Markets For 27/04/2009

NIFTY (3480.75)

Resistance : 3515 / 3550 / 3580

Support : 3455 / 3425 / 3395 / 3360

SENSEX (11329.05) : Sustained Above 11350/450 Levels,Huge Resistances At 12200/12500,If 12200/500 Not Sustained We May Have A Fall Upto 11000/10700 Levels.

Resistance : 11385 / 11440 / 11485 / 11550

Support : 11295 / 11255 / 11200 / 11145 / 10960

NIFTY FUT (3482.05) : Expect Market To Make Resistance At 3560 Levels,Where Selling Pressure May /be Seen (Only Intrday Basis)

Resistance : 3520 / 3535 / 3560 / 3620 / 3650

Support : 3465 / 3425 / 3390 / 3350

BANK NIFTY (5127.5)

Resistance : 5210 / 5290

Support : 5075 / 4990 / 4860

MKT COMMENTS

NIFTY FUT OI (both series) marginal down with decreasing volumes indicating short covering plus forming of long positions for BTST.

We expect NIFTY FUT to trade positive.Weekly Charts are Strong for more Upmove,After Expiry may see Breakout Above 3745/3780 Levels.

On Monday,Opening is Flat to Up,

Stay Long Above 3490,Sl Below 3470,Tgt 3505/3525/3545/3570/3595,

Sustain Below 3460,Sell with Sl Above 3480,Tgt 3425/3390/3370/3345.

Positional Traders : Buy NIFTY,Sl 3430,Tgt 3520 / 3550

Results : JPASS / BOB / AREVA / INDIANBANK / ABANOFF / CASTROL / RENUKASUGAR / GEOMETRIC / UNITEDSPRITS

April 27& 28,Markets Can Move Up,excepts Some Minor Intraday Corrections.While On April 29,We May A Fall From The Highs During Opening Bell

Buy INFOSYS Aboce 1465

Buy BAJAJHIND Above 77,Tgt 80/85/85,Sl 75

Buy RPOWER Above 134/35,Tgt 145/50/55+,Sl 125

Buy RELINFRA,Tgt 750/775/800,Sl 715

Buy RCOM Above 205,Tgt 215/20/25,Sl 200 (Positional Sl 190,Tgt 230/40/50+)

Buy SBI (1311),Tgt 1335/50/65/75+,Sl 1290

Buy CANBNK Around 195,Tgt 200/05/10/15,Sl 190

Buy DRREDDY Above 555/60,Tgt 565/70/75,Sl 445

Buy HEROHONDA Above 1150,Tgt 1165/80/1225,Sl 1130

Sell BAJAJAUTO Below 620,Tgt 610/590/560,Sl 635

Sell TATAELEXSI Below 106,Tgt 104/100/95+,Sl 110

Sell TATASTEEL Below 260,Tgt 255/45/30,Sl 270

FUTURES

Buy GSPL (41.35),Sl 38.5,Tgt 45/48+

Buy LT (886.25) 865/75,Sl 855,Tgt 900/05/10/20

Buy REL (739.5) 715/25,Sl 700,Tgt 745/60+

Buy RIL (1785) 1755/65,Sl 1745,Tgt 1800/15/35/45

Buy INDIACEM@ 124/25,Sl 122,Tgt 127/127.5/128/129.3/130.6/131.5/133 (Lot Size : 2900)

Sell ZEEL@ 117/14,Sl 122,Tgt 112.2/111/109.5/108.7/107.6/106 (Lot Size : 2800)

COMMODITY

Buy June GOLD Above 14675,Tgt 14770/905/15230,Sl 14615

Sell GOLD Below 14560,Tgt 14420/205/095,Sl 14615

Buy May SILVER Above 21240,Tgt 21420/650/905,Sl 21140

Sell SILVER Below 21045,Tgt 20820/450/260,Sl 21140

Buy May CRUDE Above 2555,Tgt 2615/55/90+,Sl 2545

Sell CRUDE Below 2535,Tgt 2495/15/2300,Sl 2545

Buy April COPPER Above 225.3,Tgt 229.1/232.1/242.2,Sl 223.8

Sell COPPER Below 222.1,Tgt 218.9/211.9/201.8,Sl 223.8