INTRADAY TIPS FOR 29 NOVEMBER 2010

GOOD MORNING!!!

INTRADAY VOLATILITY WAS HIGH. THE MARKET REVERSED DIRECTION SOON AFTER A FIRM START. STOCKS TUMBLED IN MORNING TRADE. THE MARKET RECOVERED IN CHOPPY TRADE LATER AS THE SENSEX AND THE NIFTY CAME OFF TWO-MONTH LOWS. THE RECOVERY GATHERED STEAM IN EARLY AFTERNOON TRADE. THE KEY BENCHMARK INDICES ONCE AGAIN SLIPPED INTO THE RED AFTER TURNING POSITIVE FOR A BRIEF PERIOD IN AFTERNOON TRADE. THE SENSEX SWUNG BETWEEN GAINS AND LOSSES IN MID-AFTERNOON TRADE. THE MARKET WEAKENED AGAIN IN LATE TRADE. INDICES EXTENDED RECENT STEEP LOSSES AS A BANK LOANS BRIBERY SCANDAL AND WEAK GLOBAL STOCKS WEIGHED ON INVESTOR SENTIMENT. INTRADAY VOLATILITY WAS HIGH. WORLD STOCKS FELL AS WORRIES OVER SOVEREIGN-DEBT CONTAGION IN THE EURO ZONE CONTINUED TO ESCALATE. THE MARKET BREADTH WAS EXTREMELY WEAK WITH STOCKS OF A NUMBER OF SMALL AND MID-CAP SHARES FALLING SHARPLY. REALTY AND CONSTRUCTION SHARES SLUMPED, EXTENDING RECENT STEEP LOSSES. FOREIGN FUNDS SOLD EQUITIES WORTH A NET RS 1208.12 CRORE AND DOMESTIC INSTITUTIONAL INVESTORS BOUGHT SHARES WORTH RS 197.77 CRORE ON THURSDAY, 25 NOVEMBER 2010, AS PER PROVISIONAL DATA FROM THE STOCK EXCHANGES. YEAR-END PROFIT TAKING MAY CONTINUE TO WEIGH ON THE THE DOMESTIC BOURSES IN THE NEAR TERM. FUNDS BASED IN US AND EUROPE FOLLOW CALENDAR YEAR AS THEIR ACCOUNTING YEAR. THE MARKET HAS LOST GROUND SOON AFTER HITTING A RECORD CLOSING HIGH EARLY THIS MONTH. SHARES OF SELECT STOCKS COLLAPSED AFTER REPORTS THE SECURITIES & EXCHANGE BOARD OF INDIA IS EXAMINING THE POSSIBILITY OF INSIDER TRADING IN SHARES OF THESE COMPANIES. CENTRAL BANK OF INDIA (DOWN 10.51%), MONEY MATTERS FINANCIAL SERVICES (DOWN 10%), LIC HOUSING FINANCE (DOWN 11.49%) AND PANTALOON RETAIL (DOWN 2.25%) DECLINED.

TODAY NIFTY WOULD TRADE IN A NARROW RANGE BOUND. IF NIFTY TRADES ABOVE 5790 THEN LIKELY TO MAKE ITS UP MOVE TO 5822 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5852 LEVELS BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO FURTHER HIGHS BUT FOR A BRIEF PERIOD OF TIME AND IT WILL NOT SUSTAIN FOR TOO MANY DAYS IT IS LIKELY TO COME DOWN IN A SHORT TERM BUT ONE CAN TAKE 5725 AS A SUPPORT POINT WHERE NIFTY IS LIKELY TO GIVE A SUPPORT AND IF NIFTY COMES BELOW 5727 WITHOUT MOVING UP TO 5900 KIND OF LEVELS THEN WE CAN EXPECT NIFTY TO COME DOWN TO 5500 AS TOLD IN THE PREVIOUS WRITINGS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5765 THEN LIKELY TO COME DOWN TO 5735 AND BREAK BELOW THIS LEVEL CAN DRAG NIFTY TO 5700 ONCE 5725 IS BREACHED IT CLEARLY INDICATES THAT WE CAN SLIDE FURTHER BUY ANOTHER 200 POINTS IN A VERY SHORT TERM AND BREAK BELOW 5700 WE CAN SEE NIFTY TO COME DOWN TO 5650 LEVELS. ONE CAN GO LONG IN NIFTY AROUND 5735 TO 5750 LEVELS WITH A STOPLOSS OF 5725 LEVELS IF NIFTY SUSTAINS 5725 LEVELS THEN WE CAN SEE NIFTY TO GO UP TO 5950 LEVELS BEFORE TAKING ANOTHER DIP. ONCE IF NIFTY BREACHES 5725 THEN WE WILL HEAD DOWN TOWARS 5500 LEVELS. IF NIFTY DOES NOT BREAK 5725 THEN ONE CAN TAKE THIS AS BUYING OPPORTUNITY WITH 5725 AS STOPLOSS FOR A VERY SHORT TERM.

