Daily Market Outlook : 9th May 2008 (Friday)

We said the market looked weak as it closed below the 200 dma and it went down by more than 200 points. But inspite of the weak market conditions, our stocks Renuka Sugar, Patni Comp, GE Shipping, Welspun Guj, Bharat Forge, Mastek, Everonn and Omnitech reached their targets !!

Today market is likely to be choppy as the inflation figure will be announced by noon. The market is in a poor shape and chances are if the inflation figure is very high, market may not take that very kindly.

Best Policy to trade is to light and keep your positions hedged.

Sensex Resistance 17141-17212-17413. Support 16996-16871-16683.

Nifty Resistance 5112-5143-5163. Support 5042-5018-4991.

Free Indian Stock Tips

1. Recap:BHEL, GMR Infra and Cairn did not reach the entry price. Only stock which reached the entry price was Bombay dyeing which gave a profit of Rs 1600 for every humdred shares purchased.

2. NSE and BSE Update: One can describe the current dip in the market as a result of profit booking. A technical recovery can not be ruled out and one can see the Sensex touching 18200 odd levels. Technically Nifty has given a signal that one should avoid going long. Nifty 5036 and 4950 levels are important levels and their break means that down swing upto 4667 Nifty levels may be seen. So far during the day market breadth has been negative with advances at 396 against declines of 825 on the NSE. Nifty stocks in news were Tata Communications, Idea and Tata Steel while losers included ITC, Satyams and ICICI Bank.

3. Strong Future Stocks

Praj Industries
Bombay Dyeing
Arvind Mill
United phosphorous
BRFL
IFCI
Chennai Petro
Cairn
GE Shiping
ABAN Llyod

4. Weak Future Stocks

Shree Cements
Ultra Cements
Grasim
Indian Cements
ACC
BHEL
SAIL
Siemens
Kesoram
ABB

5. Free Intraday trading tips for Indian stocks: One can note that CAIRN and Bombay dyeing are in upswing and the same is corroborated by strength of futures. Remember to enter only at the recommended level and use profit booking technique. These are the stocks which can give dividend as and when these stocks move above recommended level with volumes.

Buy Cairn>280.1,284.80,290 sl 278
Buy Reliance Capital>1401.1,1424.70,1464.25 sl 1385
Buy Assam Company>27.3,28.30,29.40 sl 26
Buy Bajaj Hindustan>242.1,247,250 sl 238
Buy GMR Infra>155.1,156.80,158.80 sl 152.5
Buy Bombay Dyeing>982.1,1018,1056 sl 975.8

Premium Market

Latest Grey Market Premium Dt. 9-5-2008

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac.)
Gokul Refoils	175 to 195	9 to 11	--
Anus Laboratories	200 to 210	--	--

New Public Issue(IPO)

Public Issues (IPO) Dt.: 9-5-2008

Company Name	Open Date	Close Date	Issue Size	Offer Price	Rating	Recomm.
Gokul Refoils & Solwent Ltd. (Book Building)	8-5-08	13-5-08	7158392 Shares (Rs. 139.5 Cr.)	175 to 195	39 %	High Risk Low Return
Anus Laboratories (Book Building)	12-5-08	15-5-08	3820000 Shares (Rs. 80.22 Cr.)	200 to 210	--	--

Speculative Scrips

Buy fast growing company
BIHAR TUBE (590059)

CMP : 161.50 Stoploss: 137,

Short term target: 175, Long Term Target: 200

Company Name	CMP	Company Name	CMP
Aro Granite	111.00	Futurea Poly	26.45
GE Cap Trans	60.25	MRO TEK	82.20
GTC	238.65	Indsill Electro	83.00
S. Kumar Nation	112.55	Peram. Magnate	22.00
Shalimar Paints	440.00	Panasonic AVC	29.15
Tricon India	166.35	Gwalior Chemicals	75.50
Steelco Strips	37.00	Blue Star	84.00
Freshtrop Fruits	69.45	Sah Petro	18.00
J. K. Syn.	25.00	Gujrat Ambuja Export	54.30
Blue Bird	43.00	New Chem	25.00
Crest Animation	76.00	Manglam Timber	23.40

Tremendous Performance of our Last Recommendations:

(From Intra Day High Rate)

Indsill Electro (+1), Ishita Durgs (+1), Swan Mills (+2), Zenith Expo (+3),

Deccan Gold (+3), KLG Systel (+4), Woo Yang Electro (+1), Blue Star Info (+3)

Funda-Picks

Company Name	Recomm.	CMP
GVK Power	Buy	54.50
Tulip Star	Buy	142.50
Premier Ltd.	Buy	165.35
Indian Glyacol	Buy	340.50
Strides Arcolab	Buy	187.00
MRPL	Buy	97.00
Arvind Mills	Buy	55.70
PTC	Buy	97.60
IFCI	Buy	60.00
Mahindra Forging	Buy	178.00
Everonne	Buy	891.00
Bilpower	Buy	231.00
IOL Chemical	Buy	149.70
ITDC	Buy	343.00
Birlo Corp	Buy	223.70
Moser Baer	Buy	191.00
Indian Bank	Buy	149.25
Voltamp Transformers	Buy	1230.00
UCO Bank	Buy	47.70
Suraj Diamond	Buy	77.60
TIL	Buy	406.00
Tinplate	Buy	41.55

Company Name	BSE Code	CMP	Stoploss	Target
Hariyana Ship	526931	41	35	50 to 60
Tanfac	506854	61	55	70 to 85
Tata Sponge	513010 / NSE	286	278	304 to 340
Cellestial Labs	532871 / NSE	42	38	50 to 60

Terrific Performance of our Last Recommendations:

(From Intra Day High Rate)

Lloyd Electro (+3), Reliance Power (+8), M. M. Forging (+2), Surana Ind. (+4),

Rathi Ispat (+1), Electro Therm (+2), Praj Ind. (+3), Tata Sponge (+3), Tafac (+3)

Share Market Stock-Watch

Company Name	CMP
Bharti Airtel	827.60
Great Offshore	708.00
Indiabulls Real Estate	547.35
Elder Pharma	370.00
Tata Metalics	174.60
Cairn India	279.50
Indian Hotels	116.35
Opto Circuits	349.25
Dolphin Offshore	269.75
English India Clay	1077.35
Apollo Tyre	46.60
Asian Paints	1230.00
Bharat Bijli	2306.00
Kotak Mahindra Bank	782.00
Aban Offshore	3811.00
United Phsophorus	349.25
L & T	2886.20
Mind Tree	473.00
Tata Sponge	287.20
Aurbindo Pharma	348.00

Fantastic Performance of our Last Recommendations:

(From Intra day High Rate)

M & M (5), Abbott India (+4), HPCL (+3), IDBI (+2), Praj Ind. (+2),

Tata Sponge (+12), Bharti Airtel (+14), Divis Labs (+13), PNB (+9),

IDBI (+2), Kiri Dyes (+3), HCL Techno (+4)