Markets For 28-05-2008

Nifty rollover was at 43% while Marketwide rollover was at 40%.
Net addition was of 50 lakh shares in OI. Short build continued in Nifty futures.

May Futures were at 8 points discount and June futures were at 15 points discount.

Put writing was seen at 4800 level.

Nifty 4900 put shed 3.8 lakh shares in OI;
Nifty 4800 put added 1.2 lakh shares in OI;
Nifty 5000 call added 6.3 lakh shares,
4800 calls added 3.8 lakh shares,
4900 calls added 1.6 lakh shares in OI

NIFTY = continuous trade & close abv 4940 spot may trigger short covering . .Maximum NF can touch 4775- 4725, just panic selling...

BUY RANBAXY@498 STOP LOSS@495 TARGET@505

BUY AISHWARYA TELECOM@111 STOP LOSS@106 TARGET@126

SELL RPL IN FUT 176 SL 178 TAR 173 171 ... ( Weak Below 180.5 In FUTURE)

SELL PRAJ IND RISE UP TO 185 SL 187 TAR 180

SELL NEYVELI BELLOW 137.5 SL 139 TAR 135

SELL MUNDRA 878/79,SL-890,TGT-846/820

SELL BAJAJHIND 193/94,SL-197,TGT-186/181

SELL DLF 597/98,SL-604,TGT-587/577

SELL GSSAMERICA 323/324,SL-329,TGT-307/295

SELL SBI 1485/86,SL-1500,TGT-1441/1410

SELL VIDEOCON 368/70,SL-375,TGT-355/345

SELL RELIANCE CAPITAL ,SL 1320

IFCI LOOKS WEAK, IF TRADES BELOW 60.

JP HYDRO LOOKS WEAK BELOW 63-61.5

TTML FALLS BELOW 32-31.2,LOOKS EXTREMELY BEARISH

Markets For 26-05-2008

Nifty Resistance @ 5025,5156 levels ,Support Levels R 4899,4647.
Sensex Resistance @ 17300,17600 levels ,Support R 16608,16372.

4800 LEVEL COULD ACT AS A STRONG SUPPORT FOR THIS WEEK
For a day trader, 4899 act as a strong support area below this heavy panic may seen up to 4850 to 4785 level. it will face resistance @ 4988 and then 5025.

BUY Nifty Targets are 4988, 5025, 5088, 5111 and 5156 SL 4848 OR
SHORT Nifty Around 5000-5020,SL 5080.Tgts : 4920,4899,4850

NIFTY Special Caution: There will be swings of 100-150 pts in Nifty on single days on both sidesTrade in 4900 Put & 5000 Call Till Expiry

Listing of Bajaj Finserv Ltd on 26.05.2008
Bank of Rajasthan to consider Bonus issue in Meeting dated 31.05.2008

New IPO-
NIRAJ CEMENT STRUCTURALS LIMITED , PRCE BAND-175/- TO 190/- ISSUE OPENS 26.05.08 & CLOSES : 30.05.08LOT- 30 SHRS

BAFNA PHARMACEUTICALS LTD , PRICE - 40/- FIX PRICE ISSUE OPENS-27.05.2008 & CLOSES-30.05.2008MINIMUM:150 SHARES

In the grey market, the unofficial premium of Gokul Refoils was quoted around Rs.15-20 and Anus Labs at Rs.18-22.

WATCH: Apollo Tyres plans to invest Rs 2,000 crore in the next 3 years to increase its production capacity both in the country and abroad

Buy NEPC INDIA LTD. at CMP tgt Rs.30 , Time Frame 1 month

Buy-Entertainment Network(India)ENIL:Which operates the radio channel,Radio Mirchi 98.3FM. New stations weighed on profitability in 2007-08.

Hot Scripts for Week (26.05.08 To 30.05.08) :-
BPCL BUY 360.15 S/L 349 TARGET 368.
TATA COM BUY 502.75 S/L 491 TARGET 510
LMW BUY 1651.55 S/L 1623 TARGET 1690
MCDOWELL-N BUY 1619.90 S/L 1588 TARGET 1639.
BOMDYEING 987.10 S/L 969,TARGET 999
Buy NATIONAL ALUMIIUM @525 stoploss 513. TGT 556, 575.
REL CAPITAL: Buy if open in gap down and hold for a week target is 1400+ any decline buy this stock

For Delivery Based Investment Hot Midcaps/Smallcaps for Week (26.05.08 To 30.05.08)
BLUEBIRD,SHALIMAR PAINT,TATA ELXSI,GRAPHITE ,TELEIGHT, HINDUSTAN COPPER,SHRIRAM TRANS,PANASONIC,VAKRANGI, KEW,PSL.
Buy Visa steel on Monday morning at 59 for tgt of 70 in few days.

Weekly Calls-
Short LT 2900 stoploss 2955.TGT 2776,2698.
Sell CAIRN FUTURES BELOW@300 TARGET@240 SL@322
Short DLF @622 stoploss 635,TGT 595,579
GMR INFRA :Below 141 bear will have upper hand. It will slide up to 135 to 132 level. keep a SL of 144 and go short in this stock. Ultimate target 127.
STER :Stock look weak on chart, if trade below 885 then slide up to 867 to 836 level. keep a SL @ 916 and then 934 and go short.

INTRA DAY :
Sell TWL 763-64,SL-772,TGT-746/732
Sell TCS 939/940,SL-950,TGT-915/896
Sell APTECH 241/42,SL-246,TGT-230/224
Sell AXISBK 805/06,SL-815,TGT-785/770
Sell TISCO @ Below 897 target 886-872 to 842.SSL934.
Sell TATATEA @Below 888 Target 870-842 to 784.SSL932

BONG REF, Ashok leyland and GMR INFRA look weak for monday.

TIps & Advice For May ,2008

Market is likely to open strong tomorrow (May 22); Nifty can test 5,160-5,190 on upside, with 5,075-5,050 acting as strong support.

Nifty will remain in a range in coming days; 4,903 (50 DMA) & 5,067 (10 DMA) will act as support 5,197 (200DMA) and 5,221 (100DMA) as resistance.

Results on 22ndMay,08
BAJ HOLD INV, BALAJI TELE, CUMMINS INDI, MOSER BAER,DISHMAN PHAR, GARWARE WALL, HAVELLSINDIA,SOMANY CRAM,LAKSHM EL CO

Tomorrow SYLPH TECH (511447) is going to list and that also without circuit filters.
Be CAUTIOUS while trading in it. (TOTAL OPERATOR ITEM)

HOT STOCKS-APTECH,DLF,CROMPTON

DIVISLAB ABV 1450 SL 1410 T 1470/90/1510++,

KOTAKBK ABV 735 SL 722 T 740/45/50+,

RENUKA ABV 137 SL 131 T 140/42/45++(INTRA +POSITIONAL

Reliance Industries has a target of Rs 2,750-2,780, - Hold Nifty long positions for the target of 5173, with a stoploss of 5070.

