Markets For 01/12/2009

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It was a good day of trade for our market on this first day of the week which was buoyed by spectacular GDP growth figures. Dubai jitters were being felt in the European markets as evident from weakness on their indices but Asian markets closed with good gains. Our Sensex shut shop at 16926, up 294 points and Nifty at 5032, up 90 points from the previous close. CNX Midcap index was up 1.6% and BSE Small cap index was up 2.1%. The market breadth was positive with advances at 1055 against declines of 212 on the NSE. Top Nifty gainers included Tata Steel, Bharti Airtel and Tata Motors while losers included Hero Honda, PNB and Maruti Suzuki.

The Indian market closed on a good note after a calm and steady day of trade. It opened gap up but showed a tremendous rally as soon as the GDP growth figures came in at a strong 7.9%.Market was looking a trigger to correct and dubai crisis given it a reason to correct and taste its major support level of 4800 and from that level we seen decent rally that continued today also and nifty closed closed above its major major immediate resistance of 5000-5025 range.Market is still not out of woods but low made on Friday is very crucial for the time being and as long as market holds current rally may be continue to hold the upside momentum and it will try to kiss its high made recently which is 5115-5135 in the higher side.Still good immediate supports are comes near 5020-4995.

NIFTY (5032.7)

Resistance : 5085 / 5140

Support : 4960 / 4885

SENSEX (16926.22)

Resistance : 17085 / 17240 / 17370

Support : 16825 / 16715 / 16490

NIFTY FUT (5029.9)

Resistance : 5075 / 5115/ 5150

Support : 4995 / 4945 / 4910

MKT COMMENTS

NIFTY FUT OI down 3.11% with 31% decreasing volumes indicating unwinding of long positions.

We expect NIFTY FUT to trade rangebound with volatility.

On Tuesday,Opening Is Flat To Positive,

Buy NIFTY Above 5030/5040,Sl Below 5015,Tgt 5080/5120/5140

Sell NIFTY Below 5000/4990,Sl Above 5015,Tgt 4950/4910/4890

BUY

SESAGOA Above 365,Sl 360,Tgt 370/75/80

MASTEK Above 365,Sl 350,Tgt 380/90/400+

BEL, Sl 1750,Tgt 1900/25/40/50

BOB Above 535,Sl 525,Tgt 550/560+

SAIL Above 200,Sl 195,Tgt 205/10

RANBAXY Above 455,Sl 450,Tgt 460/65/70+

HINDALCO Above 138,Sl 135,Tgt 141/44/47

SELL

BHEL Below 2240,Sl 2250,Tgt 2230/220/210+

GAIL Below 420,Sl 425,Tgt 415/10

RELIANCE Below 1065,Sl 1075,Tgt 1055/45/35

SBIN (2240),Sl Above 2260,Tgt 2220/10/05+

Markets For 27/11/2009

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Weak global cues and F&O expiry saw a selloff today and the market ended weak. But it clocked huge volumes, the second highest market turnover and highest ever F&O turnover at Rs 1.59 lakh crore. Sensex shut shop at 16854, down 344 points and Nifty at 5005, down 102 points from the previous close. CNX Midcap index was down 1.21% and BSE Smallcap index was down 0.98%. The market breadth was negative with advances at 320 against declines of 957 on the NSE. Top Nifty gainers included Ranbaxy, Sun Pharma while losers were Tata Power, RIL, ICICI Bank and Reliance Capital.

The market did open flat to positive let by global cues and seen a profit booking session again from higher side,with nifty failed to cross its major hurdle of week of 5110-20 range as advised by me many times and as expected we seen a decent selling and profit booking at the last day of the F and O settlement with a highest volume.Market is seems to be toped out for the very short term and it looks like that the worst is not yet done and another selling is expected as long as we maintain below 5030-5050 range on close to close basis.Still A caution is highly advised now on every rise as I expected a selling or profit booking now any time,A close on Friday below 4985-75 will lead another selling pressure for at least 100-250 points downfall. Overall strength is negative in the market now.

NIFTY (5005.55)

Resistance : 5035 / 5085 / 5125 / 5165

Support : 4955 / 4935 / 4880 / 4840

SENSEX (16854.93)

Resistance : 16915 / 17040 / 17170

Support : 16785 / 16660 / 16520 / 16460

NIFTY FUT (4992.65)

Resistance : 5025 / 5070 / 5120 / 5160

Support : 4965 / 4935 / 4885 / 4845

4915/25 Will Act As A Big Support,If Next Support@ 4880/70.

