Markets For 12/08/2009

After three days of weakness, the market closed in the positive today but saw a volatile session. Sensex shut shop at 15074, up 64 points and Nifty at 4471, up 33 points from the previous close. In the morning session, despite Asian markets opening in green Indian markets witnessed a negative start. But it recovered immediately and entered the positive zone and stayed there for long duration. But like last three trading sessions heavy selling towards the end of trading session resulted in market entering the negative zone. But again some value buying helped the market recover and close in green. On the sectoral front, Auto, Real Estate and metals witnessed good amount of buying. But rest of the sectoral indices closed with marginal gains. Market breadth was positive today with 1356 advances and only 1282 declines.

NIFTY (4471.35)

Resistance : 4495 / 4535 / 4570

Support : 4465 / 4410 / 4350

SENSEX (15074.59)

Resistance : 15240 / 15315 / 15410

Support : 14885 / 14700 / 14615 / 14525

NIFTY FUT

Resistance : 4520 / 4550 / 4575

Support : 4405 / 4380 / 4325

MKT COMMENTS

NIFTY FUT :-

OI down 2.59% with flat volumes. NIFTY AUG series PCR (OI) at 0.95. Short covering. Buying seen in 4400 CE.

Short covering plus buying seen in 4500 CE, 4600 CE. Total OI of NIFTY AUG series CALLs is up by 2.59 LK to 2.37 CR.

Volumes down 12.95%, 4700 CE highest OI in Calls.

Put writing seen in 4300 PE, 4400 PE. Total OI of NIFTY AUG series PUTs is up by 15.26 LK to 2.25 CR.

Volumes down 11.20%, 4400 PE highest OI in PUTs.

LONG POSITIONS :-

ABAN, ACC, ADLABSFILM, BAJAJHIND, BALRAMCHIN, BRFL, CUMMINSIND, DRREDDY, FSL, GVKPIL, HCC, HCLTECH, IFCI, JINDALSAW, LUPIN, NAGARCONST, RELIANCE, RENUKA, RPL, TRIVENI.

UNWINDING OF LONG POSITIONS :-

CAIRN, ONGC, SAIL, STER, WELGUJ.

SHORT POSITIONS :-

BANKINDIA, INDHOTEL, JPASSOCIAT, ORIENTBANK, ZEEL.

SHORT COVERING :-

AXISBANK, CROMPGREAV, HINDUNILVR, ITC, JINDALSTEL, M&M, MARUTI, PUNJLLOYD, RANBAXY, RCOM, SBIN.

SECTORS TO WATCH NEXT SESSION :-

SUGAR, REALITY.

On Wednesday,Opening Is Flat To Down,

Buy NIFTY Above 4485,Sl Below 4465,Tgt 4525/4540/4575/4600

Sell NIFTY Below 4460,Sl Above 4480,Tgt 4420/4405/4370/4345

BUY

ROLTA Abv 140,Sl 135,Tgt 145/50/55+

PBAINFRA Above 60,Sl 55,Tgt 65/70

BAJAJHIND Above 185,Sl 180,Tgt 195/200/205

SBIN (1729),Sl Above 1715,Tgt 1740/50/60

SRF Above 150,Sl 145,Tgt 160/70/80

SELL

ESSAROIL Below 135,Sl 140,Tgt 130/25

IVRCLINFRA Below 300,Sl 305,Tgt 295/90/85

RELCAP Below 830,Sl 840,Tgt 820/15/10