Mumbai Attacked
Domestic investors are unlikely to engage in panic selling after the terror strikes in Mumbai as local investors are well acquainted with terrorism, said Moody's
Economy.com, a global research subsidiary of Moody's Corporation.However, the terror strikes could have a greater impact on capital outflows due to the current liquidity crisis, said Nikhilesh Bhattacharyya, an associate economist in the Moody's Economy.com.
Raamdeo Agrawal of Motilal Oswal Securities said he doesn’t think these attacks pose a big economic issue. He said that the importance of FIIs is high as they will react and their travel plans will be affected.
Rakesh Jhunjhunwala Said I don’t have any sense of panic. I have seen this in the 1993 blast. I was myself in the BSE then. I think as a nation a killing of more than 100 people is not going to affect this country anyway. Having said that we have to take steps to have better security and at least hang those people who attacked our Parliament.It is difficult to predict but I would say that any fall in this market because of this attack is an opportunity. That is my personal view. The way the world market has rebounded, the Dow has gained continuously for four days, I am hopeful we will gain here also.
Anand Mahindra, VC and MD, Mahindra & Mahindra, said attacks were targeted at the nerve centre of the Indian economy. “The attacks were designed to create panic. Hope we find new ways to strengthen our security.”
Deepak Parekh, Chairman, HDFC, said the Mumbai terror attack will hurt investors sentiment.
KV Kamath, Managing Director and CEO, ICICI Bank, said Mumbai is resilient and business will bounce back. “This attack is a blow to business in general and shows that institutions of commerce are vulnerable.”
Rahul Bajaj, Chairman and Managing Director, Bajaj Auto, said there is a need for tougher laws to crack down on terrorism.
A M Naik, Chairman and Managing Director, Larsen & Toubro, said the company’s has kept its factories open to avoid a sense of panic. “I think this is the time where we stand by what we do well and don’t spread the panic more than what is already there.”
Mr. Manmohan Singh - Prime Minister Daid "The well-planned and well-orchestrated attacks, probably with external linkages, were intended to create a sense of terror by choosing high-profile targets"
Inflation for week ended November 15 at 8.84% versus 8.90%
Inflation for the week ended November 15 came in at 8.84% as against 8.90% in the previous week. Wholesale Price Index (WPI) for all commodities stood at 235.1, up 0.04% on week-on-week basis..September 20 inflation revised to 12.13% from 11.99%.
MKT COMMENTS
NIFTY FUT OI (both series) up with increasing volumes indicating forming of long positions in next series.
We expect NIFTY FUT to trade volatile due to Expiry.
FIIs were net sellers of Rs4.1bn (provisional) in the cash segment today while the local institutions pumped in Rs3.62bn. On Tuesday, the foreign funds were net buyers of mere Rs13mn in the cash segment. Mutual Funds net bought Indian shares worth Rs1.18bn on the same day.
Market View –27.11.2008
Opening is flat to up,
NIFTY
Buy Abv 2720,Sl Blw 2705,Tgt 2745/40-2765/90-2815-2840/50-2895-2900-2945-3040-3135
Sell Blw 2705,Sl Abv 2720,Tgt 2680/70-2640-2610/600-2595/80-2450.
" Triangle "
In Spite of Mumbai Terror Attack, We Don't know how far this Technicals works today.Wednesday Recover on Later part of the day and Triangle formation on chart indicates bullishness.But if Today after the Attack on Mumbai if Nifty breaks 2580, then free fall may continue.
Nifty in upmove , with probable sideway trend
Mrkt may be volatile due to expiry
Rumours : Please do not short sell today as Domestic funds will be forced to BUY today in the late hour of trading. Remember it is the last day for NAV manipulation.
The nearest resistance for Dow comes at 8770 and 8860. The Support for Dow comes at 8600 – 8300 – 8200. The way US is fighting using the bailout packages would save lot of sleep for us.
Expect a dull trade on Friday if market opens.
