INTRADAY TIPS FOR 20 AUGUST 2009

GOOD MORNING!!!

KEY BENCHMARK INDICES EDGED LOWER IN CHOPPY TRADE AS WORLD STOCKSFELL LED BY A SHARP SLIDE IN CHINESE STOCKS. CLOSER HOME, SCANTYRAINS, CRUCIAL FOR INDIA'S DOMESTIC DEMAND DRIVEN ECONOMY, WEIGHEDON INVESTOR SENTIMENT. VOLATILITY IN INDEX HEAVYWEIGHT RELIANCEINDUSTRIES (RIL) CAUSED VOLATILITY IN SENSEX IN THE LATTER PART OFTHE TRADING SESSION. METAL, OIL & GAS AND REALTY STOCKS LED THE DECLINE.
NEGATIVE FACTORS FOR OUR MARKETS IN THE SHORT TERM ARE

1. WEAK MANSOONS
2. DECLINE IN EXPORTS
3. WEAK ECONOMIC DATA
4. CHINA EFFECT
5. CONCERNS ON SWINE FLU
ONE IS ADVICED TO STAY WITH THE TREND THAN JUST GOING ON AN INTRADAY VOLATILITY

TODAY MARKET WOULD BE VOLATILE ON A POSITIVE OPENING BUT OVERALL HEALTH OF THE MARKET REMAINS STILL BEARISH SO ONE IS ADVISED TO STAY CAUTIOUS ON HOLDING PERSPECTIVE AND ON INTRADAY BASIS ONE HAS TO SEE 4392 LEVEL FOR SHORTING FOR A TARGET OF 4350 AND 4230 AND ON THE UPSIDE ONE HAS TO SEE ABOVE 4431 IT CAN REACH 4471 AND BREAK ABOVE THIS POINT WILL LEAD MARKET TO 4495. WATCH POWER STOCKS

BUY ICICI BANK SL 711 TGT 733/746
BUY TATASTEEL SL 430 TGT 440/446
BUY ABAN SL 1101 TGT 1125/1135/1145
BUY LT SL 1475 TGT 1505/1537
POSITIONAL TRADES
BUY SWAN MILLS TGT 100/125
BUY ANSAL BUILDWELL TGT 60