(equities)

Visit us at www.sharekhan.com January 28, 2008 6:00am IST

Punter’s Call

Rejuvenation

Nifty chart: 5383

Markets on January 25 : Bulls back on street

Markets opened on a strong positive note and continued

the rally all through the day. The Nifty finally closed near
the day’s high, indicating the tremendous strength of bulls
over bears. This strong comeback of bulls shows that the
markets were in a rejuvenation mood, as the Nifty finally
closed with a gain of 350 points. The market breadth was
once again dominated by the bulls. The Nifty during the
day made a high of 5,398, very close to our short-term
target of 5,400. It took resistance at 50% retracement of
the entire fall from 6,350 to 4,450, which is around 5,400
level. On the downside, The Nifty has support initially at
5,250 and then at 5,000. On the upside, Nifty may face
resistance around 5,600, which is also our short-term
60 minute chart
target.

On the hourly chart, the momentum indicator KST after

touching the signal line towards downside has once again
moved up and is continuing its rise indicating the
dominance of bulls over bears. We have revised our short-
term target to 5,600 with reversal at 4,780, however the
mid-term target of 6,300 with reversal at 4,244 is intact.

Strong recovery was witnessed in the entire sugar pack

as Bajaj Hindustan was up 31% and Balrampur Chini closed
with the gains of 28%. Reality once again was the darling
of the market, as Brigade (+31%), Unitech (+17%), HDIL
(+12%) and Parsvnath gained (+10%). Metals also
contributed heavily to the rally, as Jindal steel rose by
Market Breadth
21%, Hindalco (+15%) and SAIL (+15%) also surged.
Selective non-index stocks also rallied in this steep BSE NSE
recovery as Adlabs Film was up 23% and GMR Advances 1,558 912
Infrastructures closed with the gains of 18%. The entire Declines 1,164 279
Reliance pack also contributed to the rally. Unchanged 36 8
Volume (Rs) 5,144cr 13,382cr

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 Short Term Trend

Target Trend Reversal Support/Resistance

Sensex 19000  Down below 15900 16000 / 18700

Nifty 5600  Down below 4780 4800 / 5600

Medium Term Trend

Target Trend Reversal Support/Resistance

Sensex 21000  Down below 14723 15500 / 19200

Nifty 6300  Down below 4244 4550 / 6000

Icon guide

 Up Down Downswing matures Upswing matures

Trendy Levels

Sensex Nifty
Support Resistance Support Resistance
18800
17070 19300
17440 5700
5340 5847
5425
18693
16951 19700
17580 5616
5300 5993
5500
18182
16638 20062
17700 5514
5250 6078
5570
20DSMA 40DEMA 20DSMA 40DEMA
20390
19657 19941
19346 6096
5879 5958
5776
BSE
BSE Sensex:
Sensex: 18,362
19013 Nifty:
Nifty: 5,383
5705

For Private Circulation only Eagle Eye 2 January 28, 2008 Home Next
 Smart Charts

Date Recommendation Action Stop Loss/ Stop Loss/ Buy/Sell Closing Potential % Targets
Reversal Reversal Price Price P/L at
(Intra-day) DCL (CMP) CMP
25-01-08 Arvind Mills Buy - 46.3 53.3 53.1 0% 65-75
23-01-08 IDFC Buy - 169.0 195.0 209.1 7% 230-270
23-01-08 Ispat Buy - 34.9 43.7 46.4 6% 59-78
23-01-08 Alembic Buy - 54.6 64.0 67.7 6% 85-104
23-01-08 Hind Oil Expl Buy - 79.2 97.0 112.6 16% 124-169
23-01-08 Nahar Inds Buy - 83.2 108.0 113.5 5% 150-211
23-01-08 Punj Llyod Buy - 387.0 447.0 451.0 1% 525-594
22-01-08 Nifty Future Buy - 4849.0 4820.0 5404.0 12% 5000-5500
05-12-07 Videocon Appliance Buy - Stopped out 42.2 32.3 -23% 64-88
14-11-07 RCF Buy - 83.7 79.4 96.0 21% 124-168
02-11-07 Nocil Buy - TPB 36.9 37.4 1% 64-89
15-10-07 Ceat Buy - 184.3 177.5 209.4 18% 214-264
NOTE: Kindly note that all stop losses in Momentum Calls are on an intra-day basis.
TPB: Trailing profit booked

