MKT COMMENTS
NIFTY FUT OI down 1.27 % with 38% increasing volumes indicating not only short covering but forming of long positions too.
MARKET VIEW:10000 LOOKS TO BE THE SUPPORT FOR FEW WEEKS
We expect NIFTY FUT to show pull back with volatility.
FROM TOMORROW P-NOTE FII CAN NOT KEEP THEIR SHORT POSITIONS OPEN MORE THEN 48 HOURS BEFORE THIS RULE IT WAS 30 DAYS-SO BE READY FOR COVERING
Banks’ stock prices are outperforming the market. Please do not short sell bank stocks as increasing liquidity is going to affect the banks NPA and this will automatically lead to a disaster…..worse then 1993 ????
IF DIPS BELOW, THEN BUY SELECT BANKING STOCKS LIKE:
BANK OF INDIA,CANARA BANK,HDFC BANK,SBI
Reality sector to show pull back.
Nifty Intraday Levels –17.10.2008
RES 1- 3370 RES 2- 3430 SUP 1 – 3100 SUP 2 – 3000
Sensex Intraday Levels – 17.10.2008
RES 1- 11125 RES 2- 11440 SUP 1 – 10620 SUP 2 –10445
Opening is flat to up
On the Friday if Nifty Future go to cross the level of 3275 & again do not break this level then it can go up to the level of 3315/3390/3425/3465/3510/3780 but if Nifty Future do not cross the level of 3275 or again go to break then it can go below the level of 3220/3175/3125/2985/2705.
Intraday
Buy ACC Above @ 525 Target 535-545-570.
Buy BANKINDIA Above @ 295 Target 310-320-350.
Buy BOMDYEING Above @ 236 Target 250-264-300.
Buy BPCL Above @ 350 Target 365-385-425.
Buy COLGATE Above @ 385 Target 395-410-445.
Buy HDFCBANK Above @ 1100 Target 1135-1170-1255.
Buy INDIACEM Above @ 95 Target 100-105-110.
Buy ITC Above @ 160 target 165-175-185.
Buy VSNL Above @ 475 Target 490-510-555.
Buy RELCAPITAL Above @ 700 target 735-775-865.
Buy Tata Powers (Last closed = 804 ),Stop loss below 780,Tgt- 825-835
Buy Suzlon Abv 98.5,Tgt:105-110,Sl : 95.
BUY UNION BANK FUT SL 152 TA 175-80
Sell ONGC Below @ 795 Target 780-750-690.
Sell L&T Below @ 815 Target 795-760-695.
Sell CHENNPETRO Below @ 155 target 150-145-135.
Sell BHEL Below @ 1295 Target 1270-1215-1120.
Selll ANDHRABK Below @ 52 target 50-48-45.

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