Markets For 17/08/2009

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The market did open gap up and due to short recovery we seen decent rally since morning and nifty as expected by me once crossed the resistance level of 4550 there was decent buying and long seen above this mark and nifty crossed and closed with a decent gain and closed above its major resistance zone of 4550.Global peers if going to support then another decent opening is not ruled out in the Indian market which can lead our market to kiss 4651 and then 4730 in the higher side in no time.the market will face mild selling pressure near 4650 tomorrow but as long as it holds the major downside supports level of 4545-30 every downside will attract short recovery and it will come up again.Over all sentiments are turned to neutral to positive as of now and our market will continue to keep flying until any global sell off is comes.

NIFTY (4580.5)

Resistance : 4615 / 4660 / 4695 / 4725

Support : 4545 / 4505 / 4490 / 4460 / 4405

SENSEX (15411.63)

Resistance : 15705 / 15885

Support : 15175 / 14835

NIFTY FUT

Resistance : 4605 / 4650 / 4675 / 4700 / 4730

Support : 4550 / 4515 / 4480 / 4355

MKT COMMENTS

NIFTY FUT OI down 3.76% with 3% increasing volumes indicating unwinding of long positions.

We expect NIFTY FUT to trade volatile.

On Monday,Opening Is Flat To Up,

Buy NIFTY Above 4585,Sl Below 4570,Tgt 4605/30/50/80/4710

Sell NIFTY Below 4570,Sl Above 4585,Tgt 4550/25/05/4475/45

BUY

ERAINFRA Above 165,Sl Below 150,Tgt 185/95/205/15 (Positional)

GSPL Above 75,Sl 70,Tgt 80/85 (Positional)

SBI (1798),Sl Below 1775,Tgt 1825/35

TATASTEEL, Sl 455,Tgt 485

EKC Above 195,Sl 190,Tgt 205/10

POLARIS Above 135,Sl 130,Tgt 140/45

ESSAROIL Above 140,Sl 135,Tgt 145/50

SPARC Above 70,Sl 65,Tgt 75/80

BHARTI

Buy Above 410,Sl 405,Tgt 415/20/25

Sell Below 405,Sl 410,Tgt 400/395/90

RELCAP

Buy Above 860,Sl 850,Tgt 870/80/90

Sell Below 850,Sl 860,Tgt 840/30/20

LNT

Buy Above 1500,Sl 1490,Tgt 1510/20/30

Sell Below 1485,Sl 1495,Tgt 1475/65/55

ABAN : Resistance@ 1215/25,Support@ 1070/60,Can Be Traded On Either Sides,Stoploss Of 2%

AUROBINDO PHARMA : Till 610/15 holds stock is Bullish.

BALRAMPUR: Below 115 stock is weakish.

CAIRN / RIL / VOLTAS / HPCL / BFUTILITIES : Both looking Bullish.
CHENNAIPETRO : If 165/70 holds stock is Bullish

INDUSINDBNK: Bullish Breakout, Trade Cautiously.
JETAIR : Bullish Breakout ,Risky Positional Traders,Sl 10%

RNRL: Watch Below 78

KOTHARISUGAR : Weak Below 14,Tgt 12/11,Tgt 15

FUTURES

BUY

KFA@ 50,Sl 48,Tgt 51.7/52.1/52.7/53.2/53.6/54.2/55 [Lot Size : 4850]

RELCAP (855.1)@ 845,Sl 830,Tgt 860/70/80

SBI (1797) Around 1775,Sl 1760,Tgt 1805/20/30/45

HINDUNILEVER 270Ce Around 3,Sl 1.25,Tgt 6/9/12

SELL

BALRAMCHINI@ 120,Sl 123,Tgt 119/118/117/115.8/114.6/113.4/112.2/111/110 [Lot Size : 2400]

TATACHEM Below 255,Sl 260,Tgt 250/45

MOSERBAER Below 85,Sl 87,Tgt 81/79/75

COMMODITY

GOLD (OCT)

Buy Above 14935,Sl 14880,Tgt 14975/15060/15125

Sell Below 14880,Sl 14935,Sl 14860/14830/14665

SILVER (SEPT)

Buy Above 23835,Sl 23670,Tgt 23955/24195/24520

Sell Below 23670,Sl 23835,Tgt 23630/23545/23510

CRUDE (SEPT)

Buy Above 3410,Sl 3370,Tgt 3435/3495/3585

Sell Below 3360,Sl 3400,Tgt 3360/35/3270

COPPER (AUG)

Buy Above 304,Sl 301,Tgt 308/12/15

Sell Below 301,Sl 304,Tgt 297/93/90