Markets For 04-12-2008

On Thursday Opening is flat to up,

If Nifty Future crosses the level of 2655 then it can go up to the level of 2685/2700/2730/2745(Sl Below 2635);

But if Nifty Future go to break the level of 2640-30 then it can go below the level of 2610/2585/2570-60/2545/2470/2420(Sl Above 2650).

MKT COMMENTS

NIFTY FUT OI down 0.93% with 3% decreasing volumes indicating unwinding of long positions.

For Intraday up move, NIFTY SPOT need to trade above 2690 levels. We expect NIFTY FUT to show down move with volatility.

ALERT: 2600 becoming a very imp zone & weakness or close below this can invite long unwinding.

NEAR 2690 PROFIT BOOKING MAY COME AND AT 2735 SHORTS WILL BE CREATED

NSE Index (C-2656.45)

Resistance : 2690 / 2700 / 2735 / 2750 / 2790 / 2835

Support : 2650 / 2615-600 / 2570 / 2540 / 2500

BSE Sensex (C-8747.43) : The market is seen range bound and now seen to be free from it

Resistance : 8870-90 / 8980-9000

Support : 8735 / 8615 / 8530 / 8480 / 8400

Nifty Future (C-2654.00) : Nifty has to Cross Above 2655 & able to close above from this level we can see some relief. Traders will trade accordingly.

Resistance : 2670 / 2685 / 2705 / 2725

Support : 2640 / 2620 / 2600 / 2575-65 / 2540

Bank Future (C-4224.30) : The index recovered most of the losses. Likely to seek higher level. Positive Upmove tried many times.

Resistance : 4300 / 4375

Support : 4175 / 4100 / 3980

CNXIT: The index lost ground but gas closed close to the high of the day. Can extend gains. Stay on the positive side.

TATA MOTORS

Buy Above 134,Sl 133,Tgt 136-138+

Sell Below 132,Sl 133,Tgt 130-128+

HCL TECH

Buy Above 121,Sl 120,Tgt 123-125

Sell Below 119,Sl 120,Tgt 117-115

Axis Bank: - The stock is trading in a range with a positive bias and it breaking above its earlier highs and is looking to test 450/465 levels as a result of that. Traders may remain long. Buying level in this counter is between Rs 420 & Rs 430. Keep a Stoploss of 405 levels.

Buy LITL above 118

Buy SBI above 1105

Keep eyes on Powergrid, SBI.

Buying Expected In KOTAK MAHINDRA Above 336

Buy RANBAXY Above 205,Tgt 210/215/220,Sl 200

Buy MARUTI Above 485,Sl 480,Tgt 490-495-500

Buy SUZLON Above 37,Sl 35,Tgt 40-41-42+

Tata Power(648)Buy,Sl below 635,Tgt-660-670

Buy MCDOWELL Above @ 860,Tgt 880-905-920,SL-845

Buy STER Above @ 235,Tgt 242-248-255,SL-230

Sell ACC Below @ 400,Tgt 395-385-380,SL-405

Sell BPCL Below @ 355,Tgt 350-345-340,SL-359

Sell CIPLA Below @ 182,Tgt 179-175-165,SL-185

Sell NATIONALUM Below @ 167,Tgt 165-158-145,SL-170

TATA TEA : Buy above 540 keep stoploss at 530 once starts above 550 fire to 560, 580

IDFC : Above 55 minor hurdles 56.25 there after fire to 59-60 keep stoploss at 53.50

BALRAMCHINI : CMP DEC FUTURE 34

For today trading consider 33.40, 32.90, 32.15 levels as supports. On upper side above 34.30 can go up to 35.10, 35.85,37 levels.

JINDAL STEEL POW(C-778): Looking Strong: Buy around 770 Target1-810& MORE++++,Support1-738 -Support2-698

SUN TV LIMITED (C-172.55): Looking Strong: Buy around 166 Target1-185 & MORE++++,Support1-153 -Support2-133

HCL TECHNOLOGIES(C-120.2): Looking Weak: Sell around 122 Target1-115 & MORE++++,Resistance1-128-Resistance2-135

MAHINDRA & MAHIN (C-243.2): Looking Weak: Sell around 244 Target1-234 & MORE++++,Resistance1-254-Resistance2-264

SELL BOB FUT,SL 255,TGT 240-35

Buy Silver