Markets Weekly For 07/09/2009 To 11/09/2009

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WEEKLY MARKET OUTLOOK

The market did open flat to positive and It was a positive closing for the Indian market on the last day of this week. which saw decent short recovery form the lower side from our given support of 4580.and once nifty crossed its major hurdle of 4625-50 there was all round rally seen,specially in midcaps.Market is seems to be in bulls hand as long as we are not going to hold and break below 4580-45 in the downside for very immediate time frame and then we can see 4440-20 which is very good support zone now in the nifty and looks unlikely to breach unless there is any bad news from global markets as of now.An hold and crossover above 4740-55 will be a good sign for the market to rise for more than 200 points in no time due to fresh buying that can emerge in the market above this level.Dip if any comes should be utilized to stay long with a stoploss placed below 4540.

NIFTY (4680.4)

Resistance : 4750 / 4795 / 4840 / 4905 / 4960

Support : 4620 / 4585 / 4510 / 4445 / 4405

SENSEX (15689)

Resistance : 16055 / 16205 / 16510 / 16800

Support : 15495 / 15300 / 15140 / 14925

NIFTY Strong Resistance @ 4770/4820

NIFTY Strong Support @ 4595/4545

SENSEX Strong Supports@ 15300/15100

Since (7^th )Monday Being Holiday, Asian Markets May See A Good Rally. Even On (8^th ) The Rally May Continue.

Exit Long Positions Around Wednesday (9^th ) Or Around 4770/4820 Levels.

WEEKLY NIFTY FUTURE OBSERVATION

Observation:-

1) Total OI of NIFTY FUT up 15.44%, NIFTY SEP FUT closed flat. NIFTY FUT premium increased to 15 points from 5 points compare to NIFTY SPOT last week.

2) Out of NIFTY 50 Stock FUTS, 11 Stock FUTS closed positive, 23 Stock FUTs closed negative and 16 Stock FUTs close flat last week.

3) OI of current series NIFTY 4600 CE is up 128.99% prices down 22.38%, NIFTY 4700 CE is up 60.25% prices down 27.47% and NIFTY 4800 CE is up 53.27% prices down 33.55% last week showing call writing. OI of NIFTY 4800 CE is 36.19 LK highest OI in CALLs.

4) OI of current series NIFTY 4400 PE is up 36.73% prices down 24.04% and NIFTY 4500 PE is up by 20.91% prices down 17.33% showing put writing. OI of NIFTY 4600 PE is up 56.74% prices down 10.89% and NIFTY 4700 PE is up by 67.18% prices down 5.79%, last week showing put buying. OI of NIFTY 4600 PE is 45.93 LK highest OI in PUTs.

5) Total OI of SEP series CALLs is up by 48.73 LK to 2.11 CR, SEP series PUTs is up by 66.54 LK to 3.02 CR. NIFTY SEP series PCR (OI) at 1.43 down by 2 points.

6) Huge Call Writing Seen@ 4800 & 5000, Huge Put Writing Seen @ 4600 & 4400 Levels

Total OI of NIFTY FUT (all series) at 2.84 CR lower than NIFTY SEP (single series) PUTs at 3.02 CR.

RUMOURS :

GOLDMANSACHS : Active Buyer In ICICIBANK & SBI

MORGANSTANLEY : Active Buyer In TATASTEEL & STERLITEIND

CLSA : Active Buyer In M&M & RELINFRA

JPMORGAN : Active Buyer In LNT & BHEL

LIC : Active Buyer In AXISBANK

SECTOR WATCH : CAPITAL GOODS ( BULLISH )

Total OI of ABB FUT up 4.34% prices flat, BHEL FUT up 20.76% prices down 4.63%, LT FUT up 4.82% prices down 2.96% and SIEMENS FUT up 32.34% prices flat last week.

We expect positive move in coming week. ABB FUT and SIEMENS FUT top picks.

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

Total OI of ADLABSFILM FUT up 57.49% prices up 5.61% last week. ADLABSFILM (SEP) FUT Intraday high 362.75, Intraday low 327.2 last week. Above 363 levels,

STOCK FUT to show strong up move in coming week.

BUY (Investment Deliveries)

USHERAGRO@ 35/40,Sl 30,Tgt 55/65/70+

CRANESSOFTWARE@ 30/35,Sl 25,Tgt 45/55/60+

COUNTRYCLUB@ 20,Sl 10,Tgt 30/35+

PRAJAYENG@ 30/35,Sl 25,Tgt 50/55/60+

IBSEC Above 50,Sl 45,Tgt 60/65+

WELSPUNGUJ Around 225/50,Sl 200,Tgt 275/300/325/350

GTLINFRA@ 38,Sl 30,Tgt 45/50+

RELCAP, Sl 870,Tgt 925/50/80

IDFC, Sl 130,Tgt 140/45/50

HIINDZINC, Sl 750,Tgt 830/50/80

Hot Counters : IVRCLINFRA / SUZLON / KALINDEERAIL / BARTRONICS / YESBANK / GMRINFRA

Keep Your Eyes On :

REFEX REFRIERANTS : Refex Refrigerants Ltd is venturing into renewable energy (Solar and Wind Power) and is a Carbon Credit candidate.

ENNORE COKE : Ennore Coke has a met-coke, mining, Power and Carbon Credit stories for the investors/traders.
XLTELE : The Mega-project of XL Telecom is about to complete and the Europe coming out of recession is a very positive news for the company.

RITESH PROPERTIES : Interesting Story Buliding

SEL MANUFACTURING : A Textile company of class and favourite of the Punters.

Conclusion :-

Last weeks trade showing short positions build up in NIFTY FUT but NIFTY SPOT closed only 52 points down. I expect any up move should attract heavy short covering.

NIFTY SPOT strong Resistance zone 4740-50 levels, above 4760 levels, Next TGT will be 4830-40, 4880-90, 4950-60 levels. Profit booking expected near these levels.

NIFTY SPOT Supports 4620-4580 & 4510-4500 levels.

Some index heavy weights to show up move but MIDCAPS and SMALLCAPS showing signs of profit booking in coming sessions.