WORLD MARKET WATCH

WORLD MARKET WATCH
US stocks surged with Dow jumping back above the 9,000 level, as investors welcomed talk of a second economic stimulus plan and an improvement in key lending rates. The Dow Jones industrial average (INDU) added 413 points which translated into a 4.7% gain. Standard & Poor's 500 (SPX) index gained 4.8% and the NASDAQ composite (COMP) added 3.4%. Crude oil is currently trading at $75 a barrel and Gold is at $802.5 an ounce. European stocks rose for a second session as oil shares surged, while banks gained on signs of thawing in inter-bank lending and the possibility of a second U.S. stimulus package. Britain's FTSE 100 index rose 5.4 percent, Germany's DAX rose 1.1 percent and France's CAC added 3.6 percent. Asian stocks climbed, led by producers of consumer goods and commodities, on optimism the U.S. and Japan will expand efforts to stimulate the economy. Japan’s Nikkei 225 gained 2.59%, Hong Kong’s Hang Seng rose 0.55% and China’s SSE Composite is marginally in the green. Treasury Secretary Henry Paulson is Expected to deliver a speech on the state of US economy today. The speech might give indications of the contours of a second stimulus package.

MARKET TODAY

Today market is expected to open in a narrow positive gap and move in a zig zag manner. For Sensex the Critical level is 10265 where as for Nifty 3135 and market has to sustain above this to avoid further selling pressure. The first resistance for the day is at 10415.However on upside the strong Resistance is there at 12575.Below the Critical level again weakness can expect which may move market towards the downside supports at 10190 and 10050.

NSE / BSE Today 21st October 2008.

NSE / BSE Today 21st October 2008.

10538 & 3276 crucial resistances to watch out for.

Break below 10006 & 3050 fresh selling will underway.

9843 a crucial support to watch out in further panic.



BSE index: (10223) Consider 10289 a nearest & 10376 a solid resistance, keep stop loss of 10538 to your sales.
Downward side watch out for nearest support at 10006 break below it'll fall down to 9843 which is a most crucial support.
Break below 9843 fresh selling will underway & it'll fall down heavily to 9705, 9508 & 9191.
Upward side crossover above 10538 it'll turn bit positive & surge up correctively to 10857 & 11053 which is a most crucial resistance & trend decider.


Nifty Future: (3150) Consider 3187 a nearest & 3211 a crucial resistance, keep stop loss of 3276 to your sales.
Downward side 3050 a crucial support break below which fresh selling will underway & it'll fall down to 2937 & 2858-2843.
Upward side crossover above 3276 it'll turn positive & surge up to 3405, 3442 & 3473.


STOCKS TO WATCH TODAY

DLF: (273) Looks weak. Selling on higher levels will be seen.

RIL: (1322) 1390 & 1281 crucial trend deciders.

REL CAP: (658) 675 a crucial hurdle to watch out for.

RCOM: (232) Crossover above 254 heavy short covering will be seen.


REL INFRA: (482) 522 & 539 hurdles to watch out for.

BHEL: (1096) 1081 a crucial support & trend decider for the day.

HDFC Bank: (1085) 1113 & 1130 crucial hurdles to watch out for.

Stock Recommandation for this Week

RIL: (1305) Expect further panic down to 1241, 1189 & 1153-1103.

REL PET: (103) 92 a crucial support to watch out for in panic.

REL CAP: (603) Expect 540-515-484 initially. Consider 515-484 crucial supports.

RCOM: (234) 214 & 204-197 crucial supports to watch out for in panic. Bounce back from lower levels not ruled out.


REL INFRA: (490) Watch out for 453 & 426-419 in panic.

ADLABS: (200) 188, 175 & 165 supports to watch out for in panic.

SBI: (1414) Expect 1334 & there after to 1281 & 1194.

HDFC Bank: (1024) Looks weak, expect 989 initially & there after real further panic not ruled out.

