RELIANCE : (1735.75)
Buy Above 1740 target 1-1768, target 2-1800, target 3-1898, stop loss 1730
Sell Below 1730 target 1-1704, target 2-1673, target 3-1623, stop loss 1740
REL CAPITAL : (468.05)
Buy Above 470 target 1-483, target 2-497, stop loss 460
Sell Below 460 target 1-450, target 2-433, target 3-412, stop loss 470
REL INFRA : (655.10)
Buy Above 655 target 1-678, target 2-688, target 3-702, stop loss 644
Sell Below 644 target 1-629, target 2-620, target 3-590, stop loss 655
ABAN : (437.50)
Buy Above 445 target 1-459, target 2-480, stop loss 437
Sell Below 437 target 1-423, target 2-409, stop loss 445
BEML : (451.65)
Buy Above 457 target 1-471, target 2-488, stop loss 450
Sell Below 450 target 1-438, target 2-424, stop loss 457
BHEL : (1498.65)
Buy Above 1510 target 1-1537, target 2-1575, target 3-1635, stop loss 1489
Sell Below 1489 target 1-1471, target 2-1462, target 3-1444, stop loss 1510
DLF : (222.65)
Buy Above 220 target 1-228, target 2-235, target 3-250, stop loss 212
Sell Below 212 target 1-204, target 2-189, stop loss 220
EDUCOMP : (2174.05)
Buy Above 2200 target 1-2275, stop loss 2169
Sell Below 2169 target 1-2074, target 2-1999, stop loss 2200
ICICI BANK : (397.80)
Buy Above 392 target 1-410, target 2-421, target 3-434, stop loss 387
Sell Below 387 target 1-378, target 2-360, stop loss 392
AXIS BANK : (445.60)
Buy Above 450 target 1-465, target 2-471, stop loss 444
Sell Below 444 target 1-428, target 2-416, stop loss 450
MCDOWELL-N : (706.55)
Buy Above 707 target 1-728, target 2-748, stop loss 700
Sell Below 700 target 1-683, target 2-659, stop loss 707
SBI : (1140.30)
Buy Above 1142 target 1-1164, target 2-1206, stop loss 1125
Sell Below 1125 target 1-1115, target 2-1076, stop loss 1142
STERLITE : (395.85)
Buy Above 397 target 1-407, target 2-417, stop loss 390
Sell Below 392 target 1-385, target 2-375, target 3-355, stop loss 397
TATA STEEL : (261.10)
Buy Above 260 target 1-272, target 2-284, stop loss 249
Sell Below 249 target 1-243, target 2-227, stop loss 255
Sensex : (10803.86) Today Sensex face resistance at 10940, if cross 10940 then goes up to 11076 and 11211. Sensex find support at 10661, if 10661 break then fall up to 10519 and 10388.
Nifty : (3342.05) Today Nifty face resistance at 3395, if cross 3395 then goes up to 3446 and 3498. Nifty find support at 3298, if 3298 break then fall up to 3254 and 3202.
Nifty April Futures ( As on 9th April 2009 ) closed at 3355.40 ( Rs 13.35 Premium ) with a turn over of Rs 14648.03 crores, adds 1076000 shares (2.63%) in open interest pushing the open interest to 42002750 shares.
BUY CENTRALBANKOFINDIA ABOVE 43.30 TGT 47>51 STOPLOSS40.50
ABG SHIPYARD ABOVE 139 TGT 153>167 STOPLOSS 125
Weekly Nifty Invert Chart for clear direction .....on weekly nifty invert chart 3470zone will act as strong resistances if 3470 levels breakout with volume next target 3765 zone as shown in chart ...
Daily Nifty Last week market extended the gains by 4.1% in nifty for the fifth consecutive week. Last week nifty cross the main hurdle 3240 and kiss 3400 levels for coming week there is strong and major downward sloping trendline resistances as shown in chart 3470 and plus 200 –days EMA. On daily chart nifty had made DOJI pattern it suggest indecisiveness between bulls and bears. For this week closing below 3297 zone it will test 3194-3154 zones on the upside trading above 3470 it will 3650-3765 zones as shown on weekly chart. Market are trading in overbought zone correction is welcome one can buy on deep for next move.
