Markets For 23/04/2009

Join Our Premium Group For Just Rs.500/Week : COMBOPACK (EQUITIES / FUTURES / COMMODITIES / CURRENCY) & Get NIFTY & STOCK OPTIONS CALLLS FREE

Contact Us : SHAREBAZAARONLINE@gmail.com,SHAREBAZAARONLINE@ymail.com

It was a highly volatile day for the Indian equity markets. Both the leading Indices opened in green on account of strong recovery made by the US markets and good opening of Asian markets. But it could not sustain the gains and crumbled in the afternoon session. While Sensex closed at 10817.54 (Up 80.57 points) Nifty closed at 3330.30 (Down 35 points). If we take a look at market movement, it indicates that, rate sensitive sectors like realty and consumer durables had a good run in last few trading sessions. Today these sectors witnessed a good amount of profit booking and declined almost 4 per cent. Markets breadth was negative with 1064 advances and 1443 declines. One important factor in today’s decline is, it has happened with higher volumes, which is a weak sign for the markets.

NIFTY (3330.30)

Resistance : 3365 / 3390 / 3410 / 3450

Support : 3300 / 3285 / 3250 / 3225 / 3160

SENSEX (10818)

Resistance : 10950 / 11000 / 11090

Support : 10675 / 10600 / 10535 / 10450

NIFTY FUTURE (3323)

Resistance : 3385 / 3445

Support : 3275 / 3240 / 3225

MKT COMMENTS

NIFTY FUT OI down 8.56% with 5% decreasing volumes indicating unwinding of long positions.

We expect NIFTY FUT to trade volatile. Selling will emerge on every rise.

On Thursday,Opening is Flat to Down,

Stay Short Below 3360,Sl Above 3380,Tgt 3310-3255,

Sustain Above 3380,Buy with Sl Below 3360,Tgt 3415-3470.

Positional Traders : Buy NIFTY@ 3300/20,Sl 3280,Tgt 3350/3400+

Results Tomorrow :

JINDALDRILLING / MMTC / SKFINDIA / HCLINFO / BINANIINDS / BINANICEMENTS / VSTINDS / RIL / HDFCBANK / RELINFRA / IDEA / BAJAJHIND / RPOWER / RNRL / ZEENEWS / RPL / MAHSEAMLESS / LIC

Sell SAIL Below 105,Sl 110

Sell JETAIRWAYS Below 195,Tgt 190/85/80,Sl 200

Sell BOB Below 285,Tgt 280/70/55,Sl 295

Sell CIPLA Below 225,Tgt 220/15/05,Sl 235

Sell GAIL Below 245,Tgt 240/35/25,Sl 255

Sell ABB Below 500,Tgt 495/85/80,Sl 505

Buy COLGATE Above 465,Tgt 470/75/85,Sl 455

Buy UNIONBANK Above 165,Tgt 170/75/80/85,Sl 160

Buy VSNL Above 560,Tgt 575/90/605/15+,Sl 545

Buy ADANIENTERPRISE Above 375

Buy SUZLON Above 60,Tgt 63/65/68/70,Sl 55

Buy LICHSG Above 300/05,Sl 290

Buy WIPRO Above 280/85,Sl 270

Buy PANTALOON Above 185/90

Buy WOCKHARDT Above 100/05,Tgt 110/15/20,Sl 95

FUTURES

Buy ISPATIND (14.55),Tgt 15/15.3/15.5/16,Sl 13.7

Buy RIL (1716) 1700/10,Tgt 1725/35/55,Sl 1680

Buy RPOWER 126/27,Tgt 127.5/128.2/129.4/130.6/132/133/134.4/135+,Sl 120 (Lot Size:2000)

Buy ACC (645.75) 635/40,Tgt 650/55,Sl 625

Buy BHEL (1583) 1560/70,Tgt 1580/90/1600+,Sl 1545

Sell BHEL (1583) 1605/10,Tgt 1580/70/65,Sl 1630

Sell MOSERBAER 63/64,Tgt 62.7/62.4/61.2/60.7/59.9/59.3/58.6/58,Sl 65 (Lot Size:4950)