Videocon Industries has support at Rs 360 and can head towards Rs 448 and possibly even to Rs 495

Satyam Computer & GE Healthcare Wednesday announced an agreement , global healthcare providers of all sizes. WATCH SATYAMMMMM

BUY JAYSHEETEA 158-59 SL 153 TAR 172-81,

BUY LITL 576-77 SL 569 TAR 600-618.

ITC LTD:has support at Rs 225 levels and expect to outperform in the days ahead.

PRAJ ABV 220 SL 210 T 224/27/30++,

RAJESHEXP ABV 95 SL 91 T 98/101/04++,

HEG ABV 290 SL 285 T 295/297/300++

Markets & Stocks This Week

SHARP MOVE EXPECTED NOW IN MARKETEXPECTED 5350-5400 LEVELS NEXT WEEK

Last week we predicted 4900-4930 major support of Market (Which was the support of parallel channel), from where market turn back sharply and trade above 5150 levels. From last two days Nifty looks heavily in oversold zone and sharp move expected. Traders can buy Nifty with strict stop loss of 5060 now for the Target of 5370- 5400 levels. Nifty short sellers try to exit at these levels, otherwise it will be very injurious for health. In current scenario one can buy heavy index based stocks for short term.

KOTAK MAHINDRA BANK (769.2) :-

Kotak Mahindra Bank shows good stength on charts. In every correction of Market this stock outperform the market in wide range. This stock also making higher top and higher bottom structure and also increase its range from lower levels which is also a real strength for a stock. Traders can buy this stock with strict stop loss 720 for the target of 842 & 876. Below 720 it can fall down to 630 levels.

EICHER MOTORS (320.6) :-

From the high of 644 eicher motors made a low of 225 in January fall. This is a good fundamental stock, which one can buy it for long term for the target of 800++. After making a low of 241,this stock continuously making higher top and higher bottom structure and made also a upward parallel channel which range is 42-45 rupees. This stock show good strength with volumes on last Friday. Traders can buy it with strict stop loss of 300 for the target of 390 & 420. Below 300 it can fall down to 256 levels.

Castrol India (Rs. 297.00 :- Castrol India is a subsidiary company of castrol UK has recently posted a robust performance in QFY08 where the company posted a top line of rs.492.90 cr. And a bottom line of Rs.72.80 cr. As against rs.442.10 cr. and rs.41.50 cr. respectively for FY07. the most important fact to be noted here is even in the scenario rising crude prices, CIL has managed to improve its EBITDA to 23 per cent from the earlier levels of 14.50 per cent. This clearly shows that the company has managed to pass on the cost to its client through its value added products. On the valuation front the CMP of Rs.287 discounts its FY08 earnings by 10.58x which gives scrip some scope for upward movement and hence we recommend the investors to buy the scrip at current level.

Dabur India (Rs. 99.00):- This Company recently come out with its results where it could not math up to the expectations. Here for Q4FY08 on the consolidated basis the company has posted a top line growth of 14.30%. the bottom line growth was not good and showed a growth of only 3.50 per cent. But here one should note that the lower earnings growth was on account of margin contraction of its retail venture and also due to higher tax payment. On the valuation front the CMP of Rs.99 discounts its FY09E earnings by 16x which is much lower as compared to its peers like HUL and Nestle and hence we recommended the scrip at current level.

GHCL (Rs. 80.00) : GHCH-Gujarat Heavy ChemicalsLimited, the number two company in production of chemicals, is in theplanning stage to take over Home Furnishing Retailer Linens and things. If the deal materializes it would be one of the big acquisition deals in retail segment of Indian corporate. GHCL has interest in many sectors has market capital of Rs. 825 crores and will become on of the leading specialty home textiles retailers. Considering the long term expansion and investment plan of the company investors may plan investment in the company for long term.

Tanla Solutions (Rs. 288.00 : The telecom sector company Tanla Solutions is focusing on India for its business development. The company has recently penned an agreement with Airtel, BSNL, Vodafone-Essar, R.Com and Idea cellular for messaging and billing. The company has market capital of Rs. 2701 crores. The growth in top line and bottom line of the company in FY 2007-08 was 84 and 15. 6 per cents respectively. The financial performance of the company was attractive during the period. It is likely to see more improvement in next quarter. As the company has focused its attention on India for business development dealers of the company are also expecting improvements in their turnover. The company has strategic partnership in South Africa and Spain. The company’s market share has improved by 4.5 per cent during the FY. There is also improvement of 17 and 20 per cent in offshore and product business of the company respectively.

Best Buy For Week – ICICI, RPl, ROLTA

Nifty Future- (5150) On the way up key a Major resistance at 5192/5220. fresh buying only closing above this level. Downside major support at 5070 levels. Upside target 5220/5300.

Indian Bank (141.5) Buy at decline for objective of 148/153 area. Now break above 153 then should lead the stock towards 166/170 area. Keep stop below 135 area. Very positive bias for this stock.

ICICI (935) buy at CMP for objective of 980/1021 area. Keep stop below 916 area. Very positive bias for this stock.

Fintech (1780) Intimate buy position in May future on any dips to 1770 area. For an objective of 1825. A break above 1825 will stock indicate strength in the upmove. stoploos below 1753.

Rolta (325) Buy May future with stoploss below 316 for an objective for 335/349 area. intimate 5 days position..

Gmr Infra.(152) Buy future at any decline rate nr. 150 with stoploss below 146 area for an objective for 160/165 area. intimate 5 days position.

SRF(122) Buy future at rate nr. 120 with stoploss below 116 area for an objective for 129/138 intimate 7 days position

GNFC (172) Intimate buy position in May future on any dips to 168 area. For an objective of 179. A break above 179 will stock indicate strength in the upmove. stoploos below 163.

DLF (648) Buy May future with stoploss below 636 for an objective for 661/677 area. intimate 5 days position..

Aptech (247) Buy future at any decline rate nr. 240 with stoploss below 234 area for an objective for 260/274 area. intimate 5 days position.

Century Textiles (822) Buy future at any decline rate nr. 810 with stoploss below 794 area for an objective for 847/865 area. intimate 5 days position.

Neyveli Lignite (147) Buy future at rate nr. 144 with stoploss below 139 area for an objective for 158/165 intimate 7 days position

NIIT Tech(152) Buy future at rate near. 148 with stoploss below 143 area for an objective for 165/170 intimate 3 days position

Gujara Alklies (188) Intimate buy position in May future on any dips to 185 area. For an objective of 196. A break above 196 will stock indicate strength in the upmove. stoploos below 176.

