Below 2740 levels, more weakness. Above 2830 levels, trend positive. Tight range. From last 16 session, we are trading in 2880-2680 range.
Nifty has Strong Support 2745,2710 Resistance 2830,2868

BUY NIFTY SPOT Ab 2782 SL 2860 TGT 2803-2819-2833-2857
SELL NIFTY SPOT Be 2753 SL 2771 TGT 2737-2724-2705

SELL HINDUNILVR Be 263.5 SL 266 TGT 261,256,252
BUY RPL Ab 83 SL 80.25 TGT 84.5,86.7,89.2
HOLD RCOM,SUZLON WITH STRICT SL 154,41.5 Resp.

Yesterday Nifty Made a High of 2831.7 our TGT was 2830.

INTRADAY CALLS For 3 FEB

BUY NIFTY Spot Ab 2780 SL 2860 TGT 2797-2813-2830
SELL NIFTY Spot Be 2745 SL 2767 TGT 2724-2713-2691

RCOM HOLD WITH STRICT SL 154 TGT 165,170,176
BUY SUZLON AROUND 44.5 SL 41.5 TGT 47.8-51-55

Nifty has Strong Support 2745,2720 Resistance 2820,2850

BUY NIFTY SpotAb 2880 SL 2857 TGT 2897-2913-2930
SELL NIFTY Spot Be 2850 SL 2874 TGT 2824-2803-2781

Short Term Delivery Call
Buy Rcom Around 169-170 SL 165 TGT 176-181-185-193

OPTION TRADING
BUY DLF 160 FEB PA Around 12-15 SL 9 TGT 22-26-29
BUY RCOM 170 FEB CA Around 15-17 SL 12 TGT 21-23

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जयहिंद!

जन गन मन अधिनायक जय हे

भारत भाग्य विधाता !

पंजाब सिंध गुजरात मराठा

द्राविड उत्कल बंग !

विन्ध्य हिमाचल यमुना गंगा

उच्छल जलधि तरंग !

तव शुभ नामे जागे , तव शुभ आशीष मागे
गाहे तव जयगाथा !

जन गन मंगलदायक जय हे

भारत भाग्य विधाता !!

जय हे ! जय हे ! जय हे !

जय जय जय जय हे !!

जयहिंद!!!

Thou are the ruler of the minds of all people, dispenser of India's destiny.
The name rouses the hearts of Punjab, Sind, Gujurat and Maratha. Of the Dravid and Orissa and Bengal.
It Echoes in the hills of Vindhyas and Himalayas, mingles in the music of Yamuna and Ganga and is chanted by the waves of the Indian Sea.
They pray for your blessing and sing thy praise. The salvation of all peaople is thy hand, thou dispenser of India's destiny. Victory, Victory, Victory to thee.


The Jana Gana Mana was composed by Shri Rabindranath Tagore and first sung at the Calcutta session of the Indian National Congress on December 27th, 1911. It was adopted as the National Anthem of India on 24th January, 1950 by the Constituent Assembly. The first stanza( out of five stanzas) of the song forms the National Anthem.

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Fiscal Package Part - II - Key Factors

# Govt eases ceiling on ECB borrowings as part of the second stimulus package.

# IIFCL allowed to raise Rs 30,000 crores via tax free bonds.

# Recapitalize PSU banks by Rs 20,000 cr in two years.

# Custom exemption on zinc and ferro alloys has been withdrawn

# NBFCs in infrastructure sector can access ECBs.

# FII investment limit in corporate bonds raised from 6 billion to 15 billion dollars.

# Govt extends tax incentive scheme for exporters up to Dec 31.

# State governmnet allowed to market borrowing of 0.5 per cent of GDP.

Intraday Calls for 29 Dec

BUY Ongc Ab 645 SL 637 TGT 670 688

BUY Satyam Ab 138 SL 134.65 TGT 143 148

BUY Renuka Ab 65 SL 63.5 TGT 69 72

Here's wishing all a merry christmas and happy new year 2009!

OPEC makes deepest oil cut ever to rescue prices

OPEC makes deepest oil cut ever to rescue prices

ORAN, Algeria (Reuters) - OPEC oil ministers agreed their deepest oil cut ever on Wednesday, slashing 2.2 million barrels per day from oil markets in a race to balance supply with rapidly crumbling demand for fuel.

The 12 members of the Organization of the Petroleum Exporting Countries were also aiming to build a floor under prices that have dropped more than $100 from a July peak above $147 a barrel.

The cut, effective from January 1, comes on top of existing reductions of 2 million bpd agreed by OPEC at its last two meetings. It lowers the group's supply target to 24.845 million bpd.

"I hope we surprised you -- if not, we have to do something about it, said OPEC President Chakib Khelil, host of the conference.

Oil fell more than $3 toward $40 following the deal, after weekly U.S. data showed inventories in the world's biggest consumer continued to swell.

A deepening recession has battered world demand and fuel inventories are bulging worldwide. Prices already have plunged by two-thirds since the summer and analysts say the oil market is under the sway of world financial turmoil.

"The world economy is driving the price more than anything OPEC can do at this stage," said Gary Ross, CEO of consultancy PIRA Energy. "It will be hard for the cuts to have any traction with regard to price in a deteriorating economic environment."

OPEC's president said the group would do its utmost to ensure new restraints were strictly enforced.

"I can tell you it's going to be implemented and it's going to be implemented very well because we do not have a choice," said Khelil, also Algeria's energy minister.

"If not, the situation is going to get worse."

