Markets For 07/08/2009

NIFTY (4585.5)

Resistance : 4630 / 4695 / 4780

Support : 4555 / 4530 / 4505 / 4460

SENSEX (15514.03)

Resistance : 15840 / 16170

Support : 15315 / 15115

NIFTY FUT (4578)

Resistance : 4620 / 4650 / 4685 / 4760 / 4795

Support : 4560 / 4535 / 4510 / 4440

MKT COMMENTS

NIFTY FUT OI down 3.13% with 17% increasing volumes indicating not only unwinding of long positions plus forming for short positions too.

We expect NIFTY FUT to trade volatile.

On Friday,Opening Is Flat To Negative,

Buy NIFTY Above 4625,Sl Below 4605,Tgt 4640/85/4705/25

Sell NIFTY Below 4600,Sl Above 4620,Tgt 4585/40/20/4500

Buy UNITECH,Sl 80,Tgt 105/10/15/20 (Positional)

Sell

WELSPUNGUJ Below 220,Sl 225,Tgt 215/10/05

RANBAXY Below 275,Sl 280,Tgt 270/65/60+

SBIN (1797),Sl Above 1815,Tgt 1775/65/55

Futures

Buy TATACHEM Above 260,Sl 257,Tgt 262.6/264/66.5/69/71/74/79/80+ (Lot Size : 1350)

Sell INDIAINFO Below 137,Sl 139,Tgt 135.6/33.6/32.3/31/29.6/28.2/26.7/25+ (Lot Size : 2500)

ONGC

Buy Around@ 1130,Sl 1115,Tgt 1145/55/65+

Sell Around@ 1170,Sl 1185,Tgt 1155/45/35+

RELINFRA

Buy Around@ 1150,Sl 1130,Tgt 1175/85

Sell Around@ 1190,Sl 1210,Tgt 1165/55

STERLITE

Buy Around@ 630/35,Sl 625,Tgt 645/50

Sell Around@ 670/65,Sl 670,Tgt 655/45

Daily Support & Resistance level [07-Aug-2009]
	Supports		Resistances
	S1	S2	CLOSE	R1	R2
NIFTY Futures	4590	4641	4696	4732	4800	Strong above R2
Axis Bank	815	839	851	866	885	Strong above R2
TCS	508	522	530	541	553	Go Short with stop loss above R2
DLF	375	382	391	402	407	Strong above R2
L&T	1455	1485	1515	1521	1580	Strong above R2
ICICI Bank	747	757	773	786	804	Strong above R2
Infosys	2021	2046	2095	2115	2148	Go Short with stop loss above R2
J P Associates	236	239	244	247	255	Strong above R2
Maruti	1398	1420	1441	1467	1513	Strong above R2
Reliance	2003	2053	2075	2114	2180	Go long with stop loss below S2
Reliance Capital	880	895	913	929	952	Go long with stop loss below S2
Reliance Comm	265	275	280	286	293	Go long with stop loss below S2
SAIL	167	171	175	178	182	Strong above R2
SBI	1780	1798	1845	1886	1935	Strong above R2
Tata Motors	435	441	450	462	475	Go long above R2,Go short below S2
Tata Steel	455	465	473	483	492	Strong above R2
Rel Infra	1168	1186	1212	1234	1267	Go Short with stop loss above R2