INTRADAY TIPS FOR 18 AUGUST 2010

GOOD MORNING!!!

INDICES HAVE MANAGED TO CLOSE FLAT AFTER TRADING ON A POSITIVE AND NEGATIVE TERRIAN FOR THE ENTIRE DAY. EARLIER IN THE DAY MARKET EDGED HIGHER IN EARLY TRADE AS US INDEX FUTURES ROSE THERE AFTER MARKET WAS VOLATILE. MARKET RECOVERED FROM NEGATIVE ZONE TO POSITIVE TRACKING FIRM EUROPEAN STOCKS AND US INDEX FUTURES. FMCG STOCKS ROSE. BUT, IT STOCKS FELL AS TEPID US CONSUMER DATA REIGNITED FEARS ABOUT SLOWER US GROWTH SINCE US IS THE BIGGEST MARKET FOR INDIAN IT FIRMS. BANKING STOCKS ROSE. THE MARKET BREADTH WAS NEGATIVE IN CONTRAST TO A STRONG BREADTH EARLIER IN THE DAY.

TODAY MARKETS LOOK POSITIVE ON THE POSITIVE OUT LOOK OF ASIAN MARKETS AND STRONG CLOSING OF US AND EUROPEAN MARKETS. TODAY IF NIFTY TRADES ABOVE 5440 THEN LIKELY TO MAKE AN UPMOVE TO 5470 LELVELS AND ANY BREAK ABOVE 5476 WOULD TAKE NIFTY TO 5490 LEVELS AND ANY TRADE ABOVE 5500 WOULD TAKE NIFTY TO 5560. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5419 THEN LIKELY TO COME DOWN TO 5397 LEVELS AND BREAK BELOW 5397 WOULD TAKE NIFTY TO 5360 LEVELS. STAY CAUTIOUS AT HIGHER LEVELS.

BUY ITC SL 159.65 TGT 160.8/162.2/162.85
BUY HIND PETRO SL 490 TGT 502.3/510/514.85*
BUY HAVELLS SL 809 TGT 834/851/872 (SHORT TERM 920)
BUY UNITED BREWERIES SL 354 TGT 373/385/394 (MEDIUM TERM 550/690)
BUY BANK OF BARODA SL 827 TGT 845/861/871 (SHORT TERM 922)
BUY IDBI SL 128 TGT 131/132.7/133.9 (SHORT TERM 137/150)
POSITIONAL TRADES
BUY IOC TGT 425/470
BUY CANARA BANK TGT 600/750
BUY UCO BANK TGT 130/175
BUY SAREGAMA TGT 150/180