Markets For 15/12/2009

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It was a lackluster Monday for our market that closed flat for the day. The market saw profit booking in late trade despite positive global cues. The market breadth was negative with advances at 428 against declines of 837.Market has almost made a triple top near 5182 range and not decisively sustaining above this mark,and looks that this level will be not taken out so easily and it can hurt market in the day to come if we are going to break Lower side supports of 5065-45 and a sustained break below this mark will create another panic in the market. and if again we crossed 5183 decisively and hold above it then market can scale new high,say 5255-5300 in this month.Around 5182 there should be caution,and for very immediate time frame 5115 is resistance.

After a sharp gap up opening market closed in the red despite positive global cures.In fact the Sensex continue to move up and touched an intraday high of 17275 points and sustained this level for a considerable amount of time. However, in the second half the Sensex wasnt able to sustain its gain and slipped and touched a low of 17048 level. Thus after a steady start the market indeed became more volatile towards the end of the day.

The market saw profit booking in late trade despite positive global cues. Nifty has stiff resistance at 5150-5180 and once these are crossed it will rally up swiftly. There is sector rotation too and today cement stocks were on the rise. This clearly shows that the Sensex isn’t yet feeling the comfort level above the 17200 levels and that crucial if the Sensex has to move up and beyond that. Volatility to continue in the coming days.

NIFTY (5015.7)

Resistance : 5145 / 5185

Support : 5080 / 5050 / 5020 / 4970

SENSEX (17097.55)

Resistance : 17235/17370 / 17465

Support : 17005/16910

NIFTY FUT (5107.4)

Resistance : 5150 / 5195

Support : 5070 / 5025 / 4960

MKT COMMENTS

NIFTY FUT OI flat with 7% decreasing volumes indicating unwinding at higher levels.

We expect NIFTY FUT to trade negative with volatility.

On Tuesday,Opening Is Flat To Down,

Buy NIFTY Above 5125,Sl Below 5110,Tgt 5150/5175/5195/5220

Sell NIFTY Below 5110,Sl Above 5125,Tgt 5085/5060/5040/5015

Heavy Risky Traders

Buy NIFTY@ 5080/90,Sl 5060,Tgt 5120/5140/5180 (If NIFTY Closes Above 5150,Take Overnight Positions In NIFTY)

BUY

MARUTI Above 1610,Sl 1600,Tgt 1620/30/40/50

BIRLACORP Above 325,Sl 320,Tgt 330/35/40

LNT Above 1705,Sl 1695,Tgt 1715/25/35+

SIEMENS Above 565,Sl 560,Tgt 570/75

WIPRO Above 655,Sl 650,Tgt 665/70/75+

PUNJ Above 200,Sl 195,Tgt 210/15/20

TULIPIT Above 900,Sl 860,Tgt 990/1010

ACC Above 855,Sl 840,Tgt 875/85+

SELL

GAIL Below 420,Sl 425,Tgt 415/10/05

MRPL Below 77,Sl 79,Tgt 75/74/73

ROLTA Below 185,Sl 190,Tgt 180/75

SBIN (2247),Sl Above 2260,Tgt 2230/20

FUTURES

TISCO (544.65) : Buy Around 540,Sl 535,Tgt 545/50

RIL (1066) : Buy Around 1060,Sl 1045,Tgt 1075/80/85/90

STERLITE (837.25) : Sell Around 845/50,Sl 855,Tgt 835/30/25