Daily Trading Tips

Market Outlook

Yesterday market opened negative and saw sustained selling pressure through out the day and during last two hours session, selling pressure got intense. Nifty finally closed near day's low which is a bearish implication. Taking cues from the global markets, even today our markets may open negative. Market has strong support at 4750 levels, if Nifty breaks these levels, further selling pressure may be seen till 4700-4650 levels. On upside if Nifty move above 4900 levels then we may see some short covering in the market till 4950 – 5000 levels. Short term trend for the market is negative till the time Nifty is below 4900 levels.

ABB

Execution Price Range                   Stop Loss        Target

Sell Between Rs 790 to 798              800                782

PUNJLLOYD

Execution Price Range                   Stop Loss         Target

Sell Between Rs 180 to 184             187                   172 

JINDAL STEEL

Execution Price Range                   Stop Loss            Target

Sell Between Rs 630 to 636            640                       618

POST MARKET ANALYSIS FOR 4TH FEB (FREE STOCK RECOMMENDATIONS FOR 5TH FEB)

The Money Expert

Post Market Analysis for 4th FEB.   Dear readers, As expected the markets virtually were in no mood to recover and extend the gains from yesterday's rally, all in all one of the worst days in market for traders and investors. Nifty saw fresh short positions built up and profit booking in huge volumes. Nifty losers were lead buy Hindalco and Jai corp. though Gail extended good gains. Indian Markets started on a soft note followed by global cues, Hangseng collapsed leading to the downfall of many Asian indices. I had written in my previous letter break below 4850 could lead to panic and we could see nifty drifting lower and lower on account of weakness, Nifty touched an intraday low of 4824 before closing near 4838 down 88 points from previous close. News: Increasing food inflation a cause of worry and uncertainty over the budget allocation loomed large on the sentiments. SenSex (prov): 16,225 down 272 points, Nifty (prov): 4838 down 88 points.   As recommended Nifty below 4900 it can test 4867, it happened the same way and Nifty crashed by more than 66 points towards the end. Our Recommendations for today: Astec Life: from 68 to 72 Ultra Tech: from 963 to 958 ABG ship: from 338 to 345 Infiniti Comp: from 207 to 211.5 then made a high of 218 Havells India: from 562 to 579 then made an high of 583 Gujrat gas: from 262 to 264.5 Zandu Pharma: from 4600 to 4750 Only Resurgere mines did not perform well and also  missed the target by 20 basis points. Stocks to watch on: We mentioned ABG, Astec and Educomp for previous day and all three gave huge opportunity for trades. Tomorrow watch DLF, Advanta and Think soft. In fact I would suggest our members to stay cautious on Thinksoft ltd. as stock has touched an all time high of 501, the reversal of the stock can happen any time when one starts exiting this counter. Stock to buy for Thursday: Buy Rajesh Expo above 111 for the targets of 112.5 to 115 SL 109.   Nifty for Friday: Nifty seems to be in complete bearish trend as any pull back is short lived and fresh short positions are getting built up, on the downside if Nifty breaks 4790 it could lead to a further down fall up to 4760 then 4710. On the upside Nifty needs to close beyond 4950 for any significant upside.     For Free Stock tips please add indianmoney11@yahoo.com in your yahoo messenger.