TATA POWER (CMP-1451) :-
TATA POWER is currently running above its 50 days moving average cross over of 1370 Rs. It looks god above its 50DMA. In last three treading session it performed fantastic. T readers can buy it at current level with the target of 1480 and above it 1525.

ACC LTD ( CMP-681.30) :-
ACC is currently running above its 100 DMA i.e 648. T readers can buy between the 975-985 with the target of 697 and above 697 it can go 720.

REL CAPITAL ( CMP- 1385 ): REL Capital is looking good on chart and its all averages and supports are getting strong. T readers can buy between the range of 1360-1390 with the target of 1440 and above 1440 it has up moment 1490. Raise stop loss at 1340.

RCOM (CMP-602 ) :- in last treading sessions Rcom had performed very well. And looking good on the chart. Buyers can buy it between 590-600 with the target of 630. and above 630 it has up moment up to 657

IVR PRIME
BSE CODE – 532881,CMP – 199.35 ,
IVR PRIME CAN BE BOUGHT FOR,SHORT TERM TARGET OF 216 – 220

GMR INFRA
BSE CODE – 532754
GMR INFRA CAN BE BOUGHT FOR A SHORT TERM TARGET OF 158 – 160

Gemini Com.(532318) (265) : Buy at decline. Stock price may reach the range of Rs. 350 to 400

Novartis (500672) (306) : Buy at price of Rs. 295 with stop loss at Rs. 280. You may be included the scrip in portfolio for 2-3 months with target price of Rs. 400 to Rs. 450.

Agee Gold(512289) (61) : Some groups are buying the scrip and the stock is likely to touch price of Rs. 85/100 in 5 months.

Kew Industries (532758) (23.45) : Invest at CMP with stop loss at Rs. 20. Stock may see a peak of Rs. 35/40.

Cambridge Sol.(532616) (57) : Buy in the price range of Rs. 55 with stop loss at Rs. 50. Hefty return expected in medium term on investment in the stock.

Nocil(500730) (27) : Invest with the stop loss at Rs. 22. After crossing the range of Rs. 36, may reach Rs. 45 to 50.

Relaxo Foot(530517) (45) : Buy for short term with stop loss at Rs. 35. The stock may see peak of Rs. 68 to 75 after it reaches closes above Rs. 55.

Chamanlal Sethia(530807) (30) : You may consider the scrip for long term investment. Stock price is likely to cross Rs. 45 to 50.

Surana (531102) (46) : May be purchase for short term. With the price movement, it may reach the level of Rs. 60 to 65.

NFL(5523630) (48) : Increase investment at every decline. Scrip is likely to move up after creating bottom at the price level of Rs. 35. The stock may see a peak of Rs. 70 in medium term and Rs. 100 in long term.

Kirl. Ferrous (500245) (39.5) : Buy with stop loss of Rs. 34 and target price of Rs. 70/75.

PSI (532199) (60) : Buy at every decline. Stock may see the top of Rs. 100 in coming months.

Donear.(512519) (64) : Purchase the stock with stop loss at Rs. 56 You may earn hefty profit as the stock is likely to touch the price range of Rs. 100 to 110.

Vimta Lab(524394) (81) : Invest at Rs. 75. Price may hit the top of Rs. 120.

Zee News (532794) (56) : Invest with stop loss at Rs. 46. Price is likely to see the top of Rs. 75 to 80.

JP Hydro(532627) (66) : Buy at Rs. 65.It may see the top of Rs. 100 after crossing Rs. 75.

Control Print.(522295) (50) : fine investment, buy with stop loss at Rs. 40. The stock is likely to touch top of Rs. 70 to 80.

Agrotech Food(500215) (155) : Buy with stop loss at Rs. 140 Price may reach the top of Rs. 180 to 200 in around two months.

VST Triller(531266) (155) Buy with stop loss at Rs. 145. The stock is likely to touch top of Rs. 180 to 200 after it cross the range of Rs. 165.

National Paroxide (500298) (110) : Buy with stop loss at Rs. 190 and target price of Rs. 250- 275.

Dalmia Cement.(500097) (284) : Buy in the price band of Rs. 260to 270 with stop loss at RS. 250. Investor is likely to reap benefit of top price of Rs. 350 to 400.

Ledo Tea(I)(508306) (53) : Buy for short term with stop loss at Rs. 45 and target price of Rs. 85 to 100.

Hitachi(523398) (162) : Buy in the range of Rs. 150 with stop loss at Rs. 138. Stock may see the top price of Rs. 200/225 in short duration.

Dish TV.(532839) (56) : Invest considering Rs. 53 as a bottom price. The stock is likely to touch peak of Rs. 70 to 80.

Tips N Recommendations For 20-05-2008

WEEKLY OUTLOOK ON MARKETS:
POSITIVE TO NEUTRAL BUT TREND CHANGE ONLY POSSIBLE IF INFLATION BELOW 7%

SHORT TERM MARKET STRATEGY:

HOT TODAY(20/5):- ASHOKLEYLAND,RNRL,RELIANCE,ESCORTS,BAJAJHOLDING,Hyderabad industries,Jsw steel,Prakash industries,Adlabs.

DAYTRADERS BOOK ACCOUNDLY.BOOK PROFIT AS PER YOUR RISK TAKING ABILITY.

Week market support is 5135. Ivrcl, Idfc,Pfc, Bajaj hind, are good for minimum 5 to 8 percent above this level. Gt offshore targe is 780. Purva,Omaxe auto good for a minimumof 10 to 15 percent.

F&O stocks for week

Abirlanuvo sl 1444 above 1550 tgt 1651/1796
Axisbank l 869 above 917 tgt 969/1020
GNFC futures may hit : 185-191 in coming time.....keep u r eyes on GNFC futures.

Tips / Stock of Week :

ABIRLA NUVO: Buy with a stop loss of 1490 and target price of 1620 1660 to 1720
BUY AND HOLD VOLTAS cmp 163.40 tgt 170....175 +++ (at Everydeep)
BUY AND HOLD CEN.TEX 810/11,SL-799,TGT-840/855 (at Everydeep)
WEEKLY NIFTY STRATEGY: BUY NIFTY-5165,SL@5100,TARGET@5350+
BUY MINISENSEX ON Tuesday WITH SHORT TERM ,SL16950

INTRADAY: BUY RANBAXY@510 STOP LOSS@505 ,TGT 525+

BUY ESSAROIL@261 TARGET@280+ STOP LOSS@255

SUZLON 304/4.5,SL-301,TGT-314/319

Gujalk sl 180 above 192 tgt 200-220

IOC sl 390 above 415 tgt 430-440

Jp asso sl 265 above 274 tgt 287-295

Buy MATRIXLAB @Above200 Target 208-215 to 232. SSL177.