Saudi Arabia, the world's biggest oil exporter, has led by example -- reducing supplies to customers even before a cut has been agreed to help push prices back toward the $75 level Saudi King Abdullah has identified as "fair."

"The purpose of the cut is to bring the market into balance and avoid the gyrations of the price," said Saudi Oil Minister Ali al-Naimi. "The cut may lead to higher prices or may not."

The cut, the third this year, brings a total reduction in OPEC supply to 4.2 million bpd, nearly a five percent cut in world oil supplies. OPEC is due to meet again on Mar 15.

FEELING THE PAIN

Oil below $50 is uncomfortable for all producing nations, but especially for OPEC members Venezuela and Iran which are dependent on higher prices to fund ambitious domestic programs.

It is hoped that a sharp supply cut will set oil on the path toward $75.

"You must understand the purpose of the $75 price is for a much more noble cause," the Saudi Oil Minister said. "You need every producer to produce and marginal producers cannot produce at $40 a barrel."

"Therefore we believe that $75 is probably more conducive to marginal producers to continue so we don't have a shortage in the market and we avoid the future sky-rocketing of prices."

Analysts said a limited recovery in prices would put a bit more strain on a recessionary global economy, but it may help pull the world back from the brink of deflation -- a growing source of concern.

The influential Saudi Oil Minister clearly outlined the kingdom's route to lower production.

It is pumping 8.2 million bpd against 9.7 million bpd in August. Saudi Arabia's implied output target is about 8.477 million bpd under existing OPEC curbs.

To have a lasting price impact, any OPEC deal must to be strictly observed.

According to independent observers cited in OPEC's monthly report on Tuesday, the group's compliance in November to existing cuts was only just over 50 percent.

Analysts said deeper cuts would further test discipline in the group. That restraint would be needed to slim down growing world oil stocks.

OPEC has encouraged other producers to cut back too. Russia and Azerbaijan are attending the Oran meeting as observers and have said they could rein in exports in future, but stopped short of am immediate pledge.

Leading a high level delegation, Russia's Deputy Prime Minister Igor Sechin said in a speech to OPEC that Moscow did not plan to join in coordinated output cuts and did not want to join the group.

(Additional reporting by Simon Webb, Katya Golubkova and Alex Lawler in Oran, Randy Fabi in Abuja, writing by Peg Mackey, editing by William Hardy) (Source : Yahoo Finance)

BUY PUNJLLOYD AROUND 150 S.L 140 TGT 165-178-185

BUY CHAMBLFERT ABOVE 32 S.L 29.25 TGT 38-42.2-47

BUY RELIANCE ABOVE 1127 S.L 1080 TGT 1218-1287-1308

SELL INFOSYS IF CLOSING BELOW 1200 S.L 1260 TGT 1087-1045-985

SELL RELIANCE IF CLOSING BELOW 1150 S.L 1220 TGT 1090-1027-935

SELL ICICIBANK BELOW 415 S.L 442 TGT 370.5-355

SELL PUNJLLOYD BELOW 197 S.L 210 TGT 178.8-165.5

Option Strategies

1). Bull spread: :

when the market is expected to go up (bullish outlook) a bull spread can be created to make profits in rising market with minimum amount of risk. Bull spread is created by buying a call/put of lower strike price and selling another call/put of higher strike price.

2). Bear spread:

When the market is expected to go down (bearish outlook) a bear spread can be created to ensure profits in a falling market with minimum amount of risk. Bear spread is created by buying a call/put of higher strike price and selling another call/put of lower strike price.

3). Bottom straddle or Straddle purchase:

when the market is expected to be volatile and the direction of it is not clear bottom straddle strategy can be created. Bottom straddle can be created by buying a Call and a Put together of the same strike price and same expiry date.

4). Top straddle or Straddle sell:

when the market is expected to move in a sideways zone a top straddle can be created. Top straddle can be created by selling a Call and a Put together of the same strike price and same expiry date.

5). Butterfly Spread:

when the market is expected to move in a sideways zone a Butterfly spread can be created. Butterfly spread can be created by buying two call options, one with low strike price and the other with comparatively high strike price, and selling two call options having the strike price which lies in the middle of above two strike prices and which is close to the current prevailing market price.

6). Strangles:

when the market is expected to be volatile and the direction of it is not clear bottom straddle strategy can be created by buying a call of higher level and buying a Put of lower level. Both of these price levels of buying Call & buying Put forms the basis of ranges of Index beyond which it is expected to remain. If the prices remain outside the price range he makes profit otherwise loss.

7). Strips:

when the market is expected to be volatile and the direction of it is not clear bottom strips strategy can be created by buying a call and two puts of same strike price. Investor makes profit if the exercise price close far from the strike price of Call and Put taken.

8). Straps:

when the market is expected to be volatile and the direction of it is not clear bottom straps strategy can be created by selling two calls and a put of same strike price. Investor makes profit if the exercise price close far from the strike price of Call and Put taken.

A FEW GOOD REASONS TO USE A STOP LOSS

1. Using a stop loss forces you to identify the risk of your trade you must not enter a trade without knowing the risk.
2. A stop loss works best when it is set at the point where the reason for the current trade disappears.
3. Using correctly, a stop loss will reduce risk more than it will reduce profits.If you are stopped out be sure you have a plan for reentering the next trade.
4. A stop loss is not likely to save you in a price shock, but you might get lucky.
5. A stop loss lets you sleep better.
6. Done correctly a stop loss is like the cost of insurance you dont mind paying, but dont want to collect ..........So please dont trade without stop loss.