INTRADAY TIPS FOR 04 AUGUST 2009

GOOD MORNING!!!

THE KEY BENCHMARK INDICES ROSE FOR THE THIRD SESSION IN A ROW, HELPED BY FIRM EUROPEAN STOCKS AND HIGHER US INDEX FUTURES. SIGN OF RECOVERY IN THE INDIAN ECONOMY, WITH BETTER-THAN-EXPECTED Q1 JUNE 2009 RESULTS FROM INDIA INC WHICH JUST GOT OVER AND BUYING BY FOREIGN FUNDS UNDERPINNED SENTIMENT. THE BAROMETER INDEX BSE SENSEX AND THE 50-UNIT S&P CNX NIFTY, BOTH ATTAINED THEIR HIGHEST CLOSING LEVEL IN 14 MONTHS. THE SENSEX HAS RISEN 750.77 POINTS AROUND 5% IN LAST THREE TRADING SESSIONS. SECTORS LIKE AUTO ROSE ON SALES AND METAL SECTOR ROSE ON FIRM LME TRADING AND WITH REALITY SECTOR ADDING ITS SHARE IN UPSIDE, RELIANCE BOOSTED THE INDEX FURTHER TO A NEW HIGHS. MARKET REMAINED IN A VERY BULLISH ZONE.

MARKETS TODAY WILL BE VOLATILE WITH POSITIVE BIAS AND IS EXPECTED TO GO TO NEW HEIGHTS. TODAY IF NIFTY TRADES ABOVE 4740 THEN IS EXPECTED TO MOVE TO 4785 AND THEN BREAK ABOVE THIS LEVEL IS EXPECTED TO MOVE TO 4807 SUSTAINING ABOVE 4807 MARKET MAY SEE VERY STRONG RALLY UPTO 4970 LEVELS ONE CAN MOVE THEIR STOPLOSS TO THE LEVELS INDICATED ON THE LONG SIDE AND ON THE DOWN SIDE IF MARKET TRADES BELOW 4693 THEN IT MAY GO TO 4650 AND THEN TO 4639 ONE CAN EXIT THEIR LONGS ONLY WHEN MARKET TRADES BELOW 4600 ON THE CLOSING BASIS.

BUY M&M 916 SL 906 TGT 930
BUY BHEL 2340 SL 2325 TGT 2362/2380
BUY HCL 252 SL 248 TGT 258/263
BUY UNITECH ABOVE 95 SL 93.6 TGT 97/100
BUY JSWSTEEL SL 733.5 TGT 765/.775
BUY ABAN SL 1110 TGT 1200/1230
BUY RCOM ABOVE 292 SL 288 TGT 297/301/306
BUY ONGC SL 1165 TGT 1194/1218
BUY CAIRN SL 242 TGT 248/251