INTRADAY TIPS FOR 16 SEPTEMBER 2010

GOOD MORNING!!!

INDICES GAINED YET AGAIN FOR THE STRAIGHT SEVENTH DAY ON HEAVY BUYING BY FOREIGN FUNDS. INDICES OPENED HIGHER HITTING FRESH 32 MONTH HIGH ON THE INDICES AND THEN MARKET PAIRED GAINS AND REMAINED VOLATILE TILL THE END OF THE SESSION AFTER A BOUNCE BANK. WE HAVE SEEN HEAVY WEIGHT RELIANCE EDGED HIGHER AND ICICI BANK REVERSING ITS GAINS, WE HAVE WITNESSED BUYING INTEREST IN IT, FMCG AND METAL STOCKS WHILE AUTO DECLINED BUT MAJORITY OF THE SECTORAL INDICIES WERE IN GREEN. WE HAVE SEEN RS 7092.04 CRORE IN THE FIRST FEW DAY IN THIS MONTH WHICH TOTALED RS 26587.14 CRORES. THE NEXT TRIGGERS IN THE MARKET WOULD BE ADVANCED TAX AND THE OTHER ONE WOULD BE THE CENTRAL BANK MID TERM POLICY REVIEW EXPECTED TO BE TODAY.

TODAY WE MAY SEE NIFTY TO OPEN NEGATIVE ON THE CONCERNS OF CENTRAL BANK POLICY REVIEW WE MAY ALSO SEE BANKING STOCKS TO REMIAN UNDER PRESSURE. IF NIFTY TRADES BELOW 5842 THEN WE MAY SEE NIFTY TO DECLINE TO 5816 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 5792 LEVELS AND ANY CLOSE BELOW 5792 WOULD DRAG DOWN TO 5760 LEVELS. ON THE UPSIDE IF NIFTY TRADES ABOVE 5875 THEN LIKELY TO INCLINE TO 5900 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD FACE RESISTANCE AT 5920 LEVELS ANY CLOSE ABOVE 5900 WILL TAKE NIFTY TO 5976 LEVELS. STAY CAUTIOUS ON THE UPSIDE.

BUY FT SL 1414 TGT 1446/1467/1497 (SHORT TERM 1550)
BUY SIEMENS ABOVE 763 SL 758 TGT 769/776/785
POSITIONAL TRADES
BUY LIC HSG TGT 1500
BUY SIEMENS TGT 814