Markets For 6-12-2008

SEBI

SEBI says positions in cash, F&O to be considered for cross-margining which will be applicable for all market participants. The cross-margining to the extent of positions offsetting in cash, F&O. The basket of positions in index stocks/future is eligible for cross-margining
This will help in improving the efficiency of the use of margin capital by market participants.This will also help market participants, especially arbitragers, to take an effective and dynamic trading position. It will help them to effectively use their margins in an efficient manner
The positions eligible for cross-margining benefits will be the following on priority, the index futures position and constituent stock futures position in the derivatives segment, index futures position in the derivatives segment and constituent stock position in the cash segment, stock futures position in the derivatives segment and the position in the corresponding underlying in the cash segment.

MARKET TODAY

NIFTY CASH

Resistance : 2695 / 2710 / 2730-45 / 2790 / 2815 / 2830-50

Support : 2650/ 2630 / 2590 / 2550 / 2605 / 2560 / 2530 / 2505

SENSEX

Resistance : 8860-90 / 8980-95

Support : 8660 / 8500 / 8545 / 8345

NIFTY FUT [BUY]

Resistamce : 2690 / 2735

Support : 2625 / 2590 / 2525

BANK FUT (C-4100.25)- [BUY: 4110-4120]

Resistance : 4170-85 / 4225 / 4260-70 / 4310

Support : 4045-30 / 3980-60-45 / 3815

MKT COMMENTS

NIFTY FUT OI down 2.55% with 5% increasing volumes indicating short covering plus forming of long position for BTST.

We expect NIFTY FUT to trade volatile with positive bias.

Yesterday Close @ 2657 and Bullish Hammer on Nifty Chart shows Upmove to continue.

Today....Once Nifty trades above 2750 with volume then Non-Stop Rally Up to 2900 and 3150 level

OR

If Unable to Cross 2750 then ...?????

US markets were up and rallied almost 3%.Europe was up on an average of 1.5%.Asia has opened positive.

F&O HIGHLIGHTS
FIIs net sell Rs 138 cr in Nifty Futures, net buy Rs 206 cr in Nifty Options
Nifty Futures shed 8 lakh shares in Open Int, at 5-point discount
Nifty Open Int Put-Call ratio at 1.05 Vs 1.03
Nifty 2500 Put adds 6.8 lakh shares in Open Int
Nifty 2600 Call adds 5.7 lakh shares in Open Int
Stock Futures add 1.8 cr shares in Open Int

->HUGE RESISTANCE AT 2900,MARKET NEEDS SOME GOOD NEWS LIKE RBI POLICY REVIEWS, INFLATION DATA AND STIMULUS PACKAGES TO CROSS 2900 LEVELS.
->RBI IS CLOSELY WATCHING INFLATION DATA TO REVIEW ITS POLICY RATES IN THIS WEEK.
->UNITECH IS HUGELY ACCUMULATED BY TRADERS LIKELY BURST IN THE SHORT TERM.
->RELIANCE INFRA LIKELY TO MOVE AS TRADERS AND FII PARTICIPATION IS MORE IN THE COUNTER.

Opening is flat to up,

Stay long above 2640,Sl Below 2630,Tgt 2700-2735-2745-2765.

Sustain below 2630,Sell with Sl above 2645,Tgt 2590-2530-2515-2410.

Buy BANK NIFTY DEC FUT 4110-4120,Tgt 4145/4200,Sl 4095

Buy Nifty2700CE above 150, Target: 170,200 SL: 142

Buy Reliance1140CA above 54, Target: 60, 68 SL: 48

Buy UNITECH Above 25,Sl 23,Tgt 27/28/29+

Buy GRASIM Above 905,Sl 890,Tgt 915/925/930++

MOSERBAER : Buy near 52 keep stoploss at 51 upper targets 55, 58 and more

IDFC : Buy above 52.50 keep stoploss at 51.5 upper targets 55-56, there after real fire

Buy WELSPUN GUJRAT Above 79

Buy Relinfra above 500,Tgt 510++

J.P.ASSOCIATES LOOKS HOT

Buy HIND CONS,@ 33-34,Tgt 36/38+,Sl 31

SBI(1040) : Buy @ 1000-1005,SL 985,T 1035/1045/1060

Buy DLF 185-188,Tgt 193/198,Sl 182
Buy PUNJ LLOYD 134-136,Tgt 139/142,Sl 131

Buy RANBAXY 202-204,Tgt 207/212,Sl 198

ESSAROIL buy Above73.target-75-76.sl-72

Buy BOB Above @ 245,Tgt 250-255-265,SL-240.

