Headlines for the day
Corporate News Headline

Infosys Technologies agreed terms for a recommended cash offer for a leading UK-based SAP consulting company, Axon Group, in a deal value at Rs. 33 bn. (BS)

Reliance Industries is planning to transfer 80% of its participatory interest in the famous D6 block in the KG basin to four unlisted subsidiaries. (ET)

ONGC is planning to spend Rs. 4.5 bn to enhance its exploration and production capabilities. (ET)

Economic and Political Headline

State-run oil firms have proposed Rs. 57 per litre price for diesel they sell to industrial users as against Rs. 34.80 a litre currently, as use of the fuel in sectors like power generation had seen an unprecedented growth. (BS)

FDI inflows are likely to expand by 144% in 2008-09 to USD 40 bn, as against USD 24.57 bn in the last financial year. (BS)

The US Home resales rose 3.1% to a 5 mn annual rate from 4.85 mn during June. (WSJ)

ONLY POSITIONAL TRADERS

CARRY ALL YOUR SHORTS FOR TOMMOROW AND ALSO CARRY NIFTY 4300 PUTS.

AS TOLD YESTERDAY,WE HAVE TO SHORT TILL 4420 LEVELS.

ONLY POSITIONAL TRADERS
SHORT EDUCOMP FOR A TARGET OF 3220,3120.
IF SUZLON TRADES BELOW 206,
SHORT IT FOR A TARGET OF 198,193.OR SHORT IT NEAR 211.
CARRY ALL OTHER SHORTS AND NIFTY PUTS

INTRADAY>>>>NIFTY FUT: If uptrend continues then it will zoom up to 4354.20-4356.20 zone. Corrections up to 4315.25 can be used to buy. SL at 4298.30 level.

INTRDAY BUY >>>>NIFTY FUT: Buy with a Stop Loss of 4298.30 level. Target at 4328.80-4330.80 zone.

POSITIONAL TRADERS

KEEP HOLDING SHORTS FOR NEXT 2-3 DAYS.CHANCES ARE NIFTY WILL HIT 4220,4190 AND MORE ALSO.
AT HIGHER LEVELS NEAR 4350-4390,SHORT MORE OF SAME STOCKS/NIFTY

POSITIONAL TRADERS

YOU ALL CAN STILL SHORT SAIL FOR TARGET OF 144,142.

SHORT BANKINDIA TGT 253,246.

BUY NIFTY 4300 SEPTEMBER PUTS TGT 190,220.

PLEASE DO ALL TRADING IN SEPT SERIES

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Cash Market Intra-day: KSOILS (NSE Cash CMP 72.55) looks good. Buy with a Stop Loss of 71.55 level

Cash Market Intra-day:GTLINFRA (NSE Cash CMP 40.95)looks good.Sentiment not good.Take a risk and Sell with a Stop Loss of 41.95 level.

POSITIONAL TRADERS

SHORT RELIANCE TGT 2150,2130.

SHORT RCOM TGT 395,390.

SHORT ONGC TGT 1002,985.

SHORT ICICI BANK TGT 630,620.

CARRY YESTERDAY SHORTS OF SAIL,RCAP,RINFRA,SAIL,PUTS