NiftyHourly The Indian market opened on firm note and traded volatile throughout the session and closed in green zone. For coming session market are heading towards major resistances zone 3470 levels trading below 3307 level we can see profit booking and nifty can test 3257-3194 zones .On the other side trading above 3382 it can test 3407-3432 zone .BUY Gitanjali Gems Stop Loss 60 Target 77
BUY Adlabs Films Stop Loss 207 Target 235
BUY Videocon Industries Stop Loss 115 Target 146
NIFTY (3342.05)
Resistance : 3390 / 3450
Support : 3300 / 3275 / 3255 / 3220
SENSEX (10803.86)
Resistance : 10885 / 10940 / 11075 / 11110
Support : 10760 / 10660 / 10610 / 10555-20
NIFTY FUT (3355)
Resistance : 3405 / 3460
Support : 3305 / 3255
MKT COMMENTS
NIFTY FUT OI up 2.63% with 4% decreasing volumes indicating forming of short positions at higher levels.
We expect NIFTY FUT to trade positive with volatility.
On Monday,Opening is Flat to Up,
Stay Long Above 3355,Sl Below 3340,Tgt 3385-3400-3415-3445-3485,
Sustain Below 3335,Sell with Sl Above 3350,Tgt 3305-3285-3260-3245-3210.
BUY & HOLD FOR 1 Week
Buy INFOSYS Above 1455,Sl 1430
Buy TATAELEXSI Above 90,Sl 85
Buy JPASSOCIATE Above 110/15,Sl 100
Buy ADLABS Above 215/20,Sl 200
Buy SBIN (1140),Sl Below 1125,Tgt 1155/70/80
Buy SAIL Above 110,Tgt 115/20/25,Sl 105
Buy RELCAPITAL Above 470,Tgt 488/500/530,Sl 455
Sell ACC Below 585,Tgt 575/65/45,Sl 595
Sell BHEL Below 1500,Tgt 1475/40/1410,Sl 1515
Sell BIOCON Below 150,Tgt 145/40/25,SL 160
Sell SIEMENS Below 285,Tgt 280/70/60,Sl 290
APRIL FUTURES
Buy RENUKA Above 105,Sl 104,Tgt 107/09/11/12
Buy JSWSTEEL,Sl 320,Tgt 380/410
Buy SBIN@ 1110/20,Sl 1100,Tgt 1145/75
Sell RECL Below 97,Sl 98,Tgt 95/94/93/92/90/88 (Lot Size : 3900)
RIL (1733) : Sell 1760/50,Sl 1780,Tgt 1740/20/05
ONGC (884.95) :
Sell@ 915/05,Sl 925,Tgt 885/65
Or
Buy@ 865/75,Sl 850,Tgt 880/895
COMEX GOLD (JUN) : Daily stochastics declining into oversold territory suggest the selling may be drying up soon. The close below the 9-day moving average is a negative short-term indicator for trend. The downside closing price reversal on the daily chart is somewhat negative. It is a mildly bullish indicator that the market closed over the pivot swing number. The next downside objective is now at 871.3. The next area of resistance is around 888.2 and 896.2, while 1st support hits today at 875.8 and below there at 871.3.
WEEKLY:-
Resistance at $888/$894/$898-9day moving average
Support at $876/$870/$865-4 week low/$852/$823-14 day RSI at 30%/$814/$805-13 week low.
POSITIONAL : MCX GOLD SELL 14360/10,Sl 14525,Tgt 14140/040/13880
COMEX SILVER (MAY) : Daily stochastics are trending lower but have declined into oversold territory. The market's short-term trend is negative as the close remains below the 9-day moving average. The close over the pivot swing is a somewhat positive setup. The next downside objective is now at 1196.0. The next area of resistance is around 1241.0 and 1260.0, while 1st support hits today at 1209.0 and below there at 1196.0.
