31-OCT-2008

Market will open gap up and test the Resistance in the morning. Best is to find very highly beaten down stocks and play for the recovery or technical dead cat bounce.

Sensex Resistance 9291-9584-9784. Support 8894-8744-8600-8275.

Nifty Resistance 2759-2785-2871-2950. Support 2631-2565-2472.

Buy HCC 41 SL 39 Tgt 44-49.

Buy Hindalco 53 SL 49 Tgt 57-62.

Buy Suzlon 46 SL 42 Tgt 49-55.

Buy JSW Steel 229 SL 219 Tgt 232-245.

Buy Jindal Stl & Power 690 SL 675 Tgt 771-830.

Buy Titan 1009 SL 982 Tgt 1032-1059.

Buy Bhel 1176 SL 1155 Tgt 1228-1254.

Buy Tata Steel 186 SL 183 Tgt 198-219-241.

29-OCT-2008

ON THE OCCSAION OF NEW YEAR SAMVAT 2065 WISH YOU A VERY HAPPY NEW YEAR AND ONE OF THE BEST N SUCCESFUL TRADING YEAR.

Wish You All A Very Happy New Year. Hope You All Have A Great & Prosperous New Year.

Sensex Resistance 9223-9291-9570-9681. Support 8957-8863-8739.

Nifty Resistance 2788-2871-2947. Support 2635-2605-2526.

Buy Nag Const 48 SL 45 Tgt 51-56.

Buy Satyam Comp 299 SL 285 Tgt 311-321.

Buy L&T 768 SL 757 Tgt 807-850.

Buy RCom 217 SL 207 Tgt 225-234.

Buy IDFC 54 SL 51 Tgt 59-62.

Buy Bhel 1146 SL 1110 Tgt 1196-1275.

Buy GMR Infra 59 SL 54 Tgt 65-68.

Proft Booking will be witnessed at higher levels. Today volatility will be high
because of expiry.

27-OCT-2008

Options IVs are phenomenally high above 90%. The Volatility does not last so much at such high levels. The OIPCR is at a measly 0.68. This is the point where it indicates extremely oversold. May be one can expect some bounce.

Sensex Resistance 8836-9072-9570. Support 8431-8278-7656-7427.

Nifty Resistance 2760-2973-3046-3153. Support 2466-2307-2275-1896.

Sell Sterling Bio 163 SL 170 Tgt 157-147-140.

Sell Hero Honda 728 SL 760 Tgt 680-631.

Sell REC 63 SL 67 Tgt 53-47.

Sell Tata Power 629 SL 665 Tgt 581-478.

Sell VSNL 365 SL 380 Tgt 340-317.

Sell Zee 124 SL 141 tgt 114-108.

Expect strong bounce in extremely oversold stocks like Suzlon, Hindalco.

24-OCT-2008

Market likely to test support. It is suggested to wait for the closing. There is no semblance of stability in the market. But I will advise not to short very aggressively. I will try and risk in buying OTM calls.

Sensex Resistance 9856-9911-10172-10239. Support 9591-9449-9072-8799.

Nifty Resistance 2985-3046-3093-3158. Support 2894-2838-2748-2691.

Sell IOC 371 SL 383 Tgt 358-345-339.

Sell TVS Motors 30.70 SL 32.50 Tgt 29-26.

Sell BOI 256 SL 266 Tgt 248-245.

Sell Bharati 615 SL 638 Tgt 600-588-556.

Sell VSNL 420 SL 438 Tgt 400-392-380.

Sell SRF 84 SL 87 Tgt 90-70-65.

Sell Dena Bank 33 SL 35 Tgt 31.50-30.00-28.00.

Sell Andhra Bank 51 SL 53.60 Tgt 48-45.

Sell Synd Bank 60 SL 61.40 Tgt 56.55-52.50.

Sell RPower 107 SL 112 Tgt 102-95.

Sell HDFC 1763 SL 1815 Tgt 1682-1641-1586.

23-OCT-2008

Market will continue in its down trend as the market continues its downtrend.

Sensex Support 9895-9449-9072-8799. Resistance 10239-10298-10421.

Nifty Support 2997-2931-2838. Resistance 3099-3139-3185.

Sell NTPC 144 SL 148 Tgt 134-129.

Sell BoB 283 SL 291 Tgt 267-263.

Sell BoI 270 SL 279 Tgt 260-248.

Sell OBC 155 SL 160 Tgt 147-139.

Sell UBI 139 SL 145 Tgt 134-128.

Sell SBI 1392 SL 1430 Tgt 1368-1352-1309.

Sell PNB 472 SL 489 Tgt 460-444-425.

Sell Bharati 666 SL 687 Tgt 652-628.

Sell RIL 1316 SL 1344 Tgt 1281-1248.

Sell IVRCL Infra 114 SL 121 Tgt 105-92.

