Markets For 27/02/2009

Daily Market Outlook: 27 Feb 2009

Short Covering will make pullback rally in last hour and SENSEX shut shop at 8954, up 52 points and NIFTY at 2785, up 23 points from the previous close

NIFTY: (2786)

Nifty Now important level of 2705, if sustains then possible 2805/2835 if breaks 2700 level then 2630 also possible.

The Support for the Nifty is at 2730-2670 & the Resistance to the up move is at 2820/2835

BSE Sensex: (8955)

The Support for the Sensex is 8750 & the Resistance at 9030-9150

MKT COMMENTS

NIFTY FUT OI up 25.10% with 127% increasing volumes indicating forming of long positions.

We expect NIFTY FUT to trade positive.

NIFTY (2785.65)

Resistance : 2800 / 2815 / 2840 / 2880

Support : 2770 / 2745 / 2725 / 2705

SENSEX (8954.86)

Resistance : 9030 / 9125-50

Support : 8910 / 8830 / 8750 / 8700

NIFTY FUT (2766)

Resistance : 2805 / 2820 / 2835

Support : 2765 / 2745 / 2730 / 2695 / 2670

BANK NIFTY (3834.45)

Resistance : 3850 / 3910 / 4000

Support : 3770 / 3710

On Friday,Opening is Flat to Up,

Stay Long Above 2780-85,Sl below 2770,Tgt 2795-2810-2840,

Sustain Below 2760-55,Sell with Sl Above 2770,Tgt 2745-2730-2715-2705

BSE Listing of Equity shares of Shakti Press Ltd.(526841) on 27.02.2009.

Buy GRASIM Around 1450,Tgt 1510/50,Sl 1400

Buy TATA MOTORS Around 145,Tgt 155/60/65,Sl 135

Buy RELIANCE Above 1295

Buy DRREDDY Above 410

Buy BHARTI Above 650,Tgt 665/75/85,Sl 640

Buy NEYVELI LIGNITE Above 72,Sl 70,Tgt 75/77/80/84

Buy BHEL Above 1405,Tgt 1440-1475-1495,Sl 1390

Buy ONGC Above 720,Tgt 740-755-765,Sl 710

Positional : Buy RENUKA Around 80

Sell TCS Below 480,Tgt 475-465-455,Sl 490

Sell ITC Below 185,Tgt 180-175-165,Sl 190

Sell ICICIBANK Below 325,Tgt 315-300-295,Sl 330

Sell SBIN (1023),Sl Above 1045,Tgt 1005-995

Sell GUJ AMBUJA Around 66/67,Tgt 64/62/60,Sl 70

Sell RANBAXY Aound 180,Tgt 155/45,Sl 195

RENUKA MARCH FUTURE (81.55)

Buy Above 81.7.Tgt 83.15/84.4/85.2/86.4, Supports : 79.9/78.7/77.9

Markets For 25/02/2009

BSE Sensex : (8843)

The Support for the Sensex is 8630 and the Resistance to the up move is at 9030-9157

Nifty : (2736)

Still we are in cautious levels and Dow has important role for direction of Market. Once Nifty move above 2840 and stay for 1-2 trading day then we can say worst is over for short term. Nifty has Crucial level of 2620 if break then possible 2500 or below.

The Support for the Nifty is at 2680 and the Resistance to the up move is at 2790-2830.

The government to cut service tax by 2%, to reduce it down to 10%, The government also cuts excise duty on bulk cement to 8% or Rs 290/tonne.The 8% excise duty cut applicable beyond March 31.

NIFTY (2733.9)

Resistance : 2760 / 2790 / 2830 / 2880

Support : 2705 / 2680 / 2650 / 2610

SENSEX (8843)

Resistance : 8915 / 9030 / 9160

Support : 8685 / 8630 / 8530

NIFTY FUT (2726)

Resistance : 2750 / 2780 / 2840

Support : 2690 / 2650 / 2615

MKT COMMENTS

NIFTY FUT OI (both series) up with increasing volumes indicating rollover of short positions to next series.

We expect NIFTY FUT to trade positive with volatility.

On Wednesday,Opening is Flat to Up,

Stay Long Above 2730,Sl Above 2715,Tgt 2745/60/90,

Sustain Below 2710,Sell with Sl Above 2725,Tgt 2690/50/30.

POSITIONAL HIGH RISKY TRADERS : Sell NIFTY@ 2750/70,Sl Above 2790,Tgt 2675-2650

Buy AMBUJACAM above 69

Buy SBIN,Sl Below 1010,Tgt 1045/55+

Buy NALCO Above 200/205

Buy ABAN Above 350/55,Sl 340,Tgt 375/85

Buy GUJALKALI Above 58,Sl 55,Tgt 61/64/66

Buy ACC Above 560,Tgt 575-585-610,Sl 550

Buy BANKINDIA Above 220,Tgt 225-230-240,Sl 215

Buy VSNL Above 390,Tgt 400-410-425,Sl 380

Buy SIEMENS Above 220,Tgt 225-230-245,Sl 215

Sell TATASTEEL Below 160,Tgt 155-150-145,Sl 165

Sell HEROHONDA Below 900,Tgt 885-875-850,Sl 910

FUTURES

BHEL (1361) : Buy@ 1350/60,Sl 1345,Tgt 1370/80/85/90/95+

ONGC (680.60) :

Buy @ 670/75,Sl 665,Tgt 685+

Or

Open High Sell @690/95,Sl 705,Tgt 685/80

RIL (1253) : Buy@ 1230/45,Sl 1225,Tgt 1270/80/90/95

Technical Levels for 25 February 2009
Symbol	RES 1	RES 2	RES 3	Pivot	Support 1	Support 2	Support 3	Trading Signal
Top of Form GOLD Bottom of Form	15870.33	16010.67	16124.33	15756.67	15616.33	15502.67	15362.33	Sell Signal
Top of Form SILVER Bottom of Form	23591.00	23846.00	24022.00	23415.00	23160.00	22984.00	22729.00	Sell Signal
Top of Form LEAD Bottom of Form	50.47	51.38	52.32	49.53	48.62	47.68	46.77	Buy Signal
Top of Form COPPER Bottom of Form	161.67	163.63	166.42	158.88	156.92	154.13	152.17	Buy Signal
Top of Form NICKEL Bottom of Form	487.13	495.77	508.33	474.57	465.93	453.37	444.73	Buy Signal
Top of Form CRUDEOIL Bottom of Form	1952.33	1990.67	2014.33	1928.67	1890.33	1866.67	1828.33	Sell Signal
Top of Form ZINC Bottom of Form	54.03	54.62	55.33	53.32	52.73	52.02	51.43	Buy Signal
Top of Form NATURALGAS Bottom of Form	207.90	211.20	214.40	204.70	201.40	198.20	194.90	Sell Signal
Top of Form MENTHAOIL Bottom of Form	520.97	526.03	534.37	512.63	507.57	499.23	494.17	Buy Signal
Top of Form ALUMINIUM Bottom of Form	64.33	64.87	65.93	63.27	62.73	61.67	61.13	Buy Signal
Top of Form REFSOYOIL Bottom of Form	449.83	453.07	458.73	444.17	440.93	435.27	432.03	Buy Signal