Nifty futures showed a sharp recovery after GDP data and has closed near to its major resistance level of 5900. It may take up move above 5900 level . One should take long position in it above 5900 level . Resistance for nifty future is at the levels of 5910 /5990 and support is at the levels of 5835/5750.

Resistance: It has first resistance close to the level of 5910 & after that it may face the next resistance close to the level of 5990.

Support: It has first support close to the level of 5885 & after it may get the next support close to the level of 5750.

Bank nifty futures bounced back after taking support of 12766 level . We can see some more up move from 12100 level if it manages above 12100 level, till 12350 level. Resistance for bank nifty futures is at 12100/12325 and support is at the levels of 11927/11750 .

Resistance levels:It has first resistance close to the level of 12100 & after it may face the next resistance close to the level of 12350.

Support:It has first support close to the level of 11925 & after it may get the next support close to the level of 11750.

The stock had taken support at lower levels and moved in an up rally thereafter. If it sustains above 142, some more northward movement is expected. One could go for buying on dip strategy if it sustains above the mentioned level.

SUPPORT - 148

RESISTANCE - 133

The stock took support at lower levels and moved in an up rally and gained approximately 3%. Now it faces resistance at 1400, crossing of this may take stock further upwards while it holds support at 1265.

SUPPORT 1400

RESISTANCE - 1265

The stock today was able to achieve our mentioned levels. It moved in an uptrend in today's trading session and gained more than 6%. It now faces resistance at 370; crossing of this level may take the stock further upwards.

SUPPORT -370

RESISTANCE - 330

The stock is moving sideways currently. It now faces resistance at 363 which is also all time high for the stock, crossing of this level may move it further in upside

else it may also bounce back. Also it faces support at 330. Until it crosses any of the level, either side movement in this range is expected

SUPPORT - 363

RESISTANCE -330

It is taking support at the level of 630, from the last few trading session it was moving in an uptrend but in today's trading session it was up by 1.99 % and closed above the 10 days and 50 days moving averages. It is looking positive in the coming trading session one can go for long position in it at 656 else it has

support at 630 below this level it would might face more selling.

SUPPORT -655

RESISTANCE - 630

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The stock has more downside. It has resistance at 800-820 levels and the short term target is in the range of 600-650. Sell on rise. The company’s sales are expected to grow in single digits and the margins are likely to be under pressure.

The charts show weakness in the stock. There is no major upside. A bounce back is likely but that will lead to more supply.The power sector has underperformed and the trend is likely to continue. Sell on rise at 95-96 levels.

The stock has been correcting for the last four quarters. It fell 22 per cent in the last week alone when the realty funding scam was exposed. There is a strong bear grip on the stock. There are no accumulation patterns or signs of a trend reversal. A dead cat bounce is possible. Sell in a staggered way.The outlook on the real estate sector is negative. The company has been battered by the realty funding scam. Sell in a staggered way on every rise.

The stock has been range bound between 600-750 in the last four quarters and has underperformed the markets. The stock’s outlook is negative over the medium term but it is a hold in the long term.The future outlook of the steel industry is good and the company is doing well. But the company’s outperformance comes from the power side where the company has done exceedingly well.

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Sensex gained 116 points to close at 19,521 and the NSE Nifty gained 33 points to close at 5,863. After staging a smart pull back in the previous trading session, the benchmark Indian stock indices extended gains after the second quarter GDP data came in ahead of most estimates.

The 50-share S&P CNX Nifty is trading at 5,827.60, after shedding 2.40 points or 0.04%.Nifty December futures saw an addition of 6.55% or 1.65 million (mn) units, taking the total outstanding open interest (OI) to 26.87 mn units.

In Nifty calls, 5900 strike price (SP) from the December series was the most active call with an addition of 0.28 mn or 6.69%.Among Nifty puts, 5700 SP from the December month expiry was the most active put with an addition of 0.40 mn or 6.73%. The maximum Call OI outstanding was at 5900 SP (4.28 mn) and that for Puts at 5700 SP (6.42 mn).The respective Support and Resistance levels are: Resistance 5,847.98 Pivot Point 5,808.17 Support 5,787.78.The Nifty Put Call Ratio (PCR) OI wise stood at 1.23 for December-month contracts.

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Nifty future showed a small pull back after sharp fall last week and closed above 5800 levels . If nifty future trades above 5900 level we can see some more upside movements in it. Resistance for nifty future is at 5910/6030 and support is at 5790/5725 .

Resistance: It has first resistance close to the level of 5910 & after it may face the next resistance close to the level of 6030.
Support: It has first support close to the level of 5790 & after it may get the next support close to the level of 5725.

Bank Nifty TomorrowBank nifty future traded in a range of 11950-11750 after sharp fall during last week. It closed near the day high. One should take position after proper break out on either side. Resistance for bank nifty future is at 11950 /12100 and support is at 11670/11500.

Resistance levels: It has first resistance close to the level of 11950 & after it may face the next resistance close to the level of 12100.
Support: It has first support close to the level of 11670 & after that it may get the next support close to the level of 11500.

The stock traded with negative sentiments today. It is below its 50 days moving average. It now faces next support at 968; if it manages to cross this level one may expect the stock to move till the levels of 945-940 in near run else it may also bounce back taking support at lower levels.

RESISTANCE - 1060

SUPPORT - 968

The stock consolidated in today's trading session. As we have mentioned for this stock that one may keep holding the short positions in the stock. It holds support at 1265, crossing of this level may bring some more downward movement in coming trading sessions and take the stock till the levels of 1220-1210 else it may bounce back taking

support at lower levels.

RESISTANCE - 1455

SUPPORT - 1265

The stock tried to take support at lower levels and took an up rally in today's trading session. If it sustains above the level of 2220, one may expect northward movement in it else it faces support at 2000, crossing of which may bring some more selling pressure in the stock.

RESISTANCE - 2290

Support - 2000

The stock consolidated in today's trading session. As mentioned earlier,it tried to take support at lower levels earlier last week and now facesresistance at 345, if it sustains above this level one may expect somemore northward movement in it.

