NEWSLETTER

Technical Outlook (13th February 2009) As already mentioned yesterday "Nifty has bounced back from the neckline support of "Inverted Head & Shoulder" pattern, targets of which are maintained at 3050-3100. Declines above the support level can be used for buying with SL with broad SL of 2800. Be reminded once again that all the positions must be well protected with SL as any negative news from budget can cause a sharp fall towards 2700 & below." Nifty, again opened with a down gap of nearly 30 points, since most of the Asian markets were trading in red. Although, Nifty did tried to make a comeback by touching an intra day high of 2939 but higher ;levels could not be sustained & Nifty gradually declined to touch an intra day low of 2886 & closing near the lower levels of the day i.e. 2893, about 32 points below the previous close. As far as, EST charts are concerned, Nifty is placed just above the neckline support of "Inverted Head & Shoulder" pattern from which it had given bullish breakout about 3 days back. The bullish target of 3050-3100 are maintained as long as Nifty stays above the support of 2880. On the bearish side, move below 2880 can wipe off 60-70 points of Nifty in couple of sessions. Nifty appears to be in a indecisive mode since most of the World markets are falling & Nifty is trying to move against the general trend. As far as Bar reversals in Daily Charts are concerned, Indiabulls, Wipro, JSW Steel, Crompton, Appolo Tyres have given Upward Bar Reversal in Daily Charts while stocks like United Spirits, Reliance Cap, R Comm, Unitech, Satyam and Sail etc have given "Downward Bar Reversal" Sector wise, stock specific move was noticed among gainers i.e. Hexaware, Spice Tele, Rashtriya Chem., SRF Ltd., M&M, GNFC, Power Grid, etc., while stocks like Mc Dowell, GE Shipping, JP Associates, Ranbaxy, Bharti Airtel, Infosys, ICICI Bank, Maruti, Tata Steel were among the major losers of the day. As far as A/D data is concerned it was in favor of bulls in the ratio of 5.5:6 with 560 declines & 628 advances during the day. In nutshell, Nifty is in an undecisive mode taking support around 2880 which was the resistance level of "Inverted Head & Shoulder" pattern having set a target of 3050+. Failure to hold the support can make Nifty lose another 60-70 points & close below 2800 may negate the bullish targets temporarily. The best strategy should be to remain stock specific since both bullish & bearish opportunities are avilable in the market.

Support/ Resistance Levels of "Indices" for Day Traders

Index Close Change 3- DEMA 7- DEMA Sup-2 Sup-1 Trend Res-1 Res-2 5D-High 5D-Low * BSE - SENSEX 9465.83 -152.71 9518.66 9443.23 9386.45 9390.67 9497.17 9572.67 9655.84 9724.87 9158.59 * CNX BANK INDEX 4468.35 -35.95 4471.74 4426.21 4423.20 4429.03 4485.07 4524.57 4569.61 4596.60 4275.65 * CNX IT INDEX 2178.90 -30.25 2195.46 2193.70 2154.03 2158.31 2181.48 2202.16 2219.97 2249.60 2130.15 * CNX MIDCAP 3446.15 6.55 3432.83 3398.90 3421.72 3421.03 3453.30 3478.53 3502.28 3477.00 3295.00 * S&P CNX NIFTY 2893.05 -32.65 2903.27 2880.27 2861.06 2866.22 2906.20 2933.16 2966.05 2957.40 2778.65 - NSE50 1 MONTH 2888.05 -36.00 2898.06 2872.00 2854.77 2860.60 2893.33 2920.90 2946.53 2949.00 2791.40

Change in Indices in last 5 Days

Index Close L.Change 2DayBack 3DayBack 4DayBack 5DayBack * BSE - 200 CO'S 1114.78 -12.52 -1.55 7.89 29.74 22.39 * BSE - 500 CO'S 3451.80 -34.79 -3.52 23.76 88.01 67.49 * BSE - SENSEX 9465.83 -152.71 -28.93 63.58 283.03 209.98 * CNX BANK INDEX 4468.35 -35.95 -11.50 56.30 125.35 98.80 * CNX IT INDEX 2178.90 -30.25 -25.35 13.35 36.05 55.35 * CNX MIDCAP 3446.15 6.55 -7.95 55.50 52.30 71.60 * S&P CNX NIFTY 2893.05 -32.65 -8.80 14.60 76.80 63.05 - CNX BANK INDEX - 1 M 4467.95 -46.75 -2.30 59.25 131.55 111.60 - CNX IT - 1 MONTH 2177.80 -35.75 -21.30 11.35 44.40 49.40 - NSE50 1 MONTH 2888.05 -36.00 -3.65 16.20 80.80 64.75