Buy APTECH @Above248 Target 252-255 to 263. SSL237.

Buy COLPAL @Above 446 Target 453-460 to 476.SSL424.

Buy DEEPAKFERT @Above 107 Target 110-112 to 118.SSL99.

Litl sl 516 above 535 tgt 598-611

Lichous sl342 above 344 tgt 378-390

Moser sl 181 above 201 tgt 217-232

Tatacomm sl 500 above 515 tgt 537-554

Mahgesco sl 517 tgt 692-715

Gnfc sl 165 tgt 183-193

Hcc sl 131 tgt 149-153

Rolta sl 310 abv 327,tgt 347-355

Skumar sl 107 abv 115 tgt121-130

Unitedphos sl346 abv 357 tgt 368-387

Aban sl 3700 abv 3915 t4607-4748

ASSAMCO (TP 36)SL 35.2,Tgt 37.5--38.5

MCLOEDRUS (TP 104)SL 104.2,Tgt 108.2--111.6

R Power
Buy abv 418.40 sl 415.40 ,T 422/426 ; Sell bel414.90 sl 418.10, T 410/406

Orchid chem
Buy abv266 sl263.30, T 269/272 ;Sell bel 260.60 sl263.10, T 257/254

CAIRN
Buy ABV 300 SL 288 T 305/10/15++, Sell bel 293sl 296 t 290/287

SELL EDELWESS 805/06,SL-815,TGT-780/760

SELL INFOSYS 1878/79,SL-1891,TGT-1850/25

ADLABS ABV 691 SL 676 T 705/10/15++,

TATACOMM ABV 512 SL 500 T 520/25/30++,

TISCO ABV 890 SL 875 T 898-910+

JETAIR ABV 545 SL 538 T 550/55/60++,

Ifci buy abv 63.10 sl 62 t 65/67/70 sell bel 61.80sl62.80 t 60/58 ( Positional)

TATAPOWER ABV 1440 SL 1420 T 1460/70/80++

Niittech sl 147 above 155 tgt 162-170

Obc sl 208 above 214 tgt 221-230

Ranbaxy sl 500 above 517 tgt 543-561.

DLF MAGIC NUMBER – 647,
UPSIDE TARGET - 657 & 666 AFTER THESE ,DOWNSIDE TARGET - 639 & 630

AFTEK MAGIC NUMBER 53
UPSIDE TARGET - 54.80 & 56.60, DOWNSIDE TARGET - 52.05 & 51.20

DELUVERY PICKS:-

MOSERBEAR ABV 195 SL 186 T 204/08/12++,

RCOM ABV 610 SL 590 T 630/35/40++,

RANBAXY ABV 515 SL 500 T 560/70/80(1-2 MONTH)

GODREJIND as a short term Buy on every decline. Targets are 380 430.

CHAMBAL FERTILIZERS & CHEM.... strong on the charts and would reach Rs 86 levels in the short-term

Keep eye on 532700 Entertainment Network India Ltd cmp 432 & 512579 Gujarat NRE Coke Ltd 157.75 looks good on delivery basis good upside

TTML LTD: Buy at : 34 - 36.50;Target : 41 - 42 (short term);Stop loss : 32

Buy : Carborundum Universal
Cmp : 115 , Target : 150 , Upside : 30% , Time : 3-4 months

WOCKHARDT BSE:532300 AT LOW 301 LEVEL
CMP 307 SL:287 ,TGT:330+++++++

Markets Weekly

BSE Sensex: - (17434)
The Sensex last week opened at 16641 attained a low of 16546 and made a high at 17497during the week. The Sensex finally closed the week at 17434 and thereby showed a net gain of 696 points on week to week basis. The Nifty gained 3.51%. The CNX Mid cap kept in step, with a gain of 2.51%. BSE Metal Index was the major gainers among all indices, gained 9.27%. BSE IT Index, Consumer Durable Index, Banking Index did well, all gained more than 5%. While BSE PSU Index, Auto Index remained silent, all gained nearly 1%.
BSE Oil Index, FMCG Index and Reality Index gained nearly 2%.Hindalco was the star among the Sensex stocks, gained 17.37%. RCOM, REL, Ranbaxy, ICICIBANK, Maruti, Infosys, TCS followed it, all gained between 6% and 11%. There was heavy selling pressure in ONGC counter, dropped 7.57%. Bajaj Auto, ACC, HUL, Grasim also joined the decline. JSW Steel, Chambal Ferti, Lupin Ltd were the top three gainers among F&O liquid counters, all gained more than 21%. Nat. Alu, Hindalco, Mphasis, Titan, Matrix, Nag. Fer followed it all gained handsomely. Purvankara, IOC, Voltas, IVR Prime were under pressure, all lost between 5% and 8%.

Support: 17300, 16950. Resistance: 17750, 18150.

Price Pattern View: -
Last time we found ‘Bearish Engulfing’ reversal pattern on the weekly chart, while this week we didn’t get the follow up of that bearish pattern and got ‘Piercing line’ pattern on the weekly candle stick chart which is bullish reversal pattern. Psychology reading of these action causes concern to the bears and a potential bottom has been made. If the top of the Bearish Engulfing pattern is crossed then bulls will have upper hand because in technical analysis rejection of bearish pattern means much more bullish sign and the Sensex will be headed towards 18200.

MARKET OVERVIEW AND TECHNICAL OUTLOOK
The markets closed the session on a positive note but were volatile since morning and didn’t react much to the higher inflation numbers, which stood at 7.83% versus 7.61%, that was way above market expectations of 7.59%. Shares from banking and metal advanced on renewed buying interest. European markets which opened after Indian markets, advanced. Asian market, which opened before Indian market, was mixed. The Sensex closed above 17400 and the Nifty above 5150 mark. The Indian Rupee touched 42.89 per dollar. Market Turnover for the day stood at Rs 57401, Most active counters were Aishwarya Tele, HDIL, SAIL, Reliance and Cairn India,Chambal on the bourses. For the next trading day Nifty is having resistance at 5181, 5204 and having support at 5120, 5082.

Market ends higher – Volatile days for market
The markets closed the session on a positive note but were volatile since morning and didn’t react much to the higher inflation numbers, which stood at 7.83% versus 7.61%, that was way above market expectations of 7.59%.

