INTRADAY TIPS FOR 04 NOVEMBER 2009

GOOD MORNING!!!

ALL THE INDICES EXTENDED LOSSES FOR SIXTH STRAIGHT SESSION OF TRADE AS SELL-OFF GRIPPED IN INDEX PIVOTALS IN LATE TRADE. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES (RIL) SLUMPED OVER 6% ON REPORTS THE COMPTROLLER AND AUDITOR GENERAL (CAG) HAS SET UP A TEAM TO EXAMINE THE EXPENSES RELIANCE INDUSTRIES (RIL) INCURRED ON ITS D6 NATURAL GAS FIELD IN THE KRISHNA-GODAVARI (KG) BASIN IN THE BAY OF BENGAL. STOCKS FELL ACROSS THE GLOBE AS INVESTORS CONTINUED TO FRET OVER THE EARLY REMOVAL OF GOVERNMENT STIMULUS, PARTICULARLY IN THE FINANCIAL SECTOR. HIGH VOLATILITY WAS THE HALLMARK OF THE DAY'S TRADING SESSION. THE MARKET BREADTH WAS QUITE WEAK. SELLING PRESSURE WAS INTENSE WITH ALL THE SECTORAL INDICES ENDING WITH LOSSES. REALTY, CEMENT AND METAL SHARES DECLINED SHARPLY ON SELLING PRESSURE. IT STOCKS SLIPPED ON PROFIT BOOKING. TELECOM SHARES SAW DIVERGENT TREND WITH BHARTI AIRTEL REBOUNDING FROM A 52-WEEK LOW ON BARGAIN HUNTING AFTER A STEEP RECENT SLIDE. RELIANCE COMMUNICATIONS DROPPED ON POOR EARNINGS.
TODAY MARKETS WOULD OPEN GAP UP WITH GLOBAL QUES.. NIFTY HAS BREACHED THE KEY SUPPORT OF 4591 THE NEXT LEVEL FOR NIFTY IS AROUND 4384 SO ONE IS CAUTIONED TO STAY AWAY FROM LONGS AS NIFTY MAY DIP FURTHER, NIFTY MAY TAKE RESISTANCE AT 4740 LEVELS. ONE CAN STAY SHORT AROUND THIS LEVEL WITH 4740 AS STOPLOSS. ANY UPSIDE CAN BE USED AS A SELLING OPPORTUNITY WITH STOPLOSS AS 4740.

ALL THESE RECOMMENDATIONS ARE FOR INTRADAY FOLLOW STRICT STOPLOSSES
BUY LICHSG SL 678 TGT 720/739
BUY YESBANK SL 214 TGT 221/226/234
BUY BREAL SL 207 TGT 220/226/232
BUY ACC BELOW SL 694 TGT 715/728/744

BUY DLF SL 339 TGT 347/356/362