INTRADAY TIPS FOR 09 NOVEMBER 2010

GOOD MORNING!!!

THE MARKET JUMPED IN EARLY TRADE AND STARTED GIVING AWAY THE GAINS TO HIT FRESH INTRADAY LOWS IN MORNING TRADE. STOCKS STARTED GIVING AWAY THEIR GAINS. WEAKNESS CONTINUED IN EARLY AFTERNOON. THOUGH OBAMA VISIT WAS GOOD DIDN’T HAVE A POSITIVE IMPACT ON THE MARKETS. MARKETS WERE DOWN BY AFTERNOON TRADE AND WHEN THE PRIME MINISTER AND PRESIDENT GAVE A MEDIA PRESENTATION MARKETS STARTED RECOVERING AND HAVE RECOVERED TO THE MAXIMUM AND IT PROVED TO BE SHORT LIVED AND STARTED DECLINING SOON AFTER THAT AND COULDN’T HOLD THE RECOVERY. MARKET BREADTH WAS WEAK AND CLOSED IN A LOWER LOWS. THOUGH MARKETS WERE DOWN THERE WERE NO VOLUMES.

TODAY MARKETS MAY OPEN FLAT. MARKETS MAY BE VERY RANGE BOUND. IF NIFTY TRADES ABOVE 6311 THEN LIKELY TO MOVE UP TO 6328 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6350 AND ANY BREAK ABOVE 6350 WOULD TAKE NIFTY TO 6398 LEVELS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6278 THEN MARKETS LIKELY TO COME DOWN TO 6260 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY TO 6240 LEVELS. ONE IS ADVISED TO EXIT LONG IT NIFTY CLOSES BELOW 6270 LEVELS AND STAY SHORT. THERE WOULD BE STOCK SPECIFIC MOVES, WE MAY SEE MID CAP STOCKS MOVING ALONG WITH SMALL CAPS.

BUY AMBUJA CEM SL 162 TGT 167/170/172.70
BUY BAJAJ HINDUSTAN SL 139 TGT 144/147/149
BUY JP ASSOCIATES SL 137 TGT 140.70/142.50/144
BUY MIRZA INTERNATIONAL SL 24.40 TGT 26/27/27.60 (SHORT TERM 35)*
BUY JUBL FOOD SL 614 TGT 650/660/677*
SELL SBI SL 3441 TGT 3410/3390/3371

POSITIONAL TRADES
BUY IFCI TGT 100