ICICI Bank: (392) Break below 375 expect 340 which is a crucial support.

NTPC: (150) Looks weak.

BHEL: (1195) Break below 1150 it'll fall down to 1092; cover your shorts around 1092.

L&T: (799) 764, 741 & 702 supports to watch out for in further panic.

TISCO: (248) Expect 230, 217 & 197 in panic.

JSWSL: (248) Break below 240 further fall will be seen.

DLF: (291) Break below 279 real panic will start.

Nifty Sensex This Week

The week that went by
The Sell-off is continuing. The stock market indices across the globe fell drastically in the week went by. The economic turmoil is spreading to
Europe and economy of Iceland reported to be the first causality. The meeting of the Financial Chiefs ohttp://www.blogger.com/img/gl.bold.giff the G-7 nations decided to take every
steps to overcome this situation.
The steps taken by the Central Banks across the globe to flood the financial markets with liquidity has failed again. The RBI cut the CRR by a
huge 150 basis points in 2 stages during the last week to 7.5% from 9%; however, this also failed to lift the sentiments. NSE Nifty lost 538
points (14%) from the previous week’s closing and settled at 3279.95; Sensex closed at 10527.85, losing 1999 points (16%).

Technical Outlook :
The market has reached the first Technical Target of 3400-3200 levels from the Correction which started from the all-time high of 6357. Now,
some recovery can be expected from these levels in the coming days.
The Stochastic Oscillators is indicating a positive divergence, even though the direction is not confirmed yet.
At current levels, 3200 can be regarded as the Critical Support level for the NSE Nifty. If sustains above this some recovery can be
expected in the market, which can extend towards the first resistance of 3600, followed by 3750.
A failure to sustain above 3200, however, will possibly target the index towards 3000 levels and further towards 2750 levels in the
immediate future.
For BSE Sensex 10250 range is a strong support zone. If fails to sustain above this, the index will target the downside support zone of 9500.
The downside support for the coming week is expected to be 8900. The upside resistance will be 11695, followed by 12500.

FEDAI – NSE WORKSHOP ON CURRENCY FUTURES

National Stock Exchange Released a press Note as follows :


FEDAI – NSE WORKSHOP ON CURRENCY FUTURES

OCTOBER 21, 2008
Venue :
National Stock Exchange,
NSE Auditorium,
Exchange Plaza,
Bandra Kurla
Complex, Bandra (East),
Mumbai : 400 051.

Currency Futures trading was inaugurated at the National Stock Exchange, by the Hon. Finance Minister, Shri P. Chidambaram on August 29, 2008.

Since then the markets have shown significant activity. A diverse range of users, such as Banks, importers, exporters, broker-dealers, corporates, retail investors now have access to the Currency Futures market and can effectively use the trading platform for hedging, arbitrage, taking an exposure towards the currency movement etc. While the product is new, we are still witnessing an active interest from market participants. With more education and awareness about the product, the depth of the Currency Futures Market would only grow in future.

NSE is please to organize a workshop on Currency Futures jointly with FEDAI :

Venue : National Stock Exchange,
NSE Auditorium, Exchange Plaza, Bandra Kurla
Complex, Bandra (East), Mumbai : 400 051.
Date : October 21, 2008 (Tuesday)
Time : 4:30 pm to 7:30
Entry to the workshop is Free, but on a first come first serve basis as seats are limited.
Those interested to attend the workshop may kindly send a mail to : pbanerjee@nse.co.in
for registering themselves. The mail should contain their :
1) Name
2) Full Address, Telephone No., Mobile no.
3) E-mail Id.
Based on the availability of seats, a return mail would be sent to participants registering for the
seminar confirming their registration. Participants are requested to take a print out of the mail and
bring it with them for the workshop.
So please register early. Seats are limited.
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For more details log on to National Stock Exchange Official Website http://www.nseindia.com for CURRENCY FUTURE