INTRADAY TIPS FOR 21 DECEMBER 2009

GOOD MORNING!!!

THE KEY BENCHMARK INDICES EXTENDED LOSSES IN LATE TRADE ON SPECULATION THE CENTRAL BANK WOULD TIGHTEN MONETARY POLICY TO HELP STEM RISING PRICES. THE YIELD ON THE 10-YEAR BENCHMARK BOND ROSE TO 7.7%, MATCHING A 13-MONTH HIGH HIT ON 11 DECEMBER 2009., RELIANCE INDUSTRIES AND ICICI BANK, SLUMPED. FMCG, BANKING AND REALTY STOCKS FELL. INTRADAY VOLATILITY WAS HIGH. THE MARKET CUT LOSSES SOON AFTER AN EARLY SLIDE. THE MARKET CAME OFF THE HIGHER LEVEL LATER. THE MARKET RECOVERED FROM LOWER LEVEL AFTER HITTING A FRESH INTRADAY LOW IN MORNING TRADE. THE MARKET SLUMPED, REVERSING COURSE AFTER MOVING INTO POSITIVE ZONE FROM NEGATIVE ZONE FOR A SHORT WHILE IN AFTERNOON TRADE. THE MARKET EXTENDED LOSSES IN LATE TRADE WITH THE SENSEX ENDING AT THE LOWEST LEVEL OF THE DAY.
TODAY MARKET WOULD BE VOLATILE AND RANGE BOUND AND MARKET IS EXPECTED TO BE RANGE BOUND FOR A SHORT PERIOD HERE. NIFTY IF BREAKS AND TRADES BELOW 4940 THEN ONE CAN REMAIN SHORT WITH A STOPLOSS OF 5004 AND ANY CLOSE BELOW 4940 IS CONSIDERED TO BE VERY CRUCIAL ONE CAN STAY IN SHORTS AND CARRY THEM FOR THE NEXT TRADING SESSIONS AS WELL. IF NIFTY CLOSES BELOW 4940 THEN LIKELY TO TEST 4800 LEVELS. AND ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 4996 THEN LIKELY TO MOVE UP TO 5027 AND 5040 AND BREAK ABOVE 5040 THEN LIKELY TO MOVE UP TO 5059 AND ANY CLOSE ABOVE 5059 IS CONSIDERED TO BE VERY GOOD.
BUY WIPRO SL 670 TGT 682/685
BUY TATAMOTORS ABOVE 731 SL 727 TGT 739/746/751/758
BUY ABB ABOVE 763 SL 759 TGT 769/774

BUY TRIVENI ENGG SL 103 TGT 110/113/116

BUY IBREAL SL 204 TGT 212/215