Markets For 08/09/2009

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It was a good day for Indian equity markets as markets started the trading session on positive note and ended the day on a further higher positive note. With positive news from the Markets, Strong opening of Asian markets and some revival of monsoon Sensex managed to close above the 16000 mark. While Sensex closed at 16016.32 (Up 327.20 points) Nifty closed at 4782.90 (Up 102.50 points). On the sectoral front realty, metal and banking index closed with good gains of more than 3 per cent other indices also showed significant gains. Mid Cap and Small Cap indices outperformed the Sensex. Market breadth was positive with 2243 advances and 589 declines.

NIFTY (4782.9)

Resistance : 4820 / 4865 / 4895

Support : 4740 / 4710 / 4680 / 4640

SENSEX (16016)

Resistance : 16135 / 16190 / 16265 / 16345

Support : 15900 / 15855 / 15790 / 15700 / 15625

NIFTY FUT (4796)

Resistance : 4840 / 4865 / 4885 / 4905

Support : 4745 / 4725 / 4695 / 4675 / 4655

MKT COMMENTS

NIFTY FUT OI up 2.52% with 34% decreasing volumes indicating forming of long positions.

4800Pe Saw Addition In OI Of Around 8 Lakhs,While in Ce’s Saw Shedding Of OI

We expect NIFTY FUT to trade positive.

On Tuesday,Opening Is Flat To Positive,

Buy NIFTY Above 4760,Sl Below 4745,Tgt 4810/30/65/90

Sell NIFTY Below 4745,Sl Above 4760,Tgt 4710/4680/40/15

BUY Delivery (Book Profits In These Scripts Near Targets, Since Markets Are At New Tops)

CADILA,Tgt 525/35

BLUEDART,Tgt 565/75/85

GRASIM Above 2705,Sl 2605,Tgt 2805/25+

ICICIBNK Above 785,Sl 715,Tgt 850/60/70

M&M Above 855,Sl 805,Tgt 910

RELCAP Above 920,Sl 870,Tgt 970/80

SBIN Above 1810,Sl 1710,Tgt 1910/25+

BUY

GRASIM Above 2725,Sl 2705,Tgt 2745/55/65++

SBIN (1816),Sl Below 1785,Tgt 1830/40

IVRCLINFRA Above 355,Sl 345,Tgt 365/70/75/80

TATACOMM Above 490,Sl 480,Tgt 505/10

CHAMBAL Above 55,Sl 50,Tgt 59/61/63

SCI above 143,Sl 140,Tgt 145/47/49

RPOWER Above 160,Sl 155,Tgt 165/70/75/80/85

FUTURES

TECHM, Sl 955,Tgt 990/1000/1010

ONGC (1188) : Buy@ 1175,Sl 1160,Tgt 1200/10 (Close Above 1190,Hold Longs As BTST)

ICICIBNK (788.8) : Buy@ 775,Sl 765,Tgt 785/95/805

BHARTI (421.6) : Buy Above 415,Sl 405,Tgt 425/30 (Close Above 425,Hold Longs As BTST)