Stocks with Unusual Change in Volumes

Scrip Close L. Close % Change Volume Last Vol V.Change Stocks with unusually high Volumes HEXAWARE TECHNOL 33.35 20.05 39.88 23198720 73469 315.76 GEOMETRIC SOFTWA 17.10 17.90 -4.68 1920696 17933 107.10 SONATA SOFTWARE 17.75 16.30 8.17 325672 12896 25.25 PANTALOON RETAIL 176.30 164.55 6.66 1551228 78467 19.77 WELSPUN (I) 15.10 15.75 -4.30 270057 14270 18.92 NIIT 21.65 20.85 3.70 5631209 351119 16.04 TECH MAHINDRA 244.60 233.45 4.56 236101 17311 13.64 ORIENT PAPER 21.85 22.05 -0.92 555882 41899 13.27 INDIABULLS FIN SERVICES 108.75 114.00 -4.83 676982 54802 12.35 BAJAJ AUTO 478.25 456.40 4.57 189700 17775 10.67 Gainers with unusually high Volumes HEXAWARE TECHNOL 33.35 20.05 39.88 23198720 73469 315.76 SPICE COMMUNICATIONS 79.30 52.05 34.36 23892668 3473987 6.88 FACT LTD 25.95 21.60 16.76 369488 79025 4.68 HELIOS MATHINFTECH 27.75 23.10 16.76 518038 120807 4.29 NATIONAL FERTILIZERS 36.30 30.25 16.67 881519 367649 2.40 ANSAL HOUSING 21.90 18.75 14.38 680283 209958 3.24 RASHTRIYA CHEM 42.45 36.85 13.19 4630604 1339638 3.46 FIRSTSOURCE SOLUTIONS 14.75 13.20 10.51 13449724 2068523 6.50 Losers with unusually high Volumes UNITED SPIRITS 665.55 732.40 -10.04 7679541 3970577 1.93 GREAT EASTERN SHIPPING 200.35 213.05 -6.34 535677 352172 1.52 REI AGRO 59.90 62.90 -5.01 670642 90991 7.37 INDIABULLS FINANCIAL SERVICES 108.75 114.00 -4.83 676982 54802 12.35 GEOMETRIC SOFTWA 17.10 17.90 -4.68 1920696 17933 107.10 WELSPUN (I) 15.10 15.75 -4.30 270057 14270 18.92 MAHA SEAMLESS 122.05 126.85 -3.93 329760 151209 2.18

Support/ Resistance of "Active Stocks" for Day Traders

We are giving below the Important Support and Resistance Levels of few most actively traded scrips of NSE/BSE (including F&O). Many Traders successfully use Support/ Resistance levels for day- trading. Traders are advised to read the Disclaimer and Rules for Successful trading & apply Stop Loss on all trades.

