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