Lucarative Intraday calls for Dec15, 2008

• BGR ENERGY looks attractive with good buyers, Buy above 147.50with sl 144 Upside movement till  155 >> 159 
  
• ROlTA has accumulated buyers after being weak for the day till now ..... watch it .........!!!!
  
•  SAIL moving higher with good buying volumes, Buy @ 86.50 sl 83.25 uptrend till 89 >> 91.50
  
• Unitech up with huge Volumes >> track it and buy above 37.75 with a sl of 35 uptrend till 40 >> 41.25
  
• CAIRN INDIA moving with huge volumes, Buy above 168 with a sl of 165 for an uptrend till 171.75 >> 173.50
  

Market Commentary on Dec15, 2008

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

NIFTY:
Resistance: 2954 - 2990 - 3005 - 3030/3059
Support : 2899 - 2880 - 2856 - 2801 - 2745

View: Nifty bounced from lower levels after a big gap-down & closed almost flat on Friday, DEC12, 2008.
Today watch out for 2990, above it if sustained we may see an upswing upto 3030. On downside 2856 is good support, below This level we experience a fall till 2803 >2745.
We advice to Start booking and BTST & longs that were built on Friday, we have discounting all bad news & moving up. Reliance has given big moves in recent sessions. Its now near resistance of 1375.

Major events in in this week:-

• Announcement of the Advance tax data, which will give a idea of 3rd quarter quarter reasults.
• US fed two days meeting is going to start today, Expecting to cut rates @ 0.75% basis points. (+ve for financial stocks).
• OPEC meeting on production cut is expected tomorrow ( positive for OIL refinery stocks mainly Cairn and essaroil),
• Rupee is aaprociating against dollar, which can lead to more dollar inflow in india economy ( -ve for TCs and Infosyts mainly),
• Indian Government can announce some more fiscal package ( mainly for Reality sector, +ve for DLF and HDIL) !!! Buy at dips with a stop loss of 2840 !!!!

Today's BUZZZZZ on the IIP DATA 12th Dec 2008

IIP data negitive than expected

The IIP (Index of industrial Production) numbers for the month of October 2008  has been announced.

The data realeased had recorded the growth Rate @ (-) 0.40%  Versus 4.8%  fot  themonth of september 2008, month-on-month basis and 12.22% YOY

• Manufacturing output also turned into negative of 1.2% versus 13.8%
  
• The consumer goods also came in negative of 2.3% as against 13.7%.
  
• Mining output was up 2.8% versus 5.1% and capital goods output up 3.1% versus 20.9% (YoY). 
  

Market breadth recorded a mixed trend; about 1067 shares have advanced while 1063 shares have declined. Nearly 1070 shares are unchanged.