Markets For 30/1/09

NIFTY (2823.95)

Support : 2785 / 2750 / 2710 / 2690

Resistance : 2850 / 2870 / 2910 / 2935 / 2960

SENSEX

Support : 9140 / 9045

Resistance : 9355 / 9475

NIFTY FUTURE(2796)

Support : 2755 / 2715

Resistance : 2855 / 2915

MKT COMMENTS

NIFTY FUT OI up 29.98% with 64% increasing volumes indicating forming of short positions.

Above 2850 levels, short covering expected. Below 2800 levels more weakness.

On the Friday,Opening is Flat to Down,

Stay Short Below 2780,Sl Above 2800,Tgt 2755-2730-2705-2670,

Sustain Above 2810,Buy with Sl Below 2790,Tgt 2825-2850-2880-2925.

HERO HONDA LOOKING HOT AND FIERY

Buy BPCL Above 390/95

Buy NTPC Above 190,Tgt 195/205,Sl 185

Buy UNITECH Above @32,Tgt 35-40,Sl 30

Buy INDIAN HOTEL Above 38,Sl 35,Tgt 40/43/45+

Buy HINDALCO Above 42,Sl 40,Tgt 45/50/55+

Buy BAJAJAUTO Above 480,Tgt 495-505-515,Sl 465

Buy COLGATE Above 415,Tgt 425-430-440,Sl 410

Buy NTPC Above 190,Tgt 195-200-205,Sl 185

CIPLA : Sell Below 192,Sl 195,Tgt 185/83/80

Sell SBIN (1099 ),Sloss Above 1115,Tgt 1075/1060

Sell ONGC Below 640,Tgt 625-610-575,Sl 645

Sell SAIL Below 80,Tgt 77-75-67,Sl 82

Sell STER Below 265,Tgt 260-255-245,Sl 270

TATA MOTORS

Buy Above 153.5,Sl 152,Tgt 155/158

Sell Below 150,Sl 152,Tgt 148/145

BHARTI AIRTEL

Buy Above 633,Sl 628,Tgt 640/650

Sell Below 622,Sl 628,Tgt 615/605

Buy MTNL Feb@ 72/73,Sl 70,Tgt 74.5//75.9/76.7/77.4/78.1 (Lot Size 1600)

Sell TV18 Feb@ 70/68,Sl 73,Tgt 67/66/65.7/64.3/63.8/61.8 (Lot Size 850)

Rs vs $ :- weak due to pumped up dollar demand from oil importers facing month-end import commitments, with weak shares adding to the gloom.

JEERA :- extended fall sharply as traders continued to cash out of the market after prices rose more than 7% since Jan 19.

PEPPER :- extended fall sharply reversed its brief afternoon gains and ended lower on profit-booking.

SUGAR :- extended fall in volatile trade as traders speculated millers have been signing raw sugar import deals expecting a change import policy.

GUARSEED & GUM :- extended fall on profit-taking and a weak spot market. NCDEX Mar contract has risen 13% so far during the month on improved export demand amid dwindling arrivals.

MENTHA OIL :- gain on short covering & profit booking after last 3-days fall while trading seen this ahead of near month Jan contract expiry but price looks in range bound on higher exports, good demand but lower interest from stockiest.

TURMERIC :- extended fall at lower freeze of 4% due to a slight rise in arrivals and heavy profit-taking.

MUSTARD SEED / SOYBEAN :- extended fall tracking weak Malaysian palm prices and falling spot prices.

NCDEX

Commodity	Contract	S2	S1	LTP	R1	R2	View
Barley	April' 09	900	915	927	935	950	Wait for View
Castor Seed	Feb' 09	435.5	441.5	446.8	454	462	Sell Below 441.5,Sl 445,Tgt 438.5/435/430/425 OR Sell Ard 453/54,Sl 455,Tgt 449/47
Chana	Feb' 09	2255	2290	2316	2335	2360	Buy Only Abv 2335,Sl 2320,Tgt 2350-60/2395-2405 Atleast in Coming Days OR Buy Arnd 2264/66,Sl 2260,Tgt 2280-85, Only Blw 2255 DownTrend Starts
Chilli	Feb' 09	4770	4850	4885	4960	5010	Buy Only Abv 4980/5000,Sl 4960,Tgt 5040-50/5140-5200 OR Buy Arnd 4780-82,Sl 4770,Tgt 4825-50
Undecorded Cotton (Akola)	Mar' 09	495	499	503	511.5	515	Sell Only Below 501/499,Sl 503,Tgt 495/Down Rally OR Buy Only Abv 511,Sl 509,Tgt 513.5/515/Close Abv Test 520/23
Guar Gum	Mar' 09	3450	3500	3550	3600	3640	Sell Below 3540,Sl 3555,Tgt 3500-3455 OR Sell Ard 3630-35,Sl 3640,Tgt 3600-3580
Guar Seed	Mar' 09	1620	1635	1620	1670	1685	Expect Price to Test 1590-1565 as Long Resist of 1660 (Sell on Rally Advisable) Fresh Sell Below 1610,Sl 1622,Tgt 1590-85 OR Sell Ard 1652-56,Sl 1660,Tgt 1640-30
Gur	Mar' 09	739	750	762	765	775	Buy Abv 765,Sl 762,Tgt 770/775/Towards 800-810 in Coming Days OR Buy Ard 743-44,Sl 742,Tgt 750/55
Jeera	Feb' 09	11550	11650	11700	11800	11925	Buy Only Abv 11925,Sl 11875,Tgt 12000-10/12090/12150/Uprally OR Sell Only Below 11575,Sl 11630,Tgt 11515-11425
Kapas SN	April' 09	487	492	496	500.5	504	Sell Below 493/492,Sl 495,Tgt 492/Below Towards 485 OR Sell Ard 503-504,Sl 505,Tgt 500-495
Maize	Feb' 09	832	845	851	862	873	Sell Below 845,Sl 852,Tgt 835-30/Below Down Rally OR Sell Ard 868-70,Sl 873,Tgt 860-55
Pepper	Feb' 09	12100	12275	12100	12575	12700	Expect Price Towards 11700-11500 as Long Resist 12600 (Sell on Rally Advisable) Sell Below 12050,Sl 12150,Tgt 11900-850 OR Sell Ard 12360-375,Sl 12400,Tgt 12250-200
Potato	Mar' 09	545	555	565	570	578	Wait for View
RM Seed Jaipur	Feb' 09	489.5	494	492.7	506	510	Sell Below 489-87,Sl 491.5,Tgt 485/Towards 472 in Coming Days OR Sell Ard 500-501,Sl 502,Tt 497-95
Sugar M 200	Feb' 09	2020	2035	2055	2080