03 November- 2011-Indian Market outlook:-

Indian equities are expected to get a  opening down on back of negative global cues and remain volatile due in latter session.
Technically nifty as an intraday resistance at 5290-5216 - levels and Support is seen at 5249- 5164levels.
The SGX nifty is trading down by 39 points at 5234
Curcial support is seen at 5157
FII's were net sell rs 8 cr in case market  (2-01-11)


5057 -5128- 5240 - 5301- 5372 - 5402- 5457- 5488- 5546- 5576

Market may open with a negative bias and is expected to trade lower, minor recovery is expected in the second half.

SENSEX (17464)

Sensex has resistance at 17525 and 17610. Support at 17412, 17383, 17322 and 17177.

NIFTY (5258)

Resistance at 5269 and 5301. Support at 5248, 5232, 5223, 5210 and 5167.

RECOMMENDATIONS

1)     TUBE INVESTMENT (140.25)

   Support at 137 and 132. Resistance at 142 above 145 and more. (Buy at declines)

2)     STONE INDIA (27.2)

Support at 26.1 below 24.75. Resistance at 28.5 above 30 and 33. (Buy at declines)

3)     BHARTI AIRTEL (384.45)

Resistance at 388 above 392.4. Support at 380 below 374 and 370. (Expect sideways movements)

4)  BERGER PAINTS (106)

  Support at 103 below 99.9. Resistance at 107 above 109.5 and 112. (Buy at declines)

5)     BPCL (626.5)

   Resistance is there at 632 above 638 and 646. Support at 618 below 612. (Buy at declines for short term)  

DERIVATIVE STRATEGIES

   

SELL SESAGOA FUTURES AROUND 211 LEVELS

        

SELL DLF FUTURES AROUND 240 LEVELS