Scrip Close Change 3- DEMA 7- DEMA Sup-2 Sup-1 Trend Res-1 Res-2 5D-High 5D-Low ACC LTD 550.40 -6.90 549.48 540.30 528.88 537.59 552.47 565.34 578.91 568.00 525.00 AXIS BANK 430.50 -0.45 426.98 419.92 421.39 424.34 430.20 436.39 441.20 435.00 392.00 BANK OF BARODA 243.00 -1.85 245.00 246.15 216.70 228.96 238.77 252.86 262.12 258.95 225.30 BANK OF INDIA 250.20 0.45 250.14 248.09 244.24 246.28 251.90 255.84 260.85 257.70 240.60 BHARAT FORGE 81.35 -0.10 82.11 82.21 78.73 79.73 81.92 83.54 85.53 88.00 79.60 BHARAT PETROLEUM 407.20 -3.30 405.57 399.88 398.24 401.19 410.10 416.14 424.06 418.00 385.25 BHARTI AIRTEL 650.85 -22.60 658.22 652.90 628.95 637.47 656.78 670.24 688.00 679.00 632.10 BHEL 1410.70 -37.20 1420.55 1402.91 1376.49 1388.32 1417.90 1440.39 1466.56 1463.80 1352.30 CAIRN INDIA 159.90 -2.10 161.98 162.71 156.11 157.41 160.40 162.91 165.51 170.75 158.30 CANARA BANK 189.15 1.00 188.48 186.59 186.39 187.06 188.72 190.81 192.00 191.00 179.00 CIPLA LTD 191.00 -1.35 191.98 192.18 188.75 189.16 191.37 193.22 194.95 195.85 188.65 DLF 156.60 5.45 152.65 150.59 140.74 148.10 154.48 163.02 169.05 160.50 135.50 DR. REDDY'S LABS 434.80 -10.15 443.96 448.22 421.38 426.46 438.77 447.15 458.41 468.80 431.50 GAS AUTHORTY (I) 214.60 -4.00 214.26 210.51 203.39 208.19 217.08 223.52 231.91 225.45 203.00 GLENMARK PHARM 145.20 1.35 143.28 142.15 137.01 140.56 144.43 149.09 152.61 147.95 121.50 GMR INFRASTRUCTURE 77.80 -2.15 78.48 77.15 74.73 75.98 78.73 80.57 83.14 84.80 70.50 HDFC BANK 933.85 -0.65 932.24 922.73 919.04 922.95 933.13 944.07 951.96 958.15 886.40 HDFC LTD 1525.05 -6.90 1515.92 1491.84 1482.42 1498.05 1523.25 1550.37 1571.87 1550.00 1385.30 HIND UNILEVER 258.70 -0.50 259.19 259.96 255.62 256.19 258.42 260.93 262.52 269.85 255.35 HOUSING DEV & INFRA 85.95 0.10 85.00 84.23 80.41 82.86 86.23 89.34 92.51 89.40 77.20 ICICI BANK 421.40 -13.80 424.81 418.06 407.55 412.90 424.17 432.71 442.97 442.00 396.00 IDBI 55.15 -1.40 55.60 55.53 53.72 54.23 55.73 56.66 58.03 57.50 54.10 IDFC 57.05 -1.85 57.15 56.36 54.76 55.69 57.87 59.23 61.27 59.90 52.55 INFOSYS TECHNOLO 1254.55 -47.35 1278.26 1284.10 1224.86 1235.00 1266.55 1286.21 1314.73 1325.00 1248.00 ITC LTD 178.30 -1.90 179.54 179.89 176.02 176.49 178.72 180.53 182.32 184.00 177.35 JAIPRAKASH ASSOC 72.95 -3.55 73.93 72.64 69.91 71.16 74.12 75.92 78.71 77.90 68.40 JINDAL STEEL POW 1049.15 -1.90 1055.43 1042.82 996.42 1018.88 1053.72 1084.14 1116.50 1114.00 1023.50 JSW STEEL 225.35 5.55 222.42 216.51 208.73 216.21 222.60 231.78 237.64 229.90 199.00 KOTAK MAHINDRA BANK 272.80 -2.90 274.20 274.05 264.67 267.71 275.42 280.53 287.58 290.85 263.25 LARSEN & TOUBRO 682.45 -7.00 683.27 675.89 669.21 673.28 683.88 693.10 702.03 704.50 635.10 LIC HOUSING FIN 218.95 0.80 217.09 214.90 212.74 215.03 218.73 222.67 225.85 221.90 202.05 LUPIN LABS 637.30 9.80 628.79 613.68 613.51 623.04 632.80 647.11 655.33 641.00 587.50 MAHINDRA & MAHIN 299.65 19.30 289.61 285.05 264.66 281.06 292.88 311.54 322.69 304.00 267.05 MARUTI UDYOG 613.85 -18.45 614.49 601.76 597.38 603.32 616.42 627.00 638.61 634.00 572.00 NATL ALUM - NEW 197.00 2.15 195.28 193.64 188.67 192.10 195.42 200.33 203.17 198.25 186.20 NTPC 179.85 -0.60 180.21 180.52 177.70 178.10 180.25 182.00 183.71 183.90 177.15 ONGC CORPN 693.60 -13.15 700.42 692.46 651.95 670.19 705.23 728.78 762.23 738.60 665.25 POWER FINANCE CORP 137.05 -0.10 136.90 136.16 134.03 135.03 137.18 139.21 141.04 139.50 133.00 PUNJAB NATIONAL BANK 402.45 -4.05 404.16 403.73 396.50 397.97 404.48 408.99 414.52 417.95 398.10 RANBAXY LABS 212.90 -8.25 218.53 218.56 204.05 207.68 216.10 221.35 229.27 244.00 208.00 RELIANCE CAPITAL 417.45 -8.30 414.09 403.95 403.56 408.94 421.48 430.04 441.58 433.00 371.20 RELIANCE COMM 172.40 -0.90 171.49 168.89 166.84 168.98 173.55 176.99 181.15 177.70 161.00 RELIANCE INDS 1351.55 -29.70 1365.68 1350.73 1328.55 1334.99 1358.52 1375.16 1395.40 1414.10 1295.60 RELIANCE INFRAST 550.15 8.85 550.22 547.58 519.23 532.65 547.72 565.29 579.06 596.90 526.00 RELIANCE NAT RES 48.15 -0.05 48.00 47.77 46.37 47.08 48.70 49.77 51.28 50.20 45.95 RELIANCE PETROLEUM 86.10 -0.80 86.44 85.79 84.39 84.92 86.47 87.65 88.99 89.10 84.35 RELIANCE POWER 103.50 0.70 103.05 102.40 99.80 101.26 103.28 105.53 107.30 105.05 100.00 STATE BANK 1159.20 0.30 1155.79 1141.70 1131.61 1141.07 1160.27 1178.47 1194.85 1183.85 1100.00 STEEL AUTHORITY 87.55 -0.50 87.47 85.75 83.08 84.99 88.00 90.58 93.38 92.30 81.05 STERLITE INDS (I) 268.75 -5.30 271.82 271.49 250.09 258.42 273.93 284.33 299.23 289.90 241.25 SUZLON ENERGY 45.50 -0.20 45.31 45.00 44.12 44.64 45.85 46.72 47.82 46.95 43.25 TATA COMMUNICATI 435.20 -5.50 438.81 439.13 424.67 428.31 434.72 441.63 446.98 489.55 426.05 TATA MOTORS 136.30 0.20 136.79 137.70 132.18 133.73 136.23 138.81 140.98 144.10 132.00 TATA POWER COMP 795.20 -13.20 794.39 781.18 770.02 779.65 795.60 811.22 825.26 814.00 745.10 TATA STEEL 185.60 -4.55 188.85 188.10 179.48 181.84 187.65 191.43 196.79 203.85 182.00 TCS 509.90 -4.85 512.46 509.58 499.59 502.84 509.90 516.99 522.80 528.00 487.00 UNION BANK 149.00 -0.80 149.49 148.91 143.91 145.90 149.23 152.35 155.32 154.60 140.55 UNITECH 31.15 -1.00 31.19 30.53 29.26 30.09 31.53 32.60 33.97 32.90 27.75 ZEE TELEFILMS 113.80 -0.10 115.52 113.72 109.96 111.45 114.27 116.62 119.16 132.80 101.70

