WEEKLY RECOMMENDATIONS

S&P Nifty (5766.50 points) (-281.20 pts)
The Bears domination prevailed through out the week with the Nifty losing around
5%. Prior indications were seen on the charts hence timely caution was advocated
in the last week’s report which said “Though the Nifty scaled new highs, the Heavy
weights look to be exhausted or rather overstretched; In the week ahead it would be
advisable to book profits in rallies or at best protect their gains with a strict trailing stop loss or by hedging with options”.

Among the Sectoral Indices, Metal, PSU and Oil& Gas sectors experienced
maximum profit taking and some speculative selling. Sugar & Media scrips stood out
while action in IT scrips on the last day arrested the fall. In this process the Nifty has retraced 61.8% of the rise from 5395 points to 6185 points. It has closed marginally below the trendline support in green. A quick move above 5876 points would
indicate that the selling force is exhausted for the time being (4-5 days). To regain
up momentum it has to decisively cross 6115 points.

From an immediate scenario, 5777 points is the pivot in the Nifty. The 5852 and
5995-6015 points are the hurdles the Bulls need to fight out on the upsides.
Supports in declines are pegged at 5665 and 5605 points. Rallies should be utilized
for booking profits or at best be light in longs in the coming weeks. High risk traders can enter in dips from a trading perspective only and for small gains. With a curtailed week and F&O expiry ahead; markets are expected to remain volatile.


THIS WEEK'S RECOMMENDATIONS :-


BUY GLAXO @ 975 SL 957 TGT 1065-1085

BUY CMC @ 1190 SL 1151 TGT 1240-1280

BUY NIIT @ 137 SL 130 TGT 146-158

BUY GUJ ALKALI @ 246 SL 234 TGT 256-269

BUY STERLING BIO @ 166 SL 161 TGT 175-180

BUY HINDALCO @ 199 SL 192 TGT 213-218-228

BUY NUCLEUS SOFT @ 350 SL 332 TGT 375-385

BUY DLF @ 945 SL 916 TGT 961 -1007

BUY RIL @2700 SL 2665 TGT 2748-2778-2818

Buy –J.B.CHEM. BINDAL AGRO,SHRI BAJRANG ALLOYS,KEW IND.,SATHAVAHANA ISPAT ,KIRLOSKER FERROUS , BDH IND., SONATA SOFT, ALEMBIC LTD , ROYAL ORCHID, also looking good ....Buy on declines...)