Lucarative intraday calls - Dec16, 2008

• NTPC looks attractive with buyers building in it , Buy above 171 sl 166 for an uptrend till 175 >> 182 (can also take delivery)
• Buy HCC @ 47.50 sl 45.25 for an up trend till 50 >> 52 >> 55 (can also buy and hold for delivery)
• Buy HDIL @ 132.50 sl 129 for an uptrend till 138 >> 140.5 >> 144 
• GAIL very weak on buying volumes, Sell Below 218 witha sl @  222 for a down trend till 212 >> 209
  

Trading Ranges for Dec16,2008

NIFTY-FUT - INTRADAY  levels  watch for - 2981 

BUy above 2990 witha  stop loss at 2963 uptrend till  -3011-3032-3051-3070-3097.

Sell below 2954 downtrend till -2931 -2910 -2892-2880

RELIANCE 

Buy above 1341 with a stop loss of 1323 for an uptrend till -1363-1375-1388-1420.

Sell below 1324 witha sl at 1335 downtrend till -1311-1305-1289-1256-1224. 

REDINGTON 

Buy above 112 witha stpoloss at 106 for an up trend till 118 >> 121.50 >> 125 

Sell Below 104 witha a stop loss at 107.50 downtrend till 100 >> 97 >> 94.50

Market overview , Dec16'2008

Good Morning..........!!!

Welcome to a New Trading Day in India.

The Last trading day has shown good amount of resiliance in the trading range of 2850- 3000 levels in NIFTY.

The US markets traded weak on monday with the speculations that the 2 day interest rates cut will b below the expectation, thereby closing the US (DOW and NASDAQ composite) , the latin American and the European Markets pretty lower.....

The weak sentiments of the WEST again saw a replica in the ASIAN Markets, with the NIKKEI, the KOSPI , HANGSENG and the SHANGHAIi opening WEAK... 

Todays' tradeing session wiill be a real test for INDIAN markets, which are overpowering every bad news  and gaining strength at all intraday LOWS with the FIIs And DIIs contributing to the buying sentiments.

According to us Nifty on Dec16,2008 shall open marginally lower and trade volatile in a trading range whole day but the 2952 stands a a strong level, if NIFTY sustains velow this level we may test lower levels till 2915  - 2885, Uptrend can only b expexted above 3095 levels and close above this will give a good support for the short term.