Markets Weekly For 09/11/2009 To 13/11/2009

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OBSERVATION :

1) Total OI of NIFTY FUT up 1.54%, NIFTY NOV FUT up 1.75% last week. NIFTY FUT closed at 6 points discount. Discount increased by 2 points compare to NIFTY SPOT last week.

2) Out of NIFTY 50 STOCK FUTS, 29 STOCK FUTS closed positive, 11 STOCK FUTs closed negative and 10 STOCK FUTs close flat last week.

3) OI of current series NIFTY 4600 CE is up 167.60% prices up 23.57% and NIFTY 4700 CE is up 108.51% prices up 23.88% last week showing buying. OI of current series NIFTY 4800 CE is up 15.22% prices up 25.81% last week showing short covering plus buying. OI of NIFTY 4900 CE is 41.26 LK highest OI in CALLs.

4) OI of current series NIFTY 4500 PE is up 84.32% prices down 38.60% and NIFTY 4600 PE is up 70.53% prices down 37.19% last week showing aggressive put writing. OI of current series 4700 PE is up 54.50% prices down 35.82% last week showing put writing. OI of NIFTY 4600 PE is 58.89 LK highest OI in PUTs.

5) Total OI of NIFTY NOV series CALLs is up by 38.51 LK to 2.46 CR, NOV series PUTs is up by 95.76 LK to 2.93 CR. NIFTY NOV series PCR (OI) at 1.19 up by 0.24 points last week.

NIFTY (4796.15)

Resistance : 4870 / 4920 / 5035 / 5105

Support : 4710 / 4615 / 4540 / 4425 / 4340

SENSEX (16158.28)

Resistance : 16595 / 16875 / 17150

Support : 15725 / 15095 / 14690

SECTOR WATCH : CEMENT (SHOWING SIGNS OF WEAKNESS)

ACC FUT : OI up 2.99% prices down 4.22% last week. Shorts build up. Positive only above 763.

AMBUJACEM FUT : OI up 4.17% prices down 5.93% last week. Shorts build up. Positive only above 89.

GRASIM FUT : OI down 11.22% prices flat last week. Unwinding. More weakness below 2130.

INDIACEM FUT : OI flat, prices down 6.31% last week. Still shorts. Positive only above 110 levels.

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

OI up 28.47% prices down 5.26% last week. Shorts build up. More weakness below 1260 levels.

BUY

FINTECH ,Tgt 1400/1450/1500/1525,Sl 1245

BANKINDIA, Tgt 395/410/430+,Sl 330

INDIANHOTEL, Tgt 88/90/93/95,Sl 75

CONCLUSION :

We are at crucial stage where violent moves ahead. Last weeks trade indicating speculative longs build up at lower levels. For BREAKOUT, NIFTY SPOT need to sustain above 4850 levels for TGTs 4870-80, 4910-20. Above 4930 levels next TGT will be 4970-80 levels.

For BREAKDOWN, NIFTY SPOT need to trade below 4750 levels for TGTs 4670-80, 4610-20, below 4600 levels, next TGT will be 4530-40 levels.

NIFTY SPOT will trade very volatile between 4750-4850 till directional move.