Markets For 08-04-2009

NIFTY (3256.9) : Markets Looks Slightly Bearish,With A Fall Of 100-150 Points From The Current Levels

Resistance : 3295 / 3320 / 3360

Support : 3210 / 3165 / 3115

SENSEX

Resistance : 10655 / 10780

Support : 10410 / 10290

NIFTY Fut (3260) : NIFTY Below 3220,Can Test 3100 Levels

Resistance : 3300 / 3345

Support : 3220 / 3185

On Wednesday,Opening is Flat to Down,

Stay Long Above 3260,Sl Below 3245,Tgt 3285-3300-3320-3350-3365,

Sustain Below 3245,Sell with Sl Above 3260,Tgt 3225-3210-3180-3160-3085

Markets Comments :

NIFTY FUT OI down 1.06% with 15% decreasing volumes indicating unwinding of longs at higher levels and forming of short positions for STBT.

We expect NIFTY FUT to trade volatile with possibility of profit booking on every rise.

STOCKS VIEW: BANKING STOCKS WILL NOW BE THE HARDEST HIT IN THE NEXT FALL, STAY AWAY OR SHORT THEM

Sell SBIN (1125),Sl Above 1145,Tgt 1100/1090/1080+

Sell BANKINDIA Below 230,Tgt 220/15/10/05,Sl 235

Sell BIOCON Below 150,Tgt 145/40/30/25,Sl 160

Sell CMC Below 360,Tgt 355/45/35/25,Sl 370

Sell JPASSO Below 100,Tgt 95/90/85/80,Sl 105

Buy BOMBAYDYIENG Above 180,Tgt 190/95/200,Sl 175

Buy MARUTI Above 800,Tgt 810/20/30/40,Sl 790

Buy TATASTEEL Above 235,Tgt 240/45/50/55/60,Sl 230

Buy TCS Above 595

ACCUMULATE JP HYDRO & SCI

APRIL FUTURES

Buy ISPATIND(12.85),Tgt 13.4/13.9/14.7,Sl 12.2

Buy WELGUJ@ 84.5/83.5,Tgt 85/85.4/86.2/87.1/87.9/88.6/89.5/90.4,Sl 79 (Lot Size : 3200)

Sell HINDPETRO@ 262/61,Tgt 260/59/57/55/53/50/47/45/42,Sl 264 (Lot Size : 1300)

GOLD OUTLOOK : We May See Some Bounce Back In GOLD.Try To Buy At 14150/175/200 Levels.