NEWS

(NOORESH)

Sensex Technical View :

• Sensex pulls back as expected and may now test the level of 13480 which is gap area. For Nifty similar level comes to 4050-4100.
  
• As seen in the chart the fibonacci retracement levels are placed at 13300/12300 respectively.
• Momentum line is still lower so we would keep a watch on it in coming weeks.
• Gap area is around 12272-13480. These levels correspond with the fibonacci levels.

Sensex may find a new range in coming sessions. 13300 should hold up for the next few sessions below which the next logical support comes to 12300 although there would be many moving averages firming up. So wait and watch for a new range to be formed if it breaks 13300.

This is what was mentioned before Tuesday opening

"" Investors should be highly cautious and book out of large caps and over run stocks at least to the extent of 50-60% when index starts moving above 14700Sensex /4500 Nifty or even earlier. ""

Now investors who have booked out of LT,BHEL and other large caps which they were stuck from higher levels should look to cover part of the qty at 13300-13500 which would be 10-15% lower from their price and rest keep doing in parts till 12300. This is just a cost reduction exercise.

REVIEW :

Avaya,Patel Int , Time Techno , Kirl Oil etc gave a good move of 20-30% and one should book half the quantity to reduce acquisition costs.

PTC India did a sharp 10% move in the morning to settle lower. Look to add around 77-75 zone. Godawari did a sharp move of 20% in the day itself giving good gains.

Continue to remain bullish on Bank Of rajasthan hold.Fortis does close to tgt of 90.

Emmsons,Iwind,gonterman are risky bets keep a stop of 42/18/21.Deeper stops as high risk high return stocks for next 1-2 mths. Small exposures only.

INTRA DAY PICKS

Manugraph 48 to 57 , Zee news 42 to 48 , Escorts 55 to 58 ( closed below open ) ,Rolta 100 to 114. gave good intra day returns 8-15% as mentioned.NDTV closed in the negative keep a stop of 120.

STOCKS TO WATCHOUT FOR :

ONGC

Click on chart above to enlarge.

The stock has huge resistance around 1120 range and has not crossed in last so many months. Short on rise to 1100 or if opens around 1050-1070 in parts with a target of 1020/950 in short term.

Great Offshore

Chart attached.

Stock has come towards breakout zone with high volumes. Buy on dips to 315/304 or if stays above 335 with a tgt price of 370/440 in medium term.

Continue to maintain weak stand on BOB , PNB and other large caps.

SMALL CAP INVESTMENT PICK ;

PIRAMAL GLASS

The stock seems to be attractive at 48-40 levels with a long term view only. Investors can buy this stock in a pyramid manner by starting 25% qty at current levels. Dont expect quick moves in the stock and hold for next 6 mths - 1 year for good appreciation.

Rajandran)

From the trin charts it is seen that the first buy signal arrives from the trin chart. When the 10 day of

SMA of TRIN dips below 1(Bullishness). i.e when nifty shoots above 2830. At the same time there is a

bullish 5/13 EMA crossover happened in Nifty daily charts. Since then market is moving with 13 EMA

as base resistance. Whenever market reaches oversold levels(i.e RSI-2 greater than 90-95) Nifty tries to

bend towards 13 day EMA.

As of Now Trin shoots above 1(Bearisness) after Nifty hitting historical circuits. And It is also observed from

the charts that Nifty is moving once again towards 13 EMA(3900) line to take it supports. Till now 13 EMA is believed

to be the supports for the current trend.

(Inder Bhatia)

The Indian market opened on weak note tracking weak global cues and close in red zone. For coming session we can see bounces around 4160-4130 zone if market break 4160 zones with volume than we can test 4000 levels . ON the upside 4296-4335 zone will act as resistances .

NIFTY : (4210.90) Today Nifty face resistance at 4250, if cross 4250 then goes up to 4287 and 4363. Nifty find support at 4167, if 4167 break then fall up to 4123 and 4100.

