Tuesday, October 13, 2009

 

DAILY MARKET OUTLOOK - 14th Oct 2009

Nifty (5054): Nifty has immediate support around 4980-4950 then 4880 and resistance is at 5070-5154. possible upside 5080-5120-5250-5280.

Sensex (17027): Immediate support around 16820, crucial support is 16200 and strong resistance at 17080-17140 crossover resistance is at 17240-17450

Positive global cues and good IIP data helped our market close a good session of trade on 12 (on 13 the market closed on account of polls, as it's a state holiday in Maharashtra and resume trading on October 14). Sensex shut shop at 17026, up 384 points and Nifty at 5054, up 109 points from the previous close. CNX Midcap index was up 1.57% and BSE Smallcap index was up 1.05%. The market breadth was positive with advances at 823 against declines of 443 on the NSE. Top Nifty gainers included SBI, Reliance Infrastructure and Reliance Capital while the losers were Ambuja Cement, GAIL and Hero Honda.The Nifty witnessed an intra day movement of about 122.60 points. The closing index was 2.21% up as compared to the previous closing index.

we said ‘I would say that technically 4900 is a very strong support to deal with though the market looks down’ the market has managed to stay above our very crucial support of 4900 and stayed closed in the green, technically the trend is still intact up and we may see some more upside in the days to come and hopefully our target of 5154 on the Nifty has a good chance of being achieved… incidentally we hit the high of the day on the Nifty like a dot.

Index Futures and Index Options:
Index futures saw a trading volume of Rs.17425.96 crores arising out of 732803 contracts and Index options saw 1374503 contracts getting traded at a notional value of Rs.34572.43 crores. The total turnover of the Futures & Options segment of the Exchange was around Rs.72005.84 crores.

Options on individual securities:
Out of 179 securities, options on 109 underlying securities got traded. The total number of contracts traded
was 62004 with a notional value of Rs.2023.62 crores.

Futures on individual securities:
Out of 179 securities, stock futures on 179 underlying securities got traded. The total number of contracts
traded was 539313 with a traded value of Rs.17983.83 crores.

INTRADAY CALLS

SREINTFIN ( Srei Infrastructure Finance Limited )
BUY ABOVE 81.5 sl-78.7 tgt1-83 tgt2-85 tgt3-87.5 tgt4-89
SELL BELOW 78 sl-79.5 tgt1-76.7 tgt2-75 tgt3- 73 tgt4-70.5

RNRL ( Reliance Natural Resources Limited )
BUY ABOVE 90 sl-89 tgt1-93 tgt2-95.5 tgt3-98 tgt4-100
SELL BELOW 87 sl-89.6 tgt1-85 tgt2-83 tgt3-80.5 tgt4-78.5

DISHTV ( Dish TV India Ltd. )
BUY ABOVE 46.5 sl-45.5 tgt1-47.5 tgt2-48.20 tgt3-49 tgt4-50.10
SELL BELOW 45 sl-46 tgt1-44 tgt2-43 tgt3-42.20 tgt3-41.50

LITL ( Lanco Infratech Ltd. )
BUY ABOVE 525 sl-507 tgt1-535 tgt2-548 tgt3-558 tgt4-569
SELL BELOW 505 sl-510 tgt1-495 tgt2-482 tgt3-475 tgt4-460


INDIAINFO ( India Infoline Limited )
BUY ABOVE 151.5 sl-147.8 tgt1-153 tgt2- 155 tgt3-157.5 tgt4-160
SELL BELOW 147 sl-148.5 tgt1-145.5 tgt2-143.5 tgt3-142 tgt4-140

SESAGOA ( Sesa Goa Ltd )
BUY ABOVE 303 sl-297 tgt1-307 tgt2-312 tgt3-317 tgt4-322
SELL BELOW 295 sl-299 tgt1-291 tgt2-287 tgt3-283 tgt4-280


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Comments:
Evening Update of market

SREINTFIN open 81.80 made high 85.20 target 2 achieved

RNRL open 88 made low 85.30 target 1 almost achieved

DISHTV open 46.60 high 47.65 target achieved

LITL open 528 made high 546.90 almost target 2 achieved

INDIAINFO open 152.80 made high 163.20 rocker star more then target 4 achieved

SESAGOA open 304 made high 344.45 second rocker star more then target 4 achieved


as we said and written in morning nifty possible upside 5120 and see closed 5120 and sensex possible upside 17240 clsoed 17231 see the power of charts
 

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