Markets For 21-11-2008

MKT COMMENTS

NIFTY FUT OI marginal up with 9% decreasing volumes indicating short covering and long position for BTST.

We expect NIFTY FUT to trade volatile with possibility of bounce from lower levels.

NSE Index (C-2553.15)

Resistance : 2565/2625/2700

Support : 2490/2430

BSE Sensex (C-8451.01)

Resistance : 8555/8660

Support : 8435/8330/8210

Nifty Future (C-2550.40)

Resistance : 2575/2620/2640

Support : 2550/2510/2480/2450

Bank Future (C-4097.10)

Resistance 4200/4300

Support 4070/3975/3850

Today Due to global Weakness its very important to watch the Opening, and if 2550 Holds for the day on closing basis, little hope left for Bulls to survive.

NIFTY : Opening is flat to down,
Stay Short Below 2560,Sl Above 2570,Tgt 2500-2480
Sustain Above 2570,Buy with,Sl Below 2555,Tgt 2625-2695

Buy INDIAINFO NOV(Csh/Fut)38-40,Tgt 42/44,Sl 37

Buy WELSPUN GUJ 89-91,Tgt 94/102,Sl 87

Buy RELCAP 420-425,T 430/440,S 415

Buy JetAir,Sl 145

Tata Powers (Last closed = 633 ) Buy with stop loss below 618 tgt-655-660.

RELIANCE : Today Reliance Will try to Kiss 1120, Strong Resistance Zone....
If able to Cross 1120 then 1160 in Minutes only...
there after don't remain short..
Else
If breaks 1035 - 1070 then Free Fall.
Reliance going to be the Trend Decider for today

Buy CROMPTON GREAVES Above 119,TGT 123/125,Sl 115

GE SHIP : Buy above 165 keep stoploss at 161 and wait.

HCC : Buy above 40 keep stoploss at 39 upper targets 42, 43

RCOM : CMP NOV FUTURE 184.90

For today trading trend level exist at 184-186 levels.
On upper side above trend level resistance exists at 189,192,194,197 levels.
On down side below trend level expect sell off up to 180.80, 177.70, 175.80,171 levels.

SELL BHARTI AIR SL 615 TGT 579-566 FII WILL SELL HEAVILY BHARTI AIR

Sell ICICIBANK Target: 299,290

Sell DLF Target: 194,188

Sell HDIL Target: 80, 75

Sell HDFCBANK Target: 780,765

Sell STERLITE Below 195

SBI : Sell @ 1140/1150 or best @ 1145 with SL 1160 T 1090/1055

Tpower : Sell @ 65/51 with SL 675 T 625/610

LNT

Buy above 710 for targets of 716 & 723

Sell below 702 for targets of 696 & 690

Praj Ind.

Buy above 54.25 for targets of 56.30 & 58.80

Sell below 51.75 for targets of 49.10 & 47.90

Unitech

Buy above 35.60 for targets of 36.90 & 38.70

Sell below 33.80 for targets of 32.50 & 30.70

Scrip	Trigger	Price	Stop Loss	Target 1	Target 2
NATIONALUM	BUY ABOVE	159.05	157.60	160.80	163.30
	SELL BELOW	155.60	157.00	153.90	151.50
BHARTIARTL	BUY ABOVE	598.55	593.15	605.10	614.50
	SELL BELOW	585.50	590.80	579.05	570.10