Markets Weekly For 02/11/2009 To 06/11/2009

Wish To Become Our Premium Paid Clients,Please Visit :

www.Sharebazaaronline.blogspot.com

www.Sharebazaaronline.ning.com

http://sites google.com/site/Sharebazaaronline/

http://groups.google.com.group.Sharebazaaronline

Take A Weekly Trial Pack For Just Rs 500,Includes NIFTY, FUTURES, CASH, OPTIONS, COMMODITY, CURRENCY

Or Mail Us To:

Sharebazaaronline@ymail.com
Sharebazaaronline@gmail.com

Join Us For Free

Type " JOIN SHAREBAZAARONL " & Send Sms To 567678
Type " JOIN SHAREBAZAARONL " & Send Sms To 560700

THE WEEK THAT WAS:

The Sensex and Nifty are down 5.3% and 5.5% respectively. From the index pack, Suzlon, DLF, and Unitech are down 21%, 18.5%, and 16.5%, while Tata Motors and Ranbaxy are up 7.5% and 4.5%.

The CNX Midcap Index and BSE Smallcap Index are down 5.7% and 8% respectively. All BSE sectoral indices have ended the week in the red, with the BSE Metals Index seeing the highest decline of 10%.

There seems to be no respite for telecom stocks. They had got a drubbing for the past two weeks on fears that a tariff war could further erode margins. Today, dismal Q2 performance by Bharti and a delay in spectrum allocation seems to have further weighed on sentiment. Reliance Communications, Tata Communications, and Bharti are down 23.5%, 16.5%, and 11% respectively.

OBSERVATION :

1) Total OI of NIFTY FUT up 3.64%, NIFTY FUT down 5.99% last week. OI up despite expiry indicating strong rollover of shorts to new series. NIFTY FUT closed at 4 points discount from 11 points premium compare to NIFTY SPOT.

2) Out of NIFTY 50 STOCK FUTS, 05 STOCK FUTS closed positive, 40 STOCK FUTs closed negative and 05 STOCK FUTs close flat last week.

3) OI of current series NIFTY 4700 CE is up 4856% prices down 61% showing call writing. OI of current series NIFTY 4800 CE is up 2664% prices down 68% and NIFTY 4900 CE is up 1356% prices down 73% last week showing aggressive call writing. OI of NIFTY 4900 CE is 37.46 LK highest OI in CALLs.

4) OI of current series NIFTY 4600 PE is up 321% prices up 162% and NIFTY 4700 PE is up 147% prices up 167% last week showing put buying. OI of NIFTY 4600 PE is 34.53 LK highest OI in PUTs.

5) Total OI of NIFTY NOV series CALLs is up by 1.39 CR to 2.07 CR, NOV series PUTs is up by 92.66 LK to 1.97 CR. NIFTY NOV series PCR (OI) at 0.95. New series started with lower PCR (OI).

NIFTY (4711.7) : Important Supports@ 4590/4610 & Important Resistance@ 4930/4950

Resistance : 4770 / 4860 / 4950 / 5160

Support : 4640 / 4590 / 4455 / 4340

SENSEX (15896.28)

Resistance : 16070 / 16375 / 16680

Support : 15375 / 15150 / 14935

SECTOR WATCH : CAPITAL GOODS (EARLY SIGNS OF WEAKNESS )

ABB FUT : OI up 3.62% prices down 3.93% last week. Key Resistance@ 780/790/800 & Support@ 705/695/685.

BHEL FUT : OI down 10.14% prices down 7.16% last week. Key Resistance@ 2325/2350/2375 & Support@ 2150/2125

LT FUT : OI down 16.87% prices flat last week. Key Resistance@ 1635/1655/1675 & Support@ 1520/1500/1480

SIEMENS FUT : OI down 7.36% prices down 11.39% last week. Key Resistance@ 540/555/570 & Suppot@ 490/475/460

STOCK FUT TO WATCH NEXT WEEK : SAIL FUT ( BEARISH )

OI down 7.60% prices down 10.13% last week. OI down due to expiry. Key Resistance@ 175/180 & Support@ 160/155

BUY

ABAN Around 1175/1225,Sl 1050,Tgt 1375/1400/1425 [CMP : 1274.6]

FSL Around 33/34,Sl 30,Tgt 38/40/42 [CMP : 34.7]

HUL, Sl 275,Tgt 295/305

DRREDDY, Sl 955,Tgt 1100/1125/1150

ASHOKLEYLAND, Sl 42,Tgt 52/54/56

CONCLUSION :

All indications of BEARISHNESS. Strong rollover of shorts and fresh addition in new series. First time in current year, PCR (OI) below 1.00 levels at beginning of new series. Downtrend to continue.

NIFTY SPOT Supports@ 4610-20, 4560-70 levels, below 4550 levels, next TGT will be 4500 levels. NIFTY SPOT need to sustain above 4500 levels for bounce.

High possibility of bounce from below 4500 levels. Any bounce will face strong R above 4700 levels.

Selling will emerge on every rise. Sell on rise is best strategy now for trading.