Markets For 06/05/2009

NIFTY (3661.9) : Markets To Correct & Buying To Emerge From The Range Of 3590/3620

Resistance : 3690 / 3720 / 3745 / 3775

Support : 3655 / 3625 / 3590 / 3545

SENSEX (12131.08) : Start Booking Profits,Around Sensex Of 12200/500 & Remain Light (Stay On Cash) : SENSEX Double Top At 12185

Resistance : 12225 / 12320 / 12565 / 12860

Support : 12100 / 12000 / 11890

NIFTY FUT (3665.2) : Expect NIFTY To Be In Range Of 3620-3720

Resistance : 3700 / 3735 / 3760 / 3820

Support : 3660 / 3625 / 3590 / 3575

BANK NIFTY (5575.8)

Resistance : 5645 / 5710

Support : 5550 / 5485 / 5400

MKT COMMENTS

NIFTY FUT OI flat with 20% increasing volumes indicating unwinding of Longs plus forming of shorts too.

We Expect Nifty Fut to trade Volatile, possibility of profit booking at higher levels.

On Wednesday,Opening is Flat to Up,

Stay Long Above 3660,Sl Below 3640,Tgt 3675-3590-3715-3745-3760,

Sustain Below 3635,Sell with Sl Above 3655,Tgt 3620-3590-3575-3555-3540.

Positional High Risk NIFTY Lovers : Buy NIFTY 3590/3620,Sl 3550,Tgt 3365/3395/3720/3750+

BUY

ADLABS Above 245,Sl 240,Tgt 250/55/60++

BALRAMCHINI Above 78

UNIONBANK Above 175

PUNJLOYD,Sl 124,Tgt 140/45/50+

ROLTA Above 85,Sl 80,Tgt 90/95/100++

LNT ABOVE 985,Sl 965,Tgt 1000/20/40/60++

TATAMOTORS Above 270,Sl 260,Tgt 280/90/300+

INFOSYS Around 1500/10

TCS Around 625

SELL

SBIN (1345),Sl Above 1360,Tgt 1330/20/10

IOB Below 65,Sl 67,Tgt 62/60/59

ABB Below 465,Sl 470,Tgt 455/45/40+

GRASIM Below 1800,Sl 1820,Tgt 1780/70/60/50

BOMBAYDYIENG Below 195,Sl 205,Tgt 190/85/80

GAIL Below 260,Sl 265,Tgt 255/50/45/40+

HEROHONDA Below 1200,Sl 1215,Tgt 1185/70/50++

Stock Rumours

ICICI to list ICICI PRU soon,Hence Positional Tgt 600/640/680/700++++

LARSEN Looks Bullish ,Tgt 1050/70+

REALTY Still Looks Bullish

ANULABS , MOSERBAER , ZYLOG Start Its Rally Again (10/15% Appreciation From CMP)

FUTURES

Buy SCI 89/91,Sl 86,Tgt 93.2/94.1/95/96.9/97.8/98.7+ (Lot Size : 4800)

Sell ABB 465/75,Sl 480,Tgt 459/55/52/56/42/37+ (Lot Size : 500)