My Future Calls

RELINFRA spot (1240) has given a decisive close below 1260 with a surge in volume. It touched a low of 1225.
Its future lot size is 138, margin about Rs. 45000.

My call is to short June lot (LTP 1246) for a target of 1150. For better confirmation, one can wait till it goes below 1230 (fut).

Paresh

Those who got in this call around 1250 levels, got to see levels of 1165 in RELINFRA (fut). You can cash in around 1150 as per the original call, or better yet, keep bringing your Stop Loss level lower as I expect this stock to go further down to 1100 levels.

Paresh

Hope you had a nice ride all the way to 1100. Right now there appears to be a pullback rally of sorts, so tomorrow depending on the petrol price hike and other conditions, we may go long now in RELINFRA. Let's see..

Paresh

Well, RELINFRA June future went all the way to 1013 before pulling back with vengeance. But that's all it was, a pullback. This stock is unlikely to cross 1260 on the way up especially after the bloodbath in Dow of 400 points on Friday. If it goes below 1000 and sustains, one can short it for a target of 850 now.

RELINFRA (FUT) CMP 1097.20 SL 1130 TGT 1000, 850

UNITECH has also broken long-term support at Rs. 200. While it offers resistances at 230, 250; it is likely to go down to supports at 185, 160.

Because of a huge buildup in short positions, the markets are likely to be extremely turbulent, and only those with a vigilant eye on price movements should dare to trade with a strict stop-loss.

Paresh

RELINFRA (fut) touched a 1013 again, went up, then came down to 1005 before settling at 1040.55. UNITECH (fut) also moved to 185, then reluctantly moved further down to 183 levels before bouncing back up to 185.05.

If the market bounces up today (as it seems poised to), one should consider that another shorting opportunity in these two stocks with the earlier targets intact. I believe Sensex may bounce up to 15300 levels before commencing downward journey again. Rupee closing at 42.85 will give more push to IT sector, healthcare.

The ball will bounce around before coming to rest near 13700-14000 levels.

Paresh

RELINFRA(June Fut) - dipped below 1000 to go to 980 but was pushed up quickly and settled at 1013. Fut is trading at a premium. Later this week more US economic data is expected which we can assume may not be that positive. Our own inflation data does not look promising. So let the markets go up today. It would be a good bet to short RELINFRA(fut) now between 1060 - 1100(stoploss level). If however, it has difficulty going beyond 1030-40 levels and Nifty is going down it would be good to short. It seems to give 60-80 points move everyday with a negative bias. If it plays below 1000 for a good amount of time, then it is headed towards 850 support levels.

UNITECH(June Fut) - tried to go over 185, touched 187.50 eating everyone's stoplosses, dipped down to 174.80 then settled at 180. If it rises again today, let it. Then short as it is going below 185 from the top, 187.50 being your stoploss now. It is likely to head towards 160 levels as stated before.

ONGC was the major killer yesterday along with IT majors (profit booking) and Banks. With Rs. trading near 42.94 levels, I expected IT to do well but then lo & behold, stockmarkets move to the beat of unknown drummers (as always)! RIL and metal (STER, TATASTEEL, SAIL) were trying their best to prop the markets up. Healthcare held up its end of the bargain. Glenmark, Ranbaxy, Sunpharma etc. look good. What happens today? Late rally of yesterday may take it up in the morning. Global cues are 'okay' nothing terribly exciting. Bulls get exhausted fast enough, giving more shorting opportunities to Bears. Have a good shorting day.....

Paresh

RELINFRA(fut) - again touched 984 in the morning, then never looked back. Had trouble crossing 1030-40 levels but finally did it in the last hour of trade. Sensex near 15300 levels now. Watch for inflation data to make the next move. RELINFRA could move close to 1100, 1130, 1160, 1200, 1230 levels. Look for reversals from 1100 or higher levels with 30-pt stoploss.

UNITECH(fut) - took a lot of beating to reach 171 levels, then climbed back once IIP figures were announced. Once it crossed 185 successfully, went over 190 and finally closed at 189.20. Look for reversals from 200, 217, 230, 250 levels.

Paresh

The cues are not very good.
Crude is around $137, went up by $2 or something. Dow Jones has tanked and is nearly 12000 crucial level. Inflation number is not going to be good with June 7 figure being revised at 9.8% (as per poll by Reuters) etc. etc.

RELINFRA(fut) - as we thought it has reversed from 1130 levels. Would be a very good oppportunity to short. Short Term target is 925 once it goes below 1000 in a convincing way.

UNITECH(fut) - touched 211 yesterday and beat a hasty retreat to 200 indicating a lack of strength in the scrip. Short Term target remains at 160 - a good opportunity to short.

IDBI(fut) - touched 83, tried desparately to stay above waters but failed. As banks take a beating, IDBI will also slide down. Whether it again touches 72/3 levels remains to be seen. Better to stay away as the volume of trading is not very high.

Paresh

Well, well, well...RELINFRA met the target already, and UNITECH is trying hard to reach it now.

RELINFRA(CMP: 912.75) - Hit a low of 903.50 in futures. While a bounceback is possible in the short term as this is an expiration week for futures, this level does not bode well for the stock. If it fails to bounce out of 1000 levels, we should be revisiting 900 levels soon thereafter! Below 900, it could hit 850. One can safely enter long positions only if it sustains above 1350(spot) levels.

UNITECH(CMP:171.30) - Hit below 170 to touch 168.35. It is heading towards 160 levels. Tomorrow on Tuesday if it bounces up, it would be good to short it again around 177 (SL 180). This stock displays a volatility of about 15 points in a day so be cautious. Short July future which closed at 170.60.

Paresh

FWIW, the following are calls from Emkay brokers:

DATE	FUTURE	CALL	RECO PRICE	LOT SIZE	STOPLOSS	TARGET	CMP EOD 24/06/08	STATUS
23-06-08	Maruti July	Sell	700.00	200	751.30	600.00	689.00	open
23-06-08	Unitech July	Sell	171.00	900	184.60	147.00	171.30	open

Of course, Unitech would have to break 160 barrier first to go towards 147. I knew real estate sector is badly beaten down, but I guess there are people expecting much more downslide still.

Make hay while the sun shines....

Paresh