BUY TCS SL 1043.9 TGT 1057/1063/1075
BUY R SYSTEMS SL 119 TGT 121/122/123
POSITIONAL TRADES
BUY EID PARRY TGT 600/700

INTRADAY TIPS FOR 26 NOVEMBER 2010

GOOD MORNING!!!

YET AGAIN A NEW BRIBERY SCANDAL IN THE LAND OF SCANDALS HAS INVITED THE BEARS TO THE LAND OF FINANCIAL MARKETS TO HAVE A PARTY TIME THIS HAVE HIT THEIR LOWEST LEVELS IN MORE THAN TWO MONTHS SOON AFTER BURSTING OF A SCANDAL BY THE CENTRAL BUREAU OF INVESTIGATION ON 24 NOVEMBER 2010, INVOLVING OFFICIALS OF SOME TOP PSU BANKS AND FINANCE FIRMS HURT SENTIMENT FOR THE SECOND DAY IN A ROW. THERE WAS A VERY WILD INTRADAY SWING IN SHARE PRICES AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM THE NEAR-MONTH NOVEMBER 2010 SERIES TO DECEMBER 2010 SERIES. THE MARKET BREADTH WAS WEAK AFTER ALTERNATELY MOVING BETWEEN POSITIVE AND NEGATIVE TERRITORY EARLIER IN THE DAY. BANKING, FINANCIAL, REALTY, CONSTRUCTION, METAL AND PSU STOCKS DECLINED. IT STOCKS ROSE ON IMPROVED ECONOMIC DATA IN US.

TODAY MARKETS WOULD OPEN NEGATIVE AHEAD OF NEW SERIES OF THE MONTH, IF NIFTY TRADES BELOW 5820 THEN LIKELY TO COME DOWN TO 5790 AND BREAK BELOW THIS LEVEL WE CAN SEE NIFTY TO SLIDE DOWN TO 5750 AND THEN TO 5700 LEVELS AND IF NIFTY CLOSES BELOW 5800 THEN WE WILL HEAD FURTHER DOWN. ON THE POSITIVE SIDE ONLY IF NIFTY TRADES ABOVE 5860 THEN ONE CAN THINK OF GOING LONG ONLY IN INTRADAY AND NIFTY MAY FACE RESISTANCE AROUND 5890 AND THEN AT 5909 IT IS ADVISABLE TO STAY AWAY FROM LONGS EVEN AT THIS STAGE.

NO RECOS FOR THE DAY

INTRADAY TIPS FOR 25 NOVEMBER 2010

GOOD MORNING!!!

INDICES EDGED HIGHER AT THE ONSET OF THE TRADING SESSION TRACKING RECOVERY IN ASIAN STOCKS AS CONCERN OVER KOREAN TENSIONS AND CHINESE POLICY TIGHTENING EASED A LITTLE. THE MARKET SLIPPED INTO THE RED FOR A BRIEF PERIOD LATER. LATER, REPORTS FROM NEWS CHANNEL ABOUT A MULTI-CRORE HOUSING LOAN SCAM LED TO A SELL-OFF IN LATE TRADE. BANKING AND REALTY STOCKS LED THE DECLINE ALONG WITH IT SENTIMENT HAS CRUMBLED AFTER US INDEX FUTURES TURNED NEGATIVE FROM POSITIVE. ALMOST ALL THE SECTORAL INDICES WERE IN RED EXCEPT FOR THE FMCG SECTOR. ACCORDING TO MEDIA REPORTS, THE CENTRAL BUREAU OF INVESTIGATION (CBI) HAS CONDUCTED RAIDS ACROSS THE FOUR MAJOR METROS IN CONNECTION WITH THE FAKE HOME LOAN SCAM AND SENIOR OFFICIALS OF ON LIC HOUSING FINANCE, CENTRAL BANK OF INDIA AND BANK OF INDIA HAVE BEEN QUESTIONED. THE MARKET BREADTH TURNED NEGATIVE, IN CONTRAST WITH A STRONG BREADTH EARLIER IN THE DAY. VOLATILITY WAS HIGH AS TRADERS ROLL OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM THE NEAR-MONTH NOVEMBER 2010 SERIES TO DECEMBER 2010 AHEAD OF THE EXPIRY OF THE NOVEMBER 2010 FUTURES & OPTIONS (F&O) CONTRACTS.

