Markets For 30/3/2009

NIFTY (3108.65) : This Week Expect NIFTY To Be In Range Of 2950-3190

Resistance : 3140 / 3170 / 3190 / 3210 / 3240

Suppport : 3095 / 3060-50 / 3025 / 2990 / 2965 / 2950

SENSEX (10048.49)

Resistance : 10060 / 10135-50 / 10230-45 / 10295

Suppport : 10025-15 / 9930 / 9885 / 9815-05

NIFTY FUT (3124.55) : Strong Support At 3055/60

Resistance : 3135 / 3155 / 3190

Suppport : 3105 / 3075 / 3055 / 3025

BANK NIFTY (4402.7)

Resistance : 4470 / 4535

Suppport : 4360 / 4300 / 4195

MKT COMMENTS

NIFTY FUT OI up 2.91% with increasing volumes indicating profit booking in long positions plus forming of short positions for STBT.

We expect NIFTY FUT to trade volatile.

On Monday,Opening is Flat to Up,

Stay Long Above 3105,Sl Below 3085,Tgt 3130-3145-3165-3195-3225,

Sustain Below 3085,Sell with Sl Above 3105,Tgt 3070-3055-3035-3005.

Positional Lovers :

Buy NIFTY 3200Ce,When NIFTY Is Around 3020/3040,Sl 2980,Tgt 3080++

Stock Watch :

GMRINFRA , PUNJLOYD , CHAMBAL FERTLISER , EKC , JPASSOCIATES , CENTURYTEXTILES

Buy

BHARAT BIJLEE@ 410, ADANI Above 247,

PRAJIND@ 57, KALPATARU@ 325, APTECH@ 82

ADLABS LOOKING HOT AND FIERY

SAIL(102.8) : Buy Around 100/101,Sl 98,Tgt 106/108+

STERLITE (374.2) : Buy Around 350/60,Sl 335,Tgt 395/405+

GRASIM (1602.95) : Buy Around 1560/70,Sl 1505,Tgt 1650/70/90+

SESAGOA(107.8) : Buy Around 105,Sl 99,Tgt 113/15+

Buy SBIN(1124),Sl Below 1110,Tgt 1140-1150-1160

Buy ACC Above 585/90

Buy RENUKA Above 89

Buy HCLTECH Above 105,Tgt 110/15,Sl 100

Buy BPCL Above 365,Tgt 370-380-390,Sl 360

Buy GAIL Above 240,Tgt 245-250-260,Sl 235

Buy ITC Above 185,Tgt 190-195-205,Sl 180

Buy REDINGTON Above 110,Tgt 113-115-119,Sl 108

Sell BHEL Below 1545,Tgt 1530-1505-1450,Sl 1565

Sell CMC Below 295,Tgt 290-280-270,Sl 300

Sell ONGC Below 805,Tgt 785-760-710,Sl 820

FUTURES

HDFC (1589) : Sell@ 1605/25,Sl 1640,Tgt 1560/45

RIL (1548) : Sell 1565/75,Sl 1585,Tgt 1535/20 (Clear Off Shorts @ 1520)

RCOM (183.85) : Buy@ 175/78,Sl 170,Tgt 190/95

COMEX GOLD (APR) : Momentum studies are rising from mid-range, which could accelerate a move higher if resistance levels are penetrated. The close above the 9-day moving average is a positive short-term indicator for trend. The market could take on a defensive posture with the daily closing price reversal down. The close over the pivot swing is a somewhat positive setup. The next upside objective is 951.4. The next area of resistance is around 941.7 and 951.4, while 1st support hits today at 927.1 and below there at 922

COMEX SILVER (MAY) : Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. The close above the 9-day moving average is a positive short-term indicator for trend. The market has a slightly positive tilt with the close over the swing pivot. The next upside objective is 1388.3. The next area of resistance is around 1367.7 and 1388.3, while 1st support hits today at 1333.3 and below there at 1319.4

Buy April GOLD Above 15185,Tgt 15260-15385-15685,Sl 15080

Sell GOLD Below 15080,Tgt 15065-14925-14640,Sl 15185

Buy May SILVER Below 22350,Tgt 22550-22935-23420,Sl 22020

Sell SILVER Below 22015,Tgt 21925-21550-20925,Sl 22345

Buy April CRUDE Above 2680,Tgt 2715-2735-2790,Sl 2660

Sell CRUDE Below 2655,Tgt 2620-2565-2455,Sl 2675

Buy April COPPER Above 207.8,Tgt 209.7-212.6-213.9,Sl 204.3

Sell COPPER Below 204.3,Tgt 202.9-199.1-192.3,Sl 207.8