Markets For 11-08-2008

Nifty (4529):- Nifty advanced for the fifth consecutive week supported by sharp fall in crude oil prices and positive global cues. However, Selling pressure at higher levels was seen. Midcap stocks outperformed the benchmark indices as bargain. Hunting was seen after the recent meltdown. During the week, nifty gained 2.6% to close at 4529, driven by gains in Maruti, HDFC Bank and ICICI Bank and in other interest-rate sensitive sectors Such as realty and auto. Steel stocks bucked the positive trend to close lower. With inflation rising at a much slower pace in recent Weeks, there are expectations that RBI may now hold its rate-hiking spree.
For the coming week, we may witness volatility as IIP numbers are scheduled to be announced on 12th August.
However traders can go long on Nifty with stoploss of 4370 for the Upside target of 4610-4620 and 4720-4750+++.below 4370 we may Fall back to 4250 levels.

According to weekly or two weekly targets Nifty Spot trade above the level of
(4500 & 4555) Sensex (15025 & 15205) then they can go up to the level of Nifty Spot (4770 to 4800 & Sensex (15995 to 16475) but if Nifty Spot go to break the level of (4420 to 4260) Sensex (14720 to 14125) then they can go below the level of Nifty Spot (4205 to 3875) Sensex(13935 to 12680).

According to main support level when Nifty Spot trade above the level of 4385, Sensex----14565 then Nifty Spot can go at the level of 4785 & Sensex 15845 but if Nifty Spot go to break the level of 4395 & Sensex------14565 then once again lower level can be tested. So selling pressure can be started near the level of Nifty 4785 & Sensex15845 before that there is a strong resistance of Nifty--- 4680, selling pressure can come there also.

Above levels are very strong levels, so please do not ignore when you do trade.

Due to the profit booking in the CRUDE OIL Market is running volatile & trading on the upper level. Inflation is continuously increasing in India & this impact will show all over sector. And due to the less rain in all the states, Inflation can increase more which main impact will show on the Auto, cement & power sectors. If rate of interest is continuously increase like this & did not do increase the prices of steel sectors then due to these sectors very reverse impact will show in the market.

Today if Nifty Future trade above the level of 4540 then it can go up to the level of 4600, 4635 to 4700 but if Nifty Future goes to break the level of 4540 then it can go below the level of 4495, 4420 to 4320.

SENSEX-index has closed above the last week resistance of 15130-Monday morning market likely to open with gap.
In the next few days index will face resistance at 15688 above that it has strong resistance at 15798 two close above this levels will take index to 16159-16289 kind of levels and use this levels to book profits. support at 14251-13727.

Major resistance levels are 4620-4660-4700-4750-4785-4835-4930
Major support levels are 4530-4460-4385-4320-4250-4200-4160

Nifty Future for day trading-

Buy above 4550 SL 4515 TGT 4570,4595,4620,4660,4685,4725
Bank Nifty-Buy above 6385 SL 6305 TGT 6440,6595,6730

SHORT TERM DELIVERY =

Gmr infra- one can consider short term delivery with stop loss of 96 on closing basis and target of 110-120

Greaves cotton-suddenly in the last three days volume has been expanding one can consider short term delivery with stop loss of 165 and price target of 198 once close above this levels will take to 214-221 kind of levels.

FII bought 2.5 lakh shares of TATA Steel in a single day.It is near to our average BUYING PRICE of 650-655.You can BUY n HOLD.

IMPORTANT NOTES

On 12th of the month we have Indian Industrial Production numbers data.(12 Pm)
On 13th we have meeting of SEBI on the FII and P-NOTE issue.
Bank and Sugar stock trading in over bought zone.
One can Short NIFTY above 4835 with stop loss of 4935.

Here are few Delivery Calls that you can benefit from:

Buy RELINFRA for a target of 1080, 1100, and 1120

Buy DLF on all declines for a target of 580,600,620,660

Some other stocks, which are looking good on charts are Aptech, ONGC and Kotak Bank

Cash Stocks To Watch : ASIAN ELEC,Salzer Elec,MRPL,SEL MFG,HIND OIL for short term!!!

BUY EVERON @510-20 tgt 570 ,

BUY GREAVES COTTON @170-185 tgt 195/210 ,

BUY L&T REC 2735-50 tgt 2975. 3050,

BUY PANTALOON RETAIL @385-395 tgt 415/440

Moderate Risk Traders
Aurionpro Solutions Ltd (532668,CMP 290-295)
Buy Arnd 285-295 ; SL 270 ON CLOSING BASIS

Commodity

GOLD SHRT TRM(in $)

SUP:849/844>BUY<838/834/825/820>BUY

RES:865/875/883/890/900/914

WEEKLY'S

SUP-11591/11342

PIVOT-12079

RES-12090/12339

SILVER SHRT TRM
SUP:15/14.9/14.7>BUY<14.50/14.3/14.>BUY
RES:15.8/16.2/16.4/16.7/17
WEEKLY'S
SUP-20840/11966
PIVOT-22620
RES-22481/23320

CRUDE SHORT TERM
SUP:112/111.8>BUY<111.4/110/108
RES:119/120.5/121.8/123.5
WEEKLY RANGE
SUP-4693/4547
PIVOT-5009
RES-4984/5130

INTRADAY

BUY Adlabs at 662 Target 880,

BUYChambal Fert. @ 84 TAR 95,

BUY Bharti AirTel @ 845 TAR 880,

Buy BANKINDIA Above @ 295 Target 300-315-340.

Buy BOMDYEING Above @ 635 Target 645-650-675.

Buy HEROHONDA Above @ 825 Target 830-835-850.

Buy JETAIRWAYS Above @ 485 Target 495-505-535.

Buy PNB Above @ 500 Target 510-525-550.

Buy RCOM Above @ 440 Target 445-449-460.

Buy SBIN Above @ 1525 Target 1555-1585-1660.

Buy TATAMOTOR Above @ 440 Target 450-460-480.

Buy TCS Above @ 850 Target 860-875-900.

Sell UNITECH Below @ 175 Target 165-160-154.

Sell VSNL Below @ 450 target 430-405-400.

Sell TATAELEXSI Below @ 170 Target 160-150-145.

Sell RPL Below @ 165 Target 155-150-145.

Sell SAIL Below @ 145 Target 140-135-130.

Sell RANBAXY Below @ 505 Target 490-475-470.

Buy All Bank Stock (HDFC BANK ,ICICI BANK,KOTAK,YESBANK),PATNI,MTNL & TATA MOTORS,MARUTI, M&M ; SELL DR REDDY. ( BUY/SELL IN FUTURES ACCORDINGLY -INTRADAY)

Positional : Sell On Rise AIR DECCAN FUTURES ,Keep Stop Loss of 92 on Closing Basis

(Newly introduced ATF futures was trading lower in the afternoon session Thursday at the Multi Commodity Exchange. We believe from our Sources that Air Deccan made its Highest Ever Hedging in ATF Futures..Also Source says that ATF Futures may decline heavily in coming weeks along with the Crude Oil Prices..)