Report ----- for Friday 2nd

What the Charts Foretell
(FOR Short Term Investors)

* NIFTY/ SENSEX !
Nifty - Breaks Extreme Short Term Support - BUT Strong Support @ 5725-5750
Be Highly Scrip & Sector Specific - Book Profit in Highly Overbought Stocks

* RNRL !
Medium term bearish target of 115-105 maintained- Book part profit on recovery rise to renter

* RELIANCE PETRO !
Medium term bearish target 216-217 maintained- Book profit on any rise towards 280

* IDBI !
EST charts favor further decline to 143-144/ Use technical recovery for profit booking

* GMR INFRA !
Short term support at 176 -Decisive close below 176 may target 168 -169 in few session

* PETRONET !
Bearish breakout in EST charts - Use pull back to book profit to renter below 82

* CARIN INDIA
Intra day bullish target achieved - Buy around support of 206 for medium term

* JP HYDRO!
Bearish indications in EST charts- Likely to decline to 72-73 in few session

* MRPL .
Breaks below the EST support - Charts favor decline to 72-73

* NTPC !
EST charts in favor of decline to 223-224 /Use higher levels to book profit to renter below to the targets

* BHARTI AIRTEL !
Highly oversold in intraday charts- Ripe for technical recover to 975-980

* RELIANCE INDS . !
Target of 2560 achieved - Technical recovery to 2690 on charts

* RELIANCE ENERGY !
Short term support at 1750 -Bearish breakout may wipe of Rs.75/- in coming session

* DLF LTD !
Bearish pattern in making -Close below 925 may target 875 in few sessions

* PUNJ LLYOD !
Bearish "Head and Shoulder" pattern in making - Decline to 445 -415 likely on conformed breakout

* STERLITE INDS !
Breakout for "Rising Channel" pattern- Use technical recovery to book profit to renter below 940

* UNITECH LTD !
Bearish" Double Top" pattern in EST charts- Ready for decline to 355 in near future

* RANBAXY LAB !
Mildly bullish in hourly charts - Buy on decline for target of 455

* STATE BANK OF INDIA !
Strong support at 2050- Bearish breakout will wipe of Rs.125-150/- in near term

* BANK OF BARODA !
Mildly bearish in intra day charts- Ripe for decline to 330in near term

* BONGAIGON REFINERY !
Bearish " Head and Shoulder" pattern in intra day charts- Likely to loose Rs.6-7/- in couple of session

* GUJRAT ALKELI !
EST support at 172-Desiiceive breakout may target 156-157 in near future

* ZEE ENTERTAINMENT !
Highly oversold in EST -Ripe for technical recovery to 328-329


* APTECH TRAINING . !
Bearish breakout in EST charts - Further decline to 343-344 likely

Recommendations for 02.11.2007

Opening Price is considered around close of previous day. Avoid BUYING if Prices open abnormally High and Avoid SELLING if prices open too low.

1). Unitech (Or Fut):Sell 1500 Shares (700 at opening @ 270 + 4x200 at Rise of every Rs1/- ) in ' Trading A/C' . Target 355+ Avg SL Rs12/-.
2).Zee Ent (Or Fut) : Buy 1000 Shares (500 at opening + 5x100 at Fall of every Rs2/- ) in ' Investment A/C' . Target 328+ Avg SL Rs7-.
3). Tata Tea (Or Fut): Buy 500 Shares (200 at opening + 6x50 at Fall of every Rs5/- ) in ' Investment A/C' . Target 870+ Avg SL Rs15-.

----- With due apologies and full credits to Kalpataru