Report ----- for Friday 14th

Nifty 50 Index ( 90 Minute Chart)

Mildly Bearish in Extreme Short Term but strong Support at 6000 and 5925

What the Charts Foretell
(FOR Short Term Investors)

* NIFTY/ SENSEX !
Nifty - Mildly Bearish Indications - But Strong Support between 5925 and 6000
Overbought Stocks to lose some weight - No Indication for Trend Reversal Yet

* ICICI BANK !
Short term bearish target of 1245 achieved-Charts favor technical recovery to 1280

* UNITECH !
Overbought with negative divergences-EST charts favor decline to 450 in coming sessions

* CIPLA !
Bullish pattern in making in hourly charts-Likely to cross 215 in near future

* OMAXE LTD. !
Heading for 520-Book profit on every rise to re-enter below 520

* RELIANCE ENERGY !
Short term support at 1895-Bearish breakout will target 1800 in couple of sessions

* HDIL !
Mildly bearish in hourly charts-Corrective decline to 940 indicated in couple of sessions

* TATA POWER !
Strong resistance at 1350-Bullish breakout may target 1500 in coming sessions

* BALLARPUR !
Overbought in hourly charts-Minor decline to 174-175 likely

* IFCI !
Bullish breakout in EST charts-Likely to cross 120+ in coming sessions

* TTML !
Indicators favor rise to 65-68/Use corrective declines for fresh buying with SL


* JP HYDRO !
All indicators favor rise to 135+/Buy on every decline with SL of 118

* GTL INFRA !
Breakout from bullish pattern-Buy on declines with SL for target of 78-80 in near future

* IDEA CELLULAR !
Target of 150+ maintained-Buy on every decline towards 139 with SL

* OSWAL CHEM. !
Mildly bullish in EST charts-Close above 70 will target 85+ in coming sessions

KS OILS !
Continues to be in overbought zones-Corrective decline to 94-95 indicated on charts

* ANSAL INFRA !
Overbought with negative divergences-Charts favor further decline to 399-400 in coming sessions

* CAIRN INDIA !
Bullish pattern in making-Close above 222 will target 245 in coming sessions

* MRPL !
Strong support at 130-Bearish breakout may wipe off Rs.10/- in few sessions

* IND. HOTELS !
On verge of bullish breakout in daily charts-Close above 153 may target 175 in few sessions

* TATA STEEL !
Bullish breakout in daily charts-Another close above 880 with volumes will target 950 & 980 in coming sessions

* AIR DECCAN !
Short term resistance at 290- 2 close above 290 will target 330 in coming sessions

* DLF !
Short term support at 1010-Bearish breakout may wipe off Rs.30/- in few sessions

* STERLITE INDS. !
Extreme short term support at 1065-Bearish breakout with volumes to target 1005 in near future

* GAIL !
Bearish target of 500 maintained-Use higher levels to book short term profits

Recommendations for 14.12.2007

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). IFCI (Or Fut) : Buy 2500 Shares (1300 at opening + 4x300 at Fall of every Rs1/- ) in ' Investment A/C' . Target 119. Avg SL Rs3/-.
2). J P Hydro (Or Fut): Buy 2000 Shares (1000 at opening + 5x200 at Fall of every Rs1/- ) in ' Investment A/C' . Target 135. Avg SL Rs4/-.
3). Ansal Infra (Or Fut): Sell 1500 Shares (700 at opening + 4x200 at Rise of every Rs2/- ) in ' Trading A/C' . Target 400 Avg SL Rs15/-.
4). Unitech (Or Fut) :Sell 1500 Shares (700 at opening + 4x200 at Rise of every Rs2/- ) in ' Trading A/C' . Target 450 Avg SL Rs15/-.

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