Today’s Intraday and Short term Calls

The week ended flat amid low volatility but with somewhat positive bias. The market remained firm throughout after the growth oriented budget (as termed by corporates sector) last month and hopes of economic revival on the back of some encouraging data from across the globe.
Also, it appears that the near term prospects of the market remains positive in the absence of any negative news in sight.
Market can be keenly watching advance tax payment figures being paid by corporate houses as the last installment which falls due on 15 March 2010. The data on inflation will also play a key role in dictating the trend. Meantime, the markets have been on rise since the first week of March of 2010 on sustained buying by foreign funds.

Intraday/Short term calls

SUPPORT FOR NIFTY 5111/4933
RESISTANCE FOR NIFTY 5166/5222

CAIRN INDIA LTD
LAST CLOSE – 276.65 …….
BUY BETWEEN 270-274
STOPLOSS : 264 (CLOSING BASIS )
TARGETS : 285-293-300 IN SHORT TERM

NALCO FUTURE (Last close 391.00)
The stock closed on Friday with positive bias with low volumes.
The stock appears positive on charts and may move up to 400/405 once it trades and remains above 393.20.
Strong support for the stock exists at 387.00.

AUROPHARMA
Buy: Around 972
Target: 985
Stoploss: 967

CHEMPLAST
Buy :Around 11.60
Target: 15
Stoploss : 9.90
Type of call : Very Short Term (about 3-4 days)