Markets Weekly For 15/6/09 To 20/6/09

WEEKLY MARKET OUTLOOK

Recommencement Of Trading In Shares On 16/6/09

SHREE PRECOATES STEELS

NSE Listings Of Shares On 16/6/09

UB ENG LTD.

S E INV LTD.

KEMROCK IND & EXP Ltd

WEEKLY NIFTY FUTURE OBSERVATION

Observation:-

1) Total OI of NIFTY FUT up 4.44%, NIFTY FUT closed flat last week.

2) Out of NIFTY 50 Stock FUTS, 20 Stock FUTS closed positive, 23 Stock FUTS closed negative and 7 Stock FUTs close flat last week.

3) Total OI of NIFTY 4500 CE is up 1.94% prices down 15.53% and NIFTY 4600 CE is up 2.21% prices down 20% last week showing not only profit booking plus call writing. OI of NIFTY 4700 CE is up 174.60% prices down 27.75% showing aggressive call writing. OI of NIFTY 4700CE is 38.14 LK, highest OI in CALLs.

4) OI of NIFTY 4200 PE is down 12.22% prices down 42.26% last week showing short covering. OI of NIFTY 4300 PE is up 12.26% prices down 37.90%, NIFTY 4400 PE is up 12.12% prices down 30.50% and NIFTY 4500 PE is up 21.18%, prices down 23.90% last week showing short covering plus buying at lower levels. OI of NIFTY 4500 PE is 33.43 LK highest OI in PUTs.

5) Total OI of JUNE series CALLs is up by 37.63 LK to 2.61 CR. JUNE series PUTs is up by 34.19 LK to 3.13 CR. JUNE series PCR (OI) at 1.19.

NIFTY (4583.4) : Support Around 4450,If Broken 4335 May Be Seen

Resistance : 4660 / 4725 / 4775 / 4865

Support : 4555 / 4450 / 4400 / 4375 / 4335 / 4215

SENSEX (15237.94)

Resistance : 15465 / 15655 / 15720 / 15950 / 16200

Support : 15120 / 14975 / 14640 / 14450 / 14265 / 14050

NIFTY FUT (4588.85) : 4500 Pe OI of 33 Lacs & 4700 Ce OI of 38 lacs,,So 4500 & 4700 our Important Levels

Resistance : 4640 / 4695 / 4735 / 4880

Support : 4565 / 4520 / 4445 / 4415 / 4240

BANK NIFTY (7060.95)

Resistance : 7100 / 7350 / 7630

Support : 6800 / 6550

GOLD : Range Of 14400-14700

Resistance : 14720

Support : 14320 / 14270

SILVER : Range Of 182-191

Resistance : 194 / 197

Support : 178

SECTOR WATCH : BANKING
Trend : Bearish
Total OI of BANKBARODA FUT up 58% prices flat, BANKINDIA FUT up 19% prices down 8%, CANBANK FUT up 136% prices down 14%, KOTAKBANK FUT up 21% prices flat, SBIN FUT up 49% prices down 9% and UNIONBANK FUT up 118% prices up 7% last week.

Most of BANKING STOCK FUTs showing shorts build up last week. Only UNIONBANK FUT showing long positions.

We expect BANKING STOCK FUTs to show down move next week. STOCK FUT TO WATCH NEXT WEEK

SBIN FUT
Trend : Bearish
Total OI of SBIN FUT up 49% prices down 9% last week. Intraday high 1803.60, Intraday low 1628.40 last week. We expect SBIN FUT to show down move in coming week.

Conclusion :-

I Expect NIFTY SPOT to show down move with volatility. NIFTY SPOT Minor Support 4500-4510, 4460-50 levels, below 4450 levels. Next TGT will be 4400-4410 levels, Major support. Possibility of bounce from 4400 levels, below 4375 levels, next Target will be 4330-4340. Any bounce should be used to exit longs. On upside, NIFTY SPOT will face Resistance 4620-30,Major Resistance 4670-80 , 4720-30 levels.