Market Outlook 15th May 2009

 

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

HTMT Global, 3I Infotech, Jindal Saw, Yes Bank, Bajaj Hind, IDFC, HDIL, Maha. Seamles, Kotak Bank & Patel Eng.

And this is list of 10  Weak :

Sterlin Bio, India Cem, Biocon, Hind Uni Lvr, Essar Oil, ONGC, TTML, Ambuja Cem, Indian Bank & Colpal.
 Nifty is in Up Trend .

 

NIFTY FUTURES LEVEL

RESISTANCE

3615

3623

3646

3699

3731

3997

SUPPORT

3591

3582

3559

3506

3475

3342

 

INVESTMENT BUY:
Buy RELIANCE INFRASTRUCTURE (NSE Cash)	Expected to open strong. Buying should continue.  Above 793 level, uptrend should continue up to 826 level and thereafter it can zoom up to 846 level by non-stop.   Below 793 level, expect profit booking up to 774 level.
Buy HOUSING DEV & INFRA (NSE Cash)	Expected to open strong. Buying should continue.  Above 180 level, uptrend should continue up to 187 level and thereafter it can zoom up to 191 level by non-stop.   Below 180 level, expect profit booking up to 175 level.
Buy ABAN OFFSHORE (NSE Cash)	Expected to open strong. Buying should continue.  Above 497 level, uptrend should continue up to 518 level and thereafter it can zoom up to 531 level by non-stop.   Below 497 level, expect profit booking up to 485 level.
Buy IDFC FUTURES (NSE)	Expected to open strong. Buying should continue.  Above 96 level, uptrend should continue up to 100 level and thereafter it can zoom up to 103 level by non-stop.   Below 96 level, expect profit booking up to 94 level.
Buy YES BANK FUTURES (NSE)	Expected to open strong. Buying should continue.  Above 94 level, uptrend should continue up to 98 level and thereafter it can zoom up to 100 level by non-stop.   Below 94 level, expect profit booking up to 91 level.

 

NIFTY FUTURES (F & O):  
Above 3613-3615 zone, expect short covering up to 3623 level and thereafter expect a jump up to 3644-3646 zone by non-stop.

Support at 3591-3593 zone & 3594 level. Below these, selling may continue up to 3582 level and thereafter it can slide up to 3559-3561 zone by non-stop.

Below 3506-3508 zone, expect panic up to 3475-3477 zone by non-stop.

On Positive Side, cross above 3697-3699 zone can take up to 3729-3731 zone. Supply expected at around this zone and have caution.
 
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 continue. 
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 8,331.32. Up by 46.43 points.
The Broader S&P 500 closed at 893.07. Up by 9.15 points.

The Nasdaq Composite Index closed at 1,689.21. Up by 25.02 points.

The partially convertible rupee <INR=IN> closed at 49.78/79 per dollar on yesterday, weaker than its Wednesday's close of 49.71/72.
 

 

NIFTY SPOT LEVELS

	3593.45	( -1.15 %)	-41.80
		1	2	3
Resistance		3693.17	3751.08	3792.57
Support		3593.77	3552.28	3494.37

 

	11872.91		( -1.22 %)	-146.74
			1	2	3
Resistance			12205.91	12392.16	12527.90
Support			11883.92	11748.18	11561.93

 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	14-May-2009	1550.33	1852.25	-301.92

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	14-May-2009	1039.62	785.32	+254.3

 

--
Arvind Parekh
+ 91 98432 32381