Markets From 24/08/2009 To 29/08/2009

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WEEKLY MARKET OUTLOOK

WEEKLY NIFTY FUTURE OBSERVATION

Observation:-

1) Total OI of NIFTY FUT up 19.71%, NIFTY AUG FUT closed flat last week.

2) Out of NIFTY 50 Stock FUTS, 15 Stock FUTS closed positive, 26 Stock FUTs closed negative and 09 Stock FUTs close flat last week.

3) OI of current series NIFTY 4400 CE is up 35.35% prices down 26.49 %, NIFTY 4500 CE is up 52.83% prices down 43.11% last week showing buying. OI of NIFTY 4600 CE is up 34.15% prices down 61.66% showing call writing. OI of NIFTY 4600 CE is 42.85 LK highest OI in CALLs.

4) OI of current series NIFTY 4200 PE is up 32.04% prices down 66.98%, NIFTY 4300 PE is up by 31.41% prices down 61.51% and NIFTY 4400 PE is up by 30.75% prices down 48.18% last week showing put writing. OI of NIFTY 4300 PE is 49.79 LK highest OI in PUTs.

5) Total OI of AUG series CALLS is up by 10.82 LK to 2.49 CR, AUG series PUTs is up by 26.25 LK to 2.81 CR. NIFTY AUG series PCR (OI) at 1.13.

NIFTY(4528.8)

Resistance : 4550 / 4605 / 4670 / 4725 / 4770 / 4815

Support : 4495 / 4455 / 4405 / 4365 / 4320 / 4275

SENSEX (15240.83) : Has Short Term Support@ 14700/800 Zone

Resistance : 15325 / 15445 / 15680 / 15885/16085

Support : 15130 / 15010 / 14855 / 14735 / 14585

NIFTY Has Sentimentally Huge Support Near 4320/4280 Zone & Big Resistance Around 4770/4810 Zone.

Sustains Below 4320/4280 For 4 Days, Heading Towards 4200/4100/3950/3850/3650

Sustains Above 4770/4810 For 4 Days, Heading Towards 4890/4990/5140/5240/5440

SECTOR WATCH : CAPITAL GOODS (BULLISH)

Total OI of ABB FUT up 22.68% prices up 4.40%, BHEL FUT up 39.38% prices up 4.59%, LT FUT up 21.78% prices flat and SIEMENS FUT down 12.71% prices up 2.22% last week.

Most of CAPITAL GOODS showing long positions build up. SIEMENS FUT showing short covering.

We expect positive move in coming week.

STOCK FUT TO WATCH NEXT WEEK : HDFC FUT (BULLISH)

Total OI of HDFC FUT up 57.24% prices up 5.03% last week. HDFC (AUG) FUT Intraday high 2454.00, Intraday low 2205.05 last week.

We expect up move in coming week.

Conclusion :-

Last week trade showing shorts build up but NIFTY SPOT failed to move down. I Expect First To Move Up Due To Short Covering.

NIFTY SPOT Resistance@ 4595-4605 levels, Strong Resistance@ 4660-70 levels. Profit booking expected near 4660-70 levels.

On down side, NIFTY SPOT Support@ 4490-4500, Strong Support@ 4440-50 levels.

COPPER : Range 300/312 (Bullish)

Strong Support : 295/290

Trades Above 312, May Test 315/18/21/24

CRUDE : Range 3510/3625

Strong Support : 3440/3420

Trade Above 3625, May Test 3655/3675/3705

Trade Below 3510, May Test 3480/60

SILVER : Range 22850-23350

Above 23340, May Test 23500/23600/23700/23800

Below 22850, May Test 22685/22585/22500

GOLD : Range 14900-15100

Above 15100, 15150/15200/15250 Is Possible

Below 14900, 14850/800 Is Possible