Markets Weekly For 10/08/2009 To 14/08/2009

WEEKLY MARKET OUTLOOK

NIFTY (4481.4)

Resistance : 4540 / 4590 / 4605 / 4645 / 4735 / 4825

Support : 4420 / 4385 / 4340/ 4305 / 4275 / 4220

SENSEX (15160.24)

Resistance : 15315 / 15575 / 16255

Support : 14890 / 14330 / 13085

WEEKLY NIFTY FUTURE OBSERVATION

Observation:-

1) Total OI of NIFTY FUT flat, NIFTY AUG FUT closed down 3.35% last week.

2) Out of NIFTY 50 Stock FUTS, 08 Stock FUTS closed positive, 38 Stock FUTs closed negative and 04 Stock FUTs close flat last week.

3) OI of current series NIFTY 4600 CE is up 75।88% prices down 48।12%, NIFTY 4700 CE is up 28.26% prices down 53.40%, NIFTY 4800 CE is up 77.43% prices down 56.40% and NIFTY 4900 CE is up 127.39% prices down 60.82% last week showing call writing. OI of NIFTY 4700 CE is 40.76 LK highest OI in CALLs.

4) OI of current series NIFTY 4300 PE is up 68.12% prices up 32.15%, NIFTY 4400 PE is up 34.85% prices up 37.83%, NIFTY 4500 PE is up 30.78% prices up 41.32% and NIFTY 4600 PE is up 63.73% prices up 40.94% last week showing put buying. OI of NIFTY 4500 PE is 28.61 LK highest OI in PUTs.

5) Total OI of AUG series CALLs is up by 77।29 LK to 2।15 CR, AUG series PUTs is up by 53.99 LK to 2.10 CR. NIFTY AUG series PCR (OI) at 0.98, lowest levels in current series.

Sector Watch : Oil Marketing Companies (Bullish)

Total OI of BPCL FUT up 92.67% prices up 10.21%, HINDPETRO FUT up 6.21% prices up 29.59% and IOC FUT up 80.72%prices up 1.51% last week.

Long positions build up seen in OMCs counter.

We expect positive move in coming few sessions.

Stock Fut To Watch Next Week : UCOBANK FUT (Bullish)

Total OI of UCOBANK FUT up 81.82% prices up 3.48% last week. UCOBANK (AUG) FUT Intraday high 47.60, Intraday low 42.75 last week.

We expect up move in coming week.

Conclusion :-

I expect NIFTY SPOT will trade volatile next week. Down move to continue for 4400-4410, 4370-80 levels.

NIFTY SPOT 4380-4340 Strong Support zone. Bounce expected from these levels.

On up side, NIFTY SPOT will move up to 4550-60, 4590-4600 levels.

Above 4610 levels, next TGT will be 4640-50 levels.

BUY DELIVERY

KALYANI STEEL(500235) Around 100/105,Sl 90,Tgt 130/40/50

BF UTILITIES(532430) Around 770/80,Sl 740,Tgt 825/75/925/975++

AUTOMATIVE AXLES (505010) Around 190/200,Sl 175,Tgt 250/300

UNITECH Above 85,Sl 80,Tgt 105/10/15/20+

SUZLON Above 85,Sl 80,Tgt 95/100/105+

ICICIBNK,Tgt 800/10/20