GOOD MORNING!!!

THE MARKET CUT LOSSES AFTER A WEAK START. IT FURTHER TIMED LOSSES IN MORNING TRADE. IT EXTENDED RECOVERY IN MID-MORNING TRADE. INDICES WERE MARGINALLY LOWER IN EARLY AFTERNOON TRADE. IT WEAKENED ONCE AGAIN LATER TRACKING A SUBDUED GLOBAL INDICES. REALITY AND AUTO STOCKS FELL. WITH THE CENTRAL BANK RAISING THE REPO RATE, THE RATE AT WHICH IT LENDS TO BANKS TO 5% FROM 4.75% AND REVERSE REPO RATE, THE RATE WHICH IT ABSORBS FUNDS FROM THE SYSTEM TO 3.50% FROM 3.25% WITH IMMEDIATE EFFECT. INDIA IS THE SECOND MAJOR ECONOMY AFTER AUSTRALIA TO START RAISING INTEREST RATES WITH SIGNS OF GLOBAL RECOVERY EMERGING AND LOCAL PRICE PRESSURES PICKING UP. CHINA HAS RAISED ITS BANKS' RESERVE REQUIREMENTS BUT HAS LEFT ITS RATES UNCHANGED.

TODAY MARKET LOOKS FLAT TO POSITIVE WE MAY SEE LOT OF VOLATILITY IN THE MARKET AHEAD OF EXPIRY AS TOMORROW BEING A HOLIDAY WE MAY SEE LOT OF VOLATILITY TODAY AND DAY AFTER TOMORROW AS TRADERS ROLL OVER THEIR POSITIONS FROM THIS MONTH TO THE NEXT MONTH CONTRACT. NIFTY MAY OPEN GAP UP OF AROUND 25 POINTS AND IF NIFTY TRADES ABOVE 5232 THEN LIKELY TO MOVE AHEAD TO 5251 AND TRADE ABOVE THIS POINT WOULD LEAD NIFTY TO 5284 ANY CLOSE ABOVE 5251 IS CONSIDERED GOOD AND WE MAY SEE NIFTY TO MOVE TO NEW HIGHS OF THE YEAR. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5200 THEN LIKELY TO DRIFT DOWN TO 5150 AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY 5102 AND ANY CLOSE BELOW 5150 IS WEAK AND REVERSAL OF TREND.

BUY SPARC (SUNPHARMA ADVANCED RESEARCH CENTRE) SL 92 TGT 99/102/105
BUY PUNJLLOYD SL 174 TGT 178/180/182
BUY JSW STEEL SL 1215 TGT 1249/1259/1268

BUY CHAMBALFERT SL 61.80 TGT 63.4/64.8/65.70 (ONE CAN HOLD)

POSITIONAL CALL
BUY FORCE MOTOR SL 372 TGT 395/401/410 (POSITIONAL TGT 500)