RESISTANCE -345

SUPPORT -300

Dr.Reddy has bullish trend. The stock made a new 52 weeks high of 1814 in the today`s session the stock is looking good and above the immediate resistance level of 1820 the stock may continue the uptrend in the coming time.

RESISTANCE - 1820

Support - 1750

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The stock has been correcting for the last four quarters. It fell 22 per cent in the last week alone when the realty funding scam was exposed. There is a strong bear grip on the stock. There are no accumulation patterns or signs of a trend reversal. A dead cat bounce is possible. Sell in a staggered way.

The stock has been range bound between 600-750 in the last four quarters and has underperformed the markets. The stock’s outlook is negative over the medium term but it is a hold in the long term.The future outlook of the steel industry is good and the company is doing well. But the company’s outperformance comes from the power side where the company has done exceedingly well.

The stock is trading below its 200 day moving average. The uptrend seen in the stock in the last 6 quarters has been threatened. All the oscillators are in the negative and there are no signs of a bounce back.The stock is being driven by news flow so buy in a staggered manner. The valuations are cheap. The FY11 earnings estimates are Rs. 85.

Shares of the company gained Rs 55.1, or 2.62%, to settle at Rs 2,155.15. It touched a high of Rs 2,192 and a low of Rs 2,097. It is learnt that the company may offer a minority equity stake to a third technology partner in its proposed joint venture with Steel Authority of India (SAIL) to manufacture high-grade steel.

The momentum indicator like MACD indicates further weakness in the counter and a bounce till 2300 should be used to liquidate long position. Further correction in market could add fresh selling pressure in the counter which could drag the counter to its 200 DMA of 1920 level.

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The BSE Sensex was at 19,413, up 276 points from the last close. It earlier touched a day's low of 19,167 and a high of 19,437 after opening at 19,230.In the broader market, the BSE Small-Cap index and the BSE Mid-Cap index are up about 0.4% and 0.3% respectively.On the other hand, the NSE Nifty was up 84 points at 5,836 after touching a day's high of 5,835 and a days low of 5,754. It opened at 5,789.

The 50-share S&P CNX Nifty settled at 5,830.00, after garnering 78.05 points or 1.36%.Nifty December futures saw an addition of 4.48% or 1.11 million (mn) units, taking the total outstanding open interest (OI) to 26.04 mn units.

In Nifty calls, 6000 strike price (SP) from the December series was the most active call with an addition of 0.44 mn or 7.49%.Among Nifty puts, 5700 SP from the December month expiry was the most active put with an addition of 0.75 mn or 13.96%. The maximum Call OI outstanding was at 6000 SP (6.43 mn) and that for Puts at 5700 SP (6.12 mn).The respective Support and Resistance levels are: Resistance 5,863.87 Pivot Point 5,809.28 Support 5,775.42.

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Nifty future as expected saw a sharp fall below 5820 levels and closed near 5778 levels. Nifty future will face resistance at 5860 and 5920 levels. We recommend selling on higher levels till it closes below 5920 levels.support for nifty future is at 5700/5670 levels and has resistance at 5860/5920 levels.Overall sentiment is still weak and trend remains down and we strongly advise selling on higher sides but this time movement needs to be monitored above 5860.

Resistance: It has first resistance close to the level of 5850 & after it may face the next resistance close to the level of 5930.

Support: It has first support close to the level of 5710 & after it may get the next support close to the level of 5650.

Bank nifty future as expected saw a sharp fall below 11750 levels and closed near near 11718 levels. Bank nifty future will face resistance at 11950 and 12100 levels. We recommend selling on higher levels till it closes below 12100 levels. Support for bank nifty future is at 11440/11225 levels and has resistance at 11950/12100 levels.We still advise SELL on gains for the time being.

Resistance- It has first resistance close to the level of 11958 & after it may face the next resistance close to the level of 12185.

Support: It has first support close to the level of 11471 & after it may get the next support close to the level of 11212.

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The Nifty closed at 5751.95 in the last trading session losing nearly one percent. The Nifty futures premium has reduced to 26.20 points vs. 48.35 points leading to decline in the cost of carry by 43.72%. On the OI front the Nifty Futures open interest has declined more than 3.50%. Thus, this is indication that some long unwinding was witnessed in the last trading session. The Indian Volatility Index (VIX) has shown a rise of 4.39% indicating volatility has increased in the markets.

Stock Option Trend

On the call options front we have seen addition of open interest at strike price of 5800 and 6000. On the put options front we have seen addition of open interest at strike price of 5600. OI Chart Analysis: From the OI Chart we can see that in December Series addition of open interest on the calls front is seen at strike price of6000 indicating it as the Resistance on the upside whereas on the put options front we have seen addition of open interest at strike price of 5600 indicating it as good support on the down side.

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The stock is showing strength on the charts. It was in an overbought territory for some time. Hold with a stop loss of 145 which is also the 100 day moving average. Target 200. Banking stocks have been hammered and a de-rating is likely to happen to PSU banking stocks. IDBI's valuations are reasonable as compared to peers.

The company has been suffering from balance sheet and topline issues. However, the it has been bagging new orders and things have beginning to look up. Hold with a target of 60-65.A pull back rally cannot be ruled out as the stock is in the oversold zone. Exit on any rise.

It has recommended to buy the stock in Rs 160-166 range with target price of Rs 190-195. Broking firm has given positive and negative factors for IT stock. ITC operates in a diverse range of businesses and its multi-business portfolio includes - cigarettes and tobacco, hotels, information technology, packaging, paperboards and specialty papers, agri-business, foods, lifestyle retailing, education and stationery and personal care. Owing to its global presence and wide area of business segments, ITC is having lots of strategically placed subsidiaries and joint ventures. It has joint venture with ITC Filtrona and Maharaja Heritage Resorts

The strong Q2FY2011 performance of Bajaj Auto has led to an upward revision in their valuation for BHIL. They value BHIL based on their price target for Bajaj Auto and on the base case scenario for Bajaj FinServ and the other group companies on cost. Hence, they accord the stock a holding company discount of 50%. Furthermore, the company has cash and liquid investments worth Rs 58.05 billion on its balance sheet.In Q2FY2011 the consolidated top line of the company stood at Rs 4.268 billion as compared to Rs 2.10 billion in Q2FY2010.