If NIFTY Closes Below 4880/70,We Are In Bearish Zone & Can Touch 4600/4500/4400++

If NIFTY Bounces Back From 4915/25,Near Term Targets Can Be 5150/5250/5350++

MKT COMMENTS

NIFTY FUT OI up 13.95% with 132% increasing volumes indicating forming of short positions.

We expect NIFTY FUT to trade negative with volatility.

On Friday,Opening Is Flat To Down,

Buy NIFTY Above 5045,Sl Below 5025,Tgt 5075/5095/5120/5150

Sell NIFTY Below 5020,Sl Above 5040,Tgt 4990/4970/4945/4915

BUY

RANBAXY Above 430,Sl 420,Tgt 440/450

INDIACEM Above 110,Sl 105,Tgt 115/120

IFCI,Sl 47,Tgt 54/55/56

APTECH Above 168,Sl 165,Tgt 171/173/175

ZEE Above 270,Sl 265,Tgt 275/280/285

COLGATE Above 690,Sl 685,Tgt 695/700/705/710

SELL

SAIL Below 192,Sl 195,Tgt 188/185/183/180

SCI Below 145,Sl 150,Tgt 140/135

PUNJLOYD Below 385,Sl 390,Tgt 375/370/365

SBIN (2255),Sl Above 2275,Tgt 2225/2215

PUNJLOYD Below 205,Sl 210,Tgt 200/195

Markets For 26/11/2009

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It was a mildly choppy but relatively quiet day of trade as market closed in the positive despite some profit booking. Sensex shut shop at 17198, up 67 points and Nifty at 5108, up 17 points from the previous close. CNX Midcap index was up 0.01% and BSE Smallcap index was down 0.16%. The market breadth was negative with advances at 546 against declines of 714 on the NSE. Top Nifty gainers included BPCL, GAIL and Hero Honda while losers were DLF, Suzlon and Unitech.

The market did open flat to positive let by global cues and seen a profit booking session again from higher side,with nifty taken support from its 5 DEMA almost placed near 5078 and ended with a marginal gain with nifty closed above its psychological 5100 level and also below 5110 which is its weekly resistance.Nifty is having a good resistance zone area near 5110-20 range and as long as it holds below this level there will be a pressure.Any sell off or profit booking if comes due to global sell off if any then nifty will crash to kiss its 20 DEMA level which is its good support level and placed around 4995,and from this level we can see another round of buying. A caution is highly advised now on every rise as I expected a selling or profit booking now any time,I don’t know the reason but anytime selling will be there,as per charts

NIFTY (5108.15)

Resistance : 5140 / 5165 / 5190

Support : 5080 / 5045 / 5000

SENSEX (17198.95)

Resistance : 17285 / 17370 / 17410

Support : 17115 / 17040

NIFTY FUT (5120.6) : For NIFTY 5070-80 Is The Key Support, If Broken With Huge Volumes Can Create A Panic

Resistance : 5145 / 5170 / 5195

Support : 5075 / 5050 / 4980

MKT COMMENTS

NIFTY FUT OI (both series) up with decreasing volumes indicating forming of long positions.

We expect NIFTY FUT to trade volatile due to expiry.

On Thursday,Opening Is Flat To Positive,

Buy NIFTY Above 5110,Sl Below 5085,Tgt 5135/5160/5195

Sell NIFTY Below 5080,Sl Above 5105,Tgt 5065/5040/5005

BUY

SBIN (2322),Sl Below 2310,Tgt 2335/45+

TATAPOWER Above 1355,Sl 1335

BIRLACORP Above 315,Sl 310,Tgt 320/25/30

GESHIPP Above 290,Sl 285,Tgt 295/300

APTECH Above 170,Sl 165,Tgt 175/80

BHARTI Above 280,Sl 275,Tgt 285/90+

POLARIS Above 170,Sl 165,Tgt 175/80

SELL

TATASTEEL Below 565,Sl 570,Tgt 560/55/50/45

ZEETELE Below 265,Sl 270,Tgt 260/55

RANBAXY Below 425,Sl 430,Tgt 420/15/10

Markets On 24/11/2009

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It was a fantastic day for our market that built on its gains and closed higher also thanks to positive global cues. Sensex shut shop at 17180, up 158 points and Nifty at 5103, up 51 points from the previous close. CNX Midcap index was up 0.44% and BSE Smallcap index was up 0.84%. BSE oil and gas index was up nearly 3% (RIL helped this index and it traded higher on news of acquiring Dutch company Lyondellbasell). The market breadth was positive with advances at 729 against declines of 541 on the NSE. Top Nifty gainers included HCL Technologies, GAIL and Cipla while losers were Bharti Airtel, Idea Cellular and JP Associates.

