Markets For 13/05/2009

NIFTY (3681.1)

Resistance : 3735 / 3770 / 3810

Support : 3635 / 3580 / 3540 / 3475

SENSEX (12158.03)

Resistance : 12220 / 12360 / 12450 / 12560

Support : 11990 / 11790 / 11600 / 11420

NIFTY FUT (3689.95) : Nifty is looking range bound between 3500-3800

Resistance : 3750 / 3820

Support : 3640 / 3585 / 3470

BANK NIFTY (5581.3)

Resistance : 5700 / 5810

Support : 5490 / 5375 / 5175

MKT COMMENTS

NIFTY FUT OI UP 1.66% with 21% increasing volumes indicating not only short covering but forming of long positions too.

We expect NIFTY FUT to trade positive.

On Wednesday,Opening is Flat to Up,

Stay Long Above 3660/65,Sl Below 3645,Tgt 3705/35/60/95,

Sustain Below 3640/35,Sell with Sl Above 3655,Tgt 3610/3585/65/35

BUY

INDIAINFO Above 90

GAIL Above 270

SUZLON Above 80,Tgt 84/86/88++,Sl 77

KOTAKBANK Above 485/90,Tgt 500/10/15+,Sl 475

BOMBAYDYIENG Above 210,Tgt 220/25,Sl 215

TITAN,Tgt 890/900,Sl 820

SBIN (1295),Tgt 1310/25+,Sl Blw 1280

BAJAJAUTO Above 685/90,Tgt 700/15/25+,Sl 675

BOB Above 335,Tgt 340/50/60,Sl 325

SIEMENS Above 325,Tgt 330/40/50+,Sl 315

SELL

TATACHEM Below 175,Tgt 171/68/65,Sl 180

ONGC Below 880,Tgt 870/65/55/50+,Sl 890

BIOCON Below 150,Tgt 145/35/30+,Sl 155

FUTURES

ONGC (879.9) : Sell@ 895/900,Sl 905,Tgt 885/75/65

SBI (1258) :

Sell@ 1280/90,SL 1305,Tgt 1245/35

Buy@ 1225/35,SL 1215,Tgt 1250/60/70+

COMEX GOLD (JUN): Momentum studies are trending higher but have entered overbought levels.The market's short-term trend is positive on the close above the 9-day moving average. The market tilt is slightly negative with the close under the pivot. The next upside objective is 923.2. The next area of resistance is around 918.5 and 923.2, while 1st support hits today at 908.9 and below there at 904.1.

COMEX SILVER (JUL): Momentum studies are trending higher but have entered overbought levels.The market's short-term trend is positive on the close above the 9-day moving average. It is a mildly bullish indicator that the market closed over the pivot swing number. The next upside objective is 1425.6. The next area of resistance is around 1412.2 and 1425.6, while 1st support hits today at 1376.8 and below there at 1354.7.