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Stock Tips For 24 August 2009

Markets may remain volatile ahead of F & O expiry

The market remained highly negative during the first half of the last week on China factor but with strong cues emanating from the global markets and Chinese markets recovering in later part of the week, markets recovered sharply and pared earlier losses. However, the Sensex despite cutting down its earlier losses closed in the negative losing around 170 points or 1.1% as it settled at 15,240. The Nifty closed lower by 51 points or 1.1% at 4528. The market may remain volatile this week on account of roll over of F & O contracts by the investors to September series. Poor rains this season till now will definitely weigh on the market. However, Prime Minister recently said that India is equipped to handle a widespread drought as there is room for several fiscal steps to cushion the impact of a dry spell. Further, FII’s activity and global cues too may continue to play a major role in setting the market direction. Meanwhile, despite reports that U S economy is well on the recovery path, eminent economists differ on this count and feel that a full recovery is still some way off. Back home, the market may see some short-covering ahead of derivatives expiry which may result in high volatility in the markets.

BUY NIFTY ONLY ABOVE 4554 STOPLOSS- 4529 TARGET- 4580/4618/4670 ..SELL NIFTY BELOW 4504 STOPLOSS- 4525 TARGET- 4465/4427.

BUY INDIABULLS REAL ESTATE ABOVE 258 SL- 247 TARGET- 271-284.

BUY AIAENG ABOVE 257 SL- 254 TARGET- 263-271 .

BUY PUNJALLOYD ABOVE 243 SL-239 TARGET- 250-257.

BUY ICICI BANK ABOVE 748 SL- 742 TARGET- 757-770-782.

WATCH REAL ESTATE , TEA SECTOR FOR BUYING COMING WEEK AND WATCH STEEL AND CEMENT SECTOR TO SELL ON RISE .

BUY MRF
Around 4280
4550-4800
4230
Investment for Short Term

YESBANK (Yes Bank Limited )
Action
BUY ABOVE 174
Stop Loss 168.8
Target-1 179.5
Target-2 186

S.SELL
BELOW 168
Stop loss 169.5
Target-1 163
Target-2 155

MCLEODRUSS ( Mcleod Russel India Ltd. )
BUY ABOVE 175
Stop loss 167
Target-1 184
Target-2 193

S.SELL
BELOW 166
Stop loss 168
Target-1 159
Target-2 144

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