Report - for Monday 11th

* Nifty 50 Index (10 Minute Chart) !
Bearish in Daily Charts but Momentum Indicators in 5/10 Min Charts favour Recovery to 5250-5275
Fresh Bullish Indications in Select IT / Petro / Bank Stocks - Be Scrip Specific

What the Charts Foretell
(FOR Short Term Investors)

* NIFTY/ SENSEX !
Bearish in Daily Charts but Momentum Indicators in 5/10 Min Charts favour Recovery to 5250-5275
(Strong Support @ 4950 or expect further decline towards 4250 in coming Weeks)
Upward Bar Reversal in Daily Charts in Many Heavy Weight stocks
Fresh Bullish Indications in Select IT / Petro / Bank Stocks - Be Scrip Specific

* ROLTA !
Mildly bullish in EST charts- Indicators favours rise to 315 in near future.

* NIIT TECH !
Bullish breakout in hourly charts- Likely to cross 129-130 in coming sessions.

*SATYAM COMPUTER !
Bullish pattern in making - Close above 417 may target 450 in few days.

* NETWORK 18 !
Strong resistance at 370 - Bullish breakout will target 415 in near future.

* CROMPTON GREAVES !
Highly oversold in short term charts-Technical recovery to 305 likely.

* OBC !
On verge of bullish breakout- Close above 285 will target 325 in coming days.

* H P C L !
Minor resistance at 285 -Bullish cross over with volume may target 325 in near future.


* ONGC CORP. !
Oversold in EST charts- technical recovery to 1040 likely.

* BPCL !
Minor resistance at 442 - Bullish crossover will target 465 in few sessions.

* SBI !
On verge of bullish breakout - Another close above 2191 may target 2300 in nearn future.


* ESCORTS LTD. !
Target of 118-120 maintained -Use decline towards 100 for fresh buying with SL.

* PNB !
Heading for 670 in near future -Use decline for fresh buying with SL.

* AIR DECCAN !
Bullish breakout and pull back- Close above 195 will target 320 in near future.

* DABUR INDIA !
On verge of bullish breakout - Close above 100 will target 110 in coming days.

* BOMBAY DYEING !
Target of 650 maintained - Use pull back towards 770 for profit booking.

*MARUTI UDYOG !
Technical recovery to 840 indicated in short term charts- Buy gradually on declines.

* NOIDA TALL BRIDGE !
Technical recovery to 54-55 likely -Buy gradually on declines with SL.

* MCDOWELL !
Extremely oversold in short term charts- Ripe for technical recovery to 1680 .

* NTPC !
Recovery target of 213-215 maintained - Buy on declines with SL of 195.

* ADLABS FILM !
Bearish breakout in daily charts- Likely to decline to 850 in near future.

* VSNL !
Strong support around 440 -Likely to bounce back to 490 if support is held.

* LIC HOUSING FINANCE !
Bearish pattern in making another close below 270 will target 230 in coming days.

* JP ASSOCIATES !
Bearish target of 280 maintained - Use pull back towards 340 for profit boooking.

Bulls & Bears (Technically Speaking)

Present Status Of The Market And Future Anticipation

Nifty/ Sensex: Anticipated High-Lows for the Week

Nifty: High -5,175.00 – 5,233.45(Optimistic 5,344.80 – 5,368.55): Low - 4,942.20 – 4,968.68(Pessimistic 4,865.65 – 4,894.60)
Sensex: High -17,804.00 – 17,936.01(Optimistic 18,274.15 – 18,447.25):Low -16,988.49 – 17,091.14(Pessimistic 16,729.94 – 16, 926.54)

PRESENT STATUS OF THE MARKET AND FUTURE ANTICIPATION- Indices continue to be in intermediate down move, although speed of fall has slowed down in last week as compared to the first leg of the fall in which indices fell sharply from 08th Jan 2008 to 22nd Jan 2008 – for this week probability is very bright for indices to take a rally in the second part of the week atleast to ranges 5,175.00 – 5,233.05 & 17,804.00 – 17,936.10 (optimistic 5,344.80 – 5,368.55 & 18,274.15 – 18,447.25) if these take support in ranges 4,942.20 – 4,968.68 & 16,988.49 – 17,091.14 by Tuesday, chances of which are bright. Overall it should be noted that while falling for last 4.50 working days indices have made ‘Island Reversal Patterns’ by leaving a big gap on Wednesday (06th Feb 2008) as compared to Tuesday closings & similar gap was these there at the time of termination of preceding technical rally when indices left gap between 5,320.80 – 5,368.55 & 18,242.58 – 18,447.25 while rising on Monday the 4th Feb 2008 – now if this gap is not covered within present week then indices should pass 6 to 8 working day in a slow downward zig zag manner.