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The BSE Sensex sank 181.55 points or 0.94% to settle at 19,136.61 (Provisional) while the S&P CNX Nifty dropped 49.55 points or 0.85% to end at 5,750.20.

The BSE Sensex touched a high and a low of 19,417.61 and 18,954.82 respectively. There were 9 advances against 21 declines on the index.

The 50-share S&P CNX Nifty is trading at 5,776.15, after shedding 23.60 points or 0.41%.Nifty December futures saw an addition of 5.63% or 1.46 million (mn) units, taking the total outstanding open interest (OI) to 27.38 mn units.

In Nifty calls, 6000 strike price (SP) from the December series was the most active call with an addition of 1.00 mn or 20.81%.Among Nifty puts, 5700 SP from the December month expiry was the most active put with an addition of 0.66 mn or 13.24%. The maximum Call OI outstanding was at 6000 SP (5.83 mn) and that for Puts at 5700 SP (5.71 mn).The respective Support and Resistance levels are: Resistance 5,846.32 Pivot Point 5,768.33 Support 5,698.17. The Nifty Put Call Ratio (PCR) OI wise stood at 1.35 for December-month contracts.

TCS up 2.17%, Cipla up 1.58%, SBI up 1.20%, Tata Power up 0.55% and ONGC up 0.54% were the major gainers on the Sensex. On the other hand, JP Associates down 8.26%, R Infra down 7.28%, R Com down 5.80%, Tata Motors down 3.61% and M&M down 3.23% were the major laggards on the index.

As we have already mentioned about the stock that it is trading with negative sentiments. It is below its 50 days moving average. It now faces next support at 968; if it manages to cross this level one may expect the stock to move till the levels of 945-940 in near run else it may also bounce back taking support at lower levels.

RESISTANCE - 1060

SUPPORT - 968

The stock today managed to reach our mentioned levels. It is now trading below its 50 days moving average. It now faces support at 133, crossing of this level may take down the stock till the levels of 128-125 in short term.

RESISTANCE - 148

SUPPORT - 133

The stock today crossed its support level and made a low of 1336.10. One may keep holding the short positions in the stock. It holds support at 1330, crossing of this level may bring some more downward movement in coming trading sessions and take the stock till the levels of 1310.

RESISTANCE -1535

SUPPORT - 1330

The stock is continuously moving in a downtrend from last few weeks. It's trading below its 10 days and 50 days moving average. We have already mentioned about the stock that one may go for sell on rise strategy until it crosses 2290 in upside and hold the short positions in this stock. It now faces support at 2100, crossing of which may bring some more selling pressure in the stock.

RESISTANCE - 2425

support - 2180

Today it moved slightly negative, it has immediate support at the level of 1175 if it crosses this level then it may indicate trend reversal , else it may continue its existing trend if it crosses it strong resistance of 1260.

RESISTANCE - 1330

SUPPORT - 1175

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There is not more clarity about the company’s fundamentals. Switch to TCS that has shown constant growth over the quarters. The stock has strong resistance at 90 levels which is also the 200 day moving average. There is no momentum in the stock and the intermediate trend is down as well. Switch to TCS.

The company has appointed a new CEO in China and is focussing on Asia. However, the news flow around the company is negative even though there is not much downside to the stock The weekly and daily trend is down and the stock is forming lower tops and bottoms on the charts. Book losses and exit from the counter. Target 48-44.

We have a contrarian call on this stock. It is trading at a very attractive valuation. The company is into paper, cement and electrical business. The paper division of the company suffered because there was water scarcity in the area. It is now back in full swing with the construction of a large water reservoir to take care of future water security. The cement division is also expected to do well on the back of pick-up in demand.

Bharat Heavy Electricals (BHEL) board of directors have given their approval for setting up of a new plant as "Power Equipment Fabrication Plant" at Latur, Maharashtra.Further, the Company has informed that board of directors have accorded their approval for forwarding the proposal for initiating the process of merger of Bharat Heavy Plate & Vessels , which is a wholly owned subsidiary with the Company to Department of Heavy Industry (DHI).

The Sensex closed at 19318, down 141 points from its previous close, and Nifty closed at 5799, down 66 points. The CNX Midcap index was down 2.4% and the BSE Smallcap index was down 1.7%. The market breadth was negative with advances at 221 against declines of 1087 on the NSE.

The BSE Sensex sank 107.67 points or 0.55% to settle at 19,352.18 (Provisional) while the S&P CNX Nifty dropped 42.90 points or 0.73% to end at  5,822.85.The BSE Sensex touched a high and a low of 19,628.27 and 19,257.37 respectively. There were 7 advances against 23 declines  on the index.

The 50-share S&P CNX Nifty is trading at 5,887.00, after adding 21.25 points or 0.36%.Nifty November futures saw an addition of 13.14% or 1.57 million (mn) units, taking the total outstanding open interest (OI) to 13.54 mn units.

For Nifty calls, 5900 strike price (SP) from the November series was the most active call with an addition of 2.17 mn or 44.44%. Among Nifty puts, 5900 SP from the November month expiry was the most active put with an addition of 0.61 mn or 11.55%. The maximum Call OI outstanding was at 5900 SP (7.06 mn) and that for Puts at 5900 SP (5.90 mn).The respective Support and Resistance levels are: Resistance 5,910.00 Pivot Point 5,884.10 Support 5,861.10. The Nifty Put Call Ratio (PCR) OI wise stood at 0.62 for November-month contracts.

