1.Infosys Feb. Future (Rs. 2491)

Buy only on a move above 2505 with a stop loss below 2478 for a 2-day target of 2550 and 2584.

2. ICICI Bank Feb. Future (Rs. 826)

Buy only on a move above 831 with a stop loss below 819 for an intra-day target of 845.

3. Siemens (Rs. 640)

Buy in the region 630-640 with a closing stop loss below 595 for a short and medium-term target of 740 and 820 respectively.

The Nifty lost 154 points over the day to close at 4853. The selloff
continued yesterday as the markets opened gap-down and
just kept making lower lows consistently barring one minor
pullback of 50 Nifty points. The downtrend intensified once the
index broke the all-important support of 4930 in the first hour of
trading after three unsuccessful attempts to rebound. The
bearish continuation pattern in the form of “Triangle” that we
pointed out yesterday (See Exhibit 1 on Page 2) was another

1. Srei Infrastructure (Rs. 88)

Buy only in the region 86-88 with a stop loss
below 81 for a short and medium-term target of
105 and 130 respectively.

2. Universal Cables (Rs. 92)

Buy only in the region 91-93 with a stop loss
below 81 for a short and medium-term target of
110 and 135 respectively.

3. Noida Toll (Rs. 40)

Buy only in the region 39-40 with a stop loss
below 37 for a short and medium-term target of 46
and 54 respectively.