Strategies for the day
Date Company View Strategies Action Risk Reward04-11-2009 HINDUNILEVER BULLISH BUY CALL 280 CA @ 4.00 2000 4000
NOV EXPIRY
SL : 2 TGT : 8
Wednesday, November 4, 2009
Bullish call
04-11-2009 HINDUNILEVER BULLISH BUY CALL 280 CA @ 4.00 2000 4000
NOV EXPIRY
SL : 2 TGT : 8
Daily Trading Tips..
Market Insight
Nifty October futures on yesterday opened negative with a gap of 53 points following the global cues. Nifty futures opened at 4654.3 and made a day’s high at 4734.9 levels making an intraday low of 4531.55 then finally closed near day’s low at 4536.25 levels. All the sectorial indices closed in negative with sustained selling pressure through out the day. Realty index closed down by 9.76%. Metal index closed down by 5.95%. Oil & Gas index closed down by 4.1%. Power & IT indices closed down by 3.45%. Capital Goods index closed down by 3.2%. PSU & Teck sector
indices closed down by 2.65%. FMCG index closed down by 2.57%. Consumer Durables index closed down by 2.48%. Banking index closed down by 1.93. Bhartiartl, Maruti, Sunpharma etc. were only the sensex gainers. Hindalco, DLF, JPassociate, Sterlite, Acc, Relinfra, Reliance, Relcomm, Tatasteel, Wipro, SBI, Hindunilvr, Herohonda, M&M etc. were the sensex losers.
The Nifty has a support at the 4492 followed by 4419. The resistance levels to watch would be 4683 followed by 4802. The support levels for the SENSEX are at 15171 followed by 14938. The resistance levels to watch would be 15798 followed by 16191. Intraday or short term calls should be followed with very strict stop loss with support level. Sensex Nifty Close 15,405 4,564.
Daily Tips
SUNPHARMA
Execution Price Range Stop Loss Target
Buy Between Rs 1380 to 1400 1365 1438
ICICIBANK
Execution Price Range Stop Loss Target
Buy Between Rs 781 to 795 774 818
Market Outlook On Tuesday S&P CNX Nifty opened negative taking cues from global markets then sustained on higher levels near the support of 4700 levels for some time but later on witnessed heavy selling pressure across the board during later part of the day and finally closed near day’s low levels. Today Global markets are positive and our market also looks highly oversold and this may be reason of some pullback in the market. Technically, 4550 is now the support for nifty if it sustains this level then short term buying interest may emerge in the market due to short covering and because of that Nifty may touch 4700-4720 levels.
CIPLA
Execution Price Range Stop Loss Target
Buy Between Rs 285 to 295 280 310
Nifty October futures on yesterday opened negative with a gap of 53 points following the global cues. Nifty futures opened at 4654.3 and made a day’s high at 4734.9 levels making an intraday low of 4531.55 then finally closed near day’s low at 4536.25 levels. All the sectorial indices closed in negative with sustained selling pressure through out the day. Realty index closed down by 9.76%. Metal index closed down by 5.95%. Oil & Gas index closed down by 4.1%. Power & IT indices closed down by 3.45%. Capital Goods index closed down by 3.2%. PSU & Teck sector
indices closed down by 2.65%. FMCG index closed down by 2.57%. Consumer Durables index closed down by 2.48%. Banking index closed down by 1.93. Bhartiartl, Maruti, Sunpharma etc. were only the sensex gainers. Hindalco, DLF, JPassociate, Sterlite, Acc, Relinfra, Reliance, Relcomm, Tatasteel, Wipro, SBI, Hindunilvr, Herohonda, M&M etc. were the sensex losers.
The Nifty has a support at the 4492 followed by 4419. The resistance levels to watch would be 4683 followed by 4802. The support levels for the SENSEX are at 15171 followed by 14938. The resistance levels to watch would be 15798 followed by 16191. Intraday or short term calls should be followed with very strict stop loss with support level. Sensex Nifty Close 15,405 4,564.
Daily Tips
SUNPHARMA
Execution Price Range Stop Loss Target
Buy Between Rs 1380 to 1400 1365 1438
ICICIBANK
Execution Price Range Stop Loss Target
Buy Between Rs 781 to 795 774 818
Market Outlook On Tuesday S&P CNX Nifty opened negative taking cues from global markets then sustained on higher levels near the support of 4700 levels for some time but later on witnessed heavy selling pressure across the board during later part of the day and finally closed near day’s low levels. Today Global markets are positive and our market also looks highly oversold and this may be reason of some pullback in the market. Technically, 4550 is now the support for nifty if it sustains this level then short term buying interest may emerge in the market due to short covering and because of that Nifty may touch 4700-4720 levels.
CIPLA
Execution Price Range Stop Loss Target
Buy Between Rs 285 to 295 280 310
USD/INR DAILY
Forex
Dollar rose by 40 paisa against the Rupee as the pair touched Rs.47.45/USD amid global pressure on equity market arising out of Europe on news that some of the top banks may further require stimulus packages to survive. Nifty fell by 147 points or 3.14% as it closed the day at 4563 levels. Commodity linked stocks like Oil and Gas as well as basic materials were the key sectors that spearheaded the fall. Panic gripped the markets on announcements that Royal Bank of Scotland may need more taxpayer funds despite U.K government announcing a £33.5 billion bailout package for the bank, the biggest of its kind in the world. Dollar rose against European currencies after this news with EURUSD making a panic bottom of 1.4620 while GBP touched 1.6260 against the dollar. The international factors were significant enough to turn a blind eye to domestic trade data which was better than previous month. India’s export declined the least this year s economy recovery in U.S and Europe boosted demand for the countries products. Exports dropped 13.8% in September from a year earlier to $13.6 billion after sliding 19.4% in August. While imports dropped by 31.3% in September as compared to drop of 32.4% in August. We feel a pullback in equity markets will lead to some weakening in USDINR pair with 47.20 acting as a crucial support for the pair in intraday.
Dollar rose by 40 paisa against the Rupee as the pair touched Rs.47.45/USD amid global pressure on equity market arising out of Europe on news that some of the top banks may further require stimulus packages to survive. Nifty fell by 147 points or 3.14% as it closed the day at 4563 levels. Commodity linked stocks like Oil and Gas as well as basic materials were the key sectors that spearheaded the fall. Panic gripped the markets on announcements that Royal Bank of Scotland may need more taxpayer funds despite U.K government announcing a £33.5 billion bailout package for the bank, the biggest of its kind in the world. Dollar rose against European currencies after this news with EURUSD making a panic bottom of 1.4620 while GBP touched 1.6260 against the dollar. The international factors were significant enough to turn a blind eye to domestic trade data which was better than previous month. India’s export declined the least this year s economy recovery in U.S and Europe boosted demand for the countries products. Exports dropped 13.8% in September from a year earlier to $13.6 billion after sliding 19.4% in August. While imports dropped by 31.3% in September as compared to drop of 32.4% in August. We feel a pullback in equity markets will lead to some weakening in USDINR pair with 47.20 acting as a crucial support for the pair in intraday.
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