IDFC
Buy above 77.25 for targets of 79.10 and 80.90
Sell below 73.45 for targets of 71.90 and 70.50
REC
Buy above 110.25 for targets of 112 and 113.50
Sell below 106.10 for targets of 105.20 and 104.45
RPL
Buy above 107.50 for targets of 109.10 and 110.25
Sell below 104.20 for targets of 103.10 and 101.90
Happy Investing.
GESHIP-Buy Signal, Support - S1 - 195.13, Resistance - R1 - 210.03, Exp Rng 198.2 - 213.1
ITC-Buy Signal, Support - S1 - 183.1, Resistance - R1 - 192.75, Exp Rng 185.15 - 194.8
MARUTI-Sell Signal, Support - S1 - 764.6, Resistance - R1 - 825.55, Exp Rng 752.53 - 813.48
PUNJLLOYD-Sell Signal, Support - S1 - 96.32, Resistance - R1 - 111.37, Exp Rng 93.08 - 108.13
TATASTEEL-Sell Signal, Support - S1 - 237.95, Resistance - R1 - 254.7, Exp Rng 234.83 - 251.58
LIC Housing Finance: Buy above 287, SL below 275.10, targets 299/301. Sell below 275.10, SL above 287, Targets 267/265.Power Grid Corporation: Buy above 102.25, SL below 99.10, targets 104/106. Sell below 99.10, SL above 102.25, Targets 96/94.
SELL BANK NIFTY BLW 4892 TGT 4850,4800
BUY BANK NIFTY ABV 4922 TGT 4970,5000
SELL RELIANCE FUT BLW 1722 TGT 1712,1700
BUY RELIANCE FUT ABV 1730 TGT 1740,1752
SELL ICICI BANK FUT BLW 406 TGT 400,395
BUY ICICI BANK FUT ABV 411 TGT 417,422
BUY REL CAP FUT ABV 501 TGT 506,512
SELL REL CAP FUT BLW 496 TGT 491,485
BUY REL INFRA FUT ABV 670 TGT 675,682
SELL RELINFRA FUT BLW 665 TGT 660,655
Markets close lower despite rate cut by RBI
Markets opened lower yesterday on weak global cues and the Sensex dipped to a low of 10764 amid high volatility at one time. However, markets bounced back after the announcement of 25 basis points cut in Repo and Reverse Repo rates by the RBI around noon with buying seen in interest sensitive sectors like realty, FMCG and telecom stocks. Select bank, IT and pharma stocks too participated in the rally. However, market sentiment remained subdued despite the rate cut by the apex bank and investors preferred to lighten their commitments and avoided adding fresh positions thereby forcing the market to decline once again in late afternoon trades and finally the Sensex, which had shot up to 11,068 from a low of 10,764, ended the day at 10,898 with a loss of 81 points. The Nifty closed 11 points lower at 3365.30. In intra-day trades, the Nifty touched a high of 3414.70 and a low of 3309.35. Readers are advised to trade with caution in view of high volatility seen in the market during the past few weeks.
NIFTY FUTURE (Last close 3365.85)
NF closed flat yet again after opening lower around its weekly support as was
indicated in these columns yesterday. The counter appears to be getting support
at lower levels despite profit taking at higher rates. However, NF to gain further
strength needs to trade and remain above 3399.75, whereby it may move up to 3434/3453. Strong support for NF exists at 3319.25, which if breached decisively NF may decline to 3301/3280.
HCL TECH FUTURE (Last close 136.20)
The company is a global technology and software services company offering software services, business process outsourcing services and infrastructure management services. The company announced a rise in net profit of 56.83% to Rs 398 crore on 10.98% increase in net sales to Rs 1305 crore in Q2 December 2008 over Q1 September 2008. The company
has large pending orders from firms of international repute and hopes to continue getting their patronage in future too. The stock of the company is moving range bound for the past one
week and closed yesterday flat with high volumes. The stock appears positive on weekly
charts and may move up to 142/147 once it remains and trades above 137.50. Strong
support for the stock exists at 132.75.
HDIL FUTURE (Last close 137.00)
The company is a real estate development company. The company's services include residential, commercial, and retail real estate development. HDIL is one of the largest
players in slum redevelopment and is reportedly expected to generate 10 million sq ft of TDR from the Mumbai international airport project by March 2010 and a total of 50 million sq ft in the next four-five years, from rehabilitating 85,000 slum dwellers from 276 acres of land.