REL INFRA : (1112.25)

Buy Above 1115 target 1-1138, target 2-1165, stop loss 1100
Sell Below 1100 target 1-1078, target 2-1044, stop loss 1115

EDUCOMP : (2647.20)

Buy Above 2650 target 1-2737, target 2-2825, stop loss 2620
Sell Below 2620 target 1-2531, target 2-2493, stop loss 2650

HDIL : (300)

Buy Above 303 target 1-314, target 2-330, stop loss 297
Sell Below 297 target 1-287, target 2-275, stop loss 303

JSW STEEL : (495.65)

Buy Above 510 target 1-533, target 2-570, stop loss 500
Sell Below 500 target 1-471, target 2-448, stop loss 510

TATA STEEL : (365.65)

Buy Above 372 target 1-387, target 2-400, stop loss 365
Sell Below 365 target 1-352, target 2-335, stop loss 372

THERMAX : (389.65)

Sell Below 380 target 1-372, target 2-335, stop loss 380

STERLITE : (532.15)

Sell Below 543 target 1-517, target 2-505, stop loss 550


(chandru)

22.05.2009

Yesterday market open gapdown and they will recovery slowly . The Nifty fut will go 4328 level only. It will trade 10 to 20 minuts in this level. The market will go uptrend. But Not traded again market will come downside upto 4205 levels. Today New government forming this is good news for markets, The new government any good news annoucement we expectation. Today also Weekend. Yesterday Nifty fut will close 4220 levels. This is good support levels. Today market volatile and pastive bios. The Nifty will go uptrend upto 4250 , 4270 , 4290 and 4320 levels. But market will down opening the nifty will come downside 4200 , 4180,4150 and 4120 levels. Plz use Sl every trade.

Nifty Spot

R-4243/4287/4363.

S-4167/4123/4047.


Nifty Fut


R-4251/4297/4374.

S-4174/4128/4051.


Sensex


R-13844/13983/14230.

S-13597/13458/13211.

Yesterday our buy call not active, But Sell call all target's achived. Today Nifty Fut Buy abv 4250 Sl 4220 tgt 4270,4290 and 4320 levels. Nifty Sell Below 4220 Sl 4250 Tgt 4200,4180,4160 and 4120 levels.

(*M J Akhtar*)