Shares from banking and metal advanced on renewed buying interest. European markets which opened after Indian markets, advanced. Asian market, which opened before Indian market, were mixed. The Sensex closed above 17400 and the Nifty above 5150 mark. The Indian Rupee touched 42.89 per dollar.

Market Turnover for the day stood at Rs 57401, Most active counters were Aishwarya Tele, HDIL, SAIL, Reliance and Cairn India,Chambal on the bourses.Monday 19th May 2008 will be trading holiday on account of Buddha Jayanti .Tuesday Market is expected to open on Flat note after a long weekend.

We can see Nifty spot to open at 5150-5160 in opening. Nifty spot if able to maintain above 5140 then we can see rise in market till 5175-5190 , now we can see the fresh buying will come in market only above 5190 and which could take Nifty towards 5215-5250 in short time. Nifty having support at 5110-5075 below 5075 we may see more profit booking which could take Nifty towards 5040-5015 in short time.

Looking at Daily chart of Nifty Stochastics and RSI are positive and we can see the 200 dma exist at 5190 for Nifty so we expect that Nifty to test that Resistance area once that level would be the breakout or profit booking area for the Nifty. One can focus on Gujrat Alkali, Escorts, HDFC Bank, Essar Oil, Rcom, and Tatasteel for Tuesday trading.

NEWS HIGHLIGHTS
Economy: Wholesale price index-based annual inflation rate moved up to an uncomfortable 7.83 per cent for the week ended May 3, an over 42-month high. During the week, prices of items like edible oils, cement and iron and steel (which have seen government intervention) declined, but its impact on the index was negated by an across-the-board increase in prices of food, manufactured products and mineral oils.

Corporate: Public sector lender Indian Bank has posted a modest 2.7 per cent increase in net profit at Rs 241.6 crore for the January-March quarter of 2007-08 as compared to Rs 235.31 crore in the corresponding period of the previous fiscal.

Momentum Indicator: -
Relative Strength Index on the daily chart is moving in tandem with the price. It is in the positive zone. Medium term moving averages converging each other while short term moving averages crossing over positively giving short term buy signals. On the daily chart 100 DMA (17556) and 200 DMA (17504) are restricting the rise while 50 DMA (16350) is giving support to the market. ADX line is moving side way indicating no major trend in the market. D+ and D- line cross over positively giving buy signal for the short term but the gap between two is narrow suggests that volatility is low and it will expand after major trend reversal emerge. On the whole all pictures indicate range bound moves between 16500 and 18000.

Tactics: -
Long-term investors should wait for the next intermediate downtrend to come to an end. Swing traders should go long only after the next market decline, as the market rose continuously for 900 points in just three trading sessions. Since the rise on Thursday and Friday was sharp and long, we could see some retracement to 17150- 17050 before it go up further. So short term investors and intraday players should monitor Friday’s low closely if it breaks that level than they should be prepare for small decline in the indices.

Stocks inFOCUS
RCOM - The stock closed at Rs. 602 on Friday. It has made a 52 week low at Rs. 465 and 52 week high of Rs. 844. The 14 days Moving Average of the stock is currently at Rs.561. On the daily charts, the stock is in buy on MACD and its 14-days RSI is currently at 56 (above 50 is consider to be in strong hands). It has strong support at Rs. 590. One can buy and accumulate the stock at Rs. 602 stop loss of Rs. 585 for a target price of Rs. 630-640.

HDFC BANK - The stock closed at Rs. 1500 on Friday. It made a 52 week low at Rs. 991 and 52 week high of Rs. 1825. The 14 days Moving Average of the stock is currently at Rs. 1508. On the daily charts, the stock is in buy on Stochastics and its 14-days RSI is currently at 55 (above 50 is consider to be in strong hands). It has strong support at Rs. 1470. One can buy and accumulate the stock at Rs. 1500 with closing below stop loss of Rs. 1470 for a target price of Rs. 1580-1590.

TATA STEEL - The stock closed at Rs. 891 on Friday. It made a 52 week low at Rs. 527 and 52 week high of Rs. 1048. The 14 days Moving Average of the stock is currently at Rs.838. On the daily charts, the stock is in buy on Stochastics and its 14-days RSI is currently at 68 (above 50 is consider to be in strong hands). It has strong support at Rs. 870. One can buy and accumulate the stock at Rs. 891 with closing below stop loss of Rs. 870 for a target price of Rs. 900-920.

SAIL( CMP : 186 ; NEUTRAL)
SAIL has announced its fourth quarter results. The company's Q4 net profit up 25% at Rs 2376.8 crore versus Rs 1901.8 crore. Its net sales were up at Rs 13350 crore from 10385 crore. It’s Q4 other income was up at Rs 618 crore from Rs 640 crore.
For FY08, the company's net profit stood at Rs 7536.8 crore as against Rs 6202.3 crore. Its FY08 net sales at Rs 39508 crore versus Rs 33923 in FY07. According to Market estimates, its Q4FY08 net sales were seen up 20.34% at Rs 12497.53 crore from Rs 10385 crore. The company's Q4FY08 PAT was expected to go up 37% at Rs 2606.1 crore from Rs 1901.8 crore. The company has outperformed the market expectation.

Auto Line Ind (265) TGT 315
The stock made an all time high of 463 during Feb07 and fell sharply up to 153 levels in Nov 07 in secular fashion. The stock formed good base near 160 levels. From March 08 the stock showed tremendous strength on the chart and rose sharply. It crossed the major resistance of 260 with good volume. Price pattern along with momentum picture suggests that the bull operators are very much active in the counter. One can invest on decline considering the support of 245 with a stop loss below 220. Target for the stock is 315

Chennai Petroleum Corporation (CMP: 350 ; OVERWEIGHT)
Chennai Petroleum Corporation reported a phenomenal rise in standalone net profit for the year ended March 2008, beating analysts` expectations by wide margin. During the year, the profit of the company surged 98.66% to Rs 11,229.50 million from Rs 5,652.70 million in the previous year. The analysts` polled by Bloomberg had estimated profit of Rs 8,775.97 million during the year. The company posted earnings of Rs 75.41 a share during the year, registering 98.66% growth over prior year. The analysts` projected profit of Rs 61.51 a share. Net sales for the year climbed 13.46% over prior year to Rs 280,186.10 million as against Rs 256,141.48 million forecasted by analysts. Total income during the year rose 13.69% to Rs 281,470.70 million compared with the prior year period.