Buy June GOLD Above 14235,Tgt 14310/415/645,Sl 14190
Sell GOLD Below 14170,Tgt 14045/13915/835,Sl 14190
Buy May SILVER Above 20470,Tgt 20670/870/21355,Sl 20375
Sell SILVER Below 20300,Tgt 20150/19825/660,Sl 20375
Buy May CRUDE Above 2725,Tgt 2760/2800/2900,Sl 2700
Sell CRUDE Below 2670,Tgt 2655/2595/2495,Sl 2700
Buy April COPPER Above 229,Tgt 231/33/236,Sl 226
Sell COPPER Below 226,Tgt 223/18/10,Sl 229
Weekly Market Outlook (13/04/2009 – 17/04/2009)
NIFTY (3342.05)
Resistance : 3395 / 3445 / 3480 / 3550 / 3575 / 3740
Support : 3310 / 3270 / 3195 / 3140 / 3105 / 3045 / 2890
SENSEX (10803.86) :
Huge Supports At 10620/680 , if This Sustained On Closing Basis , Markets Are In Bullish Zone
Resistance : 10970 / 11120 / 11270 / 11345 / 11500 / 11760
Support : 10680-20 / 10555 / 10305 / 10230 / 10045 / 9695
Astrological Outlook for the Week
Current Planetary Position - Astrologically, in Transit, 2 planets i.e. Mars, and Neptune are placed in Aquarius. Sun and Exalted Venus (Retrograde) and Uranus are placed in Pisces. Mercury hasalready entered Aries on 06th April. Ketu is transiting in Cancer. Moon will be in scorpio on 13th April. Saturn (R) continues to be stationed in Leo, Pluto is in Sagittarius while Debilitated Jupiter and Rahu are placed in Capricorn. Moon will transit Scorpio, Saggitarius and Capricorn during this week. Some important events during the week are that Sun will enter Aries on 14th April. Mars will enter Pisces on 15th April and most Important is that Venus will get direct on 18th April ( Retrograde Venus was one of the important factor of Nifty Rise from 2550 since 09th March)
Coming to few aspects in transit and with Natal Charts of NSE & BSE - In Transit , Tr Sun sextile with Tr Mars on 10th is bullish, Tr Mars sextile with Tr Jupiter on 10th April is also bullish. Tr Mercury Trine aspect with Tr Pluto is bullish for 13th-15th April. Tr Mercury Square aspect with Tr Rahu can cause volatility on positive side. Tr Sun sextile aspect with Tr Uranus on 14th is also a bullish signature. Tr Mars Conjunction with Tr Uranus in mildly bullish. In NSE Natal Chart - Tr Sun Square aspect with Natal Neptune is mildly bearish. Transit Mars Sextile aspect with Natal Neptune is mildly bullish. Tr Sun opposition to Natal Mercury is mildly bearish. but Tr Mercury sextile aspect with Natal Saturn on 12th is bullish for next 2-4 days. Tr Sun Square aspect with Uranus is bullish for 13th April. Tr Mars sextile aspect with Natal Sun can cause decline early next week. Tr Mercury opposition with Natal Sun is a bearish aspect. In BSE Natal Chart - Tr Mars quincunx aspect with Natal Jupiter is mildly bearish. Tr Sun trine aspect with Natal Mars is mildly bearish. Tr Sun sextile aspect with Natal Saturn is on 15th can give positive effect. Tr Mercury sextile aspect with Natal Mercury is slightly bullish.Moon's transit through Scorpio is mildly bearish initially but to bounce back later.It is likely to volatile during it's transit through Saggitarius and bearish when it transits through Capricorn. However Moon's effect are not to be seen in isolation but in totality with Bullish and Bearish aspects of other planets.