Nifty future as expected saw a sharp fall below 5930 levels and closed near the days low near 5890 levels. Nifty future will face resistance at 5990 and 6060 levels. We recommend selling on higher levels till it closes below 6000 levels. Support for nifty future is at 5825/5760 levels and has resistance at 5990/6060 levels.

Resistance: It has first resistance close to the level of 5953 & after it may face the next resistance close to the level of 6046.

Support: It has first support close to the level of 5800 & after it may get the next support close to the level of 5740.

Resistance: It has first resistance close to the level of 12215 & after it may face the next resistance close to the level of 12560.

Support: It has first support close to the level of 11637 & after it may get the next support close to the level of 11404.

Buy Andhra Bank
At- 175.20
Tgt- 179.10,183.0,188.45
SL - 164.20

T & I Global Ltd. - Buy
At -  17.6
Tgt- 20.05,21.45
SL -  15.4

The Nifty closed at 5865.75. Nifty future (Nov.) closed at 5873.25 i.e. at a  premium of 7.50 points vs. 6.55 points and shredded -2917450 shares in open interest. The Nifty future (Dec.) closed at 5886.10 i.e. at a premium of 20.35 points vs. 28.75 points and added 4867600 shares in open interest.

Interpretation: The Nifty future prices ended in the red territory along with overall addition of open interest and increase in the cost of carry, this is an indication of some long built up at lower levels. The Historical Volatility of Nifty future is at 25.55% vs. 25.76% and the India Volatility Index (VIX) is at 24.68% vs.

23.26%. Nifty OI PCR is at 0.97 vs. 1.01 and the Volume PCR is at 1.11 vs. 1.08.

On the call options front we have seen addition of open interest in Dec. Series at strike price of 6000 and 6200. On the put options front we have seen addition of  open interest in Dec. Series at strike price of 5600, 5800 and 5900.

OI Concentration Chart Interpretation: From the OI Chart we can see that in Dec. Series addition of open  interest on the calls front is seen at strike price of  6000-6200 indicating it as the Resistance zone on the upside whereas on the put options front we have seen addition of open interest at strike price of 5800-5600 indicating it as good support zone on the downside.

ACC

RESISTANCE - 1060

SUPPORT - 968

AMBUJA CEMENT

RESISTANCE - 153

SUPPORT - 135

BAJAJ AUTO

RESISTANCE -1665

SUPPORT- 1545

BHARTI AIRTEL

RESISTANCE - 345

SUPPORT - 300

Orient Paper & Industries Ltd(Hold)
We have a contrarian call on this stock. It is trading at a very attractive valuation. The company is into paper, cement and electrical business. The paper division of the company suffered because there was water scarcity in the area. It is now back in full swing with the construction of a large water reservoir to take care of future water security. The cement division is also expected to do well on the back of pick-up in demand.

Mahindra & Mahindra Ltd(Hold)
Hold the counter with a stop-loss of 735. The stock has support at 740 and resistance at Rs. 800.

Suzlon Energy Ltd(Hold)
The company’s revival is far off. The debt levels are high. Sell at 53-54 levels. Most negatives have already been factored in the stock price. The stock is unlikely to go below 50 levels and the breakout is at 65-70 levels after which a target of 200-250 is possible in 3-5 years.

Karuturi Global Ltd(Hold)
The utilisation of flowers is expected to go up. The company’s revenue from exports is likely to grow by 30 per cent (YoY basis). Hold with a short term target of 35 The stock is likely to be range bound between 39-30 levels for 3-4 months. The stop loss is far off at 23.50 so sell.

The BSE Sensex sank 231.99 points or 1.18% to settle at 19,459.85 (Provisional) while the S&P CNX Nifty dropped 83.65 points or 1.41% to end at 5,851.10.

The BSE Sensex touched a high and a low of 19,835.57 and 19,375.92 respectively. There were 5 advances against 25 declines on the index.

The 50-share S&P CNX Nifty is trading at 5,951.15, after adding 16.40  points or 0.28%.Nifty November futures saw an addition of 11.31% or 1.68 million (mn) units, taking the total outstanding open interest (OI) to 16.57 mn units.

Nifty calls, 6000 strike price (SP) from the November series was the most active call with an addition of 1.11 mn or 17.20%.Among Nifty puts, 5900 SP from the November month expiry was the most active put with an addition of 1.44 mn or 23.59%. The maximum Call OI outstanding was at 6000 SP (7.62 mn) and that for Puts at 5900 SP (7.57 mn).The respective Support and Resistance levels are: Resistance 5,975.65 Pivot Point 5,952.15 Support 5,927.65.The Nifty Put Call Ratio (PCR) OI wise stood at 0.79 for November-month contracts.

M&M up 3.23%, Bharti Airtel up 1.17%, Tata Steel up 0.54%, ITC up 0.17% and Tata Motors up 0.11% were the only gainers on the Sensex.On the other hand, SBI down 3.71%, DLF down 3%, ICICI Bank down 2.73%, TCS down 2.73% and HDFC down 2.67% were the major laggards on the index. FMCG up 0.04% was the only gainers on the BSE sectoral space, while Realty down 3.34%, Bankex down 2.94%, PSU down 1.88%, CG down 1.43% and IT down 1.34% were the major laggards on the BSE sectoral space. 

Nifty future slipped below 5900 on the back of tension movement in Korea, closed near to its days high and maintained its range of 6057-5850 . If it manages to sustain above 6000 level ,we may expect its further up move from here . Resistance for nifty future is at 6030/6055 levels and support is at 5860/5811 levels. One should take future position.

Resistance: It has first resistance close to the level of 5995 & after it may face the next resistance close to the level of 6054.

Support: It has first support close to the level of 5847 & after it may get the next support close to the level of 5760.

The Nifty closed at 5934.75. Nifty future (Nov.) closed at 5941.30 i.e. at a premium of 6.55 points vs. 0 points and shredded -4996500 shares in open interest. The Nifty future (Dec.) closed at 5963.50 i.e. at a premium of 28.75 points vs. 30.10 points and added 6196600 shares in open interest.

