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GMR Infra
GMR Infra consolidated in a range of 235-
252 levels last week.The 14-day RSI
indicates the stock might witness an
upside breakout of the range in the
coming sessions which will attract fresh
buyers. The stock is likely to face immediate
resistance at around 270 levels. If it is able
to sustain above that levels, we might see
it testing higher levels of 298-300 in a medium-term
scenario. The 50-day EMA level is placed at around 225
levels which is unlikely to be pierced in the coming sessions.
The 21-day EMA level is placed at around 240 levels while
the 8-day EMA level is placed at around 243 levels.
Investors are advised to accumulate the stock in the range
of 245-250 levels for a short term target of 298-300. All
long positions in the stock should be protected with a
stop loss placed below 225 levels on a closing basis.

Tata Steel
Tata Steel has been trading firm for the last few trading sessions, and
closed at all time high levels of 932 levels. Futures have seen rollover
of long positions close to 95 percent. Call options of 940, 960 strikes
have seen addition of open interest, indicates expectations of further
upward movement and in put options 920 and 900 strikes added open
interest indicating the expectations of a limited downside in the stock
price. The following strategy is recommended on Tata Steel

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Trading around 6185 — The index is trading around 6185 levels (high of 13 December 2007), a close above the 6185 level will see index exhibit further strength.Intra day index has support around 6126-6100 levels, intra day declines
should find support around these levels. On the upside resistance levels are 6230- 6270. Intra-day strength can be expected on index sustaining above 6185 levels.

Power stocks glittered on dalal street yesterday with majority of the scrips registering thumping gains across the board. The leaders include NTPC, Reliance Energy,Tata Power and midcaps like Indowind Energy and Torrent Power gained considerable with the latter locked at 20% upper circuit limit. Chennai based BGR Energy flared up nearly 88% from the IPO price while another IPO Burnpur Cement ended the day with a 315% gain to the IPO price. Midcaps continued the upside journey though the markets showed hightened volatility which is expected to further increase in the coming days. Time to take positions in the IT pack with the results round the corner.

Bullish & Bottom fishing counters
Powergrid, AartiDrugs, Concor, HPCL, Jpassociat, RPL, KNL, Selan,
Apil, GMRInfra, HeroHonda, Tatapower, HLL, Ashokley, RIL

Great Offshore(Rs.1,020.20) is undervalued compared to peers. Watch for good rise from these levels.

Short Term Trading Calls
Buy Petronet LNG with stop loss of Rs 110 for a target of Rs 146.

Buy Power Grid Corporation with a stop loss of Rs 140 for short-term target of Rs 170

Buy Neyveli Lignite with stop loss of Rs 240 for a target of Rs 325.

LOTS OF OTHER INTRADAY,BTST,INVESTMENT CALLS

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