Daily Market Outlook : 22nd May 2008 (Thursday