Report ----- for Tuesday 15th

* Nifty 50 Index ( 90 Minute Chart) !

Mildly Bullish Indications but Likely to face Resistance at 6320-6350

What the Charts Foretell
(FOR Short Term Investors)

* NIFTY/ SENSEX !
Nifty - Makes "Lower Tops and Lower Bottoms' in Hourly Charts/ Likely to face Resistance at 6250-6300
Continue to be Scrip Specific - Both Bullish & Bearish Opportunities Available

* HCC !
Strong resistance at 240-Bullish crossover with volumes will target 265 in coming days

* RELIANCE INDS. !
Extremely overbought in hourly charts-Corrective decline to 3185 likely

* DLF !
Short term resistance at 1210-Bullish crossover with volumes may target 1300 in coming days

* HPCL !
Bullish breakout in EST charts-Indicators favor rise to 375 in coming sessions

* INFOSYS !
Strong support at 1520-Ripe for technical recovery to 1585 to 1590

* TATA STEEL !
Short term support at 830-Bearish breakout will target 795-800 in coming sessions

* INDIAN BANK !
Bullish indications in EST charts-Likely to cross 235 in near future

* PENINLAND !
Bullish pattern in making-Another close above 155 will target 175 in near future

* RNRL !
Overbought in EST-Book profit to re-enter below 212

* ISPAT INDS. !
On verge of bearish breakout in EST charts-Break of 66 may wipe off Rs.7-8/- in near term

* NTPC !
Heading for 300 & 340 in coming sessions-Use declines towards 281 for fresh buying with SL

* IDEA CELLULAR !
All indicators in favor of rise to 155+/Use every corrective decline for fresh buying with SL

* SAIL !
Bearish indications in short term charts-Use pullback to book profit to re-enter below 220

* JP HYDRO !
Minor resistance at 130-Bullish crossover with volumes may target 135+

* POWER GRID !
Bullish indications in hourly charts-Likely to cross 152-153 in coming sessions


* HOTEL LEELA!
Mildly bullish-Indicators favor rise to 73-74 in coming days

* BHARTI AIRTEL !
Highly oversold in EST charts-Ripe for technical recovery to 925-927

* GUJ NRE COKE !
Short term resistance at 125-Bullish crossover with volumes will target 180+ in coming days


* UNITECH LTD. !
Bullish pattern in making-Close above 534 will target 562-565 in coming days

* SATYAM COMPUTERS !
Highly oversold in hourly charts-Technical recovery to 410 likely

* ANDHRA BANK !
On verge of bullish breakout-Likely to cross 150 on confirmation

* BAJAJ AUTO !
Highly oversold in EST charts-Technical recovery to 2588 likely

* DR. REDDY !
Non stop decline from 760 to 660-Technical recovery to 705 indicated on charts

Bulls & Bears (Technically Speaking)

Recommendations for 15.01.2008

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). Infosys (Or Fut) : Buy 500 Shares (200 at opening + 6x50 at Fall of every Rs5/- ) in ' Investment A/C' . Target 1585. Avg SL Rs25/-.
2). Penninland (Or Fut): Buy 1500 Shares (700 at opening + 4x200 at Fall of every Rs2/- ) in ' Investment A/C' . Target 175. Avg SL Rs5/-.
3). Idea Cellular (Or Fut): Buy 1500 Shares (700 at opening + 4x200 at Fall of every Rs2/- ) in ' Investment A/C' . Target 155. Avg SL Rs5/-.
4). Reliance Ind. :Sell 500 Shares (200 at opening + 3x100 at Rise of every Rs15/-- ) in ' Trading A/C' . Target 3185. Avg SL Rs20/-.

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