Markets For 02-12-2008

US markets yesterday tumbbled very badly is down an average of 7%.

Europe was down on an average of 5%.

Asia is bond to open low.

Indian markets will have a gap down to flat opening today.

MKT COMMENTS

NIFTY FUT OI up 4.33% with increasing volumes indicating not only unwinding of long positions but forming of short positions too.

Gap down opening possible,NIFTY FUT to trade negative with volatility.

NIFTY

Support : 2665-45/2620/2585-65/2540

Resistance : 2730/2780-90/2820-40/2875-90

SENSEX

Support : 8835/8700/8670-50/8610/8530/8465

Resistance : 9175-95/9330/9515/9780

NIFTY FUTURE

Supports : 2630-05/2580/2555-45

Resistances : 2735/2775-90/2805/2910

We said for the Nifty Spot that if give closing above the level of 2795 then up move can get & market crossed this level between 3 to 4 days but unable to close, so immediate trend of the market went to bearish & now level of 2505 will be the very crucial. If Nifty goes to break this level in the below level it can retest the low of OCT. 08.

Tuesday,Opening is flat to down,

Stay Short Below 2720,Sl Above 2730,Tgt 2630/15-2565-2540-2350.

Buy Above 2720,Sl Below 2710,Tgt 2790-2805-2890-2915

Today if Breaks 2630 - 2640 range with Volume, Expect Free Fall and We recommend to Exit All Your Longs.

INTRADAY

Mphasis Ltd.

Buy above 168,Tgt 171-175

Sell below 156,Tgt 152-149

CESC Ltd.

Buy above 214,Tgt 217-220

Sell below 204,Tgt 200-195

Aditya Birla Nuvo.

Buy above 504,Tgt 508-515

Sell below 494,Tgt489-485

RNRL

Buy above 41.10,Tgt 41.9-42.35

Sell below 39.95,Tgt 39.2-38.60

BPCL

Buy Above 370,Tgt 375-380,Sl 366

Sell Below 363,Tgt 358-352,Sl 366

BANK INDIA

Buy Above 243,Tgt 245-250,Sl 241

Sell Below 239,Tgt 236-232,Sl 241

Tata Powers (Last closed = 646) Sell with stop loss above 656 tgt-635-626

Sell RCOM,Sl 206,Tgt 191-186-183

Sell PUNJLLOYD,Sl 143,Tgt 133-129-126

Short M&M below 272, Tgt 250, S.L 280

Short Educomp Solutions S.L 2235, Tgt 2106-2022

Sell BAJAJAUTO Below 306,Tgt 296-282-278,SL 311

Sell ASIANPAINT Below 865,Tgt 848-817-810,SL 879

Sell CHENNPETRO Below 105,Tgt 103-100-99,SL 107

Sell GAIL Below 199,Tgt 196-190-179,SL 202

Sell NATIONALUM Below 169,Tgt 163-157-154,SL 172

Sell Ranbaxy Below 199,Tgt 195/190/185,Sl 200

Sell SUZLON Below 39,Tgt 35/33/30,Sl 40

Buy MTNL Above @ 74 Tgt 76-78-82,SL 72

Sell PNB Dec Fut @ 415-20,Sl 430,Tgt 412-409-405-399-395-393-386-380 (Lot Size = 600)

Buy DRREDDY Dec Fut 445-50,Sl 435,Tgt 449, 451, 453, 458, 462, 466, 470 (Lot Size = 400)

Sell HDFCBANK below 870, Target: 850,825 SL: 875

SATYAM (235.85) : Sell @ 240 +243 with SL 247 T 234 + 230 + 227

Ril (1109) :

Sell @ 1135 with SL 1158 T 1099 + 1082 +1069 , below it can T 1050

OR

Sell RELIANCE below 1090, Target: 1065, 1040 SL: 1095

TPower (646.05) : Sell @ 654 +664 or best @ 658 with SL 674 T 640 +632 if same day sustain below it then 621 next day

Selling Expected In ROLTA Below 165/164

Sell ADLABS Below 148,Tgt 141/138,Sl 151

RNRL :

Chart Says Partial Rise Pattern...Highly Bearish..
Today if Trades above 43 then Bulls will have Upper hand,
or else..
101% Go Short with a stop loss of 43and Mint unexpected Money

Sell SBIN below 1040, Target: 1028, 1015 SL: 1044

Sell LT below 690, Target: 680,665 SL: 694

Sell DLF below 174, Target: 165, 160 SL: 177.5

Sell NIFTY2800CE below 90, Target: 70, 50 SL: 94

NCDEX

Commodity	Contract	S2	S1	Ltp	R1	R2	View
Barley	Dec' 08	1000	1020	1041.8	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	544	549	553	555	562	Sell below 546 & 544 S/L 549 and T/p 540.5/536-34 OR Buy only abv 560 & 562 S/L 557 and T/p 565-570
Chilli	Dec' 08	5180	5285	5342	5430	5480	Sell below 5330 S/L 5360 and T/p 5285-5250/5200 OR Sell ard 5465-70 S/L 5480 and T/p 5430-5400
Undecorded Cotton (Akola)	Dec' 08	426.5	431.5	434.9	442.5	450	Sell below 432 S/L 435 and T/p 430/towards 425 OR Sell ard 446-447 S/L 447.5 and T/p 444-42
Guar Gum	Jan' 09	3750	3800	3824	3880	3925	Sell below 3800 S/L 3820 and T/p 3770-50/Sustain close below 3750 towards 3500 in coming days OR Sell ard 3915-20 S/L 3925 and T/p 3880-60
Guar Seed	Jan' 09	1565	1585	1602	1620	1640	Sell below 1590-85 S/L 1602 and T/p 1565/1540 OR Sell ard 1632-35 S/L 1640 and T/p 1618-10
Gur	Dec' 08	653	659	663.6	666	675	Buy only abv 666 S/L 663 and T/p 670-675 OR Sell below 653 S/L 656 and T/p 645-640
Jeera	Jan' 09	10250	10350	10422	10550	10650	Sell below 10350 S/L 10410 and T/p 10300-250/Sustain below down rally OR Sell ard 10635-650 S/L 10660 and T/p 10575-540
Kapas SN	April' 09	466	473.5	479.2	486	498.5	Sell below 473.5 S/L 476 and T/p 467-66/462.5/Below down rally OR Buy only abv 486 S/L 483.5 and T/p towards 494-498 in coming days
Maize	Jan' 09	820	832	837	847	857	Sell below 835 & 832 S/L 841 and T/p 827.5/820/814/Below down rally OR Sell ard 852-54 S/L 858 and T/p 845-40
Pepper	Jan' 09	10650	10800	10916	11100	11225	Sell only below 10800 S/L 10925 and T/p 10700-650/Sustain close below 10650 towards 9800 in coming days OR Sell ard 11145-60 S/L 11175 and T/p 11090-11000
RM Seed Jaipur	Jan' 09	571.5	578.5	586.1	594.5	605	Sell below 578.5 S/L 581.5 and T/p 574.5/570-567/Below towards 561-557 OR Sell ard 593.5-594 S/L 595 and T/p 590-585