In addition to 3 scenarios we have mentioned in last week’s weekly writeup dated 04th Feb 2008 – one very sensitive observation during present month is whether support emergences whenever indices go below levels 5,043.23 & 17,031.22 – if not and if closing of the month is below these levels then indices should make a low near 4,262.64 & 14,559.49 in the next month.I

If we discuss last week’s movement of indices via-a-vis our anticipation then we find almost perfect behavior – our anticipated optimistic highs were 5,513.58 & 18,903.53 & actual highs were 5,553.90 & 18,895.34 and our anticipated pessimistic lows were 5,045.00 & 17,417.63 while actual lows were 5,003.60 & 17,203.06 and intra week direction was towards our anticipation as we had anticipated that fall will start from Wednesday or before.

TODAY'S TREND: Support in the Second Half.

2) MEDIUM TERM TREND (INTERMEDIATE) :

It continues Down.

Last week 146 scrips have closed lower as compared to 161 scrips in the preceding week (av. fall per scrip at 4 .83% is also lower than the av. fall per scrip of 6.40% in the preceding week) & 82 scrips have closed higher as compared to 70 scrips in the preceding week (av. rise per scrip at 5.58 % is also higher than the av. rise per scrip of 4.57% in the preceding week) out of 250 scrips we follow regularly;

Last week’s A-D data is indicating that although fall continues but it has slow down.

3) LONG TERM TREND (MAJOR) :

It continues up

4) REVIEW OF OUR 'ON - LINE RECOMMENDATIONS' OF LAST WEEK:

Last week on the buy side 7 trades were recommended involving positions equivalent to 13 .75 % of the capital (8 .75 % on delivery basis) and profit / loss booking was recommended in 8 trades (which included 1 trade of earlier weeks) involving positions equivalent to 23 .94 % of the capital (10 .00 % on delivery basis).

AVE POSITION PER BOOKED DEAL WORKS OUT TO BE = 02.76% of the capital (our target is 5. 00%).
AVE PROFIT PER BOOKED DEAL WORKS OUT TO BE = 03.73% (our target is 3. 00 %).
BOOKED PROFIT ON THE CAPITAL = 00.82% (our target is 2. 50%).

FRESH ADVISORY RECOMMENDATIONS
For Extreme Short Term Investors/ Intra-Day Traders

BUYING

SELLING

Reco. Date Scrip Reco. Type Buy Around Target Reco. Date Scrip Reco. Type Sell Around Target 11.02.08 Rolta Short Term If Close>295+SL 315+ 11.02.08 J P Associates Short Term On Rally+SL 280-290 11.02.08 Satyam Short Term If Close>417+SL 450+ 11.02.08 Bom Dyeing Short Term On Rally+SL 650 11.02.08 BPCL Short Term If Close>442+SL 465+ 11.02.08 Adlab Films Short Term On Rally+SL 850 11.02.08 Maruti Short Term On Declines+SL 840 11.02.08 Crompton Gr. Short Term On Declines+SL 305

Recommendations for 11.02.2008

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). Rolta (Or Fut) : Buy 1000 Shares (500 at opening + 5x100 at Fall of every Rs2/- ) in ' Investment A/C' . Target 315. Avg SL Rs8/-.
2). BPCL (Or Fut): Buy 1000 Shares (500 at opening if moves/stays above 442+ 5x100 at Fall of every Rs2/- ) in ' Investment A/C' . Target 465. Avg SL Rs8/-.
3). PNB (Or Fut) : Buy 1000 Shares (500 at opening + 5x100 at Fall of every Rs5/- ) in ' Investment A/C' . Target 670. Avg SL Rs12/-.

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