Trend Analysis: -
The week ended 9th May was very negative with substantial loss in the Sensex therefore in our last weekly news letter we mentioned that ‘the Sensex is on the verge of entering the intermediate down trend’. The level for intermediate down trend was 16589. The Sensex breached that levels on Monday on intraday basis but didn’t remain below those level and closed well above it, thus intermediate up trend remained intact. After crossing the level of 17085 for the Sensex the indices climbed back into intermediate uptrend on Thursday. This confirms that the recent downtrend signal can be considered as false one, as the decline was too small and short-lived. The Sensex got the support near the up ward slopping trend line coupled with a weekly trading gap around 16570 during the last week. We were anticipating good support of 38% pull back level of the last major rise near 16580 area and market bounced very much from those level. If we consider the last week’s low of 16546 as higher bottom of the rise from 14677 to 17735 and moves to cross 17735 then expect the rise to get extended towards 18200-18400. Till the high of 17735 is not crossed, every rise will be a rise to create a lower top to surrender the gains. One thing one should keep in mind that the Sensex is moving in the Rising Wedge pattern since last two months which is bearish sign. It means upside is capped near 18200-18300 areas and trader should book profit near those levels while if the market decisively breaks the level of 16800 than the channel break down will bring the Sensex down. Immediate support on the down side is 17000 where the trading gap on the daily
chart is. The recent established intermediate uptrend would end if the Sensex breaches 16,626. The equivalent triggers are 4,932 for the Nifty, and 6,705 for the CNX Mid cap index.

All the indices are in major (long-term) downtrend, which means that we are still in a bear market. The level above which the long term up trend remain unchanged, if the Sensex closes above its last intermediate top of 18895, and the Nifty above 5545. The CNX Mid cap index will be in a long-term uptrend if it closes above 7378. In our last weekly news letter we were expecting the level to come down to the recent pick provided the intermediate down trend bottom out with out causing much damage. But the Sensex’s intermediate up trend remained intact last week. The next intermediate downtrend will be an important one for the market. A bull market will become a real possibility if the intermediate downtrend bottoms out quickly with minor loss. On the other hand, a persistent decline with new bear market lows will mean that we had just been through a pull back rally during the past few weeks.

All Asian markets closed in the green on Friday. European markets were in line with Asian markets on Friday with a gain of nearly 1%. US markets remain muted, DOW JONES and NASDAQ closed with minor loss while S&P -500 closed in the green. Global markets are in a similar situation. They too are back in clear intermediate uptrend, after coming close to falling into intermediate downtrends. The picture is therefore of an intermediate uptrend that was threatening, but survived here and globally also.

Fundamental View:-
Domestic Factors are Major Trigger for Market Direction :-
The week was good for the market regardless of the flow of negative news. The market is likely
to be rangebound in the absence of any major domestic trigger, with Q4 March 2008 results
nearing end. Next week is a curtailed trading week as the market remains closed on Monday, 19
May 2008, on account of Buddha Pournima.

Inflation data will be closely watched as it remains as a major worry and hindrance for the
domestic growth. High inflation may compel the government to take more fiscal measures to rein
in prices in addition to slew of measures taken recently.

The wholesale price index rose 7.83% in 12 months to 3 May 2008, higher than previous week's
annual rise of 7.61%, government data released on 16 May 2008, showed. It was the highest since an annual reading of 7.93% n 6 November 2004. The annual inflation rate was 5.74% during the corresponding week of the previous year.

The government has taken a slew of fiscal measures such as ban on export of cement and non basmati rice, cut in import duty on some items and imposition of export duty on some steel items to rein in rising prices.

Excise duty collections declined by 3.9% to Rs 64.10 billion in April this year, as compared to Rs
66.73 billion in the same period last year. Customs duty collection however, registered a 25%
growth at Rs 90.18 billion in the first month of fiscal 2008-09, as compared to Rs 72.21 billion in
the same month in 2007-08.

The Indian rupee hit a 13-month low at Rs 43 a dollar on Friday weighed down 3-1/2 year by
high inflation rates, but recovered to end stronger as exporters cashed in on dollar holdings. The
partially convertible rupee ended at 42.53/54 a dollar, off an intraday low of 42.92, which was its
weakest since Apr. 12, 2007. It had closed at 42.75/76 on Thursday.

Foreign institutional investors (FII) have, so far, sold shares worth Rs 529.10 crore this month, till 14 May 2008. They sold shares worth Rs 10,887.20 crore in calendar year 2008, till 14 May
2008. Domestic funds sold shares worth Rs 639.80 this month, till 14 May 2008.

The BSE Sensex rose 697.87 points or 4.17% to 17,434.94 in the week ended Friday, 16 May
2008. The S&P CNX Nifty rose 175.10 points or 3.51% to 5157.70 in the week.

Markets For May 15,2008

Nifty
Resistance:5031-5060-5073-5100
Supports: 5000-4963-4945-4900-4873-4850
5100 IS RESISTANCE,V EXPCT MKT TO FLIRT 5100 LEVEL n GAp up
NIFTY STRATEGY:
BUY NIFTY@opening SL@4980 TGT : 5050-5065- 5100-5200.
Sell with SL 5005 tgt 4950-4900 Below 4980

GEOMETRIC
TP 58.5,SL 57,Tgt 60--63.5

MARICO
TP 65.55,SL 65.25,Tgt 67.7--70.7

KABRAEXTRUSIONS
BUY ABOVE 147.5,SL 146.7,Tgt 155.83--164.5
S.SELL BELOW 146.4,SL 147.15,Tgt 138.75--129.7

BIHARTUBES

BUY ABOVE 180.2,SL 179.3,Tgt 183.5--188.4
S.SELL BELOW 178.8,SL 179.7,Tgt 175.2--170.9

OMNITECH..:Buy ab. 194.90, SL 193.50, TAR: 204-214 (huge volume seen the stock)

STRONG BUY: :.. BHARTI ARTL Buy above 844 Stoploss 832 for Targets of 863-870.

BUY ESSAROIL@260 SL@256 ,TGT:280

BUY CHAMFER 70.5/71,SL-69.45,TGT 74,77

Buy IVRCL 421/22,SL-414.45,TGT 438,455

BUY REL 1412/15,SL-1399.45,TGT 1460/1500

Buy INFOSYS 1810/15,SL-1789.45,TGT1865

BUY TCS 955/58,SL-944.45,TGT 1000/1030

Buy AXISBK 865/66 SL-858.45,TGT 880,895

BUY LT 2828,SL-2805,TGT-2860/2890/2950

Buy STERLITE 850/51, SL-842.45,TGT 875,890.

DRREDDY BUY: Ab. 658, sl-653, tar:696-704-712-720.

Zee tel sl 232 tg 245

Buy bhusaln steel for 2-3days sl 765 t 830-840

Jindal sow buy at 590 tg 625

Buy KTKBANK @ Above 213 Target 217-220 to 229. SSL 201.

