Markets For 13/04/2009

NIFTY (3342.05)

Resistance : 3390 / 3450

Support : 3300 / 3275 / 3255 / 3220

SENSEX (10803.86)

Resistance : 10885 / 10940 / 11075 / 11110

Support : 10760 / 10660 / 10610 / 10555-20

NIFTY FUT (3355)

Resistance : 3405 / 3460

Support : 3305 / 3255

MKT COMMENTS

NIFTY FUT OI up 2.63% with 4% decreasing volumes indicating forming of short positions at higher levels.

We expect NIFTY FUT to trade positive with volatility.

On Monday,Opening is Flat to Up,

Stay Long Above 3355,Sl Below 3340,Tgt 3385-3400-3415-3445-3485,

Sustain Below 3335,Sell with Sl Above 3350,Tgt 3305-3285-3260-3245-3210.

BUY & HOLD FOR 1 Week

Buy INFOSYS Above 1455,Sl 1430

Buy TATAELEXSI Above 90,Sl 85

Buy JPASSOCIATE Above 110/15,Sl 100

Buy ADLABS Above 215/20,Sl 200

Buy SBIN (1140),Sl Below 1125,Tgt 1155/70/80

Buy SAIL Above 110,Tgt 115/20/25,Sl 105

Buy RELCAPITAL Above 470,Tgt 488/500/530,Sl 455

Sell ACC Below 585,Tgt 575/65/45,Sl 595

Sell BHEL Below 1500,Tgt 1475/40/1410,Sl 1515

Sell BIOCON Below 150,Tgt 145/40/25,SL 160

Sell SIEMENS Below 285,Tgt 280/70/60,Sl 290

APRIL FUTURES

Buy RENUKA Above 105,Sl 104,Tgt 107/09/11/12

Buy JSWSTEEL,Sl 320,Tgt 380/410

Buy SBIN@ 1110/20,Sl 1100,Tgt 1145/75

Sell RECL Below 97,Sl 98,Tgt 95/94/93/92/90/88 (Lot Size : 3900)

RIL (1733) : Sell 1760/50,Sl 1780,Tgt 1740/20/05

ONGC (884.95) :

Sell@ 915/05,Sl 925,Tgt 885/65

Or

Buy@ 865/75,Sl 850,Tgt 880/895

COMEX GOLD (JUN) : Daily stochastics declining into oversold territory suggest the selling may be drying up soon. The close below the 9-day moving average is a negative short-term indicator for trend. The downside closing price reversal on the daily chart is somewhat negative. It is a mildly bullish indicator that the market closed over the pivot swing number. The next downside objective is now at 871.3. The next area of resistance is around 888.2 and 896.2, while 1st support hits today at 875.8 and below there at 871.3.

WEEKLY:-
Resistance at $888/$894/$898-9day moving average

Support at $876/$870/$865-4 week low/$852/$823-14 day RSI at 30%/$814/$805-13 week low.

POSITIONAL : MCX GOLD SELL 14360/10,Sl 14525,Tgt 14140/040/13880

COMEX SILVER (MAY) : Daily stochastics are trending lower but have declined into oversold territory. The market's short-term trend is negative as the close remains below the 9-day moving average. The close over the pivot swing is a somewhat positive setup. The next downside objective is now at 1196.0. The next area of resistance is around 1241.0 and 1260.0, while 1st support hits today at 1209.0 and below there at 1196.0.

Buy June GOLD Above 14235,Tgt 14310/415/645,Sl 14190

Sell GOLD Below 14170,Tgt 14045/13915/835,Sl 14190

Buy May SILVER Above 20470,Tgt 20670/870/21355,Sl 20375

Sell SILVER Below 20300,Tgt 20150/19825/660,Sl 20375

Buy May CRUDE Above 2725,Tgt 2760/2800/2900,Sl 2700

Sell CRUDE Below 2670,Tgt 2655/2595/2495,Sl 2700

Buy April COPPER Above 229,Tgt 231/33/236,Sl 226

Sell COPPER Below 226,Tgt 223/18/10,Sl 229