NIFTY FUTURE
Total OI of NIFTY FUT up 10.32%, NIFTY FUT up 4.12% last week. OI of NIFTY 3400 CE is up 75% prices up 101.72%, NIFTY 3500 CE is up 112.08% prices up 109.79% and NIFTY 3600 CE is up 435.63% prices up 136.80% last week showing call buying. OI of NIFTY 3100 PE is up 43.16% prices down 51.19%, NIFTY 3200 PE is up 115.15% prices down 48.60% and 3300 PE is up 445.96% prices down 44.35% last week showing put writing.
We expect NIFTY SPOT to show up move followed by profit booking at higher levels next week. NIFTY SPOT Resistance at 3440-50, 3490-3500 levels, strong resistance at 3550-60 levels. On down side, NIFTY SPOT support at 3300-3310, 3260-70 levels, strong Support at 3140-50 levels.
SECTOR WATCH : SUGAR
Trend : Bullish
Total OI of BAJAJHIND FUT up 30.20% prices up 17.45%, BALRAMCHIN FUT up 14.62% prices up 14.71%, RENUKA FUT up 11.59% prices up 5.79% and TRIVENI FUT up 14.07% prices up 22.35% last week. Sugar counters showing long positions build up in last week. We expect positive move in coming week.
SHIPPING : Trend : Bullish
Total OI of GESHIP FUT up 27.64% prices up 2.09%, MLL FUT up 49.65% prices up 21.81%, and SCI FUT up 180.98% prices up 9.47% last week. Shipping sector stocks showing long positions build up. We expect positive move in coming week. SCI FUT looks most strong.
NIFTY FUTURE OBSERVATION
Observation:-
1) Total OI of NIFTY FUT up 10.32%, NIFTY FUT up 4.12% last week. 5th consecutive week positive close.
2) Out of NIFTY 50 Stock FUTS, 42 Stock FUTS closed positive, 2 Stock FUTs closed negative and 6 Stock FUTS closed flat last week.
3) OI of NIFTY 3400 CE is up 75% prices up 101.72%, NIFTY 3500 CE is up 112.08% prices up 109.79% and NIFTY 3600 CE is up 435.63% prices up 136.80% last week showing call buying. OI of NIFTY 3400 CE is 32.06 LK, highest OI in CALLs.
4) OI of NIFTY 3100 PE is up 43.16% prices down 51.19%, NIFTY 3200 PE is up 115.15% prices down 48.60% and 3300 PE is up 445.96% prices down 44.35% last week showing put writing. OI of NIFTY 3000 PE is 56.83 LK, highest OI in PUTs.
5) Total OI of APR series CALLs is up by 37.66 LK to 2.36 CR. APR series PUTs is up by 46.83 LK to 4.73 CR last week. APR series PCR (OI) at 2.00. Total OI of APR series PUTs (single series) at 4.73 CR, higher than total OI of NIFTY FUT (all series) 4.39 CR.
World Markets - Astrologically
Crude Oil / Gold / Silver
CRUDEOIL likely may remain under pressure for 1-3 Days during this week but expect Crude Oil to bounce back any time from 07th April to 22nd April 2009. As already mentioned 2 Weekly close above US$ 51/ barrel will set higher targets of $67-$69 which will be achieved in coming weeks. Regarding GOLD and SILVER, Both Gold and Silver will try to stage come back early this week but overall strategy should be to book profit on every rise from 11th April till 20th April 2009.
US Dollar/ Indian Rupee ( USDINR)
Astrologically, Indian Rupee may turn weak against US Dollar from 08th April till 15th May 2009 with occasional move against US Dollar in between around 17th-21st April 2009.
US Markets
Astrologically, As already mentioned about a month back that US Markets are likely to be positive till 8th-10th of April despite occasional declines. Now with present planetary configurations, both DJI and NASDAQ can remain volatile to bearish between 13th to 19th but likely to bounce back till 26th-28th April. A significant corrective decline can be expected after 26th April 2009.
Dow is also supportive at the moment and has settled above the crucial 8000 mark. The touch area come at 8200 +/- 20 points and then at 8582 – 8910 which if broken can take it till 9760. If Dow moves above the mentioned levels then we can hope that Sensex also would move up instead reeling under election pressure.
