Markets For 13/08/2009

It was a decent session of trade today through heavy news flow - poor global cues, monsoon woes and swine flu worries. The market discounted the robust IIP numbers and recovered from the day's lows to close almost flat today. Sensex shut shop at 15020, down 54 points and Nifty at 4457, down 13 points from the previous close. CNX Midcap index was down 0.25% and BSE Small cap index was up 0.47%. The market breadth was negative with advances at 520 against declines of 715 on the BSE. Top Nifty gainers included Bharti Airtel, Ranbaxy and Tata Motors while losers were Tata Steel, TCS and Cairn India.

The market did open flat to negative and once again due to short selling we seen decent downside and nifty as expected by me could not break the major support zone of 4345 (50 EMA ) and turned very smartly to kiss and intraday immediate resistance level of 4470 (3 EMA) and closed above 4385 which is its major support for the week. Market will face again stiff resistance near 4550-60 range in days to come and if it fails to sustain above this mark then we can see this selling continue towards 4355-25 level in this week too.Still we are having good support zone near 4380-4350 range for this week and on close to close base if we are going to hold it then there would be relief rally in the upside is not ruled out till 4525-55 as well.Global cues are if not going to help then gap down open can lead another round of sell off but again not much below 4410-4350,overall strength is weak looking until we cross decisively above 4525 level on close to close basis.

NIFTY (4457.5)

Resistance : 4495 / 4520 / 4550 / 4585 / 4625

Support : 4415 / 4385 / 4335 / 4280

SENSEX (15020.16)

Resistance : 15165 / 15305

Support : 14790 / 14555

NIFTY FUT (4460) : NIFTY Would Face Resistance @ 4585 & 4635 Levels.Book Maximum Profits Around These Levels.

Resistance : 4505 / 4550 / 4580 / 4630

Support : 4380 / 4305 / 4260

MKT COMMENTS

NIFTY FUT OI up 2.22% with 5% increasing volumes indicating forming of long positions.

We expect NIFTY FUT to trade positive with volatility.

On Thursday,Opening Is Flat To Positive,

Buy NIFTY Above 4440,Sl Below 4410,Tgt 4455/4485/4520/4550

Sell NIFTY Below 4400,Sll Above 4430,Tgt 4385/4355/4320/4290

BUY

DISHTV Abv 40,Sl 35,Tgt 45/50/55+ (Positional)

APTECH,Sl Below 195,Tgt 210/15/25+ (Positional)

JPASSOCIATES@ 205/10,Sl Below 180,Tgt 225/40/55/70/85+ (Positional Delivery)

LITL Around 415,Sl 410,Tgt 425/35+(Positional)

IDEA@ 75,Sl 70,Tgt 80/85/90

TATAMOTORS@ 445,Sl 435,Tgt 455/65/75+

BANKINDIA@ 315,Sl 310,Tgt 320/25

PNB@ 680,Sl 670,Tgt 695/700/705

SBIN (1703),Sl Below 1675,Tgt 1715/25/35

Futures

DLF (373.1) : Buy@ 365,Sl 360,Tgt 375/80/85 (Close Above 385,Go For BTST)

BHARTI : Buy@ 405,Sl 395,Tgt 410/15/20/25/30/35/40 [Lot Size : 250]

INFY (2043) : Sell@ 2060,Sl 2080,Tgt 2030/20/10/1990

TISCO (443.7) : Sell@ 450,Sl 460,Tgt 440/35/30/25

SESAGOA : Sell@ 230,Sl 233,Tgt 227/25/23/21/15/14/12 [Lot Size : 1500]