MARKET VIEW FOR 24TH FEBRUARY 2011

TODAY IS THE RAIL BUDGET & SETTLEMENT OF THE FEBRUARY SERIES. NIFTY RANGE FOR THE DAY SHOULD BE 5410-5480. SINCE THERE IS UNION BUDGET ON 28TH MARKET SEEMS TO BE SLIGHTLY NERVOUS ON THAT ACCOUNT AND THE ROLLOVER SO FAR IS VERY LESS HENCE MARKET VOLATILITY SHALL DOMINATE AND THE SETTLEMENT WILL TAKE PLACE. 


HENCE ONE SHOULD BE THE BUYER IN NIFTY IF NIFTY OPENS AROUND 5410-5420 FOR TARGET OF 5460-80 AND SHORT NEAR 5480 FOR THE TARGET OF 5420-10. HOWEVER NOTE VERY CLEARLY THAT IF NIFTY MOVES BELOW 5400 THEN IT WILL TURN WEAK AND BREAKDOWN TO THE LEVELS OF 5200 IS NOT RULED OUT BUT IT SEEMS LESS THAT NIFTY WILL BREAKDOWN BELOW 5400 TOMORROW. IT MAY HAPPEN ANY TIME POST BUDGET , WHICH MAY BRING A GOOD BUYING OPPORTUNITY FOR INVESTORS.


FOLLOWING STOCKS SHOULD BE WATCHED TODAY FOR THE PRICE ACTION:


1. TORRENT POWER(229.15): MAY SEE SOME UPWARD PRICE ACTION TILL 235-240++ IN A DAY OR TWO.


2. RCOM(96.45): MAY SEE SOME UPWARD PRICE ACTION TILL 100-105++ IN A DAY OR TWO. KEEP SL OF 94


3. BEL(1671.75): MAY SEE SOME UPWARD PRICE ACTION TILL 1695-1720++ IN A DAY OR TWO OR TILL BUDGET.


4. PANACEA BIO(184.55): MAY SEE SOME UPWARD PRICE ACTION TILL 195-200++ IN A DAY OR TWO. KEEP SL OF 175


5. ACC(1014.10): MAY SEE SOME UPWARD PRICE ACTION TILL 1030-40++ IN A DAY OR TWO.

Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.

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