intraday calls
Todays Intraday Calls/Market Update
US markets rose on the anniversary of the 2009 bear-market low for the Standard & Poor’s 500 Index amid speculation the economy will continue to recover from the worst contraction since the Great Depression. The Dow Jones, S&P 500 and NASDAQ gained 0.11%, 0.17% and 0.55%, respectively. American International Group Inc. surged 13% on speculation the insurer will sell more assets. United Technologies Corp., General Electric Co. and AT&T Inc. led gains in the Dow Jones Industrial Average. Boeing Co. advanced after Northrop Grumman Co. withdrew as a bidder for a US Air Force contract.
• US & European markets FLAT , Nasdaq closed
18 months high
• Asian market opened FLAT.
• SGX nifty up 13 points.
• Dollar index is below 80.61
• Gold at $1122 and crude below $ 81.23
• London future up 4 points.
• Dow future UP 1 points at 8 am
INTRADAY CALLS
NIFTY SUPPORT 5071
RESISTANCE 5153
RELINFRA
Buy above 1019
SL 1012
Targets 1029,1035
Or if trades near 1002
Short RELINFRA
SL 1009
Targets 992,986
M&M
Buy above 1134
SL 1127
Targets 1144,1150
Or if trades below 1114
Short M&M
SL 1121
Targets 1104,1097
ACC
Buy above 1002
SL 995 Targets 1012,1018
Or if trades near 989
Short ACC
SL 996
Targets 979,973
MARUTI
Above 1500
Target : 1530-1550
Stoploss: 1478
Duration : In 1-2 Days
Likely out performer of the day : MAHINDRA FORGING
ROLTA FUTURE (Last close 186.85)
The stock after consolidation closed flat with marginal gain yesterday. The stock remains and appears positive on charts and may move up to 190/193 once it trades and remains above 187.75. Strong support for the stock exists at 183.25.
TCS FUTURE (Last close 768.75)
The stock of the IT giant after remaining range bound during the past four trading sessions closed yesterday marginally higher with positive bias. The stock appears positive on charts and may move up to 775/779 once it trades and remains above 770.25. Strong support for the stock exists at 764.50.
Today’s Intraday calls and Market Outlook
US markets ended mixed, after American International Group Inc. announced the USD 15.5 bn sale of a unit and Sprint Nextel Corp. said it expects revenue growth in the next several quarters, overshadowing a drop in drugmakers. The Dow Jones and S&P 500 fell a marginal 0.13% and 0.02%, respectively, while NASDAQ climbed 0.12%. AIG climbed 3.6% after agreeing to sell its American Life Insurance Co. unit to MetLife Inc. McDonald’s Corp. gained 2.3% after global sales topped estimates. The Standard & Poor’s 500 Index fell for the first time in seven days, led by health-care stocks, after President Barack Obama embarked on a final push to overhaul the medical industry.
SBI had increased the authorized capital, the Government was amending the SBI Act and planning to sell a 4% stake in it. And by George, SBI just flew of the handle and took Nifty along with it to hit the day’s high at 5145.
So, in short:
NIFTY RANGE of today: 5070-5175.
• US & European markets closed flat.
• Asian market opened flat.
• SGX nifty up 18 points.
• Dollar index is above 80.
• Gold at $1123 and crude at $ 81.56.
• London future up 1 points at 8 am.
• Dow future down 14 points at 8 am
Intraday Calls:
BUY NIFTY ABOVE 5108 TGT 5127-5135-5165182 SL 5093
SELL NIFTY BELOW 5127 TGT 5108-5098-5073-5053 SL 5141
Every dip is a buying opportunity as long as it holds 5040 levcl.
Watch out for 5115,5090 and 5060 levels.