Sell Jindal Steel 717 SL 739 Tgt 689-673.

22-OCT-2008

Market likely to bounce back after opening lower. Sensex will face severe resistance in the zone of 10787-10813.

Sensex Resistance 10787-10813-10891. Support 10428-10072-9911.

Nifty Resistance 3274-3335-3350. Support 3198-3177-3117-3046.

Buy Praj Ind 86 SL 82 Tgt 90-96.

Buy Chambal Fert 44 SL 42 Tgt 47-52.

Buy NIIT 32 SL 31.40 Tgt 35.00-36.25-38.00.

Buy Century Tex 206 SL 200 Tgt 213-220-232.

Buy RPower 120 SL 117 Tgt 125-130.

Buy Sobha 125 SL 120 Tgt 131-142.

Buy Crompton 178 SL 173 Tgt 184-194.

NTPC, Bharati Airtel, show good short build up

21-OCT-2008

Market likely to show some recovery. Since yesterdays bottom was not violated and bullish harami has been formed in the indices.

Sensex Resistance 10538-10787-10841. Support 10160-10023-9911.

Nifty Resistance 3178-3198-3335. Support 3108-3058-3046.

Buy Ind Bank 135 SL 132 Tgt 138-142-146.

Buy 3i Info 50 SL 48 Tgt 55-59.

Buy NIIT 30 SL 28 Tgt 33.45-36.25-42.10.

Buy Can Bank 181 SL 175 Tgt 188-191-194.

Buy Century Tex 206 SL 200 Tgt 213-222-232.

Buy IOB 95 SL 92 Tgt 100-104-107.

Buy BoB 312 SL 308 Tgt 320-327.

Buy DCB 33.80 SL 32 Tgt 37-10-38.50.

Buy HCC 44 SL 43 Tgt 50-53.

Buy TCS 491 SL 465 Tgt 519-546-561.

Buy REL Cap 656 SL 635 Tgt 680-695-712=5.

Buy JSW Steel 260 SL 245 Tgt 278-288-297.

Buy Sobha Dev 120 SL 114 Tgt 132-142.

Buy Satyam 288 SL 279 Tgt 305-314-324.

19-OCT-2008

Market is oversold and we can expect some bounce in the morning. But the bounce will not sustain. Use this bounce to sell your pending long positions and create short at higher levels.

Sensex Resistance 10149-10239-10581. Support 9847-9449-8799.

Nifty Resistance 3142-3198-3269. Support 3018-2997-2940-2748.

Sell Bharti 677 SL 700 Tgt 653-580.

Sell Hero Honda 814 SL 832 Tgt 785-759.

Sell Maruti 640 SL 670 Tgt 624-603.

Sell Tata Power 748 SL 774 Tgt 722-696.

Sell NTPC 150 SL 158 Tgt 140-132.

Sell Tata Steel 247 SL 259 Tgt 239-222.

Sell TCS 453 SL 480 Tgt 437-411.

Sell EKC 193 SL 201 Tgt 186-174.

Sell Bhel 1191 SL 1250 Tgt 1099-1022.

Sell ACC 486 SL 508 Tgt 472-461.

Sell ABB 631 SL 658 Tgt 595-575.

17-OCT -2008

Market likely to move up. But the Volatility will play its role as usual.

Sensex Resistance 10678-10787-10993. Support 10449-10285-10150-10017.

Nifty Resistance 3294-3333-3397. Support 3232-3175-3147-3099.

Buy BoB 316 SL 308 Tgt 322-329-338.

Buy PNB 499 SL 489 Tgt 509-520.

Buy HDIL 129 SL 121 Tgt 139-148.

Buy Lanco 153 SL 147 Tgt 160-176.

Buy DCB 30 SL 28 Tgt 32.70-34.00-37.10.

Buy HPCL 227 SL 223 Tgt 236-249.

Buy Can Bank 182 SL 176 Tgt 188-194.

Buy JP Ass 74 SL 69 Tgt 83-89.

Buy Sesa Goa 84 SL 78 Tgt 94-99.

Buy Union Bank 161 SL 154 Tgt 168-177.

Buy SBI 1540 SL 1484 Tgt 1576-1589-1620.

Buy Aban 1112 SL 1070 Tgt 1170-1192-1260.

Buy BOI 295 SL 289 Tgt 305-312-327.

Buy Nag Const 49 SL 45 tgt 56-65.

Buy Bata 101 SL 96 Tgt 105-109.

Buy REC 69 SL 66 Tgt 73-77.

16-OCT-2008

Market likely to make a new bottom and it will be important how the market reacts from there. The 61.8% Retracement levels of the Sensex and Nifty are at 9895 and 2997 resp.

It will be interesting to note that pull back if any will be led by PSU banks and Oil
Marketing Companies.

