Markets Weekly & Intraday For 1-12-2008

Weekly Trend (01-12-2008 to 05-12-2008) Volatile and Mix

NSE Index (C-2755.10)

Resistance : 2820 / 2850 / 2885 / 2915 / 2950

Support 2725 / 2660-75 / 2630 / 2570 / 2510 / 2495

BSE Sensex (C-9092.72)

Resistance : 9300 / 9385 / 9510 / 9720

Support : 8975 / 8770 / 8440 / 8240

Nifty Future (C-2756.25)

Resistance : 2835 / 2910

Support : 2730 / 2655 / 2555

Bank Future (C-4288.05)

Resistance : 4440 / 4585

Support : 4215 / 4065 / 3850

Simple Moving Averages -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2713	2679	2768	2830	3055	3281	4317

I see a stiff resistance at 2950 now as its between 20D - 39D moving averages.

Short covering can come between 2450 - 2620.

Selling preasure can come between 2850 -3000 points

Sensex is showing much more strength than NIFTY.

As indicated NIFTY is on way to make a 'W pattern' and was able to close higher on "Week to Week" basis amidst all the disturbances, though the required volume break out for the said pattern did not happen due to lot of uncertainties on account of Terrorist Attacks.

For the week NIFTY needs to break above the 2835 zone with better volumes for the pattern to continue its course. The immediate resistance for the NIFTY will be at 3240(Neckline of the 'W pattern') to 3500 and support lies between 2630-2495 zone.

NIFTY FUTURES December:- Trade within the range of 3027 - 2223

Street Talk

* PROMOTERS OF SUBEX, GEOMETRIC, TECH MAHINDRA , SONATA , SASKEN, MINDTREE , MASTEK, KPIT CUMMINS, NIIT, ZENSAR, POLARIS, MINDTEK ARE ACCUMULATING AND INCREASING THEIR STAKES IN THE COMPANIES DUE TO ATTRACTIVE VALUATIONS AND GOOD PROFITS , CONFIDENCE IN THESE COMPANIES.
* RBI LIKELY TO EASE MONETARY POLICY IN THIS WEEK AFTER WATCHING INFLATION DATA.
* THE PORTFOLIO CHANGE OF FINANCE MINISTRY TO PM MAY TAKE MARKET U-TURN AND AS THE PM IS THE BEST ECONOMIST IN THE COUNTRY.

* Despite the promoters of Elecon Engineering buying decent quantities daily from the open market, its share price is still not moving up. Is it genuine buying or just a transfer of stake?
* L&T Capital continues to increase its holding in Kalindee Rail. Keep a close watch and buy at sharp declines.
* When the outlook was robust, SEAMEC vessels were under dry dock repairs. But now when they are ready for deployment, the outlook has suddenly turned gloomy as its customers are going bankrupt. Stay away from this counter.
* Torrent Cables was basically hit by rising input costs. So now that aluminium, copper and other metal prices have corrected sharply, it may see a sharp turnaround. Aggressive investors can keep accumulating at declines.
* Deepak Fertilisers is likely to post an EPS of about Rs.20 in FY09 and Rs.25 in FY10. Some analysts recommended it with a target price of Rs.80 in six months.
* Based on its Q1FY09 net profit of Rs.10.5 cr., which jumped 50% over Q1FY08, Technocraft Industries is all set to post an EPS of Rs.18. The share is going cheap considering its strong fundamentals and strong book value of Rs.116. The share may cross the Rs.75 mark.
* Orient Abrasives is a strong bonus candidate. It is all geared to post an EPS of Rs.6 in FY09 on its small equity of Rs.6 cr.P/E just 2.4.

NIFTY WEEKLY STRATEGY:
BUY ON NIFTY FUTURES ABOVE@2825,SL@2770,TGT@2950/3025

OR

BUY@2725,SL2630,TGT 2830-50,2930-50,3025-65.

