Axit D ShahHello Friends,

Nifty Yesterday has made a double bottom at 2611 levels & whole day managed to stay above this levels. Some recovery as seen in last hour of trade & managed to close at 2645 spot Nifty levels.

Yesterday U.S & Europe markets showed good recovery from bottom & managed to close up by 2-3%. Yesterday smart recovery was seen in Metal stocks on a/c of news from China about the Stimulas package. Even in London Metal Exchange (LME) smart recovery was seen in this counters. But will all this sustain at higher levels ?

NIFTIEE Intra day Levels :
Close 2645
Supports: 2625/2610/2580
Resistances: 2666/2690/2710

PROVISIONAL FUND FLOW FIGURES IN RUPEES CRORES FOR 04 MARCH 2009 :

Fii -494
Dii +119
Fii(deri) +793 (net)
Idx Fut +614
Idx Opt +148
Stk Fut -47
Stk Opt +78

(Inder Bhatia)

The Indian market opened on flat note and traded in narrow range but close in green zone.For coming session if nifty trade above 2672 it can test 2710-2730 levels .On the lower side 2601-2580 will act as support zone.

(Ilango)

MY CHART

Nifty :: Made double bottom near strong support 2611.. Short term momentum turns up but still mid term momentum down.. For mid term momentum required to break 2800/2970 with volume for up move conformation.. Watch strong resistance 2704/2755..And strong support 2615/2611.. Our strategy for 5^th Mar if Nifty open flat buy on deep (S.L 2611) sell at high (S.L 2755).. If open gap up watch two strong resistances for shorting… Resistance for up move at 2680/2696/2704/2725/2755/2765.. Supports at 2615/2611/2550..

Manoj chopra

Manas

Hi Friends, in the last 2 months of flat and range bound markets, i have learnt a very effective hedging strategy which works wonders and makes good money quiet effortlesly.

i am gonna tell u the secret, however there is 1 condition , that a person using this technique should be good with technicals.

since i dont like to trade in options, also in rangebound markets buying options dont make much money, for hedging, i use Nifty & mini nifty.

for every 100 nifty(2lots) short, i buy 60 mini niftys (3 lots) and vice versa.

for example, i am having positional shorts from 2675 levels, and i am very sure of tgts below 2500.

but during closing today, markets looked like it may give an upmove, also dow futures suggested the same.so for every 100 short i bought 60 mini longs.

this way i am protected in a gap up, and any upmove that comes.this way i can also keep a big and a safe SL for my shorts.ideally nifty wont close above 2690 easily. so my strategy will be to book my longs close to it, and add more shorts there.another scenerio is.. suppose we got a big gap down the next day.....i will anyways be in profits as i have 100 shorts and just 60 longs.

so for 100 points fall, i make 10,000, and loose 6000, so 4k net profit.

now if you notice, i take bigger lot for the primary market direction, and hedge against it.so in case i go wrong, loss will be very small in all scenerios.

also we have the option of booking partial profits whenever u feel like.

by this wht i want traders to understand is that, its just another way of safe trading, as u dont have to worry about the time decay as in options.

u may not make big money by this method, but u will definately be in profits, or small loss if followed properly.

Now for the markets, nifty closed below imp support levels for 2nd day in a row.however may give an upmove due to the news flow.only a close above 2690 fut or 2720 spot will make me book out of shorts.

(NOORESH)

Sensex Technical View :

Sensex continues to remain weak as closes around 8450 yet again. After 3-4 downsessions index may appear a bit oversold but bounces may face resistance at 8750/8950. If it continues to stay below 8500 for few sessions it could well head to 7700 zone also.

Stocks to watchout for :

BOI and BOB remained weak in the day but can give a bounce coz of RBI but difficult to sustain.

Cipla crossed 196 and touched 204 almost closer to 205 1st tgt hold with stop of 190.

BHEL

The stock has sustained well in the last couple of months irrespective of market conditions but we did see some selling today with volumes. Short term support at 1280-1300 if sustains below that level could collapse to 1150-1200 levels. Click on chart above.

Look to short around 1350 stop of 1375 or below 1315 stop of 1350.

Many banking stocks like ICICI, AXIS Bank, Kotak Mahindra,SBI and many other banks are closer to Oct lows and may give a dead cat bounce with the RBI action but prefer to wait for stability in those stocks and avoid buying unless pyramiding with token lot.

Mahindra and Mahindra

In the last few months stock has made multiple tops around the 330 zone. So if crosses could give a good 5-10% jump. So buy above 331 for a pop up tgt oof 345-360.

ss

ONGC (top) and Reliance (center) are still above their January lows and being the heavy weights they will surely challenge the fall in the market in the coming days.

I like stocks which buck the trend and go the other way.Rebel against the whole world! Power Grid (below) is in a fantastic uptrending channel and can give many opportunities in long or short trades. The strategy of buying at the lower channel support and selling at the top is a bit difficult to put in practice because basically it involves going against the trend - you are buying a stock which is falling and selling it when it is rising - but it comes with practice.

(SVShah)

RBI cuts Repo,Reverse Repo by 50 bps each

The Reserve Bank of India has announced the long awaited rate cut. It has reduced the repo rate by 50 basis points to 5% and cut the reverse repo rate by 50 basis points to 3.5% with immediate effect. Bankers and industry leaders have cheered the rate cut, but most feel the move should have come earlier. They feel the cut in reverse repo rate will force banks to lend more to industry which is badly in need of funds.

