INTRADAY TIPS FOR 18 NOVEMBER 2009

GOOD MORNING!!!

INDICES CLOSED MARGINALLY HIGHER AFTER A STRONG INTRADAY REBOUND IN LATE TRADE. RECOVERY IN EUROPEAN STOCKS FROM LOWER LEVEL TRIGGERED THE STRONG REBOUND ON THE DOMESTIC BOURSES IN LATE TRADE. THE SENSEX REGAINED THE PSYCHOLOGICAL 17,000 MARK AFTER FALLING BELOW THAT LEVEL IN INTRADAY TRADE INTRADAY VOLATILITY WAS ON THE BOURSES WAS HIGH. AFTER INITIAL GAINS, THE MARKET SOON SLIPPED INTO THE RED ON LOWER ASIAN STOCKS. A STRONG REBOUND PUSHED THE SENSEX INTO THE GREEN IN LATE TRADE AS EUROPEAN STOCKS AND US INDEX FUTURES TRIMMED LOSSES. MREALTY STOCKS FELL. BUT IT STOCKS GALLOPED. BANKING STOCKS REVERSED INTRADAY LOSSES. THE MARKET BREADTH WAS NEGATIVE. THE MARKET HAS RISEN SHARPLY IN THE PAST FEW DAYS. THE RALLY HAS BEEN DRIVEN BY STRONG DOMESTIC AND GLOBAL LIQUIDITY. FOREIGN FUNDS HAVE BOUGHT EQUITIES WORTH A NET RS 72659.10 CRORE IN CALENDAR 2009 SO FAR AS AGAINST AN OUTFLOW OF RS 51611.50 CRORE IN THE CORRESPONDING PERIOD LAST YEAR.
TODAY MARKET WOULD REMAIN RANGE BOUND. IF NIFTY TRADES ABOVE 5077 THEN IT IS LIKELY TO TEST 5100 ZONE AND BREAK ABOVE THIS POINT WE CAN SEE NIFTY TO HEAD TOWARDS 5154 AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5035 THEN IT IS LIKELY TO COME DOWN TO 5015 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 4990 AND THEN TO 4956 ANY BREAK BELOW 4990 IS CONSIDERED TO BE CRUCIAL AND CLOSING BELOW 4990 ONE CAN REMAIN IN SHORT.
BUY RELINFRA SL 1180 TGT 1210/1218
BUY HDFCBANK SL 1744 TGT 1761/1775/1783
BUY ICICI BANK SL 918 TGT 932/948
BUY TATAPOWER SL 1319 TGT 1340/1357
BUY NAGARFERT SL 30.7 TGT 31.5/32
POSITIONAL TRADES
BUY ODYSSEY TECHNOLOGIES LTD TGT 100%