Or

Buy Above 2790,Tgt 2735/2850,Sl 2740

Sell Below 2740,Tgt 2710/2685/2665

Nifty resistance seen at 2900-2950

NIFTY

Above 2780,will see some bullish pattern
Below 2700,expect weakness & may retest 2510

abv2790tgt2735/2858sl2739
bel2741tgt2712/2685/2662

Real Bull Power above 2780 - 2790.
But Bear will try to take control between 2830 - 2860.
There after 2900 and 3150 Non-Stop Rally.

Strong Support @ 2700, 2650, 2600 and 2580.
Strong Resistance @ 2790, 2830, 2860 and 2900

INTRADAY : 01-12-2008

Daily NSE Index (C-2755.10)

Resistance : 2800 / 2830 / 2880

Support : 2740 / 2700-2720 / 2630-50

BSE Sensex (C-9092.72)

Resistance : 9205 / 9315

Support : 9040 / 8935 / 8775

Nifty Future (C-2756.25)

Resistance : 2800 / 2830

Support : 2745 / 2710 / 2665

Bank Future (C-4288.05)

Resistance : 4340 / 4390

Support : 4265 / 4215 / 4140

Unitech

Buy Above 23.50,Tgt 24.9/26.10

Sell Below 21.30,Tgt 20.90/20.05

KSK Energy Ventures.

Buy Above 156,Tgt 159/162

Sell Below 149,Tgt 146/143

Grasim Ind.

Buy Above 905,Tgt 912/918

Sell Below 879,Tgt 871/865

Century Textile.

Buy Above 135,Tgt 137/139

Sell Below 131,Tgt 128/125

HDFC

Buy Above 1485,Sl 1473,Tgt 1502/1525+

Sell Below 1454,Sl 1467,Tgt 1437/1415+

HCL TECH

Buy Above 139,Sl 138,Tgt 140/142+

Sell Below 136,Sl 137,Tgt 134/132+

Voltas Ltd.

Buy Above 51.25,Tgt 52.5/53.9

Sell Below 48.9,Tgt 47.5/46.9

BANK OF INDIA

Buy Above@252,Tgt@260,Sl@248

Sell Below@247

Buy SBIN above 1100, Target: 1110, 1125 SL: 1094

Buy HDFCBANK above 932.5, Target: 944,960 SL: 927

Buy LT above 736, Target: 744,755 SL: 730

Buying Expected In ABB Above 445-446

JP ASSOCIATES Buy Abv 58,Tgt 62/64,Sl 55

PRAJ LOOKING HOT AND FIERY

NTPC : CMP DEC FUTURE 158

For today trading consider 160,163 levels as resistance. On down side below 157.50 expect sell off up to 155.80, 154.20, 153.15,151 levels.

TCS (558.05) : Sell @ 575/80,SL 585 T 559 / 551 / 547

MARUTI ( 535.85) : Sell @ 550 with SL 558 T 533 / 528 / 523

HDFC LTD (C-1469.45): Daily Chart Looking Strong

Buy around 1442 Target1-1513,Support1-1398-Support2- 1326

TCS (C-559.4 ): Daily Chart Looking Strong

Buy around 548.50 Target1-579, Support1-529 -Support2-498

SIEMENS LTD (C-224.25): Weekly Chart Looking Weak

Sell around 245 Target1-192,Resistance1-278-Resistance2-332

SUZLON(C-41.65): Weekly Chart Looking Weak

Sell around 43.50 Target1-36,Resistance1-49-Resistance2-56

JSW STEEL (BUY ) 184-186 (Target1) 192(Target2) 198 (Sl) 180

Buy DIVISLAB around 1200,Target 1300,SL1149 Close:- 1226

Buy KFA above 28.50,Target35,SL 24.90 Close:- 27.65

Buy ANDHRABANK around 53,Target 65,SL 48 Close:- 55

Buy BHARTI AIRTEL LIMITED (SUPPORT--622----RESISTANCE--771)

Buy HDFC BANK LIMITED (SUPPORT--856----RESISTANCE--1152)

REL CAPITAL (BUY ) 438-440 (Target1) 448 (Target2) 465 (Sl) 434

Buy BAJAJAUTO Above @ 324 Target 333-343 to 348.SSL-319.

