Markets For 11/06/2009

Daily Market Outlook: 11 June 2009

It was indeed someday for the stock market as it continued its march ahead.During the trading session, due to a major downswing Sensex touched an intraday low of 15416, it recovered sharply and finally end the day at its strong support level of 15466.81 points, up by 339.81 points. The sectoral index such as realty swung both ways and from being a gainer in the first half to finally ending the day as a loser, down by 1.14 per cent. Power, Capital goods and consumer durables were the flavour of the day as they closed well in the green and were up by 3.62, 3.46 and 2.74 per cent respectively.

NIFTY (4655.25)

Resistance : 4710 / 4760

Support : 4595 / 4570 / 4530 / 4495

SENSEX

Resistance : 15350 / 15570 / 16040

Support : 14715 / 14305

NIFTY FUT (4661)

Resistance : 4720 / 4790

Support : 4580 / 4480

MKT COMMENTS

NIFTY FUT OI up 2.34% with 6% decreasing volumes indicating forming of long positions.

We expect NIFTY FUT to trade positive with possibility of profit booking at higher levels.

BUY

RCOM,Sl 340,Tgt 365/75/80

MARUTI Above 1115,Sl 1095,Tgt 1140/60

PATELENG Above 425,Sl 420,Tgt 435/40/45+

DABUR Above 110,Sl 105,Tgt 120/23/25

INDUSINDBNK Around 75/80,Sl 70,Tgt 85/90/95 ( Positional)

Sell STERLITE Below 655/60,Sl 665

FUTURES

Buy HINDALCO Above 92,Sl 90,Sl 95.2/95.7/96.5/97.1/98.4/99.3/100/101 (Lot Size : 7036)

Buy RIL Above 2285/90,Sl 2255,Tgt 2320/35/50/65

Sell HPCL Below 322,Sl 325,Tgt 320/18/16/14/11/09/04/01 (Lot Size : 1300)

Sell RELINFRA (1218) Around 1260/55,Sl 1275,Tgt 1230/05

ACC

Buy Around 865/75,Sl 850,Tgt 900/10/20

Sell Around 930/20,Sl 940,Tgt 910/900/890