NEWS

Sensex : (8343.75) Today Sensex face resistance at 8470, if cross 8470 then goes up to 8596 and 8723. Sensex have support at 8314, if 8314 break then fall up to 8188 and 8032.

Nifty : (2617.45) Today Nifty face at 2642 and 2666, if cross 2666 then goes up to 2696 and 2730. Nifty have support at 2575, if 2575 break then fall up to 2550 and 2510.

(Ilango)

Though Nifty managed to stay above the R1.2596 and even scaled R2.2620, it gave away all its gains when it neared the 5 day high ema at 2648 after developing negative divergences in the 5-minute chart. Thus, the day's action was in line with the larger bearish trend. An attempt was made by the bulls but could not keep the momentum. Safe longs above 2630 only.

For tomorrow, trading below 2596 may lead to 2575., below which it may fall rapidly.










MY CHART

Nifty :: Nifty move up sharply with world market but unable to close above 2641..As per our weekly post Dow Jones recover 10% from lower level in this week.. Still 2642 and 2650 works as resistance for up move above 2650 watch next strong resistance near 2700/2754..Watch strong support 2590 as far as stay above 2590 momentum seem up for short term.. Our strategy same as yesterday for 13^th March buy on deep (S.L 2590) Sell at high (S.L 2704).. Resistance for up move at 2642/2650/2664/2700/2704/2754/ 2771/2800..(Be careful at higher level Nifty face too many resistance at higher level up to 2840)… Supports at 2590/2574/and support zone 2555 to 2515..

13 Mar 2009

The decline towards the end of trading session we feel was profit booking in the IT and FMCG sector, this resulted in losing few points on the Sensex. On the sectoral front Auto and Banking sector witnessed a good run as lower inflation has given some headroom for rate cuts. In Oil & Gas Sector, Oil marketing companies gained as crude prices declined. The Advance-Decline ratio was skewed towards the Declines with 1162 Advances and 1262 Declines. Our analysis for the market movement today, we expect them to open on a flat note with some positive bias.

The market is showing some strength and seeing a good pullback rally but still we are not sure that it will remain sustain.

Still Cautious till Nifty trades below 2700 once bounce above 2700 some relief will be seen.

Market respected the EOD Resistance and Closed at 2717 which is exactly the 5EMA Resistance. Now the trend turns from negative to neutral.

Any Close Above 2615/20 Tommorow,then Market Turns In Range Bound Territory Between 2500-2750 for Couple of Days.

But Closing Below 2615/20 will be Bearish.

NIFTY (2617.45)

Support : 2580 / 2540 / 2510 / 2450

Resistance : 2650 / 2685 / 2710 / 2740

SENSEX

Support : 8265 / 8185

Resistance : 8430 / 8515

NIFTY FUT (2601)

Support : 2575 / 2550 / 2525 / 2485

Resistance : 2610 / 2635 / 2655 / 2665

On Friday ,Opening is Flat to Up,

Stay Long Above 2620,Sl Below 2605,Tgt 2640-2655-2670-2685,

Sustain Below 2600,Sell with Sl Above 2615,Tgt 2580-2555-2540-2480

POSITIONAL : Buy NIFTY,Sl 2525,Tgt 2640-80-2720

Buy BHEL Above 1340,Tgt 1360-1380-1420,Sl 1320

Buy HLL Above 225,Tgt 230-240-255,Sl 220

Buy KOTAKBANK Above 230,Tgt 235-240-250,Sl 225

Buy IVRCL INFRA Above 110/15

Buy CIPLA Above 205,Tgt 210/15,Sl 200

Sell BOMDYEING Below 115,Tgt 110-105-90,Sl 120

Sell VSNL Below 415,Tgt 405-395-375,Sl 425

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

Sell SBIN (911)mSl Above 925,Tgt 895/885

FUTURE

Buy DRREDDY @ 395/400,Sl 385,Tgt 405/408/413/416/420/425/430 (Lot Size : 800)

Sell TITAN @700/695,Sl 715,Tgt 690/685/680/675/665/660/650/645/640 (Lot Size : 412)

Astrology18 Group

Market may open up with hugh gap. Market may up between 9.55 and 10.17. Market may steady or between side between 11.27 and 11.47. Market may close at up to previous closing. BSE Sensex may open with 185 points up.



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Opening Bell Call
Buy
RELIANCE - Reliance Industries Ltd
MARUTI - Maruti Suzuki India Limited
POWERGRID - Power Grid Corporation of India Limited
CAIRN - Cairn India Limited
INFOSYSTCH - Infosys Technologies Ltd.
ONGC - Oil & Natural Gas Corpn Ltd

On 12th March 2009 - The BSE Sensex closed at 8,343 (Up 183 points) while the NSE Nifty closed at 2,617 ( up 44 points).