NATIONALUM
Sell Below 397.50
Target: 391-388
SL: 402
Sell Sesagoa Fut
Around 432.50
Target: 428
SL 436
Shortterm Calls
ROLTA
TARGETS 191-195-201.60
STOPLOSS OF 179.80
Likely Outperformer:
Look to buy CALS Refinery @ around .55 to .60
Can be an outperforming stock
Todays Intraday Tips And Nifty Outlook
TECHNICAL VIEW
CLOSE@5088
PREVIOUS HIGH@5093 LOW@5015
WEEKLY HIGH@5093 LOW@4783
20DMA@4858
50DMA@5014
200DMA@4749
SUPPORTS FOR 04/03/2010 5022/4933
RESISTANCE FOR 04/03/2010 5111/5166
Nifty(Spot)
If Nifty(spot) trade above 5100 then there can be some more uptrend upto 5130 – 5165,
If Nifty(spot) trade below 5050 then some profit booking can be seen in the market upto 5000
Intraday Calls :
RELIANCE
Buy near 1020
SL 1013 Targets 1030,1035
Or if trades below 995
Short RELIANCE
SL 1002
Targets 985,980
MCDOWELL-N
Buy near 1437
SL 1430
Targets 1447,1453
Or if trades below 1397
Short MCDOWELL-N
SL 1404
Targets 1387,1380
JSWSTEEL
Buy near 1142
SL 1135
Targets 1152,1160
Or if trades below 1110
Short JSWSTEEL
SL 1117
Targets 1100,1094
Stock Tips For Today
If we take Fibbo level from 5300 to 4530, the correction that happened now touched 23.6% at 4700 and bouncing back.
The short trade on Saturday turned (a bit) good and closed above 4750, which in sense indicates a bounce till 38.2% level pegging at 4827. So longers can have an initial target as 4827 and if Nifty sustain at that point, we can see a bounce till 4914
If Nifty reverse from 4850 level, then the immediate target will be 4620 and selling pressure at those level will make the slide still deeper to 4530 and 4250.
Nifty may face resistance at 4790 and 4830 and 4852.
On the down side support at 4738 and 4721 are crucial once these are breached a new low is possible.
Intraday Calls
DLF(CMP.314)
BUY ABOVE 316 SL.311 TRGT.318,321,326
SELL BELOW 311 SL.315 TRGT.308,305,300
HDFC BANK (CMP.1572)
BUY ABOVE 1585 SL.1572 TRGT.1596,1601,1612
SELL BELOW 1568 SL.1582 TRGT.1560,1545,1540
HDIL (CMP.309)
BUY ABOVE 320 SL.317 TRGT.335,341,350
SELL BELOW 307 SL.320 TRGT.295,280,275
Buy CENTURYTEX
Around 475-477
Target 484-486
Stoploss 472
Stock Calls For Today
The market witnessed profit taking in the closing minutes whereby, it pared most of its earlier gains and finally closed the session with marginal gain with Sensex at 16912 and the Nifty at 5042. Meantime, U S stocks turned mixed yesterday after the Federal Reserve left interest rates unchanged, saying market conditions were helping the recovery but weakness will persist. The DOW in turn slipped in the negative territory after the announcement with the NASDAQ remaining in the positive. Back home, the market appears to be moving in a choppy way trying to find a trend but remains undecided.
NIFTY FUTURE (Last close 5040.70)
The counter after flat opening yesterday moved range bound till mid afternoon session when a sudden buying in IT, auto, and pharma pulled up the NF to day’s high but it remained short lived and the market slipped in the red. However, a sharp recovery in the closing minute saw the NF moving in the positive territory. The counter finally closed in the positive with marginal gain. The counter appears to be consolidating at current levels and may make an up move once it trades and remains above its weekly resistance at 5061.75, whereby it may move up to 5087/5116. Strong support for the NF exists at 5017.25 which if breached with volumes then NF may slide to 5001/4977.
BUY NIFTY AT-5078 SL- 5057 TARGET- 5104-5130 ……….
SELL NIFTY AT- 5000 SL- 5021 TARGET- 4970-4940 . — Bearish View
Cairn
looking good to go long on short term view.
Target 290+.
SAIL
getting good support at 207,
medium term it can target 221 to 236.