Conclusion :-
I expect NIFTY SPOT will show up. NIFTY SPOT Resistance at 3440-50, 3490-3500 levels. Profit booking expected between 3500-3550 levels. NIFTY SPOT support at 3300-3310, below 3290 levels, next target will be 3260-70 levels.
- ICICI Bank, a private sector bank is a multi-specialist financial service provider with leadership position across the spectrum of financial services in India.
- ICICI Bank is the 2nd largest bank in India and Bank breaking into the top 100 financial institutions in the world, in terms of market capitalisation.
- ICICI running its business with six principal groups, such as Retail Banking, Wholesale Banking, International Banking, Rural, Micro Banking and Agri-Business, Government Banking and Corporate Centre.
- The Bank offers a wide spectrum of domestic and international banking services to facilitate trade, investment banking ,Insurance, Venture Capital, asset management, cross border business & treasury and foreign exchange services besides providing a full range of deposit and ancillary services for both individuals and corporates through various delivery Channels and specialized subsidiaries.
Share Holding patern :
- Institutions, Mutual Funds & Fiis : 58.98 %
- Public : 13.92 %
Financial Highlights :
- Net profit of Rs 1272.15 Crore for the quarter ended December 31, 2008 as compared to Rs 1230.21 Crore for the quarter ended December 31, 2007.
- Income has increased from Rs 10338.36 Crore for the quarter ended December 31, 2007 to Rs 10350.62 Crore for the quarter ended December 31, 2008.
Technical Overview :
- The stock On Day Chart has given an "Inverted Head & Shoulder Pattern" breakout with good volumes indicating a trend reversal.The stock is recommended to buy cmp Rs 397.70
Support Levels :
- Support 1 : 382
- Support 2 : 360
- Support 3 : 348
- Support 4 : 334
Stoploss : 314 on closing basis.
Targets :
- Target 1 : 423
- Target 2 : 438
- Target 3 : 495
- Target 4 : 532
Period : 2 to 3 months.
Tata Steel Ltd Ltd: Rs 261.20Notable observes :
- Tata Steel is the world's 6th largest steel company. It is a Asia's 1st and as well as India's largest integrated steel company in private sector with operations in 24 countries and commercial presence in over 50 countries.
- The company focused on Steel Division, apart from the main Steel Division, Tata Steel's operations are grouped under six Strategic Business Units include Bearings Division, Ferro Alloys and Minerals Division, Agrico Division, Tata Growth Shop (TGS), Tubes Division and Wire Division.
- Tata Steel is a global player with a balanced presence in developed European and fast growing Asian markets and with a strong position in the construction, automotive and packaging markets.
- Its Jamshedpur steel works produces hot and cold rolled coils and sheets, galvanised sheets, tubes, wire rods, construction rebars, rings and bearings.
Share Holding patern :
- Promoter : 33.95 %
- Public : 66.05 %
Financial Highlights:
- Net profit of Rs 732.21 Crore for the quarter ended December 31, 2008 as compared to Rs 1311.76 Crore for the quarter ended December 31, 2007.
- Income has increased from Rs 32074.34 Crore for the quarter ended December 31, 2007 to Rs 33222.59 Crore for the quarter ended December 31, 2008.
Technical Overview :
- The stock On Weekly Chart has given "Channel Breakout ".The volumes for the week looks less due to 2 days trading holiday last week.
- On Daily chart the stock has formed "Higher Top & Higher Bottom Formation"with heavy volumes, indicating the trend reversal.The stock is recomended to buy cmp Rs 261.20
Support Levels :
- Support 1 : 239
- Support 2 : 221
- Support 3 : 207
- Support 4 : 193
Stop Loss : 178 on closing basis.
Targets :
- Target 1 : 276
- Target 2 : 358
- Target 3 : 422
- Target 4 : 488
Period : 6 to 9 months.
Third week of April 2009 will start from 13th April 2009 and will end on 17th April 2009.
Planetary position during Third week of April 2009
Sun will transit from Pisces and Aries.
