Markets For 13/03/2009

Daily Market Outlook: 13 Mar 2009

The decline towards the end of trading session we feel was profit booking in the IT and FMCG sector, this resulted in losing few points on the Sensex. On the sectoral front Auto and Banking sector witnessed a good run as lower inflation has given some headroom for rate cuts. In Oil & Gas Sector, Oil marketing companies gained as crude prices declined. The Advance-Decline ratio was skewed towards the Declines with 1162 Advances and 1262 Declines. Our analysis for the market movement today, we expect them to open on a flat note with some positive bias.

The market is showing some strength and seeing a good pullback rally but still we are not sure that it will remain sustain.

Still Cautious till Nifty trades below 2700 once bounce above 2700 some relief will be seen.

Market respected the EOD Resistance and Closed at 2717 which is exactly the 5EMA Resistance. Now the trend turns from negative to neutral.

Any Close Above 2615/20 Tommorow,then Market Turns In Range Bound Territory Between 2500-2750 for Couple of Days.

But Closing Below 2615/20 will be Bearish.

NIFTY (2617.45)

Support : 2580 / 2540 / 2510 / 2450

Resistance : 2650 / 2685 / 2710 / 2740

SENSEX

Support : 8265 / 8185

Resistance : 8430 / 8515

NIFTY FUT (2601)

Support : 2575 / 2550 / 2525 / 2485

Resistance : 2610 / 2635 / 2655 / 2665

On Friday ,Opening is Flat to Up,

Stay Long Above 2620,Sl Below 2605,Tgt 2640-2655-2670-2685,

Sustain Below 2600,Sell with Sl Above 2615,Tgt 2580-2555-2540-2480

POSITIONAL : Buy NIFTY,Sl 2525,Tgt 2640-80-2720

Buy BHEL Above 1340,Tgt 1360-1380-1420,Sl 1320

Buy HLL Above 225,Tgt 230-240-255,Sl 220

Buy KOTAKBANK Above 230,Tgt 235-240-250,Sl 225

Buy IVRCL INFRA Above 110/15

Buy CIPLA Above 205,Tgt 210/15,Sl 200

Sell BOMDYEING Below 115,Tgt 110-105-90,Sl 120

Sell VSNL Below 415,Tgt 405-395-375,Sl 425

Sell TATASTEEL Below 155,Tgt 150-145-140,Sl 160

Sell SBIN (911)mSl Above 925,Tgt 895/885

FUTURE

Buy DRREDDY @ 395/400,Sl 385,Tgt 405/408/413/416/420/425/430 (Lot Size : 800)

Sell TITAN @700/695,Sl 715,Tgt 690/685/680/675/665/660/650/645/640 (Lot Size : 412)