NIFTY (2645.2)

Resistance : 2660 / 2690 / 2745

Support : 2620 / 2605 / 2590 / 2530

SENSEX

Resistance : 8510 / 8570

Support : 8375 / 8310

NIFTY FUT (2630)

Resistance : 2655 / 2675 / 2690 / 2710 / 2750

Support : 2615 / 2595 / 2680 / 2565

MKT COMMENTS

NIFTY FUT OI down 5.62% with 4% decreasing volumes indicating short covering.

We expect NIFTY FUT to bounce from lower levels with volatility.

On Thursday,Opening is Flat to Up,

Stay Short Below 2625 ,Sl Above 2640,Tgt 2605-2600-2575-2555,

Sustain Above 2645,Buy with Sl Below 2630,Tgt 2665-2680-2725

Positional Risky Traders (Positional)

Buy NIFTY Abv 2640,Sl Blw 2580(On Closing Basis),Tgt 2665/80/90/2700/2715/2725

Buy NIFTY 2700 Call,Sl 25,Tgt 100/10/25++

Buy RELCAP 320/25,Tgt 330/35/40,Sl 315

Buy AUROBINDO PHARMA Above 165,Tgt 170/75,Sl 160

Buy TATASTEEL Above 155,Tgt 160/65/70,Sl 150

Buy ACC Above 540,Tgt 555-570-595,Sl 525

Buy BAJAJAUTO Above 490,Tgt 500-510-525,Sl 485

Buy BHARTI Above 600,Tgt 610-620-640,Sl 590

Buy STER Above 245,Tgt 255-260-275,Sl 240

Sell TATASTEEL Below 155,Tgt 150-145-140,Sl 160

Sell M&M Below 315,Tgt 310-300-295,Sl 320

BHARTIAIRTEL looking more downtrend advised to away from this stock.

We maintain Selling by making Stoploss 615,Target 580/565

KOTAKBANK : Kotak Bank trend is Negative we can see more downtrend advisable to Sell on cmp or on rally Stoploss Above 240,Target 230/20/10++

Positive Stocks:-

IVRCL INFRA Above 110-15;TECHM Above 250

Auto Stocks HEROHONDA & MARUTI also show positive trend and more rallies shown in both stocks

FUTURES

STERLITE (245.8) : Buy 240/245,Sl 235,Tgt 250/55+

REL (457.6) : Buy @ 450/53,Sl 445,Tgt 465/75+

CIPLA (202.5) : Buy @ 195/200,Sl 190,Tgt 205/10/15+

Buy CENTURY TEXT@ 178/80,Tgt 182/183.2/185.3/187.1/189/191/193,Sl 170 (Lot Size : 1696)

Sell HDFC @1170/65,Tgt 1160/55/45/35/25/15/05/1090/1075,Sl 1180 (Lot Size : 150)

Buy RELIANCEIND on Every Deep,Tgt 1350/1400/80++
Sell RPL On Every Rise,Tgt 60 (STRATEGY FOR FUTURE TRADERS)

Technical Levels for 05 March 2009
Symbol	RES 1	RES 2	RES 3	Pivot	Support 1	Support 2	Support 3	Trading Signal
GOLD	15249.33	15414.67	15544.33	15119.67	14954.33	14824.67	14659.33	Sell Signal
LEAD	59.30	60.10	61.70	57.70	56.90	55.30	54.50	Buy Signal
SILVER	22285.00	22553.00	22827.00	22011.00	21743.00	21469.00	21201.00	Buy Signal
COPPER	194.05	197.20	202.70	188.55	185.40	179.90	176.75	Buy Signal
NICKEL	519.33	523.87	531.53	511.67	507.13	499.47	494.93	Buy Signal
CRUDEOIL	2346.00	2397.00	2497.00	2246.00	2195.00	2095.00	2044.00	Buy Signal
ZINC	62.62	63.73	65.77	60.58	59.47	57.43	56.32	Buy Signal

World Markets - Astrologically

Crude Oil / Gold / Silver

Crude Oil likely to remain positive this week particularly on 2nd and 04th but on both days profit booking will trim early gains. Overall after 05th March there will be corrective decline in crude till 11th March. Both Gold and Silver despite occasional rallies and recoveries likely to lose much of the gains till 25th March. Long positions in general may be avoided for 1 month however Intraday rise on 04th/ 05th as well as early 02nd in not ruled out.

US Dollar/ Indian Rupee ( USDINR)
Astrologically, Indian Rupee may weaken further on 02nd and 04th March despite the fact that corrective declines expected till 06th March but after 06th March, US Dollar may again turn stronger against Indian Rupee till 10th or 11th.

US Markets

Astrologically, Both Nasdaq and Dow Jones are indicating a Volatile week, while some positive movement is expected on 04th / 05th March but again weakness is indicated 06th March. No Significant move is indicated on either side.

raman)

BUY State Bank of India Stop Loss 965 Target 1075

BUY Reliance Capital Stop Loss 313 Target 355

BUY Axis Bank Stop Loss 318 Target 351

BUY IFCI Stop Loss 16.50 Target 19