The stocks of Reliance Ind might be under pressure as the demand for the products is likely to wane as the global economy weakens
Ramalinga Raju is likely to step down as the Chairman of Satyam Computers to save the day for the company and the stock price as well. An announcement is likely in the next week as part of a plan to rebuild the lost reputation
Strategy on Future and Option
~ Short Central Bank Of India Dec Future @ Rs39
~ Long Everonn Systems DEC Future @ Rs256
Tata Power (SELL)
Stock to watch out:
HDIL (CMP Rs147)
The stock has formed a Doji during Wednesday’s session. The opening and closing prices are the near the same level andthe shape has no real body. The above formation signals the indecision period. However, the stock also attempted to
close above its multiple resistance levels around Rs155-160 on Wednesday. It also recorded impressive volumes. Given the current set up, any move above Rs153-155 levels could see stock attempting a breakout for a target of
above Rs170. However, a reversal from Rs155 levels could bring the stock down to the levels of Rs138 and below. We advise traders to watch the opening moves before executing above mentioned trades.
Insider trades:
Goa Carbon: Shrinivas V. Dempo, Chairman (Promoter Group) has purchased 3,959 equity shares of the company on
December 12, 2008.
Apar Industries: Shri C. N. Desai, Promoter Director has purchased 1,000 equity shares of the company on December
12, 200