Daily Bar Reversal Up/ Down and Bullish/ Bearish Engulfing Patterns

Scrip Scrip Scrip Scrip Bar-Up Bar-Dn Eng-Bull Eng-Bear INDIABULLS REAL ESTATE * S&P CNX NIFTY EDUCOMP SOLUTIONS UNITED SPIRITS WIPRO LTD * CNX NIFTY JUNIOR ORBIT CORPORATION STERLITE INDS (I) JSW STEEL UNITED SPIRITS CROMPTON GREAVES ITC LTD CROMPTON GREAVES RELIANCE CAPITAL MPHASIS STERLING BIOTECH APOLLO TYRES UNITECH GEOMETRIC SOFTWA RELIANCE COMM OPTO CIRCUITS (I) SATYAM COMPUTER PENINSULA LAND AXIS BANK ZEE NEWS STEEL AUTHORITY WALCHANDNAGAR IN RELIANCE NAT RESOURCES UTTAM STEEL

What the Charts Foretell (For Short Term Traders & Investors)
* NIFTY/ SENSEX ! Nifty - Hovering @ Crucial Support of 2880/ Bearish Breakout may wipe off 60-70 Points Be Scrip and sector Specific / Both Bullish & Bearish Opportunities Available * RANBAXY LABS. ! Getting oversold-Recovery to 218 likely * WELSPUN GUJ. ! Target of 86-87 maintained-Corrective decline to 73-74 likely * HCC ! Bullish pattern in EST charts-2 close above 46 may target 51 in near term * GNFC ! All set to cross 75 in near term-Use corrective decline to 60 for buying with SL * GSS AMERICA ! Target of 150 achieved-Decline to 132-131 likely * INFOSYS ! Highly oversold-Recovery to 1265 on charts * SIEMENS ! All indicators favor rise to 245-0Buy on declines with SL * MARUTI UDYOG ! Strong support around 610-Likely to cross 675 if support is held * HPCL ! Overbought in EST charts-Decline to 288 likely * CORE PROJECTS ! Oversold in hourly charts-Technical recovery to 56-57 on charts * BHEL ! EST charts favor decline to 1380-Use recovery for profit booking * DLF LTD. ! Target of 160 achieved-Corrective decline to 151 likely * JP ASSOCIATES ! Mildly bearish in EST charts-Further decline to 68 likely * IB REAL ESTATE ! Overbought in EST charts-Corrective decline to 97-98 likely * REL. CAPITAL ! Bullish targets maintained-Corrective decline to 401-402 likely * PUNJ LLOYD ! Mediun term target of 105-110 maintained-Use every decline for buying with SL * TATA STEEL ! Bearish breakout in hourly charts-2 close below 184 may target 176 in near term * RASHTRIYA CHEM. ! Heading for 48-49/Buy on every decline with SL * SESA GOA ! Enters oversold zones-Technical recovery to 96.5 likely * RELIANCE INDS. ! Bearish breakout in hourly charts -Stock may lose Rs.50/-on confirmation. * LITL ! Target of 140 maintained- Use every decline towards 125 for buying with SL. * CAIRN INDIA ! Enters oversold zones in EST charts-Technical recovery to 164 likely * AXIS BANK ! Bullish pattern in making-Close above 435 may target 500 in near term
Bulls & Bears (Technically Speaking)
Siemens Ltd. (Daily)	Rashtriya Chem. (Daily)
FRESH ADVISORY RECOMMENDATIONS For Extreme Short Term Investors/ Intra-Day Traders Note: Read the Disclamer First .It is always advisable to use Stop Loss with every Trade. The Stop Loss Level may vary according to the Time Frame & Profit Margin for which any trade is being initiated.
Recommendations for 13.02.2009 Opening Price is considered around close of previous day. Avoid BUYING if Prices open abnormally High and Avoid SELLING if prices open too low. 1). GNFC (Or Fut) : Buy 3000 Shares (1500 on declines till 61 + 5x300 at Fall of every Rs1/- ) in ' Investment A/C' . Target 75+. Avg SL Rs3/-. 2). Core Projects (Or Fut) : Buy 3000 Shares (1500 on declines till 50 + 5x300 at Fall of every Rs1/- ) in ' Investment A/C' . Target 57+. Avg SL Rs2/-. 3). J P Asso (Or Fut) : Sell 3000 Shares (1500 at opening @ 75 + 5x100 at Rise of every Rs1- ) in ' Trading A/C' . Target 69. Avg SL Rs2/-. 4). Rel Capital (Or Fut) : Sell 1000 Shares (500 at opening @ Prv Close + 5x100 at Rise of every Rs1- ) in ' Trading A/C' . Target 402. Avg SL Rs8/-.

Recognia Technical Event® Alerts at Close of Business February 11, 2009

The following alerts have been triggered. Each alert may produce a list of up to 50 Technical Event® opportunities matching the selected criteria. If you find that the list of matching Technical Event® opportunities is too long, try narrowing your alert criteria.