• Long Side




1. Buy NIFTY Spot @ 4291 SL=4269 Targets=4302, 4336, 4347, 4365, 4379, 4393,


2. Buy BANKNIFTY Spot @ 7142 SL=7090 Targets=7170, 7261, 7289, 7335, 7371, 7408,


3. Buy RELIANCE Spot @ 2159 SL=2147 Targets=2166, 2188, 2195, 2205, 2214, 2223,


4. Buy SBI Spot @ 1760 SL=1747 Targets=1767, 1791, 1798, 1809, 1819, 1828,


5. Buy EDUCOMP Spot @ 2662 SL=2629 Targets=2680, 2740, 2758, 2788, 2813, 2837,


6. Buy ONGC Spot @ 1074 SL=1054 Targets=1085, 1122, 1134, 1152, 1167, 1182,


7. Buy ICICIBANK Spot @ 700 SL=693 Targets=703, 716, 720, 726, 731, 736,


8. Buy RELINFRA Spot @ 1116 SL=1106 Targets=1121, 1139, 1144, 1153, 1160, 1167,


9. Buy RELCAPITAL Spot @ 876 SL=867 Targets=881, 896, 901, 909, 915, 922,


10. Buy DLF Spot @ 361 SL=356 Targets=363, 372, 375, 379, 383, 386,


11. Buy ABAN Spot @ 886 SL=875 Targets=892, 912, 918, 928, 937, 945,


12. Buy BHEL Spot @ 2044 SL=2024 Targets=2055, 2091, 2102, 2120, 2134, 2149,


13. Buy INFOSYSTCH Spot @ 1540 SL=1530 Targets=1546, 1564, 1570, 1579, 1587, 1594,


14. Buy NTPC Spot @ 219 SL=216 Targets=221, 225, 227, 229, 231, 233,


15. Buy BHARTIARTL Spot @ 869 SL=862 Targets=873, 887, 891, 897, 902, 908,


16. Buy ITC Spot @ 186 SL=185 Targets=187, 189, 190, 191, 191, 192,


17. Buy LT Spot @ 1327 SL=1306 Targets=1340, 1380, 1393, 1413, 1430, 1446,


18. Buy ABB Spot @ 650 SL=642 Targets=655, 669, 674, 681, 687, 693,


19. Buy HDFCBANK Spot @ 1388 SL=1377 Targets=1395, 1415, 1422, 1432, 1440, 1449,


20. Buy TATASTEEL Spot @ 380 SL=376 Targets=383, 392, 395, 399, 403, 406,


21. Buy MARUTI Spot @ 1022 SL=1009 Targets=1030, 1054, 1062, 1074, 1084, 1094,


22. Buy TATAMOTORS Spot @ 369 SL=364 Targets=371, 379, 381, 385, 388, 391,


23. Buy WIPRO Spot @ 390 SL=387 Targets=392, 399, 400, 404, 406, 409,


24. Buy AXISBANK Spot @ 749 SL=743 Targets=752, 763, 766, 772, 776, 781,


25. Buy CAIRN Spot @ 229 SL=227 Targets=230, 235, 236, 238, 240, 241,


26. Buy HEROHONDA Spot @ 1288 SL=1280 Targets=1292, 1304, 1308, 1314, 1319, 1324,


27. Buy M&M Spot @ 668 SL=662 Targets=672, 684, 687, 693, 698, 703,




• Short Side




1. Sell NIFTY Spot @ 4259 SL=4277 Targets=4245, 4227, 4217, 4182, 4171, 4153, 4139, 4125,


2. Sell BANKNIFTY Spot @ 7060 SL=7103 Targets=7023, 6978, 6950, 6859, 6831, 6786, 6749, 6712,


3. Sell RELIANCE Spot @ 2140 SL=2151 Targets=2131, 2120, 2113, 2092, 2085, 2074, 2065, 2057,


4. Sell SBI Spot @ 1740 SL=1750 Targets=1730, 1719, 1712, 1688, 1681, 1670, 1661, 1651,


5. Sell EDUCOMP Spot @ 2608 SL=2634 Targets=2583, 2553, 2535, 2475, 2457, 2427, 2403, 2378,


6. Sell ONGC Spot @ 1040 SL=1056 Targets=1025, 1006, 995, 958, 947, 928, 913, 898,


7. Sell ICICIBANK Spot @ 688 SL=694 Targets=683, 677, 673, 661, 657, 651, 646, 641,


8. Sell RELINFRA Spot @ 1100 SL=1108 Targets=1093, 1085, 1079, 1062, 1056, 1048, 1041, 1034,


9. Sell RELCAPITAL Spot @ 862 SL=869 Targets=855, 848, 843, 827, 822, 815, 808, 802,


10. Sell DLF Spot @ 353 SL=356 Targets=349, 345, 342, 333, 330, 326, 322, 319,


11. Sell ABAN Spot @ 868 SL=876 Targets=859, 849, 843, 823, 817, 807, 799, 790,


12. Sell BHEL Spot @ 2012 SL=2028 Targets=1997, 1979, 1968, 1932, 1921, 1903, 1889, 1874,


13. Sell INFOSYSTCH Spot @ 1524 SL=1532 Targets=1516, 1507, 1501, 1483, 1477, 1468, 1461, 1453,


