Markets & Recommendations For 02-06-2008

Nifty Futures were down marginally with fresh short build up added 19 lakh shares in OI.
Nifty futures ended at discount of 22 points Vs premium of 23 point ends in Previous Day Trade.
Nifty 4800 put added 8.6 lakh shares; Nifty 4700 put added 7.2 lakh shares, Nifty 4900 call added 11.2 lakh shares; Nifty 5000 call added 8.6 lakh shares.

This week, Sensex and Nifty were down nearly 1.5%.
CNX Midcap Index was down 3%.BSE Small-cap Index was down 4.5%. BSE Bank Index was down 6.5%,BSE Auto Index was down 5.6%.BSE Oil & Gas Index was down 5.5%,BSE IT Index was up 6.5%.BSE Healthcare Index was up 4%.

Trader would be guess wither Its a break on 4800 on the way down or break of 5000 on the way up.Its frankly a toss of a coin with the market.

Markets show signs of going up, may test 4950. Unable to sustain at higher level will lead to another slide. Market is keenly waiting for Fuel Price Decision, Monsoon arrival.
In Contrast any negative news flow from International and Domestic will trigger heavy sell off.
We advice Trader's to remain Cautious on every rise and Book Profit at Higher Level and remain in Cash.Nifty faces resistance at the 4899 and 5025 levels while 4647 and 4482 are its important support levels.
Sensex faces resistance at the 16608 and 17300 levels but has support at the 16372 and 15699 levels.

ALERT : Stay on sidelines as lot of -ve news yet to come. Overall global cues don't look good.FIIs don't want to loose on rupee depreciation.

ALERT: Every higher level it will be a good opportunity to exit. lot of FII selling going on. So dont buy in a gap-up opening. Trader would be guess wither .

Its a break on 4800 on the way down or break of 5000 on the way up.Its frankly a toss of a coin with the market.16200-16800 is crucial range for market.

For 2nd JUNE,2008

NIFTYFUT 4850.10(Close), 4877.06(Pivot)

Resistances (UP MOVE) : 4905, 4926, 4949, 4972, 4997, 5022 ( Senxex :16535 /16640 )

Supports (DOWN MOVE) : 4854, 4831, 4806, 4785, 4758, 4730 ( Sensex : 16530 / 16650)

(POSITIONAL) Sell NIFTY Below @ 4865 Target 4810-4754 to 4642. SSL 4985.

Sell ACC Below @ 658 Target 652-640 to 616. SSL 686.

Sell GNFC Below @ 151 Target 149-145 to 136. SSL 162.

Sell PNB Below @ 487 Target 477-464 to 437. SSL 520

Buy SATYAM COMPUTOR Above 525 ,Tgt :535-541-547 ,Sl :514

Buy HCC Tgt :124-127-131+,Sl : 109

Buy DIVIS Tgt 1521-1540

Buy AXIS BANK Tgt : 825-827 ,Sl : 771

Buy MINDTREE Tgt 498-510 STOP LOSS 452

BUY ONMOBILE TGT : 682-712-724 ,Sl :644

Sell MUNDRA Below 765 ,Tgt : 752-735-715-708

Sell IND INFOLINE Below 705, Tgt : 682-671-660

Sell ORCHID Below 240 ,Tgt : 234-224-210 ,SL : 249-253

Buy SAIL ABove @ 163 Target 167-172 to 183. SSL 150.

Buy STER Above @ 939 Target 960-981 to 1032. SSL878

Buy AKRUTI Above @ 973 Target 998-1026 to 1092. SSL 925.

Buy FORTIS Above @ 81 Target 86-91 to 102. SSL 67

IBSEC

BUY ABOVE 106.25 SL 105.30 Tar 107.35 - 109.00
SELL BELOW 104.15 SL 105.10 Tar 103.15 - 101.55

STER

BUY ABOVE 945.90 SL 937.35 Tar 955.35- 970.15
SELL BELOW 927.15 SL 935.50 Tar 917.90 - 903.65

Some delivery scripts for SHORT TERM and MEDIUM TERM.Please Keep STRICT STOPLOSS

Tips of Month : Buy RANBAXY at 515-525 with target price of 575 to 589 +level. Keep a stop loss of daily closing below 497.

Buy SINTEX, Sl : 370,Tgt ; 460;

Buy HIND OIL EXPO, Sl : 131,Tgt : 144/160.

Buy DLF good above 610 if closed;

Buy PHILIP CARBON Sl : 169 ,Tgt : 206;

Buy BHARATI SHIPYARD, Close Abv 500,buy for delivery Sl : 460,Tgt : 525,Longterm : 750/780

Buy SATYAM COMPUTER good for delivery Sl 500.

Buy BIHAR TUBE ,Sl is closing rate only.

Buy LT Sl : 2800,Tgt : 3141,3289,3500+

Buy CAIRN FUT Above 305 only.
Sell On Rise To 290/295 Sl : 302.
If Trades Below 280 Can Come Down To 270 - 260 Levels Also.

Buy BHARTARTL @ 872,Sl : 855,Tgt : 910,934,970+

Sell UNITECH FUT@ 245 Sl : 255,TGT : 222,208

Buy UNIENTER Above 44 Sl : 42 Tgt : 47-50.

(POSITIONAL) Buy RNRL 100 & Below,Sl : 85 Tgt : 175, HOLD FOR SHORT TERM

(POSITIONAL) Buy ADLABS 620 & Below, Sl : 500 ,Tgt : 1000 , HOLD FOR SHORT TERM

Buy HCL TECH FUT Above 312 ,Sl : 306, Tgt : 322/28 ,(Hold 3-5 Days)

Buy RAYMONDS Sl : 220,Tgt : 310-340 (Close 265)