Markets Weekly For 21/12/2009 To 25/12/2009

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THE WEEK THAT WAS

Weekly wrap…Sensex, Nifty drift 2% each

Sensex lost 2.3% to end at 17,720 while the Nifty fell 2.5% to shut shop at 4,988.

Bears seem to tighten their grip over the Indian bourses, which was otherwise quite lackluster. The Nifty lost nearly 4% from its 52-week high, which it rose to during the previous week. Murky economic outlook, worry of soaring food prices and possible interest rates hike continued to weigh upon the sentiment. For the week, the BSE Sensex lost 2.3% to end at 17,720 while the NSE Nifty fell 2.5% to shut shop at 4,988.

The BSE Sensex hit an intra-week high of 17,275 and low of 16,899 while the NSE Nifty hit an intra-week high of 5,156 and low of 4,979.

The Top Gainers : The top gainers in the Sensex were Ranbaxy Labs (up 6.5%), ACC (up 5.5%), Cipla (up 4.7%), Wipro (up 4.7%) and Tata Motors (up 3.1%).

The Top Losers : The top losers in the Sensex were HDFC Bank (down 6.8%), DLF (down 6.7%), ICICI Bank (down 6.4%), Reliance Industries (down 5.9%) and SBI (down 5.3%).

OBSERVATION :-

1) Total OI of NIFTY FUT down 1.61% NIFTY DEC FUT down 2.44% last week. 6 points discount decreased to 1 point discount (+5 points) compare to NIFTY SPOT last week.

2) Out of NIFTY 50 STOCK FUTS, 13 STOCK FUTS closed positive, 28 STOCK FUTs closed negative and 9 STOCK FUTs close flat last week.

3) OI of current series 5000 CE is up 48.05% prices down 58.17% showing call writing. OI of current series 5100 CE is up 66.45% prices down 69% showing aggressive call writing. OI of NIFTY 5100 CE is 77.19 LK highest OI in CALLs.

4) OI of current series 5000 PE is down 13.76% prices up 22.20% showing short covering plus buying. OI of current series 5100 PE is down 43.11% prices up 35.91% showing profit booking. OI of NIFTY 4900 PE is 49.37 LK highest OI in PUTs.

5) Total OI of NIFTY DEC series CALLs is up 43.06 LK to 3.95 CR, DEC series PUTs is down 37.03 LK to 4.43 CR. NIFTY DEC series PCR (OI) at 1.12 down by 0.24 points last week.

NIFTY (4987.70)

Resistance : 5050 / 5105 / 5180 / 5250

Support : 4925 / 4860-50 / 4790 / 4725

SENSEX (16719.83)

Resistance : 16865 / 16985 / 17140 / 17365 / 17515

Support : 16665 / 16560 / 16385 / 16155 / 15915 / 15750

NIFTY FUT (4986.8)

Resistance : 5020-30 / 5175-85 / 5220-40

Support : 4930-50 / 4855-65 / 4800-10

BHARTI (317.85) : Sell Below 320/25,Sl 335,Tgt 300+

R : 335 / 355

S : 300 / 280

RCOM (172)

R : 185 / 195

S : 165 / 155

RELIANCE (1007.65)

R : 1035 / 1060 / 1090 / 1125

S : 995 / 975 / 950

TATASTEEL (563.25) : Sell Below 560/65,Sl 575,Tgt 545+

R : 575 / 590

S : 545 / 525

RNRL (68.55)

R : 69.3 / 70.4 / 72.2

S : 67.1 / 65.7

LNT (1650.05)

R : 1670 / 1695 / 1725 / 1750

S : 1620 / 1590 / 1550 / 1530 / 1480

RELINFRA (1029)

R : 1040 / 1080 / 1135

S : 975 / 935

DLF (357.4)

R : 370 / 385 / 405

S : 345 / 330

SBI (2145.35)

R : 2185 / 2245 / 2345

S : 2085 / 2020

RELCAP (818.7)

R : 835 / 850 / 875

S : 805 / 785

ICICI (809.35)

R : 830 / 855 / 895

S : 785 / 760

SECTOR WATCH ( BANKING ) : DOWN MOVE TO CONTINUE

ANDHRABANK FUT : OI up 55.05% prices down 10.07% last week. Shorts build up. Below 101, more weakness expected. R 107.

BANKINDIA FUT : OI up 37.19% prices down 7.13% last week. Shorts build up. Below 359, down move to continue. R 374.

KOTAKBANK FUT : OI up 72.68% prices down 4.10% last week. Heavy shorts build up. Sharp down move below 765. R 786.

STOCK FUT TO WATCH NEXT WEEK : DLF FUT ( BEARISH )

OI up 33.86% prices down 6.41% last week. Shorts build up. Below 355, more weakness expected. R 387.