NSE Index (C-2752.25)
Resistance : 2770 / 2790-800 / 2830-40 / 2865-75 / 2915 / 2960-80 / 3120
Support : 2720-05 / 2675-50 / 2630-20 / 2595-75 / 2520
BSE Sensex (C-9026.72)
Resistance : 9160-70 / 9290 / / 9320-90 /9420-40 / 9580 / 9650
Support : 8915 / 8860 / 8770-45 / 8600 / 8550-500 / 8400
Nifty Future (C-2757.85)
Resistance : 2790 / 2830 / 2850-60
Support : 2725 / 2680-70 / 2595
Bank Future (C-4271.00)
Resistance : 4385 / 4500
Support : 4190 / 4075 / 3880
Stock specific counters like Bharti Airtel, Bhel, Hindalco, ITC, Jindal Steel Power, NTPC, ONGC, RelInfra and SAIL are showing positive divergence, one can look to buy on dip with a minimum stop-loss on a trading basis
Buy
Buy IVRCL INFRA ABOVE 135
Keep eyes on Tata motors
Buy GMR INFRA Abv 55-566,Tgt 60-62,Sl 53
BUY Bank stocks : Kotak Bank,Union Bank
Buy Power stocks : Rel.Infra,NTPC,TataPower
Tata Powers (Last closed = 656 ) Buy with stop loss below 640 tgt-668-680.
ABB : Buy above 445,Sl 440,Tgt 460-465++
CENTURY TEXTILES : Buy above 135,Sl 130,Tgt 138-140-145
STER CMP NOV FUTURE 230.25
Buy If Crossover & Sustain Above 232,Tgt 240/245/250/260,Sl Below 225
CIPLA : Buy Above 193,Tgt 197/200/205++,Sl 190
ICSA : Buy Above 178,Tgt 180/185/190++,Sl Below 175
Buy ASIANPAINT Above @ 895 Target 905-920-925,SL-890.
Buy BIOCON Above @ 99 Target 101-104-105,SL-97.
Buy GRASIM Above @ 920 Target 940-965-980,SL-910.
BUY :
SUZLON above 44
RANBAXY above 220
RPL above 78
SATYAM above 240
Earn 5 to 10%
Buy BHARAT FORGE 82-83,Tgt 85/90++,Sl 80
Buy REL CAPITAL 430-35,Tgt 445/465++,Sl 425 (Resistance:465/480;Support:440/420)
Buy IBREALESTATE 84-86,Tgt 88/91++,Sl 82
Buy RIL DEC FUT 1085-1090,Tgt 1125/1175,Sl 1075
L&T (750.55): Sell @ 765/775 or At @ 768-70 with SL 780 TGT 750/740
RIL(1137) : Sell @ 1165-75,Sl 1210,TGT 1135/1130/1115/1100 ,If close below 1115 then more correction next day
Resistance @ 1150, 1170, 1200
Support @ 1030 - 1070
Sell M&M Below @ 264 Target 258-246 to 244.SSL-270.
Sell MCDOWELL-N Below @ 822 Target 801-770 to 760.SSL-835.
Sell TATACHEM Below @ 138 Target 136-132 to 125.SSL-140.
Sell SIEMENS Target: 225,220
MARUTI
Buy Above 537.5,Tgt 540/545/550++,Sl 532
Sell Below 525.8,Tgt 520/515/510++,Sl 531
SBI
Buy above 1115 for targets of 1125/1135
Sell below 1100 for targets of 1085/1075
LNT
Buy above 757 for targets of 765/780
Sell below 742 for targets of 730/725
UNITECH
Buy above 26.20 for targets of 27.3/28.55
Sell below 23.10 for targets of 22.5/21.9
TCS
Buy above 530 for targets of 540/550
Sell below 515 for targets of 505/495
ONGC
Buy above 705 for targets of 715/725
Sell below 697 for targets of 690/685
STERLINBIO
BUY ABOVE 210,Sl 206,Tgt 220/233
SELL BELOW 203,Sl 207,Tgt 195/186
NTPC
BUY ABOVE 165,Sl 160.5,Tgt 169/174
SELL BELOW 159,Sl 161,Tgt 156/147
BPCL
BUY ABOVE 352,Sl 343,Tgt 359/368
SELL BELOW 341,Sl 345,Tgt 336/325
HDFC BANK
Buy Above 910 Target: 925,940
Sell Below 905 Target: 890,880
BANK
Buy Above 244.5,Tgt 247/250++,Sl 242
Sell Below 239.2,Tgt 236/230++,Sl 242
Positional
IVRCL INFRASTR & PROJECTS (C-136.15): Looking Strong: Buy around 130,Target-145+++,Support-120/105
NTPC - DEC FUT(C-163.15): Looking Strong: Buy around 159/160,Target-169+++, Support-155/145
TATA POWER DEC FUT (660.25) : Sell @ 670-80,SL 690,TGT 660/650/645/640/620
REL DEC FUT(C-523): Looking Strong: Buy around 510/515,Target-538+++,Support-495/470
SIEMENS LTD (C-223.7): Looking Weak: Sell around 240/235,Target-204,Resistance-255/295
Buy ITC(172) Near 165-170,Tgt 170/180/185,Sl 160
Buy KESORAM(137) Near 135,Tgt 145/150/160,Sl 130
Buy LUPIN(571) Near 555-560,Tgt 585/595,Sl 540
Sell BALRAMPURCHINI(33) Near 33,Tgt 30/25,Sl 40
Sell WELSPUNGUJ(87) Near 90,Tgt 80/75/70,Sl 100
Buy Nifty2700PE@147 and Buy Nifty2700CE@215 December series.
