stock market

 

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Market Participants

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DATE – 19^th    MARCH 2009

 

WORLD MARKETS :

 

SGX NIFTY 2800 +21.5
DOW +1.2%
NASDAQ +2%
NIKKEI -0.1%
STRAITS +1.3%
HSENG +0.4%
SHANGHAI +1%
DOWfut -0.6%
NASDAQfut -0.6%
CRUD49.2

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Today's Techncial Outlook

Nifty:   Resistance: 2721/2667   Support: 2831/2840/2874	SBI:   SELL SBI BELOW 945   Target: 940/935/930   Stop Loss: 951
BAJAJ AUTO:   BUY BAJAJ AUTO ABOVE 546   Target: 550/554/558   Stop Loss: 539	DIVISLAB:   BUY DIVISLAB ABOVE 920   Target: 926/932/940   Stop Loss: 910
ONGC:   BUY ONGC ABOVE 724.50   Target: 728.5/733/738   Stop Loss: 719

 

 

Bull & Bears

Fight Continue.......

Intra day Pull Back

play for short sell

BSE TRADING RANGE

8950 to 9120

Market Out Look

Failure to cross 2800 resistance level which indicate some weakness and profit booking at higher level. For smooth up run it must close above 2800 and continue trade. If this do not happened, we are again going to downward journey. Wait for confirmation on Intra day trading.

Option Strategy :

Over all in Options fronts, Nifty 2800 call was the most active and added about 2.40 lacs shares in open interest. On the other hand 2800-2700 put witness accumulated . The 2900 call an accumulation which indicate in short side.

Nifty: nifty 2700 and 2800 call writing was seen from upper levels, our clients bought 2700 call at 127 with the target of 145-150 our both target achieved.

Nifty: 2500 put was so active and buying was seen in lower levels.

RELIANCE: profit booking was seen in reliance 1350 1380 call from upper level, we suggest more selling pressure is expected.

 

 

NIFTY FUTURE + BANK NIFTY +CNX IT

Nifty future :

Today support 2751, 2730

Today resistance 2794, 2821-2853

Close Below 2500

Ultimate target

2000 Below

Bank Nifty :

Below 3700 further weakness.

NIFTY: Today resistance 2805, 2840, down side below 2750, it will test 2733 and close below further weakness

BSE: Strong hurdle 9100-9150...today break 8950, further weakness and selling opportunity.

CNX IT

Ready for bullish break out. Strong support 2000, looks resistance 2200, thereafter strong up move can not be ruled out.

BANK NIFTY :

Lower level value 3566 3240 then 2722. Weakness is not over... and rise selling opportunity. Decisively break 3700 further weakness.

DOW: From over sold up move continue and it will face resistance 7500, 7800. Today next area of resistance around 7240 and 7281, down side support 7000 hold positive bias

STOCKS TO WATCH

RELIANCE: (closing 1332)

If trade above 1300 then buying opportunity with the stop loss of 1290 for the target of 1350-1380.

SBI: (closing 960)

1000 is the strongest resistance for the stock so sell this stock with the stop loss of 1000.

TATASTEEL: (closing 176.55)

Very good closing above 170 stock is more bullish, next target will be the 180-185 if not breaks 170.

DLF: (closing 166)

Strong rally seen in this stock more upward is expected long term traders may buy this stock with the stop loss of 154.

SAIL: (83.20)

Yesterday we told you that buy this stock only above 81 just check yesterday's low. We hope you follow this call. Again closing above 81 is good indication for short term buying.

Still you need to check our performance!!!!!!!!!!!!!

AKRUTI: (closing 2067)

Strong rally from last few trading session, major resistance will be the 2350 if breaks this then next target will be the 2500 2700.

JP ASSOCIATE: (closing 79.50)

Profit booking is expected from upper levels.

 

 

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DISCLAIMER :

Stock trading involves high risk and one can lose Substantial amount of money.The recommendations made herein Do not constitute an offer to sell or solicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will Not result in losses. Readers using the information contained herein are solely responsible for their actions. The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on technical analysis only. NOTE WE HAVE NO HOLDINGS IN ANY OF STOCKS RECOMMENDED ABOVE.