TODAY MARKETS WOULD OPEN NEGATIVE AND WOULD BE VOLATILE BUT MAY PULL BACK ON EXPIRY NOTE SO ONE SHOULD KEEP IN MIND THAT THERE WOULD BE VERY HIGH VOLATILITY IN THE ENTIRE DAY AND NIFTY MAY EVEN TEND TO COME INTO POSITIVE ZONE. IF NIFTY TRADES ABOVE 5880 THEN LIKELY TO MOVE UP TO 5910 LEVELS AND ANY BREAK ABOVE THIS POINT WE CAN SEE NIFTY TO 5932 AND AT EVERY HIGHER LEVEL WE CAN SHORT NIFTY WITHOUT ANY HESITATION ON INTRADAY TERMS. BUT IF NIFTY TRADES BELOW 5840 THEN ONE CAN REMAIN SHORT ON THE POSITIONAL FRONT. AND ON INTRADAY TERMS ONE CAN SHORT NIFTY IT IS AROUND 5900 WITH STOPLOSS OF 5910. NIFTY MAY NOT CLOSE MUCH ABOVE TO 5900 LEVELS. MARKETS ARE VERY NEGATIVE AND WE MAY STILL BLEED MUCH MORE. IF THIS NEWS HOUSING SCANDAL REMAINS IN THE NEWS FOR ANOTHER TWO TO THREE DAYS WE MAY SEE BEARS PARTYING IN THE MARKETS.

SELL LIC HOUSING SL 1091 TGT 1051/984/918 (MAY CONTINUE TO BLEED)


BUY CROMPTON GREAVES SL 338 TGT 343/347/349
BUY TVS MOTORS SL 83 TGT 86/88/90
BUY ABG SHIPPYARD SL 444 TGT 456/463/469
BUY APOLLO TYRES SL 64.40 TGT 66/67/68

ONE CAN BUY CALLS WHEN NIFTY TRADES LOWER AND BUY PUTS WHEN NIFTY TRADES HIGHER

NOTE: TRADE WITH STRICT STOPLOSS

INTRADAY TIPS FOR 24 NOVEMBER 2010

GOOD MORNING!!!

INDICES TUMBLED AT THE ONSET OF THE TRADING SESSION AS ASIAN STOCKS FELL ON LINGERING WORRIES ABOUT EUROPE'S DEBT CRISIS. WEAKNESS PERSISTED IN MORNING TRADE, BUT THE INDICES PARED LOSS ON BARGAIN HUNTING. A BOUT OF VOLATILITY WAS WITNESSED IN MID-MORNING TRADE. THE MARKET SLUMPED IN EARLY AFTERNOON TRADE ON THE REPORTS NORTH AND SOUTH KOREA FIRED ARTILLERY SHELLS AT AN ISLAND NEAR THE TWO NATIONS WESTERN BORDER. THE MARKETS COMPLETELY LOST ITS GROUND AS NORTH KOREA REPORTEDLY FIRED ARTILLERY SHELLS ACROSS ITS WESTERN MARITIME BORDER, PROMPTING RETURN FIRE FROM SOUTH KOREA. AT LEAST FOUR SOLDIERS ARE SAID TO HAVE BEEN HURT. MEANWHILE, SOUTH KOREA HAS ISSUED ITS HIGHEST NON-WARTIME ALERT IN RESPONSE. REPORTS INDICATED THAT TODAY'S INCIDENT IS ONE OF THE MOST SERIOUS INCIDENTS BETWEEN THE TWO SINCE THE KOREAN WAR IN THE 1950S. THE INCIDENT COMES DAYS AFTER NORTH KOREA REVEALED IT HAD A MODERN URANIUM ENRICHMENT PLANT, POTENTIALLY GIVING IT A SECOND ROUTE TO A NUCLEAR WEAPON. MARKET STARTED RECOVERING AFTER HITTING TWO MONTH LOW IN THE INDICES.

