INTRADAY TIPS FOR 13 JANUARY 2010

GOOD MORNING!!!

INDICES EDGED LOWER ON THE WORRIES THAT CENTRAL BANK WILL TIGHTEN THE MONETARY POLICY TO CURB INFLATION ON ROBUST INDUSTRIAL PRODUCTION DATA FOR NOVEMBER 2009 ALONG WITH THIS WEAK EUROPEAN STOCKS AND LOWER US INDEX FUTURES ALSO ADDED FUEL TO THE DECLINE. IT STOCKS BUCKED THE WEAK TREND AFTER STRONG Q3 DECEMBER 2009 RESULTS FROM IT BELLWETHER INFOSYS TECHNOLOGIES. FMCG, BANKING, REALTY AND METAL STOCKS FELL. THE MARKET BREADTH WAS WEAK IN CONTRAST TO A STRONG BREADTH EARLIER IN THE DAY. OVERALL MARKET WAS VOLATILE. IT TURNED NEGATIVE AFTER A FIRM OPENING TRIGGERED BY BETTER-THAN-EXPECTED Q3 DECEMBER 2009 RESULTS BY IT BELLWETHER INFOSYS WHICH WERE ANNOUNCED JUST BEFORE TRADING STARTED. IT RECOVERED FROM THE DAY'S LOW IN MORNING TRADE AFTER SOME ASIAN STOCKS REVERSED EARLY LOSSES. THE MARKET PARED GAINS AFTER HITTING FRESH INTRADAY DAY HIGH IN EARLY AFTERNOON TRADE. THE MARKET SLIPPED INTO THE RED IN AFTERNOON TRADE. THE MARKET EXTENDED LOSSES LATER.
TODAY WE MAY SEE SOME STOCK SPECIFIC MOVES ON NIFTY. IF NIFTY TRADES BELOW 5197 THEN IT WOULD LEAD MARKETS TO 5160 AND BREAK AND TRADE BELOW THIS POINT WOULD LEAD TO 5102 ONE IS ADVISED TO STAY CAUTIOUS ON LONG SIDE ABOVE 5197. ON THE UPSIDE IF NIFTY TRADES ABOVE 5220 THEN IT WILL MOVE TO 5250, IF NIFTY TRADES ABOVE 5250 THEN LIKELY TO MOVE UP TO 5276. METALS AND BANKING STOCKS LOOKS WEAK. IT WILL HOLD THE RALLY AND YOU MAY SEE SOME STOCK SPECIFIC MOVES.
BUY PFC SL 269 TGT 275/279
BUY M&M SL 1177 TGT 1196/1210
SELL TATA STEEL SL 629 TGT 616/611/606
SELL CAIRN SL 299 TGT 291/289/281