Markets For 19/02/2009

Daily Market Outlook: 19 Feb 2009

Nifty: –

Market view for short term is not good we are not come out of the impact of interim budget’s disappointment. And more over that global market conditions are adding fuel. Technically market is downtrend and NIFTY has support around 2760-2735 and then 2685. Nifty positive trend if NIFTY crossover and close above 2890. Till then short on any rally .

BSE Sensex: –

The Support for the SENSEX is 8870/8825 and the Resistance to the up move is at 9110/9280

NIFTY (2776.15)

Support : 2760 / 2735 / 2700 / 2685

Resistance : 2810 / 2825 / 2845 / 2890

SENSEX (9015.8)

Support : 8925 / 8870 / 8825

Resistance : 9045 / 9110 / 9210 / 9280

NIFTY FUT (2763.25)

Support : 2690 / 2615

Resistance : 2805 / 2880 / 2990

BANK NIFTY (4060.7)

Support : 3995 / 3930

Resistance : 4085 / 4150 / 4240

MKT COMMENTS

NIFTY FUT OI down 9.44% with 16% increasing volumes indicating rollover of short positions to next series.

We expect NIFTY FUT to show bounce from lower levels with volatility

Market did make technically very dangerous signal, if take this signal right then fall of Nifty should between the level of 100 to 153 point, so if market open flat in the morning then also do not increase the buying position & cut the long position till 10:30 to 12:00.

On Thursday,Opening is Flat to Down,

Stay Short Below 2770,Sl Above 2800,Tgt 2750-35-10-2685,

Sustain Above 2805,Buy with Sl Below 2775,Tgt 2825-40-70-95.

Sell ASIANPAINT Below 795,Tgt 785-780-760,Sl 800

Sell HEROHONDA Below 930,Tgt 920-910-880,Sl 940

Sell JETAIRWAYS Below 155,Tgt 150-140-125,Sl 165

Sell SIEMENS Below 220,Tgt 215-210-195,Sl 225

Sell KOTAKBANK Below 250

Sell HDFCBANK Below 865,Tgt 855/45/35,Sl 875

Sell SBIN (1071),Sl Above 1085,Tgt 1055/40

Buy IBREALEST Above 95 & TEXMACO Above 50,As Delivery For Few Days

Buy TATACHEM Above 140,Tgt 145-150-155,Sl 135

Buy STER Above 255,Tgt 265-275-295,Sl 245

FEB FUTURES

Buy BONGAI REF @ 43/44,Sl 42,Tgt 44.9/45.3/45.8/46.2/46.7/47.1/47.6 (Lot Size : 2250)

Sell RELCAPITALBelow 375

Sell RELINFRA @ 505/501,Sl 510,Tgt 498/496/494/489/484/479/474/469/464 (Lot Size : 138)

SESAGOA : CMP FEB FUTURE 89.50

Buy Above 89,Tgt 93/95

Sell Below 88,Tgt 85/82

COMMODITY

Technical Levels for 19 February 2009
Symbol	RES 1	RES 2	RES 3	Pivot Level	Support 1	Support 2	Support 3	Trading Signal
Top of Form GOLD Bottom of Form	15578.67	15720.33	15823.67	15475.33	15333.67	15230.33	15088.67	Sell Signal
Top of Form SILVER Bottom of Form	23349.67	23719.33	24046.67	23022.33	22652.67	22325.33	21955.67	Sell Signal
Top of Form LEAD Bottom of Form	54.73	56.17	57.03	53.87	52.43	51.57	50.13	Sell Signal
Top of Form COPPER Bottom of Form	159.57	161.48	163.47	157.58	155.67	153.68	151.77	Buy Signal
Top of Form NICKEL Bottom of Form	494.67	502.13	509.47	487.33	479.87	472.53	465.07	Sell Signal
Top of Form CRUDEOIL Bottom of Form	1937.67	1984.33	2011.67	1910.33	1863.67	1836.33	1789.67	Sell Signal
Top of Form ZINC Bottom of Form	55.13	55.82	56.63	54.32	53.63	52.82	52.13	Buy Signal
Top of Form NATURALGAS Bottom of Form	210.47	212.93	217.27	206.13	203.67	199.33	196.87	Buy Signal
Top of Form MENTHAOIL Bottom of Form	509.63	512.77	516.53	505.87	502.73	498.97	495.83	Buy Signal
Top of Form ALUMINIUM Bottom of Form	65.22	65.88	66.42	64.68	64.02	63.48	62.82	Sell Signal
Top of Form REFSOYOIL Bottom of Form	442.80	443.90	445.80	440.90	439.80	437.90	436.80	Buy Signal

