Report - for Friday 28

* Nifty 50 Index (15 Minute Chart) !
Both Bullish (4950+) and Bearish Targets maintained / Be Scrip Specific

Bar Reversal Up/ Down, Engulfing in Daily Chats (Min Avg Volume >100000/Day)

Scrip	Scrip	Scrip	Scrip
Bar-Up	Bar-Dn	Eng-Bull	Eng-Bear
RELIANCE CAPITAL	TATA STEEL	SUZLON ENERGY	BALLARPUR INDS
SUZLON ENERGY	IDFC	SUN PHARMACEUTIC	STRIDES ARCOLAB
BHARTI AIRTEL	HDFC BANK	IFCI LTD	MANGALAM CEMENT
ONGC CORPN	VSNL	HINDALCO INDS	MID-DAY MULTIMEDIA
JAIPRAKASH ASSOC	INDIA INFOLINE	STERLITE INDS (I)
RELIANCE COMM	HIND PETROLEUM	TATA POWER COMP
RELIANCE NATURAL RES	CENTURION BANK	CIPLA LTD
ESSAR OIL	TATA CHEM	ACC LTD
BHEL	DECCAN AVIATION	DR. REDDY'S LABS
SESA GOA	LIC HOUSING FIN	ROLTA (I)
IFCI LTD	TATA TEA	NEYVELI LIGNITE

What the Charts Foretell
(FOR Short Term Investors)

* NIFTY/ SENSEX !
Bearish Targets (4760-4700) Maintained - Sharp Rally from Support not ruled out
Index Leaders in favour of further decline - But Be Scrip Specific / Bullish Opportunities also Available

* APTECH TRAINING !
Overbought in EST charts-Corrective decline to 210 likely

* STERLITE INDS. !
EST resistance at 732-733/Bullish breakout may target 780-800 in near future

* 3I INFOTECH !
All set to cross 105 in near term-Buy around 94 with SL

* GTL !
Hourly charts in favor of rise to 260-Buy gradually on declines with SL

* IVRCL INFRA !
Bullish breakout in EST charts-Likely to cross 410 in near future

* RASHTRIYA CHEM. !
Highly oversold in EST charts-Technical recovery to 55-56 likely

* RELIANCE POWER !
EST resistance at 330-Bullish breakout with volumes may target 355+ in near term

* NOIDA TOLL BRIDGE !
Short term indicators in favor of rise to 46-47/Buy gradually on declines with SL

* TATA STEEL !
Short term resistance of 670 maintained-Buy on bullish breakout for target of 720+

* INFOSYS !
Mildly bearish in EST charts-Likely to go below 1400 in coming days

* ORBIT CORP. !
Extremely overbought after rise from 320 to 550 in 3 days-Book part profit to re-enter below 450

* RANBAXY !
Bearish in hourly charts-Corrective decline to 422-420 likely

* RPL !
Short term resistance at 158-Bullish breakout with volumes will target 168-170

* SUZLON !
Indicators favor rise to 255+/Buy on declines till 235 with SL

* JP ASSOCIATES !
Bullish pattern in making-Close above 236 will target 260 in few days

* UNITECH !
Strong resistance at 288-290/Bullish breakout may target 330+ in few sessions

* NAGARJUNA FERTILIZERS !
Highly oversold in short term charts-Close above 37.5 may target 44-45

* GUJ NRE COKE !
Highly overbought after sharp rise from 99 to 152 in 3 days-Ripe for decline to 139-140

* HINDALCO !
Heading for 186+/Use decline towards 167-168 for fresh buying with SL


* ITC !
Indicators favor rise to 208-210/Use declines to 196 for fresh buying

* R COMM. !
"Declining Channel" pattern in making-Close above 545 will target 620+ in few days

* CAIRN INDIA !
EST resistance at 218-Bullish crossover to target 230 in near term


* YES BANK !
Highly overbought in short term-Further decline to 176 & 170 likely

Recommendations for 28.03.2008

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). IVRCL (Or Fut) : Buy 1000 Shares (500 at opening + 5x100 at Fall of every Rs2/- ) in ' Investment A/C' . Target 410. Avg SL Rs10/-.
2). J P Associates (Or Fut) : Buy 1500 Shares (700 at opening if moves below 236+ 4x200 at Fall of every Rs2/- ) in ' Investment A/C' . Target 260. Avg SL Rs10/-.
3). Orbit Corp : Sell 600 Shares (300 at opening + 3x100 at Rise every Rs10/- ) in ' Trading A/C' . Target 450. Avg SL Rs15/-.
4). Yes Bank (Or Fut) : Sell 1000 Shares (500 at opening + 5x100 at Rise every Rs1/- ) in ' Trading A/C' . Target 176. Avg SL Rs6/-.

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