MCX
Gold --- For the week>>>> On downside break and close below $796-795 (only below 796/95) will take to $750 soon.
Upside strong resistance at $825 & $845. On downside support area is at $815 & $795. Gold in shorter period will take support at $750.
Gold Dec08 Sell Around 13200,Sl Above 13330,Tgt 12850++
Copper --- Will face resistance at 195. Below this level Copper will test 186.
Buy Around 188,Sl 184,Tgt 193/196++
Silver --- Try to get out of long positions at higher level
Silver Dec08 Buy Around 17000,Sl Below 16775,Tgt 17500++
CrudeOil --- Dec08 Buy Around 2540,Sl Below 2500,Tgt 2600/2650++
Zinc --- Dec08 Sell Around 60-61,Sl Above 63,Tgt 58++
Lead --- Dec08 Sell Around 60-61,Sl Above 62,Tgt 58/57++
NCDEX
| Commodity | Contract | S2 | S1 | Ltp | R1 | R2 | View |
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| Barley | Dec' 08 | 1000 | 1020 | 1029.6 | 1050 | 1065 | sell below 1030 S/L 1040 and T/p 1020-1000 OR sell ard 1058-60 S/L 1065 and T/p 1045-40 |
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| Castor Seed | Dec' 08 | 540.5 | 547 | 551.9 | 557 | 562 | sell below 547 S/L 549.5 and T/p 542.5/540.5/upto 536 OR buy only abv 560 & 562 S/L 557 and T/p 565-570 |
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| Chilli | Dec' 08 | 5230 | 5310 | 5370 | 5460 | 5500 | Fresh sell below 5370 S/L 5400 and T/p towards 5280-50 OR sell ard 5485-95 S/L 5500 and T/p 5450-30 |
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| Undecorded Cotton ( | Dec' 08 | 431.5 | 435.5 | 438.3 | 444 | 450 | sell only below 436 S/L 439.5 and T/p 432/below towards 425 OR sell ard 448.5-449 S/L 450 and T/p 447-44 |
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| Guar Gum | Jan' 09 | 3750 | 3840 | 3889 | 3930 | 4000 | Fresh sell below 3840 S/L 3860 and T/p 3815/3770-50/below down rally OR sell ard 3988-95 S/L 4000 and T/p 3950-40 |
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| Guar Seed | Jan' 09 | 1565 | 1585 | 1616 | 1635 | 1650 | sell only below 1585 S/L 1597 and T/p 1565/1540 OR sell ard 1644-45 S/L 1650 and T/p 1635-30 |
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| Gur | Dec' 08 | 613.5 | 620 | 633 | 635 | 645 | No View |
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| Jeera | Jan' 09 | 10250 | 10375 | 10492 | 10600 | 10675 | buy abv 10650-675 S/L 10600 and T/p 10730/towards 10850-950 in coming days OR buy ard 10270-75 S/L 10250 and T/p 10350-400 |
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| Maize | Dec' 08 | 800 | 807 | 821.5 | 825 | 835 | sell below 815 & 807 S/L 825 and T/p 800/towards 785 OR sell ard 835-37 S/L 840 and T/p 824-815 |
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| Pepper | Dec' 08 | 10675 | 10850 | 10993 | 11200 | 11350 | Fresh sell below 10850 S/L 10950 and T/p 10750-675/10550/below down rally sharp OR buy abv 11200 S/L 11100 and T/p 11300-350 |
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| RM Seed Jaipur | Jan' 09 | 555 | 561 | 568.1 | 575 | 583 | sell below 567 S/L 570 and T/p 564-561/558.5/556/sustain below test 550-545 atleast OR sell ard 574.5-575 S/L 576 and T/p 570-565 |
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