Markets Weekly For 5/1/09 To 9/1/09

WEEKLY MARKET OUTLOOK

NIFTY FUTURE
Trend : Volatile

TOTAL OI of NIFTY FUT flat, NIFTY FUT up 6.49% last week. OI of NIFTY 3000 CE is up 66.67% prices up 77.36%, 3100 CE is 103.92% prices up 84.74% showing
call buying. OI of NIFTY 2900 PE is up 105.85% prices down 55.62%, 3000 PE is up 91.92% prices down 51.71% showing put writing last week.

We expect NIFTY SPOT will move up to 3160-70 levels,
Above 3180 levels. Next target will be 3210-20, 3260-75 levels. Profit booking expected here. On downside, NIFTY SPOT Support at 2945-80 levels. NIFTY FUT to trade positive with some volatility at higher levels next week. 2975-3150 is WEEKLY RANGE for NIFTY

SECTOR WATCH

MIDCAP STOCK FUTS
Trend : Bullish

OI of TORNTPOWER FUT up 413.33%, INDIANB FUT up 227.71%, ICSA FUT up 217.90%, GVKPIL FUT up 208.17%, INDIAINFO FUT up 132.78%, JINDALSAW FUT up 100.92%, WALCHANNAG FUT up 274.60% with rising prices last week. These counters showing long positions build up.

We expect positive move to continue next week.

OMCs
Trend : Bearish

OI of BPCL FUT up 22.93%, HINDPETRO FUT up 9.84% with falling prices showing short positions build up. Only IOC FUT OI down 18.85% showing unwinding of long positions.

We expect negative move in coming week.

WEEKLY NIFTY FUTURE OBSERVATION
Observation:-
1) NIFTY FUT Total OI flat, NIFTY FUT up 6.49%, last week.
2) Out of NIFTY 50 Stock FUTS, 44 Stock FUTS closed positive,
2 Stock FUTS closed negative and 4 Stock FUTS closed flat last week.
3) OI of NIFTY 3000 CE is up 66.67% prices up 77.36%, 3100 CE is up 103.92% prices up 84.74% last week showing call buying.
4) OI of NIFTY 2900 PE is up 105.85% prices down 55.62%, 3000 PE is up 91.92% prices down 51.71% last week showing put writing.
5) Total OI of JAN series PUTs is up by 69.75 LK to 1.87 CR. JAN series CALLs is up by 60.09 LK to 1.46 CR last week.


Conclusion :

I expect NIFTY SPOT will move to 3160-70 levels. Above 3180 levels, up move will go up to 3210-20, 3260-75 levels, I expected profit booking here.
On profit booking NIFTY SPOT will come down to 3100-3110, 3030-40 levels. NIFTY SPOT strong support at 2940-50 levels.

Weekly Trend (05-01-2009 to 09-01-2009) Volatile and Mix

2715 / 2810 / 2880 / 2945 / 2980 [NIFTY SPOT:3046.75] 3140-50 / 3180 / 3245 / 3275

8700 / 8825 / 9160 / 9390 / 9615 / 9730 [SENSEX : 9958] 10270-300 / 10415 / 10630-40

4475 / 4835 / 5050 [ BANK NIFTY : 5199.85 ] 5415 / 5630

2710 / 2880 / 2985 [ NIFTY FUTURE : 3053.6] 3160 / 3265

LONG BUILDUP IS WITNESSED IN SELECT MID CAP STOCKS,THIS WEEK RALLY MAY CONTINUE IN THESE MIDCAPS NAMELY CHAMBAL,NAGARJUNA,HCC,IVRCL,PVT BANK.

On Higher Side Markets may Face Stiff Resistance @ 3150-3245 & Huge Support @ 2950-3000 Band. NIFTY Jan Calls added 1.46Cr Shrs in OI,Puts added 1.87Cr OI

RANBAXY LABS(C-250.25): Weekly Chart Looking Strong

Buy Around 240-45,Tgt 265/295+,Support 225/200

Gold Technical 1st P.P Resis at 889, 4week high of 892, 2nd P.P Resis at 900, 38.2% retracement 52 week high of 908 and 14day RSI at 70% 912

>>>Crude Oil Outlook>>> Crude Oil Ready 2 Crack Soon; We'r Expecting Big Fall