POSITIVE OPENING COULD NOT REALLY WITHSTAND IN THE INITIAL START OF THE MARKETS, MARKETS DECLINED AFTER THE REVERSAL OF SOME ASIAN MARKETS, MARKET HOVERED BETWEEN POSITIVE AND NEGATIVE TERRAIN NEAR TO THE FLATLINE TILL MID AFTERNOON AND LATER BULLS TOOK COMPLETE CONTROL OF THE MARKET CAPTIVATING AND EDGED HIGHER GAINS AND ATTAINED THEIR HIGHEST CLOSING LEVELS IN THE NEAR TWO MONTHS PERIOD THIS RISE IS ALSO TRIGGERED BY GOOD IIP NUMBERS ALONG WITH ENCOURAGING ADVANCE TAX FIGURES INDICATEING BETTER FOURTH QUARTER RESULTS. METAL, CAPITAL GOODS, AUTO AND CONSUMER DURABLES STOCKS ROSE. RELIANCE INDUSTRIES AND L&T SURGED WHICH TOOK MARKETS TO NEW HEIGHTS. THE MARKET BREADTH WAS STRONG. THE Q4 MARCH 2010 ADVANCE TAX PAYMENT NUMBERS OF TOP INDIAN FIRMS WERE ENCOURAGING. RELIANCE INDUSTRIES HAS PAID RS 770 CRORE AS ADVANCE TAX FOR THE MARCH QUARTER COMPARED WITH RS 365 CRORE A YEAR AGO. INFOSYS' TAX OUTGO HAS DOUBLED TO RS 250 CRORE FROM RS 125 CRORE. TATA CONSULTANCY SERVICES PAID RS 178 CRORE, COMPARED FROM RS 53 CRORE EARLIER. STATE-RUN UNION BANK OF INDIA PAID RS 185 CRORE COMPARED WITH RS 253 CRORE A YEAR AGO. ICICI BANK'S Q3 ADVANCE TAX STOOD AT RS 350 CRORE VERSUS RS 250 CRORE A YEAR AGO. ASIAN PAINTS PAID RS 60 CRORE, VERSUS RS 43 CRORE YEAR EARLIER. STATE BANK OF INDIA HAS PAID RS 1857 CRORE VERSES RS 1810. HDFC PAID RS 280 CRORE, UNCHANGED FROM A YEAR EARLIER. TATA MOTORS PAID RS 115 CRORE VERSUS NIL A YEAR AGO. BANK OF BARODA PAID RS 300 CRORE VERSES RS 280. ZEE ENTERTAINMENT ENTERPRISES PAID RS 97 CRORE VERSUS RS 109. TATA STEEL PAID RS 513 CRORE VERSUS RS 406 CRORE. L&T PAID RS 270 CRORE VERSUS RS 275 CRORE. BAJAJ AUTO PAID RS 177 CRORE VERSUS RS 60 CRORE. M&M PAID RS 235 CRORE VERSUS NIL A YEAR EARLIER. CEMENT MAKER ACC PAID RS 330 CRORE COMPARED TO RS 340 CRORE A YEAR AGO. AMBUJA CEMENT PAID RS 120 CRORE, COMPARED WITH RS 125 CRORE A YEAR AGO. ADITYA BIRLA GROUP FIRM GRASIM INDUSTRIES PAID RS 216 CRORE AS ADVANCE TAX IN THE PERIOD UNDER REVIEW, AS COMPARED TO RS 65 CRORE A YEAR AGO. LIFE INSURANCE CORP OF INDIA (LIC) HAS PAID RS 864 CRORE AS ADVANCE TAX FOR THE MARCH QUARTER, COMPARED WITH RS 810 CRORE YEAR AGO.
TODAY MARKET WOULD OPEN POSITIVE AND TRADE ABOVE 5200 WOULD TAKE NIFTY TO 5230 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5250 AND ANY CLOSE ABOVE 5250 IS CONSIDERED TO BE BULLISH AND WILL GO BEYONG 52 WEEK HIGH. AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5170 THEN LIKELY TO COME DOWN TO 5140 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 5100 AND TILL NIFTY CLOSES BELOW 5100 WE CANT CONSIDERED TO BE WEAK, SO WATCH CAREFULLY.

BUY HPCL SL 329 TGT 340/344/347
BUY TATA Steel SL 624 TGT 635/639/645
BUY DLF SL 309 TGT 316/320/324