Buy HEROHONDA Above @ 805 Target 839-872 to 889.SSL-791.

Buy STER Above @ 239 Target 251-265 to 271.SSL-233.

Sell VSNL Below @ 391 Target 382-369 to 365.SSL-397.

Sell JETAIRWAYS Below @ 129 Target 125-120 to 118.SSL-132.

Sell GUJAMBUJA Below @ 51 Target 50-47 to 42.SSL-53.

POSITIONAL

BUY PATNI@132 SL 128,

UNIONBANK@144 SL 142,

ANDHRABANK@52.50 SL 51,

MTNL@73 SL 72

Buy with a stop loss of 72.30 for a Target of 75.50 and 78.
above 78 stocks will Zoom to kiss 85 level in Hrs only.

BUY RCOM TGT OF 210/240 ,

BUY PRAJ INDS TGT OF 65,

BUY SESAGOA ABOVE 72.50

VALUE BUY:

Greaves Cotton

Cmp-72,Book value 75,p/e 3.6,eps 21,divi yield 8.3 our target 136. up side 88%

SHORT TERM

BUY ANDHRA BANK SL 49 TGT 64-10%

BLASTING IN SINGLE DAY.OTHER STOCK ARE ON OUR RADAR BHARTI,CIPLA,HDFC BANK,HERO HONDA.

EDUCOMP (SELL ) 2190-2200 (Target1) 2165 (Target2) 2075 (Sl) 2220

TATA FUT (BUY ) CMP (Target1) 555 (Target2) 570 (Sl) 520

NCDEX

Commodity	S2	S1	Ltp	R1	R2	View
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
Castor Seed Dec’08	534	540.5	548	555	562	Sell below 544 S/L 547 and T/p 540.5/536-34 OR Buy only Abv 560 & 562 S/L 557 and T/p 565-570
Chilli Dec’08	5310	5350	5424	5475	5580	Sell below 5365 & 5350 S/L 5385 and T/p 5280-5250 OR Sell ard 5515-25 S/L 5530 and T/p 5485-70
Undecorded Cotton (Akola) Dec’08	419	431.5	437.5	442.5	450	Sell below 432 S/L 435 and T/p 430/towards 425 OR Sell ard 448.5-449 S/L 450 and T/p 447-44
Guar Gum Jan’09	3750	3840	3910	3940	4000	Sell below 3860 & 3840 S/L 3885 and T/p 3815/3770-50/below down rally OR Sell ard 3988-95 S/L 4000 and T/p 3950-40, Sustain Abv 4000 avoid short sell
Guar Seed Jan’09	1585	1610	1630	1655	1670	Sell below 1610 S/L 1620 and T/p 1585/1565/1540 OR Sell ard 1662-65 S/L 1670 and T/p 1648-1635
Gur Dec’08	620	628	635	642	650	No View
Jeera Jan’09	10250	10375	10520	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
Maize Dec’08	800	807	819	830	845	Sell below 815 & 807 S/L 822 and T/p 800/towards 785 OR Sell ard 835-37 S/L 840 and T/p 824-815
Pepper Dec’08	10875	11050	11180	10225	11350	Buy only abv 11225 S/L 11150 and T/p 11300-350 OR Sell below 10950 S/L 11050 and T/p 10875-800/below towards 10575-600
RM Seed Jaipur Jan’09	566.5	572.5	579.75	583	594.5	Sell below 573 S/L 576 and T/p 570-567/towards 561-557 OR Sell ard 593-594 S/L 595 and T/p 590-585