The Nifty gained 54 points over the day to close at 4855. After
many trading sessions the bulls made a decisive comeback
yesterday leading to a strong rally. After a gap-up start the index
stayed quietly in a range in the first half that took shape of a
bullish reversal pattern from which we spotted an upside
breakout around mid-day at 4818 levels leading to a huge rally
towards the end. The upmove was on good volumes and with
excellent momentum. Whenever the IT and Banking segments
have done well in the recent past the indices have moved up in

Intraday Tips

Tata Steel (Rs. 585)

Buy only on a move above 585 with a stop loss below 572 for an intra-day target of 605.

 Nifty Technical Analysis - Judgment Day

The Nifty gained 14 points over the day to close at 4867. The
Indian markets underperformed the rest of Asia yesterday as
they could not build-up on the gap-up start. After the initial rally

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Hero Honda Dec. Future (Rs. 1681)

Buy only in the region 1680-1684 with a stop loss
below 1668 for an intra-day target of 1710

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* Indiabulls Real Est. Dec. Future (Rs. 206)

Sell only on a move below 204 with a stop loss
above 208 for an intra-day target of 197.

* Aban Offshore Dec. Future (Rs. 1159)

Sell only on a move below 1155 with a stop loss
above 1175 for an intra-day target of 1128 and
1105.

HOT FROM THE PRESS

* RANBAXY : launches the generic version of Glaxo Smithkline's blockbuster drug
 Valtrex (anti-herpes drug) in the US

* BANKS : Govt will provide Rs 50bn to public sector banks to beef up their
 capital.. this will be in addition to the Rs160bn provided by World Bank

* TATA POWER : 2Q consolidated PAT Rs 3.68bn v/s 5.28bn, Rev Rs 45.8bn v/s 46.4b

* SIEMENS : Sep FY09 PAT Rs 7.05bn v/s 6bn, Rev Rs 92.86bn v/s 96.8bn.. board

Hot Stock News

* JET AIRWAYS : FIPB refers Cos Rs 20bn fund raising plan to cabinet

* ONGC : Mittal has pulled out of project to develop an oil block in Kazakhstan
 with JV partner ONGC Videsh.. ONGC Videsh to develop it alone

* PATNI : Japan's NTT grp enters race to acquire 66% stake held by Patni          

Market View Technical Analysis

Be A Shock Absorber
 

• Bank Of Baroda Nov. Future (Rs. 506) Buy only on a move above 514 with a stop lossbelow 504 for an intra-day target of 527. • Punj Lloyd Nov. Future (Rs. 189) Buy only in the region 188-191 with a stop lossbelow 183 for an intra-day target of 199. Note: More intra-day opportunities will be providedlive during the market hours

HOT STOCK NEWS

* NTPC : Cabinet approves stake sale to raise Rs 86bn from 5% dilution

* TCS : Q2 PAT Rs 16.4bn v/s 12.7bn (JMFe 15.3bn, street Rs 15.1bn), sales
+6.9% @ Rs 74.4bn (JMFe 73.69bn).. gets 2 large deals from Indian states, 2
large deals for e-governance project.. CFO says Cos order book as healthy as
"pre Lehman days", has enough orders to grow for 2-3 yrs

* RELIANCE IND / RELIANCE NATURAL RES : hearing on the ongoing gas dispute
begins in the Supreme Court today

* CEMENT : CMIE states cement pxs expected to weaken during remain period of