Weekly Market Outlook 3rd Week of April - 18th April 2011 - Disclaimer Post Applies

On the Nifty this week we would like to adopt the strategy to wait and watch due to the high volatility seen during the last few days. We believe that the trend for the Nifty could more likely be in the negative direction rather than a positive up move. However since a lot of corporate results are due this week and in the coming few weeks, we believe that its best to wait out for the market to give us a direction rather than anticipate a direction and pre-empt a move. As far as the stocks are concerned we have identified the following 3 for trading this week: 1. Short: DLF @ 245.05 Tgt: 234 SL: 255 2. Short: Hexaware @ 70.50 Tgt: 66 Sl; 74 3. Long: Kiri Dyes @ 313 Tgt: 330 SL: 300 (2weeks) Thanks, Gaurav Agarwal Head Dealer DENIP Consultants Pvt Ltd