Interpretation: The Nifty future prices ended in the red territory but recovered from lows along with overall addition of open interest and increase in the cost of carry, this is an indication of some long being built at lower levels. The Historical Volatility of Nifty future is at 25.76% vs. 25.99% and the India Volatility Index (VIX) is at 23.26% vs. 19.93%.

On the call options front we have seen addition of open interest in Dec. Series at  strike price of 6000 and 6200.

On the put options front we have seen addition of open interest in Dec. Series at strike price of 5600, 5800 and 5900.

OI Concentration Chart Interpretation: From the OI Chart we can see that in Dec. Series addition of open interest on the calls front is seen at strike price of 6000-6200 indicating it as the Resistance zone on the upside whereas on the put options front we have seen addition of open interest at strike price of 5800-5600 indicating it as good support zone on the downside.

As the November F&O expiry nears more volatile movements can be expected on Nifty. Counters like ACC and Gujurat Ambuja may witness more selling pressure, because these two stocks open interest has increased in the near month,  indicative of fresh shorts.  ACC has last support at Rs 998 and Gujrat Ambuja at Rs 141.  Movements below these levels can cause more pressure on these stocks. The moving average combination of 9, 50,100 have given a sell signal which can bring down the Nifty towards 5,755 in the short term.  The resistance for the Nifty will be at 5,944 and 5,971.

The market is now in a correction phase. The long term trend remains up. Nifty likely to face resistance around 6,000, if rallies. The market is likely to remain volatile in view of expiry of derivatives due on 25th November.

Shares of the company gained Rs 9.5, or 4.15%, to settle at Rs 238.55. It touched a high of Rs 249.70 and a low of Rs 227.50. The company plans to acquire 51% stake in South India-based Tebma Shipyards for Rs 757.5 million.

We recommend a Buy on Axis Bank, Union Bank of India and Bank of Baroda. Higher than expected slippages and increased provisioning for pension liabilities remain the key risks to our earning estimates

A Sebi committee on Tuesday recommended that only banks and public financial institutions could be anchor investors in bourses and restrict them from listing or making huge profits. The move could make it difficult for corporate entities to set up stock exchanges.

According to industry sources, the recommendations would make things difficult for FTIL group-founded new bourse MCX-SX, which is allowed to trade only in currency futures, and its plea for trading in equity and other segments has already been rejected by Sebi on non-compliance with shareholding and other norms.

In the report posted for public comments on Sebi website today, the committee suggested a minimum net worth of Rs. 100 crore for the stock exchanges and  allowing only banks and public financial institutions as the anchor or main investors.

Bharti Airtel Ltd. Opt:PA 340.00

Tgt- 13,15

For 3 Days

Unitech Ltd. - Buy ( 2 months )

At - 68.05

Tgt - 78.20,82.05

The BSE Sensex ended at 19,691, down 265 points from the previous close. It had earlier been as low as 19,342 after opening at the day's high of 19,841.

The NSE Nifty on the other hand lost 75 points to end at 5,934 after touching a day's low of 5,824. It had opened at 5,971 and touched a day's high of 5,973.

The 50-share S&P CNX Nifty settled at 5,934.75, after shedding 75.25 points or 1.25%. Nifty November futures saw an addition of 4.18% or 0.83 million (mn) units, taking the total outstanding open interest (OI) to 20.71 mn units.

For Nifty calls, 6000 strike price (SP) from the November series was the most active call with a contraction of 1.66 mn or 33.01%. Among Nifty puts, 5900 SP from the November month expiry was the most active put with a contraction of 0.18 mn or 2.81%. The maximum Call OI outstanding was at 6000 SP (6.71 mn) and that for Puts at 5900 SP (6.46 mn).The respective Support and Resistance levels are: Resistance 5,997.08 Pivot Point 5,911.02 Support 5,848.68.The Nifty Put Call Ratio (PCR) OI wise stood at 0.74 for November-month contracts.

Tata Power, SBI, Bharti Airtel, RCOM, Sterlite Inds, Hidalco, ACC, ONGC, ITC, Power Grid, SAIL, Suzlon, HDFC, IDFC, JP Associates, ACC, Ambuja Cements, Tata Steel, NTPC, ICICI Bank and Sesa Goa were among the major losers in the Sensex and Nifty. Maruti Suzuki, HUL, Sun Pharma and Bajaj Auto were among the notable gainers in the Sensex and the Nifty.

Nifty future traded in the range of 6057-5860 in the last two three trading session and has closed near the days high. Nifty future will face resistance at 6060 and 6150 levels. We recommend long position only above 6060 levels. Support for nifty future is at 5860/5800 levels and has resistance at 6060/6150 levels.

Resistance: It has first resistance close to the level of 6055 & after it may face the next resistance close to the level of 6101.

Support: It has first support close to the level of 5935 & after it may get the next support close to the level of 5861.

The Nifty closed at 6010. Nifty future (Nov.) closed at 6010 i.e. at a premium of 0 points vs. 0.15 points and shredded -3477850 shares in open interest.

The Nifty future (Dec.) closed at 6040.10 i.e. at a premium of 30.10 points vs. 30.55 points and added 3699400 shares in open interest.

Interpretation: The Nifty future prices ended in the positive territory along with overall over all addition of open interest and cost of carry being flat, this is an indication of some long being built at lower levels.

Resistance levels: It has first resistance close to the level of 12548 & after it may face the next resistance close to the level of 12691.

Support: It has first support close to the level of 12163 & after it may get the next support close to the level of 11921.

On the call options front we have seen addition of open interest in Dec. Series at strike price of 6100, 6200 and 6300. On the put options front we have seen addition of open interest in Dec. Series at strike price of 5900 and 6000.

OI Concentration Chart Interpretation: From the OI Chart we can see that in Dec. Series addition of open interest on the calls front is seen at strike price of  6100-6300 indicating it as the Resistance zone on the upside whereas on the put options front we have seen addition of open interest at strike price of 600-5900 indicating it as good support on the downside.

