
Because of the high volatility maximum calls hit the target and flare
up again
SHORT RIL-1861 @ 1870 for a target 1845 stop loss 1880
SHORT L&T-963 @ 979 for a target 965 stop loss 985
SHORT CenturyTex-245 @ 255 for a target 240 stop loss 259
SHORT GEShip-228 @ 235 for a target 223 stop loss 239
BUY JSWsteel-424 for a target 440 stop loss 418

 

NIFTY FUTURES (F & O):
Rally may continue up to 3712-3714 zone for time being.

Support at 3651 & 3680 levels. Below these levels, expect profit booking up to 3587-3589 zone and thereafter slide may continue up to 3525-3527 zone by non-stop.

Buy if touches 3463-3465 zone. Stop Loss at 3401-3403 zone.

On Positive Side, cross above 3774-3776 zone can take up to 3836-3838 zone. If crosses and sustains at above this zone then uptrend may continue.
 
Short-Term Investors:
 
Bullish Trend. 3 closes above 3342 level, it can zoom up to 3997 level by non-stop.
BSE SENSEX:
 
Higher opening expected. Profit Booking should start.
Short-Term Investors:
 
Short-Term trend is Bullish and target at around 13662 level on upper side.
Maintain a Stop Loss at 10962 level for your long positions too.
 
Global Cues & Rupee
 
The Dow Jones Industrial Average closed at 8,469.11. Up by 50.34 points.
The Broader S&P 500 closed at 908.35. Down by 0.89 points.

The Nasdaq Composite Index closed at 1,715.92. Down by 15.32 points.

The partially convertible rupee closed at 49.26/28 per dollar on yesterday, stronger than Monday's close of 49.52/53.
 

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

Bhushan Steel,Bajaj Hind,Havells,TVS Motors,Auro Pharma,Tulips,JSW Steel,Jindal Steel,PeninLand & Triveni.

 And this is list of 10  Weak :

Hind UniLvr,BPCL,Rajesh Expo,Ambuja Cem,Hind Petro,ACC,Cipla,Sterlin Bio,India Cem & Alok Text.
 Nifty is in Up Trend .

 

INVESTMENT BUY:
Sell HIND UNILEVER (NSE Cash)	Expected to open weak. Selling should continue.  Below 230 level, downtrend should continue up to 221 level and thereafter it can tumble up to 215 level by non-stop.   Above 230 level, expect short covering up to 235 level.
Sell BHUSHAN STEEL (NSE Cash)	Expected to open weak. Selling should continue.  Below 673 level, downtrend should continue up to 647 level and thereafter it can tumble up to 631 level by non-stop.   Above 673 level, expect short covering up to 690 level.
Sell HERO HONDA (NSE Cash)	Expected to open weak. Selling should continue.  Below 1218 level, downtrend should continue up to 1171 level and thereafter it can tumble up to 1141 level by non-stop.   Above 1218 level, expect short covering up to 1249 level.
Sell ISPAT INDUSTRIES FUTURES (NSE)	Expected to open weak. Selling should continue.  Below 16 level, downtrend should continue up to 14 level.
Sell IDBI FUTURES (NSE)	Expected to open weak. Selling should continue.  Below 63 level, downtrend should continue up to 60 level and thereafter it can tumble up to 59 level by non-stop.   Above 63 level, expect short covering up to 64 level.

 

SPOT LEVEL

	3681.10	( 3.56 %)	126.50
		1	2	3
Resistance		3737.10	3793.10	3894.55
Support		3579.65	3478.20	3422.20

	12158.03		( 4.07 %)	475.04
			1	2	3
Resistance			12359.98	12561.92	12929.22
Support			11790.74	11423.44	11221.50

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	12-May-2009	2438.16	1985.98	+452.18

 

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	12-May-2009	1093.42	915.68	+177.74

--
Arvind Parekh
+ 91 98432 32381