Markets For 11-11-2008

NIFTY FUTURE
Supports : 3095/3060/3025/3000/2965/2900
Resistances : 3180/3195/3220/3275/3330

SENSEX

Supports : 10230/9925

Resistance : 10710/10875

POSITIONAL:

Can see rally upto 3240/3465,so Sell NIFTY

Around 3190-3230,SL 3260

Or

3350-3400,SL 3470
TGT 3055-2865-2510 till DECEMBER Mid Week,SHORT NEAR SL AREA

MKT COMMENTS

NIFTY FUT OI up 4.34% with 28% decreasing volumes indicating forming of long positions for BTST.

NIFTY FUT will open gap up and trade Rangebound.

Market Talk

->Metal stocks may fall further which decrease in demand and surpluss output
->Promoters are buying heavily in Gitanjali Gems , One can accumulate the stock for medium to long term
->Bharat Gears, which posed excellent results, is an excellent buy

->KLG Systel has bagged a huge order worth Rs.130 cr. from Punjab State Electricity Board. Yet there is no respite for the share as it continues to tumble down. Buy below Rs.100 level
->Hariyana Ship-Breakers is all set to post an EPS of Rs.25 in FY09. Investors can grab the share for decent gains.
->Sarda Energy & Minerals shares are being cornered by a bull operator, who anticipates an EPS of Rs.65 in FY09

Opening is flat to up,

Stay long above 3120 Buy with SL below 3105 tgt 3215-3255-3285-3300.

Sustain below 3100,Sell with SL above 3115 tgt 3070-3025-2905.

Tata Powers (Last closed = 808 ) Buy with stop loss below 794 tgt-832-844.

RCOM

BUY ABOVE 237,Sl 233,Tgt 243/252

SELL BELOW 232,Sl 235,Tgt 225/216.

Wipro

Buy Above 272,Sl 270,Tgt 275/280

Sell Below 267,Sl 269,Tgt 263/259

IBRealEstate

Buy Above 155,Sl 153.5,Tgt 157/159/161

Sell Below 152,Sl 153.5,Tgt 150/148

Buying Expected In HINDUNILEVER Above 253-254

Buy Hind Const Abv 60-61,Sl 58,Tgt 64/66/68++

Do not short sell but BUY stocks like TataComm, Kotak Bank,SBI, DLF etc.

Positive- Cairn India,PFC, PTC

STOCKS IDEA

(FORMAT : NAME OF STOCK – CMP – STOP-LOSS - TARGET-1/2/3)

BHARAT FORGE : 111 - 109 - 114/17/20+

HDIL : 125 - 122 - 129/33/38+

Technical Stock Recommendations (Short Term)

JP Associates(88.80)
Stock is making a bullish "Inverted Head & Shoulder" pattern in hourly charts with resistance at 92-95, breakout from where may target 120 in coming sessions. Fresh buying may be considered once the stock moves & stays above 95 using SL of Rs.4/- for target of 120+ in near future.

Maruti Udyog(598)
Stock is making a bearish "Head & Shoulder" pattern in hourly charts with neckline support at 585, setting a target of 540 on bearish breakout which will be achieved in coming days. Part profit booking/short selling may be considered once the stock ,moves & stays below 580 using SL of Rs.15/- & target of 540.

BPCL(338)
Stock has given bullish breakout from a pattern in EST charts setting a target of 360 which is likely to be achieved in coming days. Fresh buying may be considered gradually on declines till 329 using SL of Rs.12/- & target of 360+.

SAIL(84.75)
Stock has made a bullish "Double Bottom" pattern with resistance at 85, bullish breakout from where may target 92-95 in coming sessions. Fresh buying may be considered once the stock moves & stays above 85 using SL of Rs.3/- for target of 92-95 in near future.

GMR Infra(68.15)
Stock has given bullish breakout from a pattern in EST charts setting a target of 85-87 which is likely to be achieved in coming days. Fresh buying may be considered gradually on declines till 66 using SL of Rs.3/- & target of 85-87.