Commodity	Contract	S2	S1	LTP	R1	R2	View
NCDEX
Barley	April' 09	915	930	927	960	970
Castor Seed	Mar' 09	412	417	418	424	428	Fresh Sell Below 417,Sl 420,Tgt 414-12/ Sustain Close Below 417 Potential towards 400 soon OR Sell Ard 427-427.5,Sl 428,Tgt 424-422
Chana	Mar' 09	2260	2280	2295	2320	2345	Buy Only Abv 2320,Sl 2305,Tgt 2340-50/Sustain Abv Towards 2385 OR Sell Only Below 2265-60,Sl 2280,Tgt 2240/Close Below Down Rally
Chilli	Mar' 09	4685	4770	4849	4900	4950	Buy Only Abv 4900,Sl 4875,Tgt 4940-70/Sustain Close Abv 4900,Potential towards 5100 soon OR Buy Ard 4760-65,Sl 4750, Tgt 4800-4830
Undecorded Cotton (Akola)	Mar' 09	485	492	495.3	500	505	Sell Below 495,Sl 497,Tgt 492/Close Below 482 soon OR Sell Ard 504-504.5,Sl 505, Tgt 502-500
Guar Gum	Mar' 09	3235	3270	3276	3340	3385	Sell Below 3270,Sl 3285,Tgt 3250-30/Sustain Close Below 3230,Potential towards 3050-100 Range OR Sell Ard 3375-80,Sl 3385,Tgt 3350-30
Guar Seed	Mar' 09	1495	1510	1519	1540	1555	Sell Below 1510,Sl 1525,Tgt 1500-1495/Close Below Towards 1470-1450 OR Sell Ard 1554-56,Sl 1560,Tgt 1540-30
Gur	Mar' 09	758	765	776	782	790	Sell Only Below 771,Sl 775, Tgt 765/758/Close Below seen at 745-730 soon OR Buy Only Abv 780,Sl 778, Tgt 785-790/Abv Uprally
Jeera	Mar' 09	11250	11375	11470	11575	11725	Sell Below 11375,Sl 11425, Tgt 11330-270/225/Below towards 11000 OR Sell Ard 11680-690,Sl 11700,Tgt 11620-600
Kapas SN	April' 09	457	461	466.2	469	475	Sell Below 460,Sl 463,Tgt 457/Below Down Rally OR Buy Only Abv 469,Sl 466,Tgt 475-480
Maize	Mar' 09	819	827	830.5	845	857	Sell Below 827,Sl 833,Tgt 820-807 OR Sell Ard 846-48,Sl 850,Tgt 840-835
Pepper	Mar' 09	10600	10700	10825	10975	11100	Sell Below 10750,Sl 10825, Tgt 10680/615/500/Sustain Below Towards 10100 OR Sell Ard 11070-80,Sl 11100,Tgt 11020-10950
Potato	Mar' 09	515	525	533	545	555
RM Seed Jaipur	May' 09	430	434.5	438.7	445	450	Sell Below 435,Sl 436.5,Tgt 430-4247/Below Down Rally OR Sell Ard 447-448,Sl 449,Tgt 444-442
Sugar M 200	Mar' 09	2135	2160	2182	2200	2225	Buy Abv 2190,Sl 2180,Tgt 2200-2220 OR Buy Ard 2144-46,Sl 2140,Tgt 2160-70
Soy Bean	Mar' 09	2150	2180	2205	2230	2260	Sell Below 2180,Sl 2195,Tgt 2160-50 OR Sell Ard 2248-50,Sl 2255,Tgt 2235-25
Soy Oil	Mar' 09	430	436	440.3	447	451	Fresh Sell Below 436,Sl 438,Tgt 434-32/30 OR Sell Ard 450-450.5,Sl 451,Tgt 448-46
Turmeric	April' 09	3980	4080	4128	4190	4240	Sell Below 4120,Sl 4145,Tgt 4100 / towards 4000 soon OR Sell Ard 4225-35,Sl 4240, Tgt 4200-4175