14. Sell NTPC Spot @ 215 SL=217 Targets=213, 210, 209, 204, 202, 200, 198, 196,


15. Sell BHARTIARTL Spot @ 858 SL=864 Targets=852, 846, 842, 828, 824, 818, 813, 807,


16. Sell ITC Spot @ 184 SL=185 Targets=184, 183, 182, 180, 179, 178, 178, 177,


17. Sell LT Spot @ 1290 SL=1308 Targets=1274, 1254, 1241, 1200, 1188, 1168, 1151, 1135,


18. Sell ABB Spot @ 637 SL=644 Targets=631, 624, 619, 605, 600, 593, 587, 581,


19. Sell HDFCBANK Spot @ 1370 SL=1379 Targets=1361, 1351, 1345, 1324, 1317, 1307, 1299, 1290,


20. Sell TATASTEEL Spot @ 372 SL=376 Targets=369, 364, 362, 353, 350, 346, 342, 338,


21. Sell MARUTI Spot @ 1000 SL=1011 Targets=990, 978, 970, 945, 938, 925, 916, 906,


22. Sell TATAMOTORS Spot @ 362 SL=365 Targets=358, 355, 352, 344, 342, 338, 335, 332,


23. Sell WIPRO Spot @ 384 SL=387 Targets=382, 378, 377, 370, 368, 365, 362, 360,


24. Sell AXISBANK Spot @ 739 SL=744 Targets=734, 729, 726, 715, 711, 706, 701, 697,


25. Sell CAIRN Spot @ 225 SL=227 Targets=223, 221, 220, 216, 214, 212, 211, 209,


26. Sell HEROHONDA Spot @ 1276 SL=1283 Targets=1271, 1265, 1261, 1249, 1245, 1239, 1234, 1228,


27. Sell M&M Spot @ 657 SL=663 Targets=653, 647, 643, 631, 627, 621, 617, 612,
• (*M J Akhtar*)
  
  
  

  1. The PCR was 0.85, 5 dma of PCR was 1.15
  2. The VIX was 49.64, 5 dma of VIX was 51.74
  3. FII bought for 3766.90 cr and sold for 3769.04 cr, net trade was -2.14 cr
  4. DII bought for 1550.76 cr and sold for 1922.24 cr, net trade was -371.48 cr.
  5. The OI in May Series Nifty Futures was, 3,35,14,550 a change of -2876650, or -7.90%
  6. The OI in June Series Nifty Futures was 42,05,150 a change of +1263650, or +42.96%
  7. The OI in July Series Nifty Futures was 66,250 achange of -100, or -0.15%
  8. The OI in 4300 Call Option was 21,93,500, a change of 5,79,800 or +35.93%
  9. The OI in 4200 Put Option was 19,17,150, a change of 4,14,500 or +27.58

  

(Ilango)

If 4170 does not hold, correction can get deeper towards 4070.("a" = "c" - 5-min Chart)
A weekly close @ 4200 or lower will give quite an ugly bearish weekly candle. A close above 4300 will keep the bias to Bulls.A bearish looking weekly candle will have a gravestone doji as well as Island reversal possibilities for the coming week.
A bear rally can end abruptly without any warning..There is no follow up buying after the highs...

(pankaj564)

recently we are following a typical pattern in mkt.we see a consolidation period in a range and we break from range with a gap opening and after moving up again we are going for consolidation in a range.we have seen good support around 10700 and 11600.after testing top of 14931 we are correcting.now where we can get support?

we had huge gap opening on monday post election results and low on monday was 13479 creating a gap betn 12300-13479.so now we can get first support near 13479.

if we look at retrcement lvls of move from 11621-14931, 38.2/50/61.8and 80% lvls are 13673/13276/12885 and 12283.we had seen 13700 today, next support at 13276. which is near 13479.

if we look at retrcement lvls of total move from 8047 to 14931 23.6/38.2 and 50% lvls are 13306/12315 and 11489.

so first lvl of 13306 is near 13479.

we can see good support betn 13500 and 13300.after that gap of 12300-13500 is to be seen . 12300 becomes next strong support.