Buy CHENNPETRO Above @ 107,Tgt 110-115-120,SL-105.

Buy MCDOWELL Above @ 815 Tgt 840-870-885,SL-800.

BUY in Truck load ONMOBILE tommorow @ opening bell Tgt 250 - 290 Very Soon. BUY @ 196 SL 190 or BUY above 220 Tgt 250-290

Sell CIPLA Below @ 185,Tgt 180-175-170,SL-188.

Sell HLL Below @ 232,Tgt 228-220-210,SL-235.

Tata Power(643) Sell with stop loss above 659 tgt-630-610.

BHEL(1274) : Sell @1304/05,SL 1335,T 1260/1245/1235

RIL(1075) :Sell@1100-05,SL 1134,T 1050,if sustain below it then 1035/1020

Yesterday Reliance hit a Low of 1025 and Closed above 1070 which is above the Support level.

But Today if able to cross above 1120 level with Volume then Non stop Rally up to 1150 and 1180 on Card.

or Else..

If breaks again 1030 on the downside, means Reliance will Pull down the market in Single Hand. Stock may Retest its recent low of 930 very soon.

AXIS BANK

Buy Above 433,Sl 429,Tgt 438/445+

Sell Below 425,Sl 429,Tgt 419/413+

CAIRN

Buy Above 136,Sl 135,Tgt 137/140

Sell Below 134,Sl 135,Tgt 131/128

LNT

Buy Above 682,Tgt 690/698

Sell Below 675,Tgt 665/655/649,Sl 680

Aban Offshores

Buy Above 645,Tgt 651/656

Sell Below 632,Tgt 628/624

Unitech

Buy Above 26.1,Tgt 27.05/27.8

Sell Below 24.2,Tgt 23.6/23.1

Commodity	Contract	S2	S1	Ltp	R1	R2	View
Barley	April' 08	1000	1025	1044.2	1070	1090	Sell Below 1040 S/L 1050 and T/p 1020-1000 OR Sell Ard 1090-95 S/L 1100 and T/p 1080-70
Castor Seed	Dec' 08	552	556.5	562	569	578	Buy only Abv 565 S/L 562 and T/p 570-575 OR Sell Below 552 S/L 555 and T/p 546-544/540.5/536-34
Chilli	Dec' 08	5280	5330	5380	5430	5480	Sell Below 5340-30 S/L 5360 and T/p 5285-5250/5200 OR Sell Ard 5487-90 S/L 5500 and T/p 5450-30
Undecorded Cotton (Akola)	Dec' 08	419	426.5	431.7	436	442.5	Sell Below 428 S/L 431 and T/p 425-426.5/towards 420 OR Sell Ard 441.5-442 S/L 443 and T/p 438-435
Guar Gum	Jan' 09	3650	3700	3764	3810	3880	Sell only Below 3725 S/L 3740 and T/p 3700/Sustain Close Below 3700 towards 3500 in coming days OR Sell Ard 3850-60 S/L 3865 and T/p 3825-3780
Guar Seed	Jan' 09	1550	1562	1586	1605	630	Sell Below 1560 S/L 1575 and T/p 1550-40/towards 1510 OR Sell Ard 1612-15 S/L 1620 and T/p 1600-1590
Gur	Jan' 09	632	638	667	675	685	Buy Abv 670 S/L 663.5 and T/p 675-680 OR Sell Below 653 S/L 657 and T/p 645-640
Jeera	Jan' 09	10250	10400	10540	10650	10750	Sell Below 10400 S/L 10465 and T/p 10340-300-250/Sustain Below Down Rally OR Buy only Abv 10650 S/L 10600 and T/p 10725/Sustain Abv towards 10950 in coming days
Kapas SN	April' 09	466	473.5	480.4	486	498.5	Sell Below 475.5 & 473.5 S/L 478 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	836.5	847	857	Sell Below 832 S/L 838 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	10775	11086	11150	11300	Sell Ard 11260-275 S/L 11300 and T/p 11200-100 OR Sell Below 10950 S/L 11025 and T/p 10900-830, Sustain Abv 11300 avoid short sell
RM Seed Jaipur	Jan' 09	571.5	576.5	583.6	589	594.5	Sell Below 576 & 573 S/L 580 and T/p 570-567/Below Towards 561-557 OR Sell Ard 593.5-594 S/L 595 and T/p 590-585