INTRADAY TIPS FOR 21 JANUARY 2010

GOOD MORNING!!!

KEY INDICES EDGED LOWER ON THE WEAK GLOBAL QUES IMPACTING THE SENTIMENTS OF THE INVESTORS. MARKET BREADTH WAS WEAK ALMOST ALL THE INDICES EDGED LOWER TRIGGERING THE SENTIMENT FROM POSITIVE TO NEGATIVE ZONE ALL THE SECTORAL INDICES LIKE REALITY, HEALTH CARE, PSU, FMCG, OIL EXPLORATION AND PSU FELL EXCEPT FOR THE METAL INDEX WHICH SHOT UP. ON A HIGHLY VOLATILE MARKET WE HAVE SEEN ONLY STOCK SPECIFIC MOVES
TODAY MARKET LOOKS WEAK ON GLOBAL FACTORS AS AMERICAN STOCK EXCHANGES COLLAPSED AND ASIAN INDICES TRENDING DOWNWARDS SO WE MAY EXPECT NIFTY TO OPEN GAP DOWN AND TAKE SUPPORT AROUND 5166 AND BREAK BELOW THIS LEVEL WOULD LEAD NIFTY TO FURTHER NEW LOWS AND WE EXPECT NIFTY TO COME DOWN TO 5069 IF NIFTY TRADES BELOW 5197 THEN WE CAN STAY SHORT. ON THE POSITIVE SIDE IF NIFTY CLOSES ABOVE 5270 ONLY THEN IT IS ADVISED TO GO LONG TILL THEN ITS NO TRADING ZONE.

BUY MARUTI SL 1450 TGT 1466/1470/1488
BUY TATASTEEL SL 643.8 TGT 657/666
BUY BHUSHANSTEEL SL 1679 TGT 1740
BUY DCHL SL 169 TGT 174/176
SELL RANBAXY 500 TGT 480/470/462
SELL AXIS BANK SL 1086 TGT 1075/1068/1052
SELL M&M SL 1160 TGT 1134/1120/1090
SELL JP HYDRO SL 79.45 TGT 76/74
SELL CENTURY SL 565.5 TGT 550/543/534
NOTE: TAKE BUY CALLS ONLY IF THE SCRIP TRADES ABOVE CLOSING PRICE AND SELL CALLS IF IT IS TRADING BELOW YESTERDAYS CLOSING.