Markets For 06/04/2009

NIFTY (3211.05)

Resistance : 3250 / 3275 / 3295 / 3315 / 3335

Support : 3190 / 3165 / 3140 / 3105 / 3060 / 3000

SENSEX (10348.83)

Resistance : 10405 / 10485 / 10555 / 10625 / 10690

Support : 10315 / 10295 / 10225 / 10160 / 10005 / 9960

NSE FUT (3222.6) :

3265 Is A Important Level ; If Not Crossed & Sustained,We Can See Some Correction

Resistance : 3265 / 3300 / 3325

Support : 3200 / 3165 / 3105

BANK NIFTY (4423.85)

Resistance : 4525 / 4620

Support : 4400 / 4300 / 4185

MKT COMMENTS

NIFTY FUT OI up 3.96% with 15% decreasing volumes indicating forming of long positions for BTST.

We expect NIFTY FUT to trade positive with some volatility at higher levels.

Nifty if can test and cross 3250 – 3300 and stay above then 3480 – 3500 is a possibility, booking profits would be advisable there, we can re-enter once new Govt. is in place. The crisis which began in 2008/Jan would keep people booking profits as market goes up. Tuesday would be a market holiday hence chances of booking some profits cannot be rules out.

On Monday,Opening is Flat to Up,

Stay Long Above 3210,Sl Below 3180,Tgt 3275-3335,

Sustain Below 3180,Sell with Sl Above 3210,Tgt 3105-3040.

Stocks For Short Term:

ADLABSFILM (Above 199) , AIAENG (Above 140) , APTECHT (Above 103) , FINANTECH (Above 685) ,

IDFC (Above 62) , JPHYDRO , GSPL (Above 41) , CAIRN INDIA (Above 195/200)

Buy INDIA CEMENTS Above 110/15

Buy 20MICRONS Above 15,Tgt 17/19/21

Buy NTPC Above 185

Buy PFC Above 145,Tgt 150/55,Sl 140

TATA MOTORS Headed For 235

Buy ACC Above 605,Tgt 615-625-645+,Sl 595

Buy BHARTI Above 640/45,Tgt Target 655-665-690+,Sl 625

Buy GRASIM Above 1605,Tgt 1625-1645-1695,Sl 1595

Buy SAIL Above 105,Tgt 115-120-130,Sl 100

Sell VSNL Below 525,Tgt 515-505-485,Sl 535

Sell MARUTI Below 795,Tgt 775-735-695,Sl 805

APRIL FUTURES

ICICIBANK : Sell Below 50%@ 370/65,Another 50%@ 335/30,Sl 385,Tgt 320/305/295/285

BHARTI (638.45) : Buy@ 625/30,Sl 620,Tgt 645/55/65

ONGC (870.40) : Buy@ 850/60,Sl 830,Tgt 875/85/95/905/915/920

RIL (1662) : Buy@ 1630/45,Sl 1605,Tgt 1665/85/1715/1755

CAIRN (201) : Buy@ 195/200,Sl 190,Tgt 205/210/215

COMEX GOLD (APR) 04/03/2009: The major trend has turned down with the cross over back below the 60-day moving average. Declining momentum studies in the neutral zone will tend to reinforce lower price action. The market back below the 18-day moving average suggests the intermediate-term trend could be turning down. There could be some early pressure today given the market's negative setup with the close below the 2nd swing support. The next downside target is now at 872.7. The next area of resistance is around 921.3 and 943.5, while 1st support hits today at 885.9 and below there at 872.7.

Buy GOLD June Above 14770,Tgt 15040/15450+,Sl 14670

Sell GOLD Below 14600,Tgt 14235/13950/13675,Sl 14700 (Positional Sell With Sl 15130)

COMEX SILVER (MAY) 04/03/2009: Declining momentum studies in the neutral zone will tend to reinforce lower price action. A negative signal for trend short-term was given on a close under the 9-bar moving average. It is a slightly negative indicator that the close was under the swing pivot. The next downside target is 1229.9. The next area of resistance is around 1322.7 and 1348.8, while 1st support hits today at 1263.3 and below there at 1229.9.

Buy May SILVER Below@21665,Tgt 22280,Sl 21500

Buy PEPPER,Sl 11610,Tgt 12335/12700 (Positional)