Sensex Support 9951-9895-9449. Resistance ???

Nifty Support 3117-3040-2997-2931. Resistance ???

Sell Essar Oil 98 SL 104 Tgt 89-76.

Sell L&T 895 SL 934 Tgt 873-850.

Sell Bhel 1397 SL 1433 Tgt 1355-1335.

Sell Educomp 2319 SL 2359 Tgt 2261-2136.

Sell Titan 803 SL 835 Tgt 761-737.

Sell VSNL 486 SL 499 Tgt 473-448.

Sell NTPC 167 SL 171 Tgt 161-158.

Sell RIL 1520 SL 1555 Tgt 1492-1477.

Sell TCS 543 SL 564 Tgt 527-508.

Sell ABB 651 SL 675 Tgt 631-613-585.

SBI, BPCL, HPCL, UBI, IOC may lead the pullback if any.

15-oct -2008

Market is going to open gap down and it will behave in very volatile manner, Sensex has left a gap between 11410 - 11361 so the gap will be filled.

SENSEX SUPPORT- 11337-11238-11055-10955, RESISTANCE-11597-11632-11667.

NIFTY SUPPORT- 3474-3423-3370-3331, RESISTANCE-3548-3596-3648.

BUY VSNL 495 SL 487 TGT 510-525.

BUY EDUCOMP 2462 SL 2390 TGT 2515-2555.

BUY EVERONN 234 SL 220 TGT 256-266.

BUY BoB 309 SL 303 TGT 320-324.

BUY OBC 168 SL 161 TGT 176-185.

SELL ONGC 881 SL 908 TGT 869-834.

14-OCT -2008

Market likely to have a whiff of what it is like to have an upper circuit. Dont rush to buy index stocks as they will open with a huge gap. Try some mid cap counters.

Sensex Resistance 11721-12153-12558. Support 11063-10817-10527.

Nifty Resistance 3599-3715-3799. Support 3445-3381-3272.

Buy NIIT 30 SL 28 Tgt 35-40.

Buy Can Bank 177 SL 174 Tgt 185-194.

Buy Orbit 100 SL 95 Tgt 113-133-144.

Buy Dena Bank 35 SL 33 Tgt 37-39-42.

Buy JP Ass 80 SL 77 Tgt 87-98.

Buy NTPC 177 SL 174 Tgt 186-192.

Buy BOI 278 SL 271 Tgt 294-299.

Buy Nag Cost 59 SL 57 Tgt 63-68-81.

Buy BRFL 239 SL 214 Tgt 262-289.

Buy FSL 21 SL 20 tgt 25-27.

Buy Bhel 1499 SL 1470 Tgt 1595-1630.

Buy ABB 703 SL 682 Tgt 741-753-786.

Buy Siemens 316 SL 308 Tgt 333-360.

Buy Akruti 686 SL 676 Tgt 724-748.

13-OCT -2008

The market is oversold and some rebound may be visible from lower levels. But there will lot of volatility and uncertainty. Selling pressure will be unavoidable at higher levels. Be cautious and trade in less quantity.

Sensex Resistance 10746-10975-11405. Support 10209-9951-9895.

Nifty Resistance 3394-3502-3627. Support 3209-3198-3119-3041.

Buy Can Bank 172 SL 164 Tgt 179-185.

Buy Ranbaxy 292 SL 276 Tgt 302-312.

Buy Aban 1111 SL 1040 Tgt 1205-1260.

Buy Maruti 679 SL 659 Tgt 692-704.

Buy OBC 159 SL 156 Tgt 169-174.

Buy Praj Ind 86 SL 83 Tgt 92-94.

TVS Motor, VSNL, HeroHonda, Lupin, HUL look weak.

WEEKLY RECOMMENDATIONS:

SENSEX.
Sensex opened the week at 12284, made a high of 12284, made a low of 10239 and closed the week at 10527, thus registering a weekly loss of 1999 points. The indicators are now extremely oversold and we can expect a strong technical dead cat bounce. But by no means the bottom is confirmed. The Sensex has a likely target of 9895-9449. For the week ahead the Resistance is at 10746-10975-11405-11721. Support is at 10239-9951-9895-9449.

NIFTY.
Nifty opened the week at 3817, made a high of 3821, low of 3198 and closed the week at 3279. The weekly loss was 539 points. The OI PCR is a poor 0.73 and this suggest the markets are extremely oversold. Call writing is the order of the day as Call writing is increasing at the Nifty strikes of 3500-3600. The Nifty is following a Bearish Head and Shoulder pattern and is on the way to achieve target of 3041-2931. The 61.8% Retracement level of the entire Bull market is also at 2997.For the week ahead, the Resistance is at 3394-3505-3627. Support is at 3198-3119-3041-2997-2931.

THIS WEEK’S RECOMMENDATIONS:

SELL VSNL 417 SL 434 TGT 393-380.