Momentum Calls
For the short term—1 to 5 days
Stock Action Action date Stop loss Price Closing price Target1 Target2
NTPC Buy 25-01-08 219.0 223.7 222.2 230.0 235.0
Reliance Energy Buy 25-01-08 1,998.0 2,034.0 2,030.2 2,100.0 2,150.0
Sterlite Industries Buy 25-01-08 Book profits 773.0 800.0 787.0 800.0
Reliance Industries Buy 25-01-08 2,539.0 2,575.0 2,609.5 2,630.0 2,675.0
India Cement Buy 25-01-08 Book profits 199.0 210.0 203.0 207.0
L&T Buy 25-01-08 Profit Booked 3,714.0 3,830.0 3,770.0 3,830.0
Mahindra Life Buy 25-01-08 709.0 728.0 733.8 745.0 765.0
Petronet Buy 25-01-08 75.9 75.0 77.2 77.0 79.0
Ranbaxy Buy 25-01-08 TPB 370.5 374.4 382.0 390.0
SAIL Buy 25-01-08 Book profits 214.0 221.0 218.0 222.0
India Cement Buy 25-01-08 TPB 192.0 195.9 197.0 202.0
Aban Offshore Buy 25-01-08 3,685.0 3,670.0 3,765.5 3,780.0 3,900.0
OBC Buy 25-01-08 Book profits 260.5 268.0 265.0 270.0
Nifty Future Buy 24-01-08 Book profits 5,000.0 5,340.0 5,200.0 5,400.0
Reliance Energy Buy 24-01-08 Book profits 1,835.0 1,924.0 1,860.0 1,890.0
Power Grid Buy 24-01-08 Book profits 112.5 116.0 115.0 117.0
Dabur Buy 24-01-08 101.0 99.0 101.8 101.5 104.0
NOTE: Kindly note that all stop losses in Momentum Calls are on an intra-day basis.
TPB: Trailing profit booked

For Private Circulation only Eagle Eye 3 January 28, 2008 Home Next
 Arvind Mills–Buy
CMP: Rs53.3
Buy Arvind Mills at the current market price of Rs53.3 with the
stop loss of Rs46.3 for the Targets of Rs65 and Rs75.

For Private Circulation only Eagle Eye 4 January 28, 2008 Home Next
 Day Trader’s HIT List
For January 28, 2008
Scrip Name Support Levels Close Resistance Levels Action
S1 S2 (Rs) R2 R1
NIFTY Futures 5330 5370 5404 5430 5470 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Adlabs Film 1195 1206 1215 1225 1235 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Century Text 952 960 968 975 983 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

DLF 930 938 945 953 960 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

HUL 195 197 199 201 203 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

ICICI Bank 1273 1284 1295 1306 1308 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Infosys 1500 1511 1521 1532 1544 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

J P Associates 380 383 386 389 392 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Maruti 817 824 830 836 842 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Reliance 2580 2595 2610 2625 2640 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Reliance Capital 2100 2114 2123 2140 2158 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Reliance Comm 658 663 668 673 679 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

SAIL 226 228 230 232 234 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Satyam 398 402 406 410 414 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

SBI 2375 2390 2405 2418 2430 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Tata Motors 700 707 712 717 724 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

Tata Steel 702 708 714 720 726 Go long above R2,Go short below S2.
................................................................................................................................................................................................................

*Note: Closing price of Nifty futures is last traded price of Nifty futures on NSE

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