Markets For 09/04/2009

Daily Market Outlook: 09 April 2009

It was a highly volatile trading session for the Domestic markets today. As the Asian markets opened strong, the Indian markets started the day on a positive note. But some profit booking at higher levels kept the indices under pressure throughout the trading session. While the indices witnessed a gap up opening, it could not sustain the higher levels and declined in the morning session. Regarding the market movement, after witnessing high volatility, Sensex closed at 10534.87 (Up 186.04 points) and Nifty closed at 3256.620 points). On the sectoral front, with declining financing cost, Consumer Durables and Automobile indices were up 6.20 per cent and 4.27 per cent respectively. Even Capital goods, metals and realty were up with some improvement on the liquidity front. A good amount of euphoria was seen in the Mid-cap and Small-cap, with both indices gaining more than the Sensex.

NIFTY (3342.95)

Resistance : 3390 / 3435 / 3455 / 3495

Support : 3290 / 3275 / 3240 / 3180

SENSEX

Resistance : 10925 / 10975 / 11170

Support : 10525 / 10350 / 9960

NIFTY FUT (3355)

Resistance : 3430 / 3480 / 3505

Support : 3240 / 3220 / 3185 / 3155

MKT COMMENTS

NIFTY FUT OI up 7.21% with 54% increasing volumes indicating forming of long positions.

We expect NIFTY FUT to trade positive.

On Thursday,Opening is Flat to Up,

Stay Long Above 3340,Sl Below 3320,Tgt 3375-3395-3440-3490,

Sustain Below 3300,Sell with Sl Above 3320,Tgt 3285-3240-3215-3140.

Buy SUNTV Above 190

Buy BAJAJHIND Above 60

Buy NTPC Above 195

Buy RELINFRA,Tgt 650/675,Sl 580

Buy SESAGOA Above 110

Buy PNB Above 455,Tgt 465/70,Sl 450

Buy SBIN (1124),Tgt 1135/45/55,Sl Below 1110

Buy CMC Above 365,Tgt 375-385-400,Sl 360

Buy HDFC BANK Above 1045,Tgt 1080-1110-1185,Sl 1030

Buy HEROHONDA Above 1080,Tgt 1105-1130-1185,Sl 1070

Sell HPCL Below 260,Tgt 255-250-237,Sl 265

Sell M&M Below 445,Tgt 435-425-410,SL 455

Sell CHENNPETRO Below 115,Tgt 110-105-95,Sl 120