Alert Name: India, Bullish Alert Criteria: Stocks (Any Indian Exchange); Price at least 30.00 and above the 200-day moving average; Volume at least 10,000; Classic Patterns; Bullish; Pattern Duration at least 25 days; Possible Price Move of at least 10%. Symbol Exchange Name Event Close at Event Target Price Range Opportunity Type ACC BSE ACC Ltd Diamond Bottom 558.15 657.00 - 682.00 Intermediate-Term Bullish VST BSE VST Tillers Tractors Ltd Double Bottom 136.25 177.00 - 187.00 Long-Term Bullish Alert Name: India, Bearish Alert Criteria: Stocks (Any Indian Exchange); Price at least 50.00 and below the 200-day moving average; Volume at least 10,000; Classic Patterns; Bearish; Pattern Duration at least 25 days; Possible Price Move of at least 10%. Symbol Exchange Name Event Close at Event Target Price Range Opportunity Type BFRG NSE Bharat Forge Ltd Continuation Diamond (Bearish) 81.60 52.00 - 58.00 Intermediate-Term Bearish CAIL BSE Cairn India Ltd Top Triangle 162.00 116.00 - 124.00 Intermediate-Term Bearish CAIL NSE Cairn India Ltd Top Triangle 162.40 115.00 - 124.00 Intermediate-Term Bearish MPSE BSE Mundra Port And Special Economic Zone Ltd Top Triangle 370.70 275.00 - 292.00 Intermediate-Term Bearish MPSE NSE Mundra Port And Special Economic Zone Ltd Top Triangle 371.80 273.00 - 291.00 Intermediate-Term Bearish PTNI NSE Patni Computer Systems Ltd Continuation Diamond (Bearish) 112.55 74.00 - 82.00 Intermediate-Term Bearish Alert Criteria: Stocks (Any Indian Exchange); Price at least 5.00; Classic Patterns; Bearish; Daily Events; Pattern Duration at least 25 days. Symbol Exchange Name Event Close at Event Target Price Range Opportunity Type BFRG NSE Bharat Forge Ltd Continuation Diamond (Bearish) 81.60 52.00 - 58.00 Intermediate-Term Bearish BINC NSE Binani Cement Ltd Continuation Diamond (Bearish) 29.85 17.00 - 19.00 Intermediate-Term Bearish BLUI BSE Blue Star Infotech Ltd Symmetrical Continuation Triangle (Bearish) 47.85 20.00 - 25.00 Intermediate-Term Bearish CAIL BSE Cairn India Ltd Top Triangle 162.00 116.00 - 124.00 Intermediate-Term Bearish CAIL NSE Cairn India Ltd Top Triangle 162.40 115.00 - 124.00 Intermediate-Term Bearish CEIT BSE Cerebra Integrated Technologies Ltd Descending Continuation Triangle 6.34 2.90 - 3.60 Intermediate-Term Bearish CRSL NSE Crisil Ltd Symmetrical Continuation Triangle (Bearish) 2,350.00 1,568.00 - 1,715.00 Intermediate-Term Bearish DHRC BSE Dharamsi Morarji Chemical Co Ltd Descending Continuation Triangle 5.00 2.20 - 2.70 Intermediate-Term Bearish ESIL BSE Eastern Silk Inds. Ltd. Continuation Diamond (Bearish) 8.11 3.20 - 4.10 Intermediate-Term Bearish HATH BSE Hathway Bhawani Cabletel & Datacom Ltd Symmetrical Continuation Triangle (Bearish) 5.79 2.70 - 3.30 Intermediate-Term Bearish JHSS NSE JHS Svendgaard Laboratories Ltd Top Triangle 14.00 7.00 - 8.25 Intermediate-Term Bearish JINP BSE Jindal Photo Ltd Symmetrical Continuation Triangle (Bearish) 79.70 33.00 - 42.00 Intermediate-Term Bearish KDDL BSE K D D L Ltd Descending Continuation Triangle 15.50 6.00 - 7.75 Intermediate-Term Bearish KRON BSE Krone Communications Ltd Continuation Diamond (Bearish) 63.60 46.00 - 49.00 Intermediate-Term Bearish MENO BSE Menon Bearings Ltd Symmetrical Continuation Triangle (Bearish) 43.00 21.00 - 25.00 Intermediate-Term Bearish MGF BSE Motor and General Finance Ltd Symmetrical Continuation Triangle (Bearish) 22.60 10.00 - 13.00 Intermediate-Term Bearish MPSE BSE Mundra Port And Special Economic Zone Ltd Top Triangle 370.70 275.00 - 292.00 Intermediate-Term Bearish MPSE NSE Mundra Port And Special Economic Zone Ltd Top Triangle 371.80 273.00 - 291.00 Intermediate-Term Bearish NEFI BSE Network 18 Media & Investments Ltd Top Triangle 80.40 36.00 - 44.00 Intermediate-Term Bearish ORPP BSE Orient Paper & Industries Ltd Continuation Diamond (Bearish) 21.95 13.75 - 15.25 Intermediate-Term Bearish PAAE BSE Parker Agrochem Exports Ltd Diamond Top 14.05 10.90 - 11.50 Intermediate-Term Bearish PTNI NSE Patni Computer Systems Ltd Continuation Diamond (Bearish) 112.55 74.00 - 82.00 Intermediate-Term Bearish RCST BSE Ruchi Strips & Alloys Ltd Descending Continuation Triangle 5.50 2.20 - 2.80 Intermediate-Term Bearish RPG BSE RPG Cables Ltd Continuation Diamond (Bearish) 11.27 6.90 - 7.70 Intermediate-Term Bearish SBNK NSE Syndicate Bank Ltd Continuation Diamond (Bearish) 64.00 46.00 - 50.00 Intermediate-Term Bearish SBRO BSE Sabero Organics Gujarat Ltd Top Triangle 12.96 9.30 - 10.00 Intermediate-Term Bearish SHPU BSE Shakti Pumps (India) Ltd Descending Continuation Triangle 61.00 36.00 - 41.00 Intermediate-Term Bearish SLVR BSE Silverline Technologies Ltd Symmetrical Continuation Triangle (Bearish) 6.95 3.20 - 3.90 Intermediate-Term Bearish SNCT BSE Sanco Trans Ltd Continuation Diamond (Bearish) 95.45 49.00 - 58.00 Intermediate-Term Bearish VMSH BSE Vamshi Rubber Ltd Descending Continuation Triangle 9.55 5.90 - 6.60 Intermediate-Term Bearish WHIR BSE Whirlpool of India Ltd Continuation Diamond (Bearish) 26.45 20.25 - 21.25 Intermediate-Term Bearish