TODAY MARKETS WOULD OPEN FLAT TO NEGATIVE AND REMAIN UNDER PRESSURE AND WE MAY SEE LOT OF VOLATALITY AS THE TRADE PROCEEDS AS WE ARE NEARING EXPIRY. IF NIFTY TRADES BELOW 5910 THEN LIKELY TO TRADE DOWN TO 5868 LEVELS AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY DOWN TO 5826 AND ANY CLOSE BELOW 5826 WE CAN SEE NIFTY TO COME DOWN BY MORE THAN 5700 AND THEN TO 5540 ANY CLOSE BELOW 5840 WE HAVE SUPPORT ONLY AT 5540 LEVELS SO ONE HAS TO STAY CAUTIOUS IF MARKET BREACHES 5840 LEVELS. ON THE POSITIVE SIDE IF WE HAPPENED TO MOVE UP ONE IS ADVISED TO STAY AWAY UNTIL THE EXPIRY IS OVER. WE HAVE SEEN NIFTY CLOCKING THE HIGHEST VOLUMES IN THE LAST NINE MONTHS OF TRADE THOUGH IT WAS A GREAT AFTERNOON OF RECOVERY WITH BUYING INTEREST SHOWN WITH VOLUMES ONE HAS TO STAY CATIOUS ON BUYING SIDE SINCE THE MARKETS HAVE SHOWN A NEGATIVE TREND ON THE MEDIUM TERM BASIS IT IS WISE TO AVOID BUYING AT THIS STAGE. MAY BE WE HAVE TO SEE THAT WHETHER IT IS A BUYING ON THE BARGAIN HUNT OR JUST RECOVERY ON THE EXPIRY FRONT. I WOULD SUGGEST ONE SHOULD STAY AWAY FROM MARKETS TILL NIFTY CLOSES ABOVE 6014 LEVELS ON A SHORT TERM NOTE. ONE CAN GO SHORT AT HIGHER LEVELS IN THE MARKET KEEPING 6014 AS STOPLOSS. SHIPPING AND FERTILIZER STOCKS LOOKS GOOD FOR INTRADAY.

ONE CAN ONLY RISK BUYING CALLS FOR THE CURRENT MONTH WHOSE EXPIRY IS TOMORROW AS THE PREMIUM YOU PAY WOULD BE VERY LESS AND THAT TOO STOCK SPECIFIC CALLS AND NOT INDEX WHEN MARKETS SLIDES DOWN (IFCI AND TATASTEEL CAN BE LOOKED AT WHEN MARKETS FALL)

POSITIVE STOCKS BAJAJ AUTO, DISH TV, SANGAM (I)

INTRADAY TIPS FOR 23 NOVEMBER 2010

GOOD MORNING!!!

THE MARKETS OPENED ON A FIRM NOTE TRACKING ASIAN STOCKS WHICH ROSE AFTER IRELAND ON SUNDAY, 21 NOVEMBER 2010, FORMALLY APPLIED FOR AID FROM THE EUROPEAN UNION AND THE INTERNATIONAL MONETARY FUND. A BOUT OF VOLATILITY WAS WITNESSED AS THE KEY BENCHMARK INDICES LATER PARED GAINS. MARKETS TOOK OFF AGAIN IN THE MID-MORNING TRADE THERE WAS GREAT AMOUNT OF FIRMNESS SEEN IN AFTERNOON TRADE. THE MARKET STRUCK A FRESH INTRADAY HIGH IN AFTERNOON TRADE. BUYING INTENSIFIED IN THE MID-AFTERNOON TRADE. INDICES BOUNCED BACK FROM TWO-MONTH LOWS AS INVESTORS EMBRACED RISK, BUOYED BY NEWS THAT THE EUROPEAN UNION AND THE INTERNATIONAL MONETARY FUND ARE PREPARED TO PROVIDE AID FOR DEBT-LADEN IRELAND FOLLOWING THE COUNTRY'S FORMAL REQUEST FOR ASSISTANCE. THE STRONG BUYING MOMENTUM HELPED NIFTY SURPASS THE PSYCHOLOGICAL BARRIER OF 6,000 MARK. ALMOST ALL THE SECTORAL INDICES ON THE WERE IN POSITIVE ZONE. BANKING, CONSUMER DURABLES AND IT STOCKS LED THE RALLY. CAPITAL GOODS AND HEALTHCARE STOCKS LAGGED THE RALLY. MARKET BREADTH INDICATING THE HEALTH OF THE MARKET, WAS STRONG.