TDR sales currently comprise 15% of HDIL's revenues. The stock of the company
after moving range bound for the past one week closed yesterday above its short term trend line gaining around 6%. The stock will move up to 144/149 once it trades and remains above 138.75. Strong support exists at 133.25.
ITC-Buy Signal, Support - S1 - 183.1, Resistance - R1 - 192.75, Exp Rng 185.15 - 194.8
MARUTI-Sell Signal, Support - S1 - 764.6, Resistance - R1 - 825.55, Exp Rng 752.53 - 813.48
PUNJLLOYD-Sell Signal, Support - S1 - 96.32, Resistance - R1 - 111.37, Exp Rng 93.08 - 108.13
TATASTEEL-Sell Signal, Support - S1 - 237.95, Resistance - R1 - 254.7, Exp Rng 234.83 - 251.58
LIC Housing Finance: Buy above 287, SL below 275.10, targets 299/301. Sell below 275.10, SL above 287, Targets 267/265.Power Grid Corporation: Buy above 102.25, SL below 99.10, targets 104/106. Sell below 99.10, SL above 102.25, Targets 96/94.
SELL BANK NIFTY BLW 4892 TGT 4850,4800
BUY BANK NIFTY ABV 4922 TGT 4970,5000
SELL RELIANCE FUT BLW 1722 TGT 1712,1700
BUY RELIANCE FUT ABV 1730 TGT 1740,1752
SELL ICICI BANK FUT BLW 406 TGT 400,395
BUY ICICI BANK FUT ABV 411 TGT 417,422
BUY REL CAP FUT ABV 501 TGT 506,512
SELL REL CAP FUT BLW 496 TGT 491,485
BUY REL INFRA FUT ABV 670 TGT 675,682
SELL RELINFRA FUT BLW 665 TGT 660,655
Markets close lower despite rate cut by RBI
Markets opened lower yesterday on weak global cues and the Sensex dipped to a low of 10764 amid high volatility at one time. However, markets bounced back after the announcement of 25 basis points cut in Repo and Reverse Repo rates by the RBI around noon with buying seen in interest sensitive sectors like realty, FMCG and telecom stocks. Select bank, IT and pharma stocks too participated in the rally. However, market sentiment remained subdued despite the rate cut by the apex bank and investors preferred to lighten their commitments and avoided adding fresh positions thereby forcing the market to decline once again in late afternoon trades and finally the Sensex, which had shot up to 11,068 from a low of 10,764, ended the day at 10,898 with a loss of 81 points. The Nifty closed 11 points lower at 3365.30. In intra-day trades, the Nifty touched a high of 3414.70 and a low of 3309.35. Readers are advised to trade with caution in view of high volatility seen in the market during the past few weeks.
NIFTY FUTURE (Last close 3365.85)
NF closed flat yet again after opening lower around its weekly support as was
indicated in these columns yesterday. The counter appears to be getting support
at lower levels despite profit taking at higher rates. However, NF to gain further
strength needs to trade and remain above 3399.75, whereby it may move up to 3434/3453. Strong support for NF exists at 3319.25, which if breached decisively NF may decline to 3301/3280.
HCL TECH FUTURE (Last close 136.20)
The company is a global technology and software services company offering software services, business process outsourcing services and infrastructure management services. The company announced a rise in net profit of 56.83% to Rs 398 crore on 10.98% increase in net sales to Rs 1305 crore in Q2 December 2008 over Q1 September 2008. The company
has large pending orders from firms of international repute and hopes to continue getting their patronage in future too. The stock of the company is moving range bound for the past one
week and closed yesterday flat with high volumes. The stock appears positive on weekly
charts and may move up to 142/147 once it remains and trades above 137.50. Strong
support for the stock exists at 132.75.
HDIL FUTURE (Last close 137.00)
The company is a real estate development company. The company's services include residential, commercial, and retail real estate development. HDIL is one of the largest
players in slum redevelopment and is reportedly expected to generate 10 million sq ft of TDR from the Mumbai international airport project by March 2010 and a total of 50 million sq ft in the next four-five years, from rehabilitating 85,000 slum dwellers from 276 acres of land.
TDR sales currently comprise 15% of HDIL's revenues. The stock of the company
after moving range bound for the past one week closed yesterday above its short term trend line gaining around 6%. The stock will move up to 144/149 once it trades and remains above 138.75. Strong support exists at 133.25.
Post a Comment