INTRADAY TIPS FOR 13 JULY 2010

GOOD MORNING!!!

INDICES SURGED TO A NEW HIGHS WITH NIFTY SCALING TO A 29 MONTH HIGH JUST BEFORE THE INDUSTRIAL PRODUCTION DATA. THE RALLY WAS SUPPORTED MAJORILY BY REALITY AND IT. THE INDUSTRIAL PRODUCTION IN THE MONTH OF MAY 2010 ROSE AT A MUCH SLOWER THAN EXPECTED PACE. EXPECTATION OF ANOTHER 25 BASIS POINTS HIKE IN THE KEY INTEREST RATES BY THE CENTRAL BACK AT A POLICY REVIEW LATER THIS MONTH TO CONTROL INFLATIONARY EXPECTATIONS WOULD ALSO PAVE A WAY FOR CONSOLIDATION FOR TIME BEING.

TODAY MARKETS WOULD BE IN A RANGE BOUND. MARKET MAY BE VOLATILE STAY CAUTIOUS, ALL EYES ON INFOSYS RESULTS FOR TODAY. IF NIFTY TRADES ABOVE 5400 ONE IS ADVISED TO GO LONG WITH A TARGET OF 5440 AND BREAK ABOVE 5450 LIKELY TO MAKE AN UPMOVE TO 5500 LEVELS AND ON THE DOWN SIDE IF NIFTY TRADES BELOW 5365 THEN ONE CAN SEE NIFTY TO SLIDE DOWN TO 5340 LEVELS AND BREAK AND TRADES BELOW THIS LEVEL WOULD DRAG NIFTY TO 5320 LEVELS.

BUY CAIRN SL 310 TGT 315/319/321
BUY EDUCOMP SL 575 TGT 588/597/612
BUY ROLTA SL 183 TGT 186/189/191
BUY JETAIRWAYS SL 594 TGT 612/623/638
BUY MPHASIS SL 634 TGT 647/653/664

POSITIONAL TRADES
BUY BHARATFORG TGT 410
BUY NAGREEKA CAP AND INFR TGT 60