TODAY IF NIFTY TRADES ABOVE 6020 THEN LIKELY TO MAKE ITS UPWARD JOURNEY TO 6045 AND THEN TO 6070 LEVELS AND ANY BREAK ABOVE 6070 IT WILL IMMEDIATELY TAKE NIFTY TO 6090 AND ANY BREAK ABOVE THIS POINT WE CAN SEE NIFTY TO MUCH HIGHER LEVELS, ANY CLOSE ABOVE 6035 IS CONSIDERED TO BE BULLISH AND ONE IS ADVISED TO EXIT ALL SHORTS AND CONVERT YOURSELF INTO LONGS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6000 THEN LIKELY TO MAKE ITS DOWNWARD JOURNEY TO 5974 AND BREAK BELOW THIS LEVEL WILL DRAG NIFTY TO 5945 LEVELS AND ANY TRADE BELOW 5945 WILL TAKE NIFTY TO 5900 LEVELS ONE IS ADVISED TO STAY CAUTIOUS AS THERE WOULD BE HIGH VOLATALITY AS WE ARE NEARING EXPIRY. ONE IS ADVISED TO SHORT IF NIFTY TRADES BELOW 6035 LEVELS WITH A STOPLOSS OF 6035 AND CONVERT TO LONG IF IT IS ABOVE 6035 LEVELS. IN THE NEAR-TERM, YEAR-END PROFIT TAKING MAY CAP THE UPSIDE ON THE DOMESTIC BOURSES. A NUMBER OF STOCKS HAVE CLOCKED DECENT TO STRONG GAINS THIS YEAR. FUNDS BASED IN US AND EUROPE FOLLOW CALENDAR YEAR AS THEIR ACCOUNTING YEAR. STAY VERY CAUTIOUS.

ONE IS STILL ADVISED TO STAY AWAY FROM LONGS DON’T BUILD IN TOO MANY POSITIONS IN THE MARKETS AS THERE IS NO MUCH STRENGTH SEEN EVEN AFTER STOCKS RALLIED QUITE HIGH LAST DAY, THERE IS EVERY POSSIBILITY THAT MARKETS MAY COME DOWN ALL OF A SUDDEN SO DON’T TAKE TOO MANY POSITIONS BUT BE WITH THE TREND.

INTRADAY TIPS FOR 22 NOVEMBER 2010

GOOD MORNING!!!

MARKETS OPENED FIRM COULDN’T HOLD THE STRENGTH AS CHINESE STOCKS FELL ON RATE HIKE WORRIES. IT HIT INTRADAY LOWS AND THEN TRIMMED LOSSES TO CERTAIN EXTENT, MARKETS LOST GROUND AFTER RECOUPING ALMOST ALL THE EARLIER LOSSES OF THE DAY AND EXTENDED LOSSES IN THE LATE TRADE AND RECORDED FRESH INTRADAY LOWS AT THE FAG END OF THE TRADING SESSION. INTRADAY VOLATILITY WAS HIGH AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM THE NEAR-MONTH NOVEMBER 2010 SERIES TO DECEMBER 2010 AHEAD OF THE EXPIRY OF THE NOVEMBER 2010 CONTRACTS ON THURSDAY, 25 NOVEMBER 2010. THE MARKET BREADTH WAS WEAK, BANKING, CONSUMER DURABLES, IT, METAL AND REALTY STOCK FELL. THERE ARE LOT OF PESSIMISTIC VIEW BY INVESTORS ON THE MARKETS AND NOT WILLING TO HOLD LOT OF POSITIONS IN THE STOCKS ON WEAK EUROPE SENTIMENT. THE MARKET BREADTH, INDICATING THE HEALTH OF THE MARKET, WAS WEAK, IN CONTRAST WITH A POSITIVE BREADTH IN EARLY TRADE.

TODAY MARKETS LOOK BROADLY RANGE BOUND, WE MAY WITNESS LOT OF VOLATILITY AHEAD OF EXPIRY THIS WEEK ONE NEEDS TO STAY CAUTIOUS AS MARKETS MAY BE VIOLENTLY VOLATILE. IF NIFTY TRADES BELOW 5860 THEN LIKELY TO MAKE ITS DOWNWARD JOURNEY TO 5840 LEVELS AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 5800 AND THEN TO 5750, NIFTY HAS A BREACHED MAJOR SUPPORTS ON THE LAST TRADING DAY WHICH IS NEGATIVE FOR THE MARKETS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5925 ONLY THEN ONE CAN GO SHORT ON INTRADAY TERMS 5960 AND THEN TO 5980 ANY CLOSE ABOVE 5980 IS CONSIDERED TO BE NIFTY HAS TAKEN SUPPORT IN THE MARKET AND WE CAN HEAD TOWARDS LITTLE HIGHER ZONES BUT ONE IS ADVISED TO STAY AWAY FROM LONGS AS MARKETS ARE STILL UNDER PRESSURE.