Buy NETWORK 18 @ Above 258 Target 271-284 to 315. SSL 216

Buy Welspun India@59 SL 57 Tgt 65,

Omnitech@196 SL 193 Tgt 205,

Hindustan Zinc@738 SL 730 Tgt 750

DLF:B:623 T1:633 SL:617 (BUY FOR POSTIONAL T2:669 SL:595)

HEROHONDA:B:ABVE 820 T1:835 SL:809

Cairn:s:285 TGT:290-295 SL:278

RPL:B:184 T1:182 SL:189

Buy LUPIN Abv 582 T: 598-612 SL 534

CORPBANK Abv 341 T:348-355 SL 320

DIVISLAB Abv 1428 T:1468-1506 SL 1305

HPCL Abv 237 T:241-246 SL 224.

Buy NETWORK18 Abv 258 T:271-284 SL 216

I-FLEX

Action TriggerPrice Stop Loss Target 1 Target 2
BUY ABOVE 1390 1365 1421 1460
S.SELL BELOW 1355 1370 1330 1280

TATACHEM
Action Trigger Price StopLoss Target 1 Target 2
BUY ABOVE 350 344 355 363
S.SELL BELOW 341 346 337 326

RCOM
Action Trigger Price Stop Loss Target 1 Target 2
BUY ABOVE 560 549 571 585
S.SELL BELOW 546 555 538 520

Keep eye on 531642 Marico Ltd TOday Volume in bse 77,34,309 & Delivery 95.95% OF Total Volume.

ALSO KEEP EYE ON 532684 Everest Kanto Cylinder Ltd IF CROSS 357-359 Then Good upside expected.

Midcap IT space, Polaris seems to have bottomed out,SL 90-91, it can give decent gains. Once NMDC closes above Rs 1,550..SEE GOOD RALLY...

Buy HCL Tech above 305 Target 312 Stoploss 298

Delivarycall

Mavana sugar sl 45 tg 58-65 8day

Gitanjali sl 280 tg 310

Lanco buy at 490 tg 550

Tata motors sl 660 tag 700

Siemens sl 570 tg 620 3-4 days

DELIVERY BUY IL&FS INVEST.. GOOD NEWS COMING.. SL4% TGT10-20% IN 2 WEEKS

BUY CAIRN INDIA AT LOWER LEVELS ONE YEAR TARGET IS 321-361-425 LONG TREM SUPPORT AT 240 SO BUY IN DIPS.

Sandur manganese eyes 600 crore profit or eps of Rs 750/- ..price target 4000..strong buy

Buy : Sonata software

Cmp : 37 , Target : 58 , Returns : 50% , Time : 5-6 month

Markets Poissed For May 12 , 2008

Market Analysis and Outlook for 12-05-08,Monday

Dow closed in red.Nifty broke 5000..market may see good downside tomorrow.put stoplosses to all ur trades tomorrow

NIFTY Analysis :

Nifty faced strong selling pressure due to weak global closing and rising oil prices. Technically it was a very weak week with Nifty simultaneously closed below its 200 DMA (5179) and 50 WMA (5042) at one go. Since we are expecting Nifty to touch 5500 mark but the unsustainability of Nifty above 5200 indicates that we are in a strong sideways market with two distinct trading zones. One is between 4500-4900 and the other one is between 4900- 5300. On daily chart Nifty has a strong support around 4910 as the short term trendline moves around 4910 level.So Nifty may get support around 4900.If Nifty breaks and closes below 4900, then there will be more chances that Nifty may test 4500 level again. Unless Nifty closes above 5200, use rallies to cut long positions in the market. For Monday, support exists at 4950 and then at 4910 and on upside, resistance exists around 5025 and then at 5070. (200 DMA – 5179, 200DMA for SENSEX – 17470, 50 WMA for NIFTY – 5044).

BSE SENSEX :

For a day trader, If trade above 16846 then next target is 17015 to 17293 level. support @ 16568 break below create bloodbath in market up to 16399 to 16121 level.

NIFTY FUTURE :

For a day trader, It will get support @ 4938 and if break this then panic up to 4894 to 4820 is expected. and at upside above 5112 it will face hurdle @ 5056 and then @ 5130.

Nifty Spot price: 4982

Only negative cues prevailing for tommorow's market. Inflation and Crude Oil fears to demolish traders and Investors sentiment.

So what we can expect from tommorow's market. Traders are in thought that is there any chance of sustaining the uptrend what we saw last month? Will bulls restore the place of bears despite global weakness? And what nifty charts are telling whether to short nifty or to go long at lower levels?

Taking all these things we had made a safest futures and option strategies in Nifty to be followed on monday market. Here we go

Nifty Strategy:

Gap down opening may possible on tommorow( 12th May,2008 ). If Nifty breaks 4940-4950 band then next support at 4740. So if we want to sustain the upmove then we should hold 4950. So Nifty may try to breach 4950 and even 4880 and then a bounce back to 4950 at late trade or one can expect even above.

So be carefull while selecting stop loss.

And go long if 4950 recover. Else remain short the nifty below 4950 with stop loss at 4982. And keep lowering your stoploss whenever nifty cracks down

Right now technical indicators show strong sell Signals and there is a chance of turn around and also have an eye on Yen currently trading at 102.85/dollar. More the yen appreciation more the FII selling pressure.

Tips & Some Trading Advice :
12th May'2008

Monday 12th May Sensex Range 16,419 - 16,391 - 16,364 Opportunity to by INDEX CALL, Tisco short covering, Market will UP on TUE & WED

The Stocks we are looking to BUY on Cheap are:-RPL,UNITECH,DLF,KOTAKBANK,
PVR,POWER GRID...

RPL
Buy abv 184.30 sl 183.10 t 187/189
Sell bel 179.40 sl 181.20 t 177/173

Rajesh Expo

Buy abv 98 sl 96.30 t100/102
Sell bel 96 sl 97.20 t 94/91.

RENUKA

BUY ABOVE 129.00 sl 127.85 TAr 130.30 - 132.20
SELL BELOW 126.45 sl 127.60 Tar 125.20 - 123.35

Gss America

Buy abv 393.30 sl 389 t 397/401
Sell bel 385.40 sl 389 t 381/377.

HTMT GLOBAL Buy above 420.45, SL 418.30, TAR:426/430

SATYAM COMP :
If trade above 473 then zoom to kiss 483 to 492 level. support @ 464 and then 455.

BHARTI AIRTEL :
Above 834 no problem for bull, it will zoom to kiss 866 to 892 level. support @ 808 and then 776.

Sell GAIL May Fut @ 410. Target 380. Keep Strict Stop loss at 420.

Sell CORPBANK @Below 339 Target 335-329 to 316.SSL357.