2880 holding.....

Thursday, February 12, 2009

Contrary to my belief US markets did not pull back by 40 to 50 pc of earlier day's fall. This made Asian markets little jittery and India too saw selling pressure in pivotal. This brought pressure on the Sensex. Side counters shown typical character. Another stock which broke the WWIL record today was Hexaware which was by 100% in one session. This is part of value bridging. The stocks which ought to have been valued at book value were raped to 25 pc of the book value for no reason. Therefore whenever this exercise had to happen it will happen in this fashion only. The only exception of this game is the stocks where ledger has control and will to sell to expose the weak promoters in connivance with bear operators. Bears could not much in Bhel, Bharati, Maruti, RIL, SBI, PNB, LIC housing and Akruti and have burnt their fingers. No doubt their net margins will be still imaginably high due their KING size operations in realty stocks. I had mentioned on this column about Educom at 1200 and stock had become Rs 2000. I had mentioned about Akruti at 800 which already become Rs 1025 and yet the chances of settlement is not in sight. The day Akruti see big bloc deal at 10% lower the current market price we can take for sure that the game is over. Till that time keep your fingers crossed. It may cross even 1500. IIP Data and inflation nos were in line but market created some confusion among traders which had happen in any case. Some profit booking was on cards. Yet the fact remains that market held above 2880 which is a great indicator of further upside. The approach has to be cautious ahead of Budget. There will be certain disappointment on budget and bears will try to attack once again for sure. Only if the budget surprises street expectation then probably you can see much faster rally to 3150 and 3300 in this month itself. Above 3300 there could be chance of hitting 3800 by March end. US by accepting Rs 1 tr stimulus package has send very clear signal that U S Govt could go one step ahead and make another 1 tr USD package in next 3 months which is sufficient to avert to credit crisis including the so called credit card problem. Thus it seems the negative sentiment is nothing but stretched reaction and effect of huge short sell. This protects downside and opens the floodgate of sudden rise on any given point in time which cannot be seen today. After Educom and Akruti now it is time for ABAN short covering. RIL took 3 offshore rigs recently. ABAN is always a great story going forward and with more and more oil and gas find the prospects are still brighter. Aban dab patch started with Prime getting exposed and selling all their stuff. Then short sellers making merry in the stock. Now that the stock is much below its intrinsic value and now the one man army has entered today in this counter to take head on the bears as per sources. One man army has impeccable track record which we have all seen in Educom, Bharati, LIC Housing and Akruti. Now we can expect the same in Aban. Very interestingly he will also bring some FII's along with him which is sufficient to keep the counter on fire. Personally, I am always ready to learn, although I do not always like being taught.