Markets For 27/05/2009

NIFTY (4116.7)

Resistance : 4155 / 4220 / 4265 / 4320

Support : 4085 / 4055 / 3995

SENSEX (13589.23)

Resistance : 13820 / 13880 / 14170

Support : 13415 / 13275 / 13235 / 12890

NIFTY FUT (4114)

Resistance : 4210 / 4310

Support : 4050 / 4020 / 3990

MKT COMMENTS

NIFTY FUT OI (both series) up with increasing volumes indicating unwinding of longs plus forming of shorts too.

We expect NIFTY FUT to trade volatile, bounce expected from lower levels.

On Wednesday,Opening Is Flat To Up,

Buy NIFTY Above 4145/50 Below 4130,Tgt 4175/4195/4230/4255

Sell NIFTY Below 4130/25,Sl Above 4145,Tgt 4080/4050/4020/3980

Results On 27/05/2009 :

BHEL / CAIRN / JINDALSTEEL / MRPL / EMCO / HERCULESHOISTS / GODREJINDS

BUY

CIPLA Above 118,Tgt 123/25/28

REDINGTON Above 225,Sl 215,Tgt 235/40

LICHSG Above 450/55

UNIONBANK Above 200,Sl 190,Tgt 205/15/25+

TATAPOWER Above 1070,Sl 1055,Tgt 1105/35/55/65+++

MASTEK Above 235,Sl 225,Tgt 245/55/65/75

SELL

SBIN (1689),Sl Above 1710,Tgt 1665/50

KOTAK Below 625,Sl 635,Tgt 615/10

PATNI Below 210,Sl 220,Tgt 205/195/185

ZEETELE Below 170,Sl 180,Tgt 160/50/40+

MARUTI Below 955,Sl 965,Tgt 945/25/05+

FUTURES

STER (539.2)

Support : 531/524/524

Resistance 547/553/558/565

HINDALCO : Buy@ 80,Sl 78,Tgt 82/83/84/85/86/87 (Lot Size : 7036)

INDHOTEL : Sell@ 63/64,Sl 65,Tgt 62/61/60/59/58/57 (Lot Size : 7596)

COMEX GOLD (AUG): Rising stochastics at overbought levels warrant some caution for bulls. The close above the 9-day moving average is a positive short-term indicator for trend. The close over the pivot swing is a somewhat positive setup. The near-term upside objective is at 971.3. With a reading over 70, the 9-day RSI is approaching overbought levels. The next area of resistance is around 965.3 and 971.3, while 1st support hits today at 952.5 and below there at 945.8.

COMEX SILVER (JUL): Momentum studies are trending higher but have entered overbought levels. A positive signal for trend short-term was given on a close over the 9-bar moving average. Market positioning is positive with the close over the 1st swing resistance. The next upside objective is 1510.2. With a reading over 70, the 9-day RSI is approaching overbought levels. The next area of resistance is around 1491.5 and 1510.2, while 1st support hits today at 1448.5 and below there at 1424.3.