Opening Bell Call
Sell
ABB - ABB Limited
ORCHIDCHEM - Orchid Chemicals & Pharmaceuticals Ltd
SATYAMCOMP - Satyam Computer Services Ltd
GLENMARK - Glenmark Pharmaceuticals Ltd.
M&M - Mahindra & Mahindra Ltd.

Technical Analysis for 13rd March 2009

BSE-SENSEX - Major Resistance - 8352, 8391, 8430, 8474, 8517, 8556, 8595, 8634
BSE-SENSEX - Major Support - 8309, 8265, 8226, 8187, 8144, 8100, 8057, 8013

NSE-NIFTY - Major Resistance - 2612, 2632, 2651, 2668, 2684, 2704, 2723, 2742
NSE-NIFTY - Major Support - 2596, 2579, 2560, 2540, 2524, 2507, 2490, 2473

(STOCKSTAR)

INDEX GAME-
BUY NF ABOVE 2650 SL 2550 TARGET 2730/2777
SELL NF BELOW 2550 SL 2650 TARGET 2450/2350
BUY BANK NF ABOVE 3450 SL 3400 TARGET 3500/3550
SELL BANK NF BELOW 3400 SL 3450 TARGET 3350/3300

STOCKS GAME-
BUY DIVISLAB ABOVE 870 SL 860 TARGET 880/890
BUY FINANTECH ABOVE 465 SL 455 TARGET 475/485
BUY ICICIBANK ABOVE 285 SL 275 TARGET 295/305
BUY HEROHONDA ABOVE 970 SL 950 TARGET 990/1010
BUY PNB ABOVE 315 SL 310 TARGET 320/325
BUY RELIANCE 1220 SL 1200 TARGET 1240/1260
BUY DRREDDY ABOVE 400 SL 390 TARGET 410/420
BUY TATAMOTORS ABOVE 145 SL 140 TARGET 150/155
BUY TORENTPOWER ABOVE 67 SL 65 TARGET 69/71
SELL BEL BELOW 830 SL 850 TARGET 810/790
SELL NTPC BELOW 170 SL 175 TARGET 165/160
SELL RENUKA BELOW 72 SL 75 TARGET 69/66
SELL OFSS BELOW 600 SL 620 TARGET 580/560

(NOORESH)

Sensex Technical View :

Sensex makes a pullback but could not maintain it for the day. The weakness continues to remain with bounce backs in between. Resistances on upside 8500/8630 in near term. Only a move beyond the breakdown line around 9k would mean a change of trend ( shown in charts) . Till then continue to wait for stock specific breakdowns to trade or small bounces from support.

Dow Jones Technical View :

In the last update it was mentioned about a pullback from these zones to a minimum of 6900-7100 and to a higher side range of 7450. As expected Dow has recovered to 7100 zones in a few sessions. The upside may be capped around 7450 in the near term.

Crude did move above 46 and hit a high of 48.5+ close to 49 then again a dip to 42 and now is back to 47. So traders might have got both a momentum and pullback trade. Bullishness remains till it stays above 45-46 the tgt of 49-51 and 54 odd remains a good possibility.

Stocks to watchout for :

Bharti Airtel has given a breakdown on charts. check post below for more.

Cairn might try to possibly breakout of the range of 155-167 in near term. Can be a short term trade for 5-10% if stays above 168 or below 155.

Auto stocks like MnM and Ashok Leyland seem to be shaping up for a small move... Hero Honda and Maruti already strong. Charts posted below.

NTPC is forming a tight range of 169-181. If breaks below 168 could be a good short trade for tgts of 163/155 .

Cipla if stays above 207 can give another 10 bucks tgt of 215-217.

(ss)

One reader wanted to see the Nifty Banks Index but my software doesn't have it so I'm using the BSE Bankex. Above is a daily chart showing the action from October '08 and below is a weekly chart with the 14 period RSI showing multiple divergences over the past many weeks. The index has just started turning up just above the two support lines hinting at a rally. How far this rally can go is doubtful as the all previous rallies got sold into.

(ss)

Here is a look at four probable future winners. BRFL, CLN India, Hindustan Zinc and Marico. Except for BRFL ( the last two charts at the bottom), the rest are going against the market and show a high relative strength. All of them show an increased volume activity and that's a very good sign. These are signs of a probable bottom in these stocks. All of them are trying to break out from their ranges and you just keep them on your radar!