INTRADAY TIPS FOR 20 JANUARY 2010

GOOD MORNING!!!

INDICES HAVE HIT FRESH LOWS DURING THE LATE TRADE ON WEAKNESS IN WORLD STOCKS. IT, REALTY, AUTO AND HEALTHCARE STOCKS FELL. BUT BANKING STOCKS ROSE. THE MARKET BREADTH WAS WEAK. THE BREADTH WAS STRONG EARLIER IN THE DAY. VOLATILITY WAS HIGH. THE MARKET MOVED BETWEEN POSITIVE AND NEGATIVE ZONE EARLIER IN THE TRADING SESSION AND RECOVERED TO SLIGHTLY POSITIVE ZONE BUT THE INTRADAY RECOVERY PROVED SHORT LIVED. THE MARKET WEAKENED IN MID-MORNING TRADE. A SELL-OFF WAS WITNESSED LATER. THE MARKET EXTENDED LOSSES IN LATE TRADE TRACKING WEAK EUROPEAN STOCKS.

TODAY MARKET WOULD OPEN POSITIVE TO FLAT AND TRADE IN NARROW RANGE BOUND UNTIL NIFTY BREACHES 5197 ONE CAN STILL REMAIN IN POSITIVE SIDE OF THE NIFTY IF NIFTY TRADES 5238 THEN LIKELY TO TEST 5276 LEVELS AND TRADE ABOVE 5276 WOULD LEAD NIFTY TO 5290 WHICH IS VERY CRUCIAL LEVEL FOR NOW IN NIFTY UNLESS AND UNTIL WE SEE CLOSING ABOVE 5290 ONLY THEN WE CAN SEE A GOOD MOVE. IF NIFTY TRADES BREAKS 5197 THEN LIKELY TO COME DOWN TO 5168 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY 5087 ANY CLOSE BELOW 5197 IS CONSIDERED TO BE WEAK AND WOULD ADVISE TO EXIT LONGS AND CONVERT TO SHORTS.
BUY YESBANK SL 279 TGT 287/292.75
BUY CHAMBALFERT SL 70.4 TGT 72/75
BUY PATEL ENGG SL 472 TGT 490/494/497
POSITIONAL CALLS
BUY EMPEE DIS AT 138 TGT 100%

BUY EPC INDS AT 64+ TGT 100%/150%