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Email Extract:

Dear All,

The markets witnessed price decrease with heavy volumes as compared to the previous session so far. The screen saw much more RED than Green. The combination of price decrease along with a decrease in open interest for most stocks suggests that the markets witnessed “Winding up of long positions”. For the third consecutive session the markets witnessed more activity towards CALL rather than PUTs which also signals weakness in the markets.

As far as our stock ideas go, we are going to be carrying forward all our calls for the week and do not have any new calls since although the markets have witnessed a sell off the undertone remains positive. Following are the calls that are carried forward for the week.

·         Nifty – Long since 5244 for a target of 5300 (First target of 5270 met)

1.       Our stop loss at 5180 got violated with the Nifty testing 5176 but it looks like with the close above 5200 i.e. at 5243 Nifty will scale back again to 5300.

·         Amtek Auto – Long since 186 for a target of 196 (5% return)

1.       Closes at 183.64 and day low of 180.35. stop loss not yet triggered which is at 180

·         DLF – Long since 390 waiting for best target of 412 (Target 3 of 400 met as mentioned in the Weekly Market Outlook) (3% return already met with, at best target we achieve a 6% return)

1.       Closes at 387.85 with a high of 389.7. is a rate sensitive stock and hence got corrected.

·         HDFC Bank – Long since 1713 waiting for Target 3 (1750) & Best Target (1760) (Target 2 of 1732 met as mentioned in the Weekly Market Outlook) (Only 1% return with target 2 being hit but at best target we achieve a 3% return)

1.       Fell another 1% to 1689

·         Reliance Industries – Short for a target of 1050. CMP 1081 (3% return)(We are still bearish on Reliance Industries and hopefully the target will be achieved in a week’s time)

1.       Is finding major support at from 1060 – 1080. We advise you to close the short on this stock.

·         Unitech – Long @ 90.4 for a target of 95 (5% return expected)

1.       Rate sensitive stock and hence has been correcting since the past few days.

·         Satyam – Long since 115.95 for a target 125 SL at 114

1.       Closed at 116.7 with a day high of 117.4; on its way to 125

I have also attached the weekly market outlook we sent on Sunday night, in case some1 has misplaced/deleted it.

Thanks,

Dewang