Market remains firm in a choppy session

Firm global markets helped the Indian stocks score gains in a choppy
trading session. Stocks were volatile as traders rolled over positions
in the derivatives segment. The market edged higher in early trade.
After moving in a narrow range for a while, the key indices hit fresh
intraday highs in mid-morning trade. BSE Sensex closed at 20303, up
137 points and the Nifty was at 6105, up 40 points. High beta metal
and realty stocks showed some momentum. Consumer durables, cement and
auto stocks also were up. Most Asian markets climbed on expectations
that further monetary easing by the US Federal Reserve would boost
liquidity in the region.



According to a data, the trade deficit narrowed to USD 9.12 billion in
September 2010 from a 23-month high of USD 13.06 billion in August
2010. Exports in September 2010 rose an annual 23.2% to USD 18.02
billion, while imports for the month grew 26.1% on the year to USD
27.14 billion.


Technical Analysis
Sensex Intraday Support levels:
Support 20136-19940 Resistance 20460-20516
Nifty Intraday Support levels:
Support 6053-6022 Resistance 6159-6187

Sector & Stocks
Select stocks for the auto, shipping and banking segment are positive.
MLL, Century Textile, M&M and OBC are positive.

1) OBC LCP Rs.500.75, buy at Rs.498 stop loss Rs.490 target Rs.512-515
trading period 3-5 trading sessions.
2) Buy Century Text LCP Rs.517.10 stop loss Rs.510 target Rs.530
trading period 3-5 trading sessions.


Futures n Options
Nifty Futures Outlook -
Nifty opened gap up and choose to remain up throughout the session.
Indian VIX closed at 21.36.
Nifty is expected to see correction in the coming sessions.
Nifty 6000, 6100 and 6200 Put witnessed heavy writing.
Nifty 6000 Call witnessed long unwinding.
Transport sector witnessed good gains led by MLL and GE Shipping.
Cement sector witnessed buying led by India cement, ACC and Ambuja
cement.
Sugar witnessed sweet gains led by Renuka Sugars.