Markets For 02/02/2009

NSE INDEX (C-2874.80)

Resistance : 2885 / 2915 / 2950 / 2985 / 3015

Support : 2840 / 2800 / 2765 / 2735 / 2685

BSE SENSEX (C-9424.24)

Resistance : 9550 / 9670

Support : 9315 / 9200 / 8965

NIFTY FUTURE (C-2868.15)

Resistance : 2910 / 2950

Support : 2835 / 2795 / 2725

BANK FUTURE (C-4449.95)

Resistance : 4525 / 4600

Support : 4400 / 4325 / 4200

MKT COMMENTS

NIFTY FUT OI up 5.03% with increasing volumes indicating forming of long positions.

We expect NIFTY FUT to trade positive with some volatility.

Next Week Is Critical For Direction Of The Market
CLOSE ABV 2910-2930 CAN TAKE MKTS TO 3100/3140++
CLOSE BELOW 2755-20 CAN SEE MKTS DOWN TO 2625-2500

On Monday,Opening is Flat to Up,

Stay Long Above 2870/80,Sl Below 2850,Tgt 2900-2920-2950,

Sustain Below 2840/30,Sell with Sl Above 2860,Tgt 2805-2770-2720.

Or

Risky Traders (For Traders @ 9:55 Am)

Buy NIFTY Around 2805/15,Sl Below 2765,Tgt 2840/2880/2900/2920/2950

Sell NIFTY Around 2885/95,Sl Above 2935,Tgt 2840/2805/2770/2750/2720

IVRCL INFRA

Buy Above 110,Tgt 113/115,Sl 109

Sell Below 108,Tgt 105/103,Sl 109

CROMPTON GREAVES

Buy Above 130,Tgt 133/135,Sl 129

Sell Below 128,Tgt 126/123,Sl 129

MNM

Buy Above 305,Tgt 310/315,Sl 300

Sell Below 299,Tgt 289/294,Sl 304

Buy BALARIMCHINI @ 57/58,Sl 54,Tgt 63/65+

Buy UNITECH Above 30,Sl 27,Tgt 35/38+

Buy IOC Above 454/55

Buy GLENMARK PHARMA Abv 140,Tgt 145/50/55,Sl 135

Buy Above ABGSHIP 70,Sl 68,Tgt 74/77/80

Buy ARVINDMILL 14,Sl 12,Tgt 16/18/20

Buy SBIN(1151),Sl Below 1125,Tgt 1175/1185+

Buy Dr.REDDY Above 450,Tgt 460-465-470,Sl 445

Buy HEROHONDA Above 875,Tgt 890-900-905,Sl 865

Sell CIPLA Below 190,Tgt 188-185-180,Sl 195

Sell COLGATE Below 420,Tgt 415-404-400,Sl 425

Sell TATAELEXI Below 85,Tgt 83-80-75,Sl 90

POSITIONAL

Buy RELIANCE 1300/20,Tgt 1380/,1420++,Sl Below 1270

Buy INFOSYS at dip Around 1270,Sl 1250,Tgt 1300-1320+

BUY NEYVELI,Sl 75,Tgt 85-90-95+

Buy SCI @80/85,Sl 72,Tgt 100/115

Buy ACC Above 505,Tgt 515-525-530,Sl 495

Buy ITC @ 177/80,Sl 173 On Closing Basis,Tgt 190+

Buy RELINFRA @550/70,Sl 535,Tgt 600/650/685+
Buy RELCAP @ 410/20,Sl 400,Tgt 440/465

Buy JAIPRAKASH ASSO @ 73/77,Sl 65,Tgt 80/85/90/95
Buy HINDALCO Above 47,Sl 44 On Closing Basis,Tgt 53/55/58
Buy ORIENTAL BANK Above 144,Sl 140,Tgt 150/55++

FUTURES

Sell SUNPHARMA Feb Fut @1075/80,Sl 1090,Tgt 1070/60/50/40/30/20/10/1000 (Positional Traders Sl 1115) [Lot Size 225]

Buy AXISBANK Fut Above 430,Sl 415 (Positional)

Buy LT(689.2) Fut @675/85,Sl 660,Tgt 695/705/715/725/740 [Lot Size 50]

Buy ONGC(658.2) @ 650,Sl 640,Tgt 670/675+ (Can Buy 670 Ca,Sl 640)

Buy RCOM(170.2) @ 165/67,Sl 160,Tgt 170/75/180/185/195

RIL (1325) : Intraday Trader Can Buy 1340Ca + 1320Pa

Buy @ 1300/05,Sl 1270,Tgt 1350+

Or

If Open High Sell @ 1350/60,Sl 1370,Tgt 1335/1325/1315

SBI(1152) : Intraday Trader Can Buy 1160/1180 Ca

Buy @ 1120/35,Sl 1110,Tgt 1175/1185/1195

Or

Open High Sell @ 1185,Sl 1205,Tgt 1165/1150

TISCO(184.65) : Intraday Trader Can Buy 180 Pa

Buy @ 175/80,Sl 170,Tgt 185/190/195

Or

If Open High Sell @ 190/95,Sl 198,Tgt 185/180

COMMODITIES WEEKLY

GOLD : Buy GOLD Around 14150/190,Sl 14100,Tgt 14400/14550+

Gold rose, capping a third straight monthly gain, as investors sought an alternative to holding cash. Silver also increased. While gold is traded in dollars, the price in euros is up 15 percent this month and 5.9 percent in U.K. pounds as central banks lower interest rates and governments spend trillions of dollars to revive economies. The U.S. economy shrank 3.8 percent in the fourth quarter, the steepest drop since 1982, as consumer spending slowed. A stimulus plan valued at more than $800 billion is pending in the U.S. Senate, after passing the House of Representatives earlier this week.

CRUDEOIL : Buy CRUDEOIL Jan Around 2000,Sl 1950,Tgt 2100/2165++

Crude oil rose in New York after a government report showed that the U.S. economy contracted less than forecast in the fourth quarter, signaling energy demand may strengthen. Oil gained as much as 4.8 percent, and gasoline reached an 11-week high after the Commerce Department said gross domestic product shrank at a 3.8 percent annual pace, less than the 5.5 percent forecast. The International Energy Agency and OPEC have both trimmed global demand forecasts, citing economic factors.

COPPER : Buy COPPER Feb Above 150,Sl 145,Tgt 160/65

Copper may drop next week as the recession in the U.S. reduces demand from builders and manufacturers. Copper slipped to the lowest price in the past week as the slumping global economy and rising metal inventories heightened concerns that demand will slide. The metal extended losses after an industry group reported that a barometer of U.S. business activity fell in January for a fourth consecutive month, a sign that the downturn in manufacturing may worsen this year.

Buy SILVER Around 19450/500,Sl 19250,Tgt 20000/20300

Buy ZINC Jan Around 52/53,Sl 51,Tgt 55/56

Buy LEAD Jan Around 55/56,Sl 54,Tgt 58++