Buy Nifty 

At- 6205

Tgt-  6225,6240

Sl - 5978

POSITIONAL TRADER MAINTAIN SL @ COST AND KEEP HOLDING

TTK Prestige Ltd. -Buy

At - 1510

Tgt- 1514.20, 1518.45

Sl - 1498.10

UFLEX- BUY

At - 262.55

Tgt- 264.55 , 270.25

SL 252.55

NELCO - BUY

At 131.90

Tgt-  134.20, 136.45, 138.0

SL 125.10

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The stock is rangebound between 925-1185. It is in a downtrend in short to medium term. It has support at 950. Hold with a stop loss of 920.The earnings were good with the company reporting a 23 per cent growth in revenue. Buy at 950 levels with a target of 1350.

The stock is in a downtrend and is trading below its 200 day moving average. The short term averages are below the long term averages. The stock has strong support at 140 levels.The company’s 85-90 per cent business comes from the BFSI (banking, financial and insurance sector) sector which is doing well. It is trading close to the previous lows of 150 after correction. Buy with a target of 200 in medium term.

The stock has been an outperformer over the last week and is forming higher tops and bottoms on the weekly charts. The stock looks strong in the medium term. Hold with a stop loss of 1825 for a target of 2300. The stock has resistance at 2075 levels. Though bike sales are brisk, earnings indicate margin pressure. The stock has resistance at 2075 levels. Book partial profits and wait for dips to buy.

The Nifty, on its way up, faces strong resistance at 6,029 points. If the Nifty closes above this level, it would be the first indication of the beginning of a rally, which has a target of 6,187. At current levels, this means a gain of roughly 300 points. On its way down last week, the Nifty saw decent support at 5,864, which was very close to the level of 5,856 mentioned in my last column. Strong support for the Nifty has now shifted to 5,712.

The 50-share S&P CNX Nifty settled at 6,010.00, after accumulating 119.70 points or 2.03%. Nifty November futures saw an addition of 12.48% or 2.91 million (mn) units, taking the total outstanding open interest (OI) to 26.27 mn units. For Nifty calls, 6000 strike price (SP) from the November series was the most active call with a contraction of 0.87 mn or 14.64%. Among Nifty puts, 5900 SP from the November month expiry was the most active put with an addition of 0.47 mn or 6.87%.The maximum Call OI outstanding was at 6000 SP (5.12 mn) and that for Puts at 5900 SP (7.44 mn).The respective Support and Resistance levels are: Resistance 6,051.78 Pivot Point 5,978.47 Support 5,936.68. The Nifty Put Call Ratio (PCR) OI wise stood at 0.85 for November-month contracts.

Further, the key benchmark indices struck fresh day's highs in afternoon trade as firm cues from European markets and higher US index future boosted the investor's sentiment. In last hour of trade markets surged sharply and Nifty crossed 6,000 mark as significant buying was witnessed in front liners like Wipro, HDFC Bank,ONGC, DLF and Tata Steel. At the end, Sensex closed at 19,957.59 up by 372.15 points. It touched an intraday high of 19,989.02 and low of 19,641.42. Nifty ended at 6,010.00 up by 119.70 points. It made a high/low of 6,020.25 and 5,905.15 respectively.

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The stock has support at 305-285-256 levels and resistance at 350-378 levels. The long term trend on monthly chart is intact. Hold with a stop loss of 285 and a target of 440-450 in one year. The results were disappointing because of margins contraction. However, the company’s African operations are likely to play a major role. Hold with a target of 420-421.

Reliance Industries Ltd has informed BSE that the Crude Distillation Unit No.1 and Coker unit at the Jamnagar Refinery complex, which were under planned shutdown for carrying out maintenance activities from last week of October, 2010, has been safely restarted on November 17, 2010 and is operating satisfactorily. Avoid to buy till few days specially whole R group.Corp war is intensifying.

The stock has support at 92-77 levels. It is trading at a life time high and profit booking looks on the anvil which might bring down the stock to 115 levels. The long term trend is intact.The stock is trading at its 52 week high. The bank’s asset quality is an area of concern. The net NPA levels are high. The price to book ratio is low. Book profit and can shift to South Indian Bank, IDBI Bank or Karnataka Bank.

The stock has been an underperformer in the current market rally. It is making lower tops and bottoms on the charts and is trading below its 200 day moving average. The stock has not performed. The telecom sector as a whole has under pressure because of the CAG report. Shift to Idea Cellular.

The BSE Sensex plunged 345.20 points or 1.73% to settle at 19,585.44 (Provisional) while the S&P CNX Nifty sank 118.30 points or 1.97% to end at 5,880.50.The BSE Sensex touched a high and a low of 19,982.75 and 19,504.87 respectively. There were 2 advances against 28 declines on the index.

The 50-share S&P CNX Nifty is trading at 5,980.05, after losing 18.75 points or 0.31%.Nifty November futures saw an addition of 7.82% or 1.86 million (mn) units, taking the total outstanding open interest (OI) to 25.74 mn units. For Nifty calls, 6000 strike price (SP) from the November series was the most active call with an addition of 1.57 mn or 32.65%. Among Nifty puts, 5900 SP from the November month expiry was the most active put with an addition of 0.66 mn or 8.86%. The maximum Call OI outstanding was at 6000 SP (6.39 mn) and that for Puts at 5900 SP (8.18 mn). The respective Support and Resistance levels are: Resistance 6,018.90 Pivot Point 5,974.40 Support 5,935.55.The Nifty Put Call Ratio (PCR) OI wise stood at 0.88 for November-month contracts.

Among blue-chip counters, Hero Honda, Bharti Airtel, L&T and HUL were the only gainers on the BSE Sensex today. On the other hand, Reliance Infra, Hindalco Industries and Wipro were the major laggards on the index. 

