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

OUTLOOK FOR TODAY 26TH AUG

NIFTY FUTURES (F & O)

Profit booking may continue up to 4315-4317 zone for time being.

Hurdles at 4347 & 4354 levels. Above these levels, buying may continue up to 4363-4365 zone and thereafter it will touch 4380-4382 zone.

Above 4388-4390 zone

, it can zoom up to 4405-4407 zone and supply expected at around this zone. Stop Loss at 4430-4432 zone.

On Negative Side, rebound expected at around 4290-4292

zone. Stop Loss at 4273-4275 zone.

Short-Term Investors:

Reversal (Positive)

is seen. Avoid Short Selling at lower levels.

Short-Term Upward Target at 4456-4458 zone.

Short-Term Support at 4247-4249 zone.

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JINDAL SAW (NSE Cash):

Avoid Short Selling in this scrip. Bulls may come back at any moment.

Support at 526 level.

Expected to rebound at around this level. If not, then problem for bulls too.

Hurdle at 574 level. Bulls need to clear this level for uptrend.

NATL ALUM FUTURES (NSE):

Avoid Short Selling in this scrip. Bulls may come back at any moment.

Support at 377 level. Expected to rebound at around this level. If not, then problem for bulls too.

Hurdle at 421 level. Bulls need to clear this level for uptrend.

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The Dow Jones Industrial Average closed at 11,386.25. Down by 241.81 points.

The Broader S&P 500 closed at 1,266.84. Down by 25.36 points.

The Nasdaq Composite Index closed at 2,365.59. Down by 49.12 points.

The partially convertible rupee ended at 43.79/80 per dollar, weaker

than Friday's close of 43.425/435.
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Sell METAL INDEX Stocks

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NIFTY FUTURES (F & O)
Profit booking may continue up to 4315-4317 zone for time being.
Hurdles at 4347 & 4354 levels. Above these levels, buying may continue up to 4363-4365 zone and thereafter it will touch 4380-4382 zone.
Above 4388-4390 zone, it can zoom up to 4405-4407 zone and supply expected at around this zone. Stop Loss at 4430-4432 zone.
On Negative Side, rebound expected at around 4290-4292 zone. Stop Loss at 4273-4275 zone.
Short-Term Investors:
Reversal (Positive) is seen. Avoid Short Selling at lower levels.
Short-Term Upward Target at 4456-4458 zone.
Short-Term Support at 4247-4249 zone.
--------
JINDAL SAW (NSE Cash): Avoid Short Selling in this scrip. Bulls may come back at any moment.
Support at 526 level. Expected to rebound at around this level. If not, then problem for bulls too.
Hurdle at 574 level. Bulls need to clear this level for uptrend.
NATL ALUM FUTURES (NSE):Avoid Short Selling in this scrip. Bulls may come back at any moment.
Support at 377 level. Expected to rebound at around this level. If not, then problem for bulls too.
Hurdle at 421 level. Bulls need to clear this level for uptrend.
------------
The Dow Jones Industrial Average closed at 11,386.25. Down by 241.81 points.
The Broader S&P 500 closed at 1,266.84. Down by 25.36 points.
The Nasdaq Composite Index closed at 2,365.59. Down by 49.12 points.
The partially convertible rupee ended at 43.79/80 per dollar, weaker
than Friday's close of 43.425/435.---------------
Sell METAL INDEX Stocks
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