Markets For 06-01-2009

NIFTY (3121)

Support : 3015-25 / 3070

Resistance : 3150-60 / 3190

SENSEX (10276)

Support : 9990 / 10130 / 10180

Resistance : 10325-55 / 10430 / 10710

NIFTY FUTURES (3122)

Support : 3025 / 3040 / 3085 / 3100

Resistance : 3150-60 / 3185 / 3240/ 3265

MKT COMMENTS

NIFTY FUT OI up 3.16% with flat volumes indicating forming of short positions at higher levels.

We expect NIFTY FUT to trade rangebound with volatility.

Big resistance for Nifty comes at 3160-90. If unable to break today there would be sureshot profit booking today.

3168 IS 38.2% FIBO RETRACEMENT OF 12TH AUG08 HI OF 4650 & 27TH OCT08 LOWS OF 2252.NIFTY HASNT YET TESTED 3168 APART 4 GAPUP OF 5TH NOV @3240

On Tuesday ,Opening is Flat to Up,

Stay Long Above 3130,Sl Below 3105,Tgt 3150-65-80-95-3220,

Sustain Below 3090,Sell with Sl Above 3115,Tgt 3070-25-2950.

INTRADAY

TATAPOWER (833) Buy,Sloss Below 815,Tgt 855-865

Buy EDUCOMP @ 2645 SL 2580 Target 2950

Buy DRREDDY Above 475-480

Buy APTECH Above 102,Tgt 107-110,Sl 99

Buy RELCAPITAL Above 602

Buy BOB Above 295,Tgt 300-305-315,Sl 290

Buy BHEL Above 1440,Tgt 1465-1485-1535,Sl1430

Buy INFOSYS Above 1175,Tgt 1195-1215-1265,Sl 1165

Sell NTPC Below 180,Tgt 178-175-165,Sl 185

Sell SATYAM Below 165,Tgt 160-150-130,Sl 170

Sell SBI Below 1355,Tgt 1345-1325-1295,S; 1375

STOCKS TO WATCH ( Possitional Futures)

Buy RIL 1260PUT Around 20-30,Tgt 100++,Sloss 8 (in 3 to 4 days.)

INFOSYS :

The Company Fires Over 1000 Staffs In US and India.
No Stimulus Package from Govt. for Software Industry.
Slow down of Orders from Overseas.Third Quarter Results on 13th Jan' 2009
Analyst Came out with Q3 Expectation - PAT 1432 Cr.
Strong Resistance Zone between 1184 - 1192 level.
Above this level Stock will Zoom to 1220 & 1300 Level or Else,
If breaks 1150 - Strong Support,Will slide and Kiss 1090 and 1060 level..
There after Don;t Remain Long

BHARTI AIRTEL :

Airtel's Net Sales expected to go up by 40.5% @ Rs. 9,786 Crore. Net Profit Seen Up by 24.1% @ Rs. 2,138 Crore.
R-Com & Tata Tele's foray into GSM may give Stiff competition to Bharti Airtel.
Stock had a Strong Support @ 670. Break below 670 means, No Reason to Hold Long. Just Exit

Gold --- Any break below 845$ will take to $830. In MCX downside support at 13050 and 12800. On higher side $866-$890 are resistance.

Trading range between $830-$876.Huge sell off can not be ruled out on break and close below $830.

Natural Gas--- Sideways to higher trading expected in near term. Buy around 270-75 range.

Copper --- On upper side consider the level of 163 as solid resistance. Above which Copper can test 168-172 in near future. Buy in the range of 150-152 for near term

Silver --- Caught in the trading range of 10.40 to 11.50. In MCX 17500-18550.

Nickel --- On downside 590 is support area. Correction expected only below 590.