Markets For 04/02/2009

NIFTY (2783.9) : 2780 Is Again Imp Level To Watch Out For

Resistance : 2795 / 2825 / 2855 / 2870

Support : 2745 / 2710 / 2670

SENSEX

Resistance : 9290 / 9430

Support :9025 / 8900

NIFTY FUT (2765)

Resistance :2795 / 2815 / 2830 / 2860

Support :2750 / 2725 / 2660 / 2690

On Wednesday,Opening is Flat to Positive,(If Sustains Above 2840-2860-2875,Hold Longs For Next Day)

Stay Short Below 2790,Sl Above 2810,Tgt 2755-2730-2710-2680,

Sustain Above 2810,Buy with Sl Below 2790,Tgt 2825-2840-2875.

MKT COMMENTS

NIFTY FUT OI down 2.03% with 26% increasing volumes indicating short covering.

We expect NIFTY FUT to trade volatile.

Buy SATYAM Above 55,Sl 45 (On Closing Basis),Tgt 60/65/70

Buy HCLTECH Above 120

Buy ACC Above 520,Tgt 530-545-550,Sl 515

Buy CANBANK Above 175,Tgt 180-185-190,Sl 170

Buy HEROHONDA Above 880,Tgt 890-900-905,Sl 870

Sell HDFC BANK Below 895,Tgt 885-875-855,Sl 905

Sell GAIL Below 200,Tgt 195-190-180,Sl 205

Sell CMC Below 300,Tgt 290-285-270,Sl 305

Sell SBIN (1092),Sl Above 1110,Tgt 1075/1065

Sell CENTURY TEXT Below 160,Tgt 155-50-45,Sl 165

FEBRUARY FUTURES

Buy NDTV,Sl 80,Tgt 90-95

Buy BALARMCHIN @ 61/62,Sl 59,Tgt 62.5/63.7/64.3/64.9/65.5 (Lot Size 2400)

Sell TATAMOTORS@ 132/131,Sl 134,Tgt 129/128/127.4/126.2/124.8/123.6/122.2/118 (Lot Size 412)

COMMODITIES

GOLD (APRIL): Gold looking range bound advised to buying above 14165 for target 14220 and sell below 14120 Target of 14050

Technical Trend Support & Resistance

Gold Now support level of 14050

And Resistance level of 14270 / 14365 and 14500 main range of 14140

LEAD (FEB): Trading range 55 to 60, wait for either side break out, thereafter it will show real power.

Technical Trend Support & Resistance

Lead has support of 54.65 and after 53.55

And resistance level of 56.35 after 56.95 and 58.05

SILVER (March): Major support 19100, weakness only below 19000, rally continues and likely 20100-20300 level.

Advised to Buy Silver around 19650-19655 ,Stoploss of 19590 Target of 19750/19800

Support : 19507.33 / 19364.67 / 19222.33

Pivot : 19649.67

Resistance : 19792.33 / 19934.67 / 20077.33

COPPER (FEB):

Support : 158.9 / 154.55 / 152.25

Pivot : 161.2

Resistance : 165.55 / 167.85 / 172.2

NICKEL (FEB):

Support : 550.7 / 539.3 / 531.4

Pivot : 558.6

Resistance : 570 / 577.9 / 589.3

CRUDE (FEB):

Support : 1952.33 / 1923.67 / 1897.33

Pivot : 1978.67

Resistance : 2007.33 / 2033.67 / 2062.33