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Sell - Hero Honda Motors Ltd. Opt:CA 1850.00 / 25 Nov

for 8 days

Tgt- 25

SL -95

ICICI Bank Ltd. Opt:CA 1180 -SELL ( 6-8 days )

Tgt- 1.50

SL - 22

Buy - Jindal Poly Films Ltd.( 1 week )

Tgt - 660

SL - 516

RISKY SHORT TERM DELIVERY CALL

BIOCON BUY

ABV 408

SL 400

Tgt - 414,426

Nifty future closed near to its resistance of 6050 level after a volatile session on flat note. Nifty future face resistance of 6120/6150 and has support at the level of 5975/5925. Nifty future sustain above 6080 level we can see more up move for here. One should take position after proper break out.

Resistance: It has first resistance close to the level of 6086 & after it may face the next resistance close to the level of 6137.

Support: it has first support close to the level of 5955 & after it may get the next support close to the level of 5875.

Bank nifty future was volatile in last trading session . We can expect slight up move from 12520 levels. Bank nifty future manages 12520 levels and we can see some more up move from here. Resistance for bank nifty 12520/12660 and support is at 12225/12005

Resistance: It has first resistance close to the level of 12673 & after it may face the next resistance close to the level of 13021.

Support: It has first support close to the level of 12097 & after it may get the next support close to the level of 11008.

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Bharti Airtel has emerged as the largest mobile service provider in India and now it has undergone an image makeover with its brand new logo. This new logo will not only regenerate the popularity it has already attained in India but also emphasize its newly found international recognition. The company website introduced the logo and explained the thought that went into creating this new identity. They revealed that this new logo was crafted keeping the global audience in mind which demands much more. Despite being more dynamic, it retains its original charm which has helped the brand become a “market leader”.

One of the biggest telecom service providers in India, Airtel on Thursday launched the new company logo, marking the company’s 200 million customer milestone. The new Airtel Logo features more curves and lighting effects compared to the old sharp-edge Airtel logo. The new logo is suppose to give the company identity a new youthful and dynamic look, signifying the company’s innovative advancement in the telecom industry, not only in India, but across the Globe.

Market updates

Shipping Corp share sale opens Nov 30, closes Dec 3

Mumbai power outage: Power goes out across Bandra to Mira Road

Board approves setting up of 250 MW power plant: GAIL

BPCL shuts Mumbai crude unit, catalytic cracker for a month

The stock has been an underperformer in the current market rally. It is making lower tops and bottoms on the charts and is trading below its 200 day moving average.The stock has not performed. The telecom sector as a whole has under pressure because of the CAG report. Shift to Idea Cellular.

The results have been good but there are doubts over execution capabilities as cost and time overruns can impact margins. Shift to IRB infra that has emerged as the preferred company in 2-3 states. It has good margins and a robust order book. The stock has made a double top on the daily chart at 380 levels. It has broken the key support of 328 and can test lower levels of 280.

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The BSE benchmark ended at 19930.64, up by 65.50 points or 0.33% and NSE Nifty closed down by 10.10 points or 0.17% to end at 5998.80.After a good start, the Sensex and Nifty suddenly turned sharply lower in mid morning trade and spent most of the day gyrating between gains and losses.

The 50-share S&P CNX Nifty is trading at 6,005.90, after gaining 17.20 points or 0.29%. Nifty November futures saw an addition of 5.11% or 1.27 million (mn) units, taking the total outstanding open interest (OI) to 26.20 mn units. For Nifty calls, 6000 strike price (SP) from the November series was the most active call with a contraction of 0.39 mn or 7.87%.

Among Nifty puts, 6000 SP from the November month expiry was the most active put with a contraction of 0.72 mn or 9.62%.The maximum Call OI outstanding was at 6000 SP (4.62 mn) and that for Puts at 6000 SP (6.79 mn).The respective Support and Resistance levels are: Resistance 6,085.82 Pivot Point 5,996.28 Support 5,916.37.The Nifty Put Call Ratio (PCR) OI wise stood at 0.93 for November-month contracts.The top five scrips with highest PCR on OI were Bank of Baroda 15, Sun Pharma 7.64, Jain Irrigation 2, ACC 1.26 and PNB 1.48.

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Buy Punjab National Bank 

At - 1333.50

Tgt- 1334.45,1336.20

SL - 1329.50

Sell ONGC for 5 Day

Above - 1288.0

Tgt-   1279.25,1265.20

SL- 1302.10

Nifty future's projected high and low for next session is 6064 and 5905. Immediate resistance now comes at 6005 and only if sustains above 6005 on next session opening bell will try to check 6060-6084 on the upside. Big support band exists at 5976-5966-5943 and if no bounce emerges in the band we may even see 5916-5827 in the coming sessions. We still feel Nifty future is going to consolidate between a broder range of 5950-6350 for some time.

Bank Nifty future's projected high and low for next session is 12695 and 12310. Resistance now comes around 12635 and only sustainance above with good volume is ripe for a dead cat bounce till 12840. Major support now comes near 12540-12490 and if can not cross 12635 and again trades below 12490 more panic awaits for 12330. Now in case even it breaks 12330 with volume?? Next downside levels ate 12000.

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Contesting the claim of Comptroller and Auditor General, Anil Ambani group company Reliance Communications on Tuesday said it had no shareholding in Swan Telecom at the time of the grant of licence to it or any time thereafter.

"Our group had no shareholding in Swan Telecom (now Etisalat DB) at the time of grant of licence to them or any time thereafter, and that issue is accordingly not relevant to our company," RCom said in a statement.

Highlighting irregularities in 2G spectrum allocation, the CAG has said that Swan Telecom, one of the companies that got the licence, appeared to act as a "front company" on behalf of Reliance Telecom and doubted the latter's "intention".

Reliance Communications, the company statement said, has always been in full compliance with all applicable laws, rules and regulations, and there has been no violation of our licence conditions at any stage on account of cross-holdings in excess of 10 per cent.

Vedanta Resources is hoping to raise $1.1 billion from listing its Zambian copper subsidiary on the London Stock Exchange, the firm confirmed on Tuesday.