DOVERSECU : TP 190,SL 187,Tgt 204--215

IFCI : TP 60,SL 59,Tgt 62—65.

Sell IOB@Below 148 T: 147-145 to 142 SL 152.

Sell M&M@Below 671 Target 667-659 to 644 SL 691.

Sell Sail@Below 166 Target 165-162 to 258 SL:173.

Cairn India seems to be one of the strongest stocks in the market now.. target price of Rs 300 and possibly even Rs 360... Now 283, sup.240

Sell NIFTY @ Above5001 and Below5069 Target:4940-4910-4870-4730. SSL5110

Buy KOTAKBANK June Future @ 805-15 , NO S/L CALL , Target 925-1000 before JUNE EXPIRY.

INVESTMENT IDEA:-

Buy GRASIM at cmp:2340. Target 3000.
Buy BHARTI AIRTEL at cmp : 847. Target 1100
Buy PETRONET LNG for Next Week at cmp:76. Target 90.
Buy GSPL for next week at cmp : 67. Target 107.

Very Huge RiskyTraders ( High Risk / Pure Intraday ) :

Nifty level

Buy abv 5010 sl4999 t 5034/5055

Sell bel 4961 sl 4985 t 4936/4917/4870.

News :

Apollo Tyres to invest 200m in Budapest plant.

Asian Paints Q4 cons net profit at Rs 94.52 cr.

Ashok Leyland to double capacity within three years

ICICI Securities, the investment banking arm of ICICI Bank, will come out with initial public offer very soon.

Reliance recei. the PE 100 certification from M/s Bodycote,Sweden.This is a rare achievement.RIL the only Indian and seventh Asian producer.

Tips & Research Advice For MAY 8,2008

SURYAJYOTI TP 56.7,SL 56.4,Tgt61--64

MRO-TEK TP 79,SL 77,Tgt 82.8--85.5

Sell BAJAJ Below @ 738 Target 722-697 to 644. SSL 774.

Sell BHARTI Below @ 810 Target 793-767 to 712. SSL 848.

TATA STEEL BA 820 SL 806 for T 842.

STER. BA 860 SL 848 T 878

BUY: 3i Infotech T-188.

GVK Power has short-term target of Rs 70-75

GE SHIP BA 462, SL 458, T 467, 477.

PFC SELL below 172,stoploss@174 & below, targets 168

INDIANB BUY ABOVE 157.10 SL 155.65 T 158.65,160+

STOCKS TO WATCH: Hind oil,Zenith computers,Omnitech.

NIFTY 5050 level will be a huge supports for the market and must bounce from this level.

NIFTY broken 5100,then the next supp.will be 5080-5050.

Calls & Outlook For 7th MAY 2008

BSE
Support 17240/17110,
Resistance 17490/17635

NSE
Support 5060/5100,
Resistance5210/5250

Nifty consistently closes below 5175 then the bears will come out with daggers.The market is likely to continue to witness selling pressure .

MARUTI, Buy May Futures , Buy Above Rs 792 ,Tgt: Rs 820 / Rs 834 ,Sl: Rs 776 ,Lot size: 138

Reliance Inds., Buy May Call Option Strike price 2600, View: Bullish,
Buy Above 133 ,Tgt : Rs 149/ 157 ,Sl: 125 ,Lot size: 75.

Bombay Dyeing, Buy May Futures, View: Bullish
Buy Above 1055,Tgt: Rs 1090/ 1120 ,Sl:1030.10 ,Lot size: 300

CEAT LTD.
BUY ABOVE 134.5,SL 133.8,Tgt 142.3--149.6
S.SELL BELOW 133.45,SL 134.15,Tgt 127.1--118.6

USHAMARTIN
BUY ABOVE 102.3,SL 99.8,Tgt 108.15--114.6
S.SELL BELOW 99.5,SL 100.05,Tgt 93.85--85.5

Buy NIIT,cmp109,Sl 98 on Closing basis,TGT 120/125+

Ashok Ley can goup to Rs 49-50 in a week's time.CMP Rs 43.05
ITC with a stop loss of Rs 221 and a target of Rs 232

ALSO WATCH TTML,
TTML can go up to Rs 43-44 in a few weeks time,currently trading at Rs 37.85. DENA BANK DELIVERY TARGET Rs. 90

PFC is in an uptrend, so it is a hold at current levels,stock will face resistance at Rs 200.

AISHWARYA TELECOM IPO LISTING ON 07TH MAY, 2008 Issue Price: Rs. 35/- per share, EXPECTED OPENING Rs.60/- EXIT AT ABOVE 55-60.

Buy BOB Above @326Target 330-333 to 342. SSL314.

Buy POLARIS Above @110 Target115-119 to 130.SSL 96

Sell HEROHONDA Below @ 819 Target 812-800 to 776. SSL 851

Equity Markets On May 5 ,2008

STOCK LOOKING STRONG for MONDAY [May 05, 2008]
NTPC, IDFC, SRIEINTFIN, MUNDRA, IDEA, LT , REL

Nifty if broke 5170 then bearish trend.
Nifty
Buy Above 5237 sl5212 t 5262/5282
Sell Below 5208 sl 5233 t 5184/5160

INTRADAY CALLS FOR MAY5,2008

Ansalinfra
Buy Abv 187,Sl 185,Tgt 190/193
Sell below 184,Sl 186 TGT 181/178

CAIRN
Buy Above 252.5,Sl 249,Tgt 255/258
Sell Below 248.9,Sl 253,Tgt 245/242

Buy BAJAJ AUTO Above@738 Target752-766 to 801 SL718

Buy Dr.REDDY Above @637 Target643-648 to 662 SL621

RCOM
Buy Above566,Sl 563,Tgt 572/578
Sell Below 556,Sl 561,Tgt 551/546

HDIL

Buy Above 863,Sl 854,Tgt 871/878
Sell Below 847,Sl 858.50,Tgt 838/829

BUY DCHL ABOVE 154.5 TARGET 157.5 STOPLOSS 151

DELIVERY CALLS ON MAY 5,2008

Buy: Pyramid Saimira Theatre Ltd.CMP : Rs 316Target : Rs 380 and 420 Time : 3 months

Buy Indiabulls sec delivery 1 month tgt 200

Buy RPOWER 393-395 sl 385 Target 425 (TIME FRAME 5-7 DAYS)

Cairn India has a target price of Rs 300-350, it has resi. at Rs 253-270 and sup. at Rs 202-230,currently trading at Rs 246

Praj Industries has resistance at Rs 290..The company has a robust order book of Rs 900 crore.The stock is currently trading at Rs 210

Cadila Healthcare target price of Rs 381.

The realty space,the valuations of DLF and UNITECH look attractive for the long term