Markets For 14-11-2008

ALERT-S&P 500 TRADING AT 867 TWO MAJOR SUPPORT AT 840-810 CLOSING BELOW 810 FREE FALL

MKT COMMENTS

NIFTY FUT OI down 3.83% with 35% increasing volumes indicating not only short covering but forming of long positions for BTST.

We expect NIFTY FUT to trade volatile.

NIFTY ( 2848.45)

Supports : 2805/2710/2765/2695/2640/2525

Resistance : 2885/2910/2970/3065/3160/3250

SENSEX

Supports : 9300/9050

Resistance : 9855/10800/10175/11800

Stay short below 2860 sl above 2880 tgt 2790-2745-2715-2635-2525.

Sustain above 2885,Buy with SL below 2865 tgt 2915-2955-3105-3200(Positional).

For uptrend To Continue MARKET has To close ABOVE 2975 On Friday

POSITIONAL

Tgt 3050 & 2865 both achieved,but 2515 will not go straight will have some bounce of 80-120 pts
so again
sell NIFTY around

3180-3220, SL 3260
Or

3350-3400, SL 3470,TGT 3055-2865-2515
time frame till dec mid week

Or

SELL NIFTY BELOW 2885 WITH SL ABOVE 2960 TGTS 2815-2765-2715-2655(FIRST EXIT POINT)-2600(MAX)

Intraday

BUY SAIL ABOVE@73,TARGET@78,STOP LOSS@70

SAIL CMP NOV FUTURE 71.80

For today trading resistance level exists at 73, 74.5, 76.5 levels. On down side below 70.1 expect sell off up to 69.1, 67.1, 65.8, 63.7 levels.

BUY RELIANCE INDUSTRIES ABOVE@1170,TARGET@1225,STOP LOSS{STRICT}@1150

BUY BANK OF INDIA ABOVE@275,TARGET@290,STOP LOSS{STRICT}@270

Buy MCDOWELL-N Above @ 775 Target 790-810-820.SSL-765

Buy Indraprastha Gas 532514 (105-106),

Buy CESC 500084 (218-219),

Street Talk - Buy KRBL 530813 (71-72)

Sell JINDAL STEEL Below 750-745

Sell HDIL Below 107-106,Tgt 100/97,Sl 110

Sell BOB Below @ 279 Target 275-268 to 253.SSL-283

PNB : Sell below 460 keep stoploss at 470 lower targets 450-440++

Akruti City Ltd. (532799) Group (A)

This counter remains weak as we can see some more books profiting in near term. This counter can touch 620/605 level in short term.

M&M : Sell below 335 keep stoploss at 345 lower targets 310-305

Sell KOTAKBANK Below @385 Target 374-355-320.SSL-395.

Tata Powers (Last closed = 732 ) Sell with stop loss above 748 tgt-709-695.

Scrip	Trigger	Price	Stop Loss	Target 1	Target 2
TCS	BUY ABOVE	540.80	535.95	546.75	555.25
	SELL BELOW	529.05	533.80	523.20	515.10
RELIANCE	BUY ABOVE	1,170.00	1,164.45	1,187.95	1,206.35
	SELL BELOW	1,149.45	1,159.80	1,136.80	1,119.15