NO RECOS FOR THE DAY

INTRADAY TIPS FOR 19 NOVEMBER 2010

GOOD MORNING!!!

THE MARKET PARED GAINS AFTER A FIRM START, IT SLIPPED INTO THE RED IN MORNING TRADE. THE MARKET CUT LOSSES AFTER FALLING SHARPLY TO HIT FRESH INTRADAY LOW IN MID-MORNING TRADE. THE MARKET REGAINED POSITIVE ZONE IN EARLY AFTERNOON TRADE. THE MARKET PARED GAINS IN AFTERNOON TRADE. THE MARKET REGAINED POSITIVE ZONE AFTER SLIPPING INTO THE RED FOR A BRIEF PERIOD IN MID-AFTERNOON AS EUROPEAN STOCKS ROSE IN EARLY TRADE. THE MARKET SLIPPED INTO THE RED FOR A BRIEF PERIOD IN LATE TRADE. IT WAS A HIGHLY VOLATILE TRADE ON FIRM GLOBAL STOCKS. STOCKS ROSE ACROSS THE GLOBE ON EXPECTATIONS THAT IRELAND WILL SOON ACCEPT A BAILOUT PACKAGE FROM THE EUROPEAN UNION AND INTERNATIONAL MONETARY FUND. THE MARKET BREADTH WAS WEAK, IN CONTRAST WITH A STRONG BREADTH IN EARLY TRADE. MID AND SMALL-CAP STOCKS WITNESSED SELLING PRESSURE. METAL AND AUTO STOCKS ROSE WHILE BANKING STOCKS FELL. INTRADAY VOLATILITY WAS HIGH AS TRADERS ROLLED OVER POSITIONS IN DERIVATIVES SEGMENT FROM THE NEAR MONTH NOVEMBER 2010 SERIES TO DECEMBER 2010 SERIES AHEAD OF THE EXPIRY OF THE NOVEMBER 2010 CONTRACTS NEXT THURSDAY, 25 NOVEMBER 2010.

TODAY NIFTY WOULD BE RANGE BOUND AND HIGHLY VOLATILE, THOUGH GLOBAL CUES ARE POSITIVE WE MAY NOT REALLY FOLLLOW THE TREND OF THE GLOBAL MARKETS ON THE TELECOM ISSUE GOING, WE WOULD OPEN NEGATIVE ON THE OPENING NOTE WITH ALL THE TELECOM STOCKS GETTING INTO PRESSURE. IF NIFTY TRADES BELOW 5996 THEN ONE CAN SEE NIFTY TO COME DOWN TO 5966 AND THEN TO 5940 LEVELS AND ANY BREACH BELOW 5940 WOULD DRAG NIFTY TO MUCH LOWER LEVELS. ON THE POSITIVE SIDE IF NFITY TRADES ABOVE 6068 THEN LIKELY TO MAKE AN UPMOVE TO 6100 AND ANY BREAK ABOVE THIS LEVEL WOULD TAKE NIFTY TO 6126 AND ANY CLOSE ABOVE 6115 ONE SHOULD EXIT ALL THE SHORTS AND GO LONG. WE SHOULD BE POSITIONALLY SHORT AS OF NOW. TODAY THERE FEW TELECOM STOCKS WOULD BE UNDER TREMENDOUS PRESSURE, STOCKS LIKE RCOM, VIDEOCON, UNITECH AND FEW OTHER WOULD BLEED IN THE INITIAL TRADE AND CONTINUE TO BLEED TILL THE SAGA OF RAJA ENDS. ONE CAN SHORT THE ABOVE MENTIONED STOCKS AND HOLD IT.

BUY BATA(I) SL 385 TGT 395/400/405
BUY CIPLA SL 353 TGT 360/365/368
SELL SKS MICRO FINANCE SL 656 TGT 618/600/585
SELL RCOM SL 156 TGT 149/145/138 (SHORT TERM 120)
SELL VIDEOCON SL 240 TGT 233/227/224