The company, also listed on the London Stock Exchange, had previously announced that it was looking into a potential listing of Konkola Resources, the holding company of Chingola, Zambia-based KCM in which it holds a 79.4 per cent stake.The proceeds will be used to fund its capital expenditure programme and repay some loans from, and liabilities to the company's shareholders, which include ZCCM Investments, a Euro-Next listed company of the Zambian government.

“We look forward to seeing tremendous growth in the company in the coming years, in what is undoubtedly one of the most attractive commodities and one of the premium destinations for copper production,” Mr Anil Agarwal, chairman of the group, said.

The Sensex, which tumbled to 19,832, ended at 19,865.14, a loss of 444.55 points. The Nifty closed at 5988.70, down 132.90 points.

The 50-share S&P CNX Nifty is trading at 5,990.45, after plunging by 131.15 points or 2.16%.Nifty November futures saw an addition of 8.37% or 2.08 million (mn) units, taking the total outstanding open interest (OI) to 27.03 mn units.

For Nifty calls, 6100 strike price (SP) from the November series was the most active call with an addition of 1.32 mn or 25.38%.Among Nifty puts, 6000 SP from the November month expiry was the most active put with an addition of 0.16 mn or 1.94%. The maximum Call OI outstanding was at 6100 SP (6.56 mn) and that for Puts at 6000 SP (8.51 mn).The respective Support and Resistance levels are: Resistance 6,097.20 Pivot Point 6,037.30 Support 5,930.55.The Nifty Put Call Ratio (PCR) OI wise stood at 0.96 for November-month contracts.

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HCL Technologies Ltd

Buy At- 401.85

Tgt - 406.70,408.15

SL - 400.15

Buy DELTACORP for Tomorrow

At- 133.10

Tgt- 135.20,137.85,141.10

Sl - 127.05

Buy - Shopper's Stop Ltd.

At- 696.40

Tgt- 703.45,706.20

Sl - 688.40

Hold Federal Bank

At- 455

for Tgt- 505-515

Small term investmnet

Buy Bhel Future(125) 25 Nov

At- 2401.25

Tgt- 2406.55,2409.70

Sl - 2387

Nifty future as expected was holding above the 6050 levels and closed near the days high near 6140 levels. Nifty future will face resistance at 6180 and 6240 levels. We recommend buying at lower levels till it hold above 6050 levels support for nifty future is at 6050/5980 levels and has resistance at 6180/6240 levels.

Bank nifty future as expected was holding above the 12500 levels and closed near the days high near 12790 levels. Bank nifty future will face resistance at 12920 and 13050 levels. We recommend buying at lower levels till it hold above 12500 levels. I has a support for 12650/12500 levels and has resistance at 12920/13050 levels.

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Maruti Suzuki India Ltd Hold
The company is the market leader in automobiles and has launched diversified models. The long term outlook for the counter is bullish as the long term oscillators are rising. However, there is weakness in the short term. The stock has support at 1405-1370 levels. Hold with a stop loss of 1370.

TVS Motor Compony Hold
The stock had a good rise from a low of 30 in February this year to a high of 93. However, profit booking looks on the anvil and the stock might come down to the support levels of 60-48-40.The two wheeler segment is likely to perform but the market is overvalued at this time so wait for correction to buy.

Mahindra Satyam posts profit Report

Mahindra Satyam (formerly Satyam Computer) on Monday announced that it has registered a net profit of Rs. 98 crore for the first quarter and Rs. 23 crore for the July-September period this fiscal.

For the fiscal second quarter ended September 30, net profit shrunk to Rs. 23.30 crore on sales of Rs. 1242 crore. Its other income for the second quarter stood at Rs. 31.3 crore.Revenue for the first quarter stood at Rs 1,248 crore. In the subsequent three-month period, the revenue was reported at Rs 1,242.40 crore. The headcount for the company for the second quarter was 28,068.In September this year, the company had announced its audited financial results for the two fiscals 2008-09 and 2009-10.

For the quarter ended June 30, the company reported profit of Rs. 97.50 crore, on revenues of Rs. 1248 crore.

Hold Federal Bank
At- 455
for Tgt- 505-515
Small term Investmnet

The BSE Sensex climbed 132.35 points or 0.66% to settle at 20,289.24 while the S&P CNX Nifty advanced 48.60 points or 0.80% to end at 6,120.25.

The BSE Sensex touched a high and a low of 20,335.51 and 20,046.60 respectively. There was 11 advance against 19 declines on the index.

Nifty Future Daily Report - Derivative Review

Nifty, the fifty stock index after getting off to a flat start in the early moments of trade is currently trading near the high point of the day a tad below the crucial 6,100 mark. Investors look calm and overlooked the wholesale price index (WPI) inflation numbers which stood nearly flat at 8.58% for the month of October compared with 8.62% for the previous month.
The 50-share S&P CNX Nifty is trading at 6,095.10, after adding 23.45 points or 0.39%. Nifty November futures saw an addition of 3.83% or 0.93 million (mn) units, taking the total outstanding open interest (OI) to 25.31 mn units.

For Nifty calls, 6100 strike price (SP) from the November series was the most active call with an addition of 0.91 mn or 18.55%.Among Nifty puts, 6000 SP from the November month expiry was the most active put with an addition of 0.34 mn or 4.28%.The maximum Call OI outstanding was at 6100 SP (5.87 mn) and that for Puts at 6000 SP (8.34 mn).The respective Support and Resistance levels are: Resistance 6,113.70 Pivot Point 6,076.55 Support 6,057.95.The Nifty Put Call Ratio (PCR) OI wise stood at 1.00 for November-month contracts.

Cipla up 4.43%, SBI up 4.41%, M&M up 3.30%, HDFC Bank up 3% and Tata Steel up 1.79% remained the major gainers on the Sensex.
On the other hand, DLF down 1.68%, NTPC down 1.38%, Reliance Infra down 1.37%, Maruti Suzuki down 1.04% and ACC down 0.99% were the major laggards on the index.

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