Mercury will transit from Aries.
Retrograde Venus will transit from Pisces.
Moon will transit from Scorpio, Sagittarius and Capricorn.
Mars will transit from Aquarius and Pisces.
Jupiter and Rahu will transit in Capricorn.
Retrograde Saturn will transit in Leo.
Ketu will transit in Cancer.
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Stock Market Prediction for 13th April 2009
Transiting Moon will be passing through Scorpio Zodiac sign. Transiting Moon will be in applying aspect with Transiting Ketu, indicates Indian Stock Market BSE Sensex may open Up with 100 Points previous closing and NSE Nifty may open Up. Market may steady or up side between 11.01 and 11.38. Indian Stock Market BSE Sensex and NSE Nifty may get some selling pressure after 13.00 so be careful, but Indian Market may close up to nearer to previous closing.Stock Market Prediction for 14th April 2009
National Stock Exchange and Bombay Stock exchanges will remain closed On 14th April 2009, Tuesday due to National Holiday Dr. Ambedkar Jayanthi 2009.
Stock Market Prediction for 15th April 2009
Transiting Moon will be passing through Sagittarius sign. Transiting Moon will be in separating aspect with Transiting Sun. Market may open nearer to previous closing. Some selling pressure will be in Indian Stock Market between 11.27 and 12.15 but Market may steady or up side between 12.27 and 12.57. Indian Stock Market BSE Sensex and NSE Nifty will be volatile after 14.00 so be careful.
Stock Market Prediction for 16th April 2009
Transiting Moon will be passing through Sagittarius sign. Transiting Moon will be in applying aspect with Transiting Mercury, indicate Some selling pressure will be there after 14.00, but Market may steady or up side between 11.00 and 11.55. Indian Stock Market BSE Sensex and NSE Nifty will try to touch bottom surface, Market will be volatile so be careful.
Stock Market Prediction for 17th April 2009
Transiting Moon will be passing through Sagittarius sign. Void of course Moon will on Friday, indicates Market will be volatile up to 11.55. Market may try to recover after 12.10, but Selling pressure in heavy weight script will try to down Indian Stock Market BSE Sensex and NSE Nifty. Market may steady or up side between 13.45 and 14.22, Market will be volatile so be careful.
Technical Analysis
Nifty has created bullish pattern in last week, if Nifty will close above 3444 for two days, it may go up to 3492. Resistance Level for Nifty will be 3393, 3444 and 3538. Support Level for Nifty will be 3350, 3299 and 3256.
Resistance Level for Sensex will be 10936, 11069 and 11343. Support Level for Sensex will be 10795, 10662 and 10521.
We suggest the investor to book profit at every rise and exit.
NIFTY(3342)
We believe the current rally is the most matured of all after
January 2008 crash. It may be premature to call this the end of
bear phase, for that market has to break the resistance of 3570.
How ever markets look firm, rally will be punctuated by profit
booking/correction but a crash or sell off looks improbable. Today
it may dip to3325, 3290 and 3250.Upside target is 3450 and 3520.
Close below 3050 only can reverse the present trend.
JSWSTEEL(347.50)-
Support at 336 and 320,SL 300.Target 388 in 2/3 days.
PATEL ENGG(170.20)-
Support at 166 and160.Target of 177 and 184 in 2/3 days.
IOB(52.25)-
Support at 50 and 48.Target 57 in 2/3 days.SL 45.
CENTRALBK(42.2)-
Support at 40 and 38.Target 48 in 1/2 days.
DEWAN HOUSING(65.10)-
Support at 63 and 60.Target 70 and 76 in 2/3 days.
RELIANCE(1735)-
The stock has moved up by nearly 60% from its March
6 low of1115 and yet shows no signs of any reversal in
short term. Today it may find support at 1732,1720 &1680.
On the up side it can move to 1900 (if continues to trade over
1700).
DLF(222)-
The stock can move till 235 and 250 in coming days. Support
213 and 205.Closing below 200 will indicate a further correction.
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