WWW.SHAREBAZAARONLINE.BLOGSPOT.COM - Markets For 26-12-2008
NSE Index (C-2916.85)
Resistance : 2930 / 2955 / 2980 / 3000 / 3020-30 / 3095
Support : 2890 / 2860 / 2845 / 2805-795
BSE Sensex (C-9568.72) : Buying Expecting Once SENSEX Starts Trading Above 9660 , Till Then Be Stock Specific Only.
Resistance : 9575 / 9625-650 / 9685 / 9725-45 / 9830
Support : 9495 / 9440-425 / 9370 / 9285 / 9205
Nifty Future (C-2913.35)
Resistance : 2930 / 2950-65 / 2990 / 3005 / 3025
Support : 2890 / 2865
Bank Future (C-4910.50)
Resistance : 4965 / 5020
Support : 4880 / 4825 / 4745
MKT COMMENTS
NIFTY FUT OI up 32.57% with 17% increasing volumes indicating forming of short positions. For Intraday up move,
NIFTY SPOT need to sustain above 2960 levels.
Nifty has crossed 3100 level in two consecutive day (19 & 22 Dec) but unable to close above that level and started coming down in last three consecutive days. Which is clearly suggesting that there is no steam left as of now for Bull in the market.
In addition to this on weekly chart Nifty is now below last week’s low i.e. 2918 and it has formed long black candle which also suggest bear rally to continue in near term also. Last four days move has totally changed the trend of the market from Bullish to Bearish.
I would like to go short rather than long here (Positional Long only above 3130) only hope for long is much awaited second stimulus package in coming days may boost sentiments.
Opening is Flat to Up,
Stay Long Above 2945,Sl Below 2925,Tgt 2960-2985-3000-3015-3035,
Sustain Below 2905,Sell with Sl Above 2925,Tgt 2885-2860-2840-2810.
ACCUMULATE IFCI
Buy TATASTEEL Above 220,Tgt 225-227-230+,Sl 215
Buy STAR Above 88,Tgt 95-98-100,Sl 85
Buy BOB Above 265,Tgt 275-285- 310,Sl 260
Buy HPCL Above 280,Tgt 285-290-295-30,Sl 277
Buy VSNL Above 510,Tgt 520-530-535,Sl 505
Sell ZEETELE Below 135,Tgt 130-125-120,Sl 138
Sell ONGC Below 666,Tgt 655-635-630,Sl 675
Sell JPASSOCIAT Below @ 76,Tgt 74-70-65,Sl 79
Sell ROLTA Below 120,Tgt 115-110++,Sl 125
Sell BHARTI Below 680,Tgt 675-660,Sl 690
Buy GVK POWER,Around Rs.11-13
Buy CESC LTD,Around Rs.185-95
Buy JP ASSOCIATES,Around Rs.50
JANUARY FUTURE
Buy TATA CHEMICALS
Stock is Ready to Fly...
Expect some Good News &
UnExpected Movement on Card..
Target 165 & 175 on Card , Sl Below 145 On Closing Basis
BHARAT PETROLEUM(C-385.3 ) : Looking Strong
Buy Around 375-380,Tgt 390-395-400-405-410-415-420+++,Sl 370
APTECH LTD (C-94.3) : Looking Strong
Buy Around 90-95,Tgt 99-103+++,Support 86/78
WIPRO LTD (C-232.45) : Looking Weak
Sell Around 240-238,Tgt 222+++,Resistance 250/265
Sell ITC Around 175-173,Tgt 170-165+++,Sl 180 (Positional :Sl Above 185 On Closing Basis)
Free Fall Expected
Sell NALCO 180-178,Sl 184,Tgt 179-178-177-174-172-170-168-165 (
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