SantyToday nifty traded higher during first half of the trading hour meeting BUY order target from 4245 to 4315( Expected BUY/SELL set up described in earlier post). But however it sold off in second half giving back all the gain. Nifty has been trending down from past three days after surging high by 17% on Monday( after general election). Nifty has gone higher almost by 100% from November 2008 ( 2280) , touching nearest previous swing high at 4545 (Aug 2008 High). Again after general election, if has somehow pushed too much too soon. So it seems like we are going to see more of down pressure and consolidation activities before another new up wave. Near term swing high is seen at 4550 and swing low at 4045. As long as nifty trades in a range ( 4550-4045), we could go Long and Short at suitable resistances and supports. Tomorrow market could get support near 4185-4220 zone. So watch the opening level with respect to today’s close( 4210). If it goes higher, then BUY above 4230 with stop loss below 4200 for target at 4300/4320. If it fails to get support, then SHORT at 4190 with stop loss at 4230 for target at 4120/4100( 50% fibonacci retracement level).

(SVShah)

NIFTY (4210.9) : Close Below 4165 Levels,Sentiments Will Be Broken For Bulls,Next Support@ 4060

Resistance : 4260 / 4285 / 4340 / 4365

Support : 4165 / 4125 / 4060

SENSEX (13736.54)

Resistance : 13980 / 14100 / 14230

Support : 13595 / 13455

NIFTY FUT (4220) : Major Support@ 4175/45 Levels & Huge Resistance Around@ 4250/60 Levels

Resistance : 4295 / 4375

Support : 4175 / 4145 / 4130

MKT COMMENTS

NIFTY FUT OI down 7.90% with 6% decreasing volumes indicating unwinding of long positions.

We expect profit booking at higher levels.

On Friday,Opening is Flat to Down,

Stay Short Below 4240,Sl Above 4250,Tgt 4205/4170/4145/4120/4090/4060,

Sustain Above 4255,Buy with Sl Below 4245,Tgt 4280/4310/4360/4385.

BUY Positional

GMRINFRA,Tgt 175/200+

ROLTA@ 105/110,Sl 95

ESCORTS@ 53/58,Sl 43

BALLARPURIND

BLKASHYAP Above 350/55,Sl 335

AUROPHARMA Above 345,Sl 330

BIOBON Above 165,Sl 155

PANTALOONR Above 300,Tgt 315/30+

WOCKHARDTPHARMA Above 105/10,Sl 90

INTRADAY

BUY

ROLTA Above 105,Sl 100,Tgt 115/25/35

GREATOFFSHORE,Sl 310

BAJAJAUTO Above 925,Sl 910,Tgt 960/90/1030/60

BOB Above 435,SL 425,Tgt 450/65/85+

EDUCOMP Above 2680,SL 2660,Tgt 2700/20/35+

SELL

VSNL Below 585,Sl 595,Tgt 570/50/30++

TATASTEEL Below 365,Sl 375,Tgt 355/40/25++

NTPC Below 210,Sl 220,Tgt 205/195/80

RELCAP Below 835,Sl 845

WELSPUNJGUJ Below 145,Sl 150,Tgt 140/35/30

SBIN (1712),Sl Above 1735,Tgt 1690/75

FUTURES

BHARTI (851) : Buy@ 830/35,Sl 820,Tgt 850/65/80/95 (Above 865,Hold LongsPositional,Sl 840)

ONGC (1073) : Buy@ 1050/60,Sl 1035,Tgt 1090/1110/1125

RCOM : Buy Above 315,Sl 305,Tgt 320/23/26/29/32/35/38/40/45 (Lot Size : 1400)

HDFC (2090) : Sell@ 2175/55,Sl 2230,Tgt 2100/2050/2000

IDEA : Sell@ 69.5/68.5,Sl 70.5,Tgt 68/67.5/66.7/66/65.3/64.7/64/63 (Lot Size : 5400)