BUY

ULTRATECH,Sl 840,Tgt 925/950/65

MPHAHSIS,Sl 675,Tgt 740/55/70

AUSTRALCOKE,Sl 8,Tgt 12.5/13.5

RUCHISTRIP,Sl 8,Tgt 14/15/16

JKIL@ 180,Sl 170,Tgt 195/200/205

JYOTISTR@ 160,Sl 140,Tgt 190/200/210

CONCLUSION :-

I expect down move to continue for next few sessions. NIFTY SPOT S 4960-70, 4900-4910. I expect bounce near 4900 levels which will move up for 4990-5000, 5030-40 levels. Any up move should be used to exit longs and to initiate shorts at higher levels. Still NIFTY FUT intraday volumes on lower side. I will prefer to watch 4850-4900 levels with intraday volumes and OI if both rises then possibility of BREAKDOWN.

Markets For 18/12/2009

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Market open flat to negative with seen a bargain buying around 5000 level once again and once again It was a flat session for the major part of the day and market closed with modest gains.market has closed again above the level of 5031 which is 23.6 % ( 4539-5183 ) but closed below 5065 which is 20 DEMA.Going forward market now may see selling pressure on every rise as long as its hovering below its major resistance level of 5075-5090 and every rise if any comes may be an exit opportunity.A sustained cross above 5070-75 will lead another round of buying that can help again to see the range of 5160-5182 again.As of now looking at charts if todays low is not taken out market will take a upmove and trendline support is still intact.

It was another dull and quiet day on the market that closed in the negative today. But there was lots of buzz about extension of trading hours with heavy debate among brokers and various polls seeking more opinion on the issue.

Markets once again entered the green in late afternoon trades tracking movements on the key European indices but lacked steam to sign off trade on a positive note. US Federal Reserve kept the key interest rates unchanged in its two-day policy meet which pulled the dollar higher. But strength in the dollar has also raised concerns about unwinding of dollar-carry trade.

Though markets failed to lure marketmen in the day’s trade, top two stock exchanges of India -- NSE and BSE -- remained in news over their decision to extend trading hours from Friday.

Sensex shut shop at 16894, down 18 points and Nifty at 5041, flat from the previous close. CNX Midcap index was up 0.86% and BSE Smallcap index was up 0.88%. The market breadth was positive with advances at 778 against declines of 486 on the NSE. Top Nifty gainers included HCL Technologies and Cipla while losers were DLF, Unitech and BPCL.

NIFTY (5041.75)

Resistance : 5065 / 5095 / 5130

Support : 5015 / 4985 / 4960 / 4940

SENSEX (16894.25)

Resistance : 16975 / 17055 / 17200

Support : 16820 / 16745

NIFTY FUT (5036.45)

Resistance : 5075 / 5090 / 5110 / 5145

Support : 5020 / 4980 / 4945

MKT COMMENTS

NIFTY FUT OI down 4.22% with 5% decreasing volumes indicating short covering.

If NIFTY SPOT hold 5000 levels, bounce expected.

On Friday,Opening Is Flat To Positive,

Buy NIFTY Above 5045,Sl Below 5030,Tgt 5065/5090/5115/5140

Sell NIFTY Below 5025,Sl Above 5040,Tgt 5005/4980/4955/4930

BUY

CROMPTON Above 420,Sl 415,Tgt 425/30+

ROLTTA Above 180,Sl 170,Tgt 200/210

TATACOMM Above 325,Sl 300,Tgt 365/80/400

JMCPROJ Above 160,Sl 155,Tgt 165/70/75

SAIL Above 211,Sl 208,Tgt 214/17/19

MASTEK Above 385,Sl 375,Tgt 395/400/405

BANKINDIA Above 370,Sl 365,Tgt 375/80

SBIN (2153),Sl 2140,Tgt 2180/90/95+

SELL

BOB Below 498,Sl 503,Tgt 493/89/85/81+

HCLTECH Below 355,Sl 365,Tgt 345/35/25/15+

RCOM Below 175,Sl 180,Tgt 170/65

JETAIR Below 550,Sl 555,Tgt 545/40/35/30

FUTURES

ICICI BANK (825.45) : Buy@ 820/25,Sl 810,Tgt 830/35/40+

BHEL (2333) : Buy@ 2315/25,Sl 2290,Tgt 2350/60/70

TISCO (564) : Buy@ 560,Sl 550,Tgt 570/75+

Markets For 15/12/2009

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It was a lackluster Monday for our market that closed flat for the day. The market saw profit booking in late trade despite positive global cues. The market breadth was negative with advances at 428 against declines of 837.Market has almost made a triple top near 5182 range and not decisively sustaining above this mark,and looks that this level will be not taken out so easily and it can hurt market in the day to come if we are going to break Lower side supports of 5065-45 and a sustained break below this mark will create another panic in the market. and if again we crossed 5183 decisively and hold above it then market can scale new high,say 5255-5300 in this month.Around 5182 there should be caution,and for very immediate time frame 5115 is resistance.

After a sharp gap up opening market closed in the red despite positive global cures.In fact the Sensex continue to move up and touched an intraday high of 17275 points and sustained this level for a considerable amount of time. However, in the second half the Sensex wasnt able to sustain its gain and slipped and touched a low of 17048 level. Thus after a steady start the market indeed became more volatile towards the end of the day.

