Call for 17th july

RESEARCH-Nifty(FUT) R-4280/4335/4430 S-4235/4180/4135;Sensex(CASH)
R-14435/14625/14950 S-14305/14115/13980;MARKET OUTLOOK:VOLATILE

9:46 AM 7/17 RESEARCH: MARKET OUTLOOKn the F&O front, The NIFTY futures trading at a discount of 6.55 points against spot market suggesting weak sign. The NIFTY July futures open interest has declined by 1.83 percent with negative cost of carry. This indicates squaring-off of old positions and lack of any new positions might result in a sideways or weak trend in the market. The NIFTY Put Call Ratio is suggesting range bound market. Considering above said factors, NIFTY seems to have limited upside from current levels. If NIFTY breaks above 4305 on daily closing basis, investors are advisedto go long on NIFTY as fresh long positions can be expected to build up in the July futures contract; until then trade cautiously as NIFTY would remain volatile. Above 4305 levels, it can move towards 4362 and 4382

9:48 AM 7/17 RESEARCH-Global Market (in %): DOW JONES (+1.11%), S&P 500 (+0.86%), NASDAQ (+1.19%), FTSE (+0.35%), DAX (+0.58%), NIKKEI (+0.53%), HANG SENG (+1.34%) & SGX NIFTY (+28 POINTS)

11:23 AM 7/17 RESEARCH: INTRADAY CALL (FUTURES): NIFTY BROKEN OUR FIRST TGT 4330

RESEARCH: OPTIONS STRATEGY: LONG STRANGLE ON ITC: BUY 230 CALL @ 3.75 BUY 210 PUT @ 1.95. UPPER BEP = 235.70, LOWER BEP = 204.30. MAXIMUM PROFIT = UNLIMITED, MAXIMUM LOSS = RS. 6412.50. HOLD IT FOR ONE WEEK.

(7/17/2009 12:40:37 PM): RESEARCH: EUROPEAN MARKET UPDATE : FTSE(+0.6%), DAX (+0.9%), CAC (+0.7%)