SELL HERO HONDA 815 SL 842 TGT 793-785.

SELL PNB 460 SL 471 TGT 451-443-437.

SELL HUL 221 SL 231 TGT 213-200.

SELL LUPIN 621 SL 639 TGT 593-572.

08-OCT-2008

Market will open gap down. It is better to wait for higher levels to short than to short at the bottom levels. Markets will try and bounce from 3468-3430 levels.

Sensex Resistance 11866-11983-12068. Support 11501-11218-11058.

Nifty Resistance 3638-3658-3690. Support 3552-3537-3468-3430.

Sell ACC 591 SL 602 Tgt 579-562.

Sell L&T 1008 SL 1054 Tgt 982-972-930.

Sell MRPL 48 SL 50 Tgt 46-43.

Sell IndusInd 50 SL 51 Tgt 48-45.

Sell ICICI 485 SL 501 Tgt 464-442.

Sell HDFC 1950 SL 1981 Tgt 1928-1900.

Sell ABB 708 SL 721 Tgt 686-674.

Sell TCS 575 SL 590 Tgt 557-546.

Sell Bharti 748 SL 760 Tgt 728-714.

07-OCT-2008

Markets may open in positive in view of announcements of RBI and SEBI yesterday but the recovery will be difficult to sustain as Volatility will be very high. Recovery may be seen in Banking stocks.

Sensex Resistance 12043-12153-12284. Support 11733-11664-11578-11103.

Nifty Resistance 3673-3715-3790. Support 3560-3535-3430.

Buy BPCL 379 SL 367 Tgt 393-400.

Buy HPCL 240 SL 239 Tgt 250-255.

Buy ICICI 490 SL 473 Tgt 510-525.

Buy Union Bank 144 SL 141 Tgt 147-150-154.

Buy SBI 1433 SL 1421 Tgt 1459-1475.

Buy BoB 290 SL 284 Tgt 297-303.

Buy FSL 28.60 SL 27.10 Tgt 30.30-31.45-32.75.

Buy OBC 156 SL 153 Tgt 160-164.

Buy Tata Comm 461 SL 452 Tgt 473-483.

Buy Moser Baer 107 SL 103 Tgt 112-116.

Bharti, HCL Tech, RIL look weak.

WEEKLY CALL 06-OCT-2008 TO 10-OCT-2008

Market will show weakness below 3790. The fall will find some support at 3647-3638. This zone will be very critical as two important supports are coinciding.

Sensex Resistance 12569-12712-12822. Support 12418-12153-11875-11578.

Nifty Resistance 3848-3881-3919. Support 3738-3715-3682-3647-3617.

Sell L&T 1159 SL 1189 Tgt 1141-1099-1032.

Sell RIL 1761 SL 1805 Tgt 1729-1640-1502.

Sell Educomp 3136 SL 3185 Tgt 3072-3022-2980.

Sell Chambal Fert 50.45 SL 52.55 Tgt 47.20-45.00-41.00.

Sell Nag Fert 26.80 SL 28 Tgt 25.20-21.20.

Sell Punj Lloyd 267 SL 275 Tgt 255-247-240.

Sell Rel Cap 1063 SL 1119 Tgt 1021-1005-972.

Sell HDFC 2079 SL 2151 Tgt 2041-2000-1953.

Sell Infosys 1391 SL 1428 Tgt 1369-1320.

Sell Gail 393 SL 410 Tgt 386-371.

Sell Tata Power 887 SL 905 Tgt 875-843-818.

Buy BPCL 372 SL 368 Tgt 382-393.

Buy Hero Honda 888 SL 861 Tgt 908-924.

Buy HLL 256 SL 251 Tgt 262-265-275.

Buy Dr. Reddy 550 SL 533 Tgt 562-574-588.

03-OCT-2008

Markets will open lower and then expect sharp bounce only to face selling pressure at higher levels. The trend today will be highly volatile. The stocks that will remain in focus will be the banking stocks and the Nuclear deal positive stocks. It is advisable to sell at higher levels.

Sensex Resistance 13105-13208-13269. Support 12952-12822-12697.

Nifty Resistance 4024-4050-4093-4114. Support 3919-3861-3801.

Buy Punj Lloyd 291 SL 284 Tgt 301-306-311.

Buy Axis Bank 734 SL 722 Tgt 755-771.

Buy SBI 1504 SL 1475 Tgt 1545-1574.

Buy Maruti 700 SL 689 Tgt 713-725.

Buy JP Associates 118 SL 114 Tgt 124-128.

Buy HPCL 240 SL 235 Tgt 246-253.

Buy Tata Steel 438 SL 427 Tgt 454-467.

Buy PNB 494 SL 486 Tgt 501-508-514.

Buy BOI 290 SL 285 Tgt 297-304.