Markets On 13-082008

Market Outlook and Tips for 13-08-08

NIFTY ANALYSIS : After a positive opening, Nifty face selling pressure at higher level and finally closed almost 65 point down from it's previous close. On chart Nifty has formed a bearish dark cloud pattern. Now it has a support around 4530 and breakout support around 4450. So in worst scenario, Nifty should not close below 4440 level, and if that happens, then it may slide up to 4200 level. On upside, now any daily or weekly closing above 4650 will make Nifty bullish. So Nifty may consolidate here for some time before giving any significant movement. So it should be good idea to book some profit here and wait for the opportunity. For Wednesday, support exists at 4515 and then at 4445. On upside, resistance exists at 4600 and then at 4640.

Today if Nifty Future cross the level of 4620 then please makes new long position other wise bullish investor please keep distance from the market, if Nifty Future go to break the level of 4565 then it can go below the level of 4520, 4450 to 4235.

According to main support level when Nifty Spot trade above the level of 4395, Sensex----14565 then Nifty Spot can go at the level of 4770 & Sensex 15835 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 4770 & Sensex15835 before that there is a strong resistance of Nifty--- 4680, selling pressure can come there also.

NIFTY FUTURE : Now above 4600 Nifty face some selling pressure so two consecutive day above 4620 is required for further rally. For day trading view, above 4575 it go for 4625 to 4699 level. At downside it has support around 4515 and then 4445.

BSE SENSEX : For a day trading view, Above 15305 it go for 15485 to 15835 level and at downside it has support around 15030 if break this then slide up to 14850 to 14555.

RELIANCE : Now it close near 2350 level, so it go for 2375 to 2405 level and if cross this then 2435 is possible. support at 2315 and then 2285.

SBI : Some profit booking is seen in this stock, Now for further rally if it cross 1568 then it go for 1612 to 1668 level and then 1712. At downside it has support around 1512 and then 1468.

TATA STEEL : Again give a bearish sign, now below 623 it try to kiss 582 and then 556 level. At upside if trade above 623 then it go for 649 to 690.

L&T : For day trading view, it has support around 2811 level and if break then slide up to 2777 to 2727 level. At upside above 2861 it go for 2895 to 2945.

INFOSYS : It slide to kiss 1560 and if break this too then it slide up to 1517 to 1449 level. It upside it face hurdle at 1628 and then 1671.

ONGC : Now below 1100 it slide to touch 1060 and if slip further then slide up to 1035 to 995. level. At upside it face hurdle at 1135 and then at 1170.

ONGC crosses if 1045-1060( 200DMA) and stays above it,Can Touch 1155 in near term.RSI is looking good.Traders cam remain Long.

REL CAPITAL : Above 1423 it zoom to kiss 1445 and then at 1480 to 1502 level. At downside it has support around 1388 and then 1366.

REL INFRA : Now for further rally it should close above 1120 . For intra day range above 1120 it go for 1145 to 1170 level and at downside below 1095 it slide to kiss 1070 to 1050 level.

BHEL : Below 1810 it slide to touch 1775 and if break this then slide up to 1735 to 1700 level. At upside trade above 1810 lead it to the 1845 to 1885 level.

DLF : Again in the range of 580 to 555. Any side close lead this stock to that side if go upside then go for 585 to 595 and if trade below 555 then slide up to 545 to 530

NIFTY FUTURE Sell below 4580 SL 4615 target 4520-4480-4420 & Below

BANK NIFTY Sell below 6555 SL 6635 TGT 6356

Sell BHARATFORGE Below @ 270 Target 265-260-250.

Sell CANBANK Below @ 230 Target 225-220-210.

Sell GAIL Below @ 420 Target 415-408-395.

Sell GRASIM Below @ 2065 Target 2050-2020-1960.

Sell HPCL Below @ 235 Target 230-225-220.

Sell IOB Below @ 100 Target 95-90-85.

Sell KOTAKBANK Below @ 645 Target 625-605-565.

Sell MARUTI Below @ 675 Target 655-630-575.

Sell NTPC Below @ 185 Target 185-180-170.

Buy M&M Above @ 595 Target 605-620-645.

Buy MASTEK Above @ 375 Target 385-395-415.

Buy GNFC Above @ 130 Target 135-140-145.

Buy BIOCON Above @ 400 Target 420-430-465.

Buy ASIANPAINT Above @ 1255 Target 1270-1280-1305.

Buy GMRINFRA Above 112.15 sl 108 tgt 114-117-123.

Buy LOKESHMACH Above 71 sl 66 tgt 74-80.

BUY SUBEX Above 88 sl 81 tgt 91.40-96-104.

BUY NETWORK18 Above 208 sl 198 tgt 213-224-240.

Buy EDL Above 125 sl 116 tgt 129-136-142.
Buy ARVINDMILL above 39 sl 36 tgt 42-46

POSITIONAL :

Buy KS Oil ,SL @ 57 on Closing Basis,Tgt : 70-82

Futures :

Buy APTECH ( AUGUST FUTURES)

SL @225 on Closing Basis, Tgt :265-280

Futures –Option Strategy :

CHAMBAL FERTILIZERS (86)(4-5 days):

Buy CHAMBAL AUG 85 CALL @ 6-6.5

Sell CHAMBAL AUG 95 CALL @ 3-3.5

STOPLOSS ( For Both The Calls) when CHAMBAL AUG 85 CALL hits 3.7 – 4

TARGET : CHAMBAL AUG 85 CALL @ Rs 10-11. ( Lot Size : 3450)