The market did open flat to positive and seen a buying session,with nifty taken support from its 5 DEMA placed near 5052 and ended with a decent gain with nifty closed above psychological 5100 level but below 5110 which is its weekly resistance. Nifty has broken the upward trendline and seems that remain above today low we might see further rise in the market that can show again 5150-5175 zone in the higher side.Any sell off or profit booking if comes due to global sell off if any then nifty will crash to kiss its 20 DEMA level which is its good support level and placed around 4970,and from this level we can see another round of buying. A caution is highly advised now on every rise as I expected a selling or profit booking now any time,I don’t know the reason but anytime selling will be there,as per charts

NIFTY (5103.55)

Resistance : 5130 / 5175 / 5210

Support : 5060 / 4985

SENSEX (17180.18)

Resistance : 17250 / 17315 / 17420

Support : 17075 / 16970 / 16800

NIFTY FUT (5108.3)

Resistance : 5125 / 5160 / 5215

Support : 5075 / 5040

MKT COMMENTS

NIFTY FUT OI (both series) marginal up with decreasing volumes indicating forming of long positions.

We expect NIFTY FUT to trade rangebound. Above 5150 levels, NIFTY to show fresh up move.

On Tuesday,Opening Is Flat To Positive,

Buy NIFTY Above 5095,Sl Below 5080,Tgt 5125/5145/5170/5210

Sell NIFTY Below 5080,Sl Above 5095,Tgt 5050/5030/5005/4965

BUY

TULIP,Sl 900,Tgt 1000/1025/1040+

PUNJLLOYD Above 215,Sl 210,Tgt 220/225

BEL Above 1660,Sl 1640,Tgt 1690/1710

TATAELEXSI Above 175,Sl 170,Tgt 180/85

ZEETELE Above 260,Sl 255,Tgt 265/70+

MASTEK Abv 320,Sl 315,Tgt 325/35/45+

SELL

SBIN (2320),Sl Above 2335,Tgt 2310/2300

BANKINDIA Below 390,Sl 395,Tgt 385/80

HINDALCO Below 135,Sl 140,Tgt 130/125

RELCAP Below 880,Sl 895,Tgt 870/60/50

Markets For 20/11/2009

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The market did open flat to negative with seen a negative session,with a selling pressure since morning and ended with a deep loss.Nifty could not hold the support level of 5040 as written few days back by me and once broken this level we seen decent selling pressure in the market that dragged nifty to kiss its support level of 4963 and a short recovery helped market to close above this level but closed below its support level of 5040.Nifty will try to find out a support near 4960 and then 4935 zone and if its unable to get a support then this selling will be continue till 4860 and from this level a respite rally is expected that can help market to see again the level of 4965-5030.but as of now nifty is below its major support level of 5030,so the trend will be downtrend on every rise until 5030 is taken out.

NIFTY (4989)

Resistance : 5030 / 5095

Support : 4945 / 4925 / 4860

SENSEX (16786)

Resistance : 16955 / 17130

Support : 16665 / 16540

NIFTY FUT (4987)

Resistance : 5040 / 5090

Support : 4955 / 4915 / 4850

MKT COMMENTS

NIFTY FUT OI down 14.63% with 28% increasing volumes indicating unwinding in current series plus forming of fresh shorts in next series.

We expect NIFTY FUT to trade negative with volatility.

On Friday,Opening Is Flat To Down,

Buy NIFTY Above 5025,Sl Below 5005,Tgt 5050/5075/5090

Sell NIFTY Below 5000,Sl Above 5020,Tgt 4975/4950/4935

BUY

GAIL Above 290,SL 285,Tgt 300/310

PTC Above 105,Sl 100,Tgt 115/120/125

HUL Above 275,Sl 270,Tgt 280/285

BALAJITELE Above 50,Sl 45,Tgt 55/60/65

Sell

PUNJLOYD Below 210,Sl 215,Tgt 205/200

ITC Below 255,Sl 260Tgt 250/45

SBIN (2281),Sl Above 2100,Tgt 2265/2250

Buy RENUKA Fut,Sl 205,Tgt 250/60