The market saw profit booking in late trade despite positive global cues. Nifty has stiff resistance at 5150-5180 and once these are crossed it will rally up swiftly. There is sector rotation too and today cement stocks were on the rise. This clearly shows that the Sensex isn’t yet feeling the comfort level above the 17200 levels and that crucial if the Sensex has to move up and beyond that. Volatility to continue in the coming days.

NIFTY (5015.7)

Resistance : 5145 / 5185

Support : 5080 / 5050 / 5020 / 4970

SENSEX (17097.55)

Resistance : 17235/17370 / 17465

Support : 17005/16910

NIFTY FUT (5107.4)

Resistance : 5150 / 5195

Support : 5070 / 5025 / 4960

MKT COMMENTS

NIFTY FUT OI flat with 7% decreasing volumes indicating unwinding at higher levels.

We expect NIFTY FUT to trade negative with volatility.

On Tuesday,Opening Is Flat To Down,

Buy NIFTY Above 5125,Sl Below 5110,Tgt 5150/5175/5195/5220

Sell NIFTY Below 5110,Sl Above 5125,Tgt 5085/5060/5040/5015

Heavy Risky Traders

Buy NIFTY@ 5080/90,Sl 5060,Tgt 5120/5140/5180 (If NIFTY Closes Above 5150,Take Overnight Positions In NIFTY)

BUY

MARUTI Above 1610,Sl 1600,Tgt 1620/30/40/50

BIRLACORP Above 325,Sl 320,Tgt 330/35/40

LNT Above 1705,Sl 1695,Tgt 1715/25/35+

SIEMENS Above 565,Sl 560,Tgt 570/75

WIPRO Above 655,Sl 650,Tgt 665/70/75+

PUNJ Above 200,Sl 195,Tgt 210/15/20

TULIPIT Above 900,Sl 860,Tgt 990/1010

ACC Above 855,Sl 840,Tgt 875/85+

SELL

GAIL Below 420,Sl 425,Tgt 415/10/05

MRPL Below 77,Sl 79,Tgt 75/74/73

ROLTA Below 185,Sl 190,Tgt 180/75

SBIN (2247),Sl Above 2260,Tgt 2230/20

FUTURES

TISCO (544.65) : Buy Around 540,Sl 535,Tgt 545/50

RIL (1066) : Buy Around 1060,Sl 1045,Tgt 1075/80/85/90

STERLITE (837.25) : Sell Around 845/50,Sl 855,Tgt 835/30/25

Markets For 02/12/2009

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It was a good day across Asian and European markets. Our market too, helped by positive global cues, closed at the day's highs. The fantastic November auto sales numbers and buying in the high beta realty stocks helped market rally higher today. Sensex shut shop at 17198, up 272 points and Nifty at 5122, up 89 points from the previous close. CNX Midcap index was up 1.68% and BSE Smallcap index was up 2.15%. The market breadth was positive with advances at 1058 against declines of 214 on the NSE. Top Nifty gainers included Unitech, Tata Motors and Sun Pharma while losers were HUL, GAIL and BHEL.

The Indian market closed on a good note after a calm and steady day of trade. It opened again gap up but showed a tremendous rally as the fantastic November auto sales numbers and buying in the high beta realty stocks helped market rally higher today and also managed to close above its weekly first resistance zone of 5118.Going forward we may take a cue from global front and if it remains positive there would be another rally in the tomorrows trade is not ruled out as if nifty manage to hold above 5045 range in the opening trade then the rally will kiss its recently made high which is placed at 5138-and then we can see also 5182,very immediate support comes at 5070-55 .

NIFTY (5122)

Resistance : 5155 / 5190 / 5210

Support : 5065 / 5005 / 4940

SENSEX (17198.27)

Resistance : 17295 / 17410 / 17500

Support : 17025 / 16850

NIFTY FUT (5132.05)

Resistance : 5165 / 5195 / 5225

Support : 5080 / 5015 / 4970

MKT COMMENTS

NIFTY FUT OI up 4.26% with 30% decreasing volumes indicating forming of long positions.

We expect NIFTY FUT to trade positive.

On Wednesday,Opening Is Flat To Positive,

Buy NIFTY Above 5115,Sl Below 5095,Tgt 5135/5155/5175/5195/5215

Sell NIFTY Below 5090,Sl Above 5100,Tgt 5070/5050/5030/5010/4990

BUY

CONCOR, Sl 1175,Tgt 1275/1350

SBIN (2292),Sl Blw 2275,Tgt 2315/2325

CADILA (532321) Above 625,Sl 605,Tgt 640/50

HPCL Above 360,Sl 350,Tgt 370/80

TATAPOWER Above 1370,Sl 1350,Tgt 1390/1410

BANKINDIA Above 390,Sl 385,Tgt 395/400

DABUR Above 168,Sl 165,Tgt 171/73/75/78

TATACHEM Above 295,Sl 290,Tgt 305/10/15

SELL

TATASTEEL Below 580,Sl 585,Tgt 275/70/65

ITC Below 257,Sl 259,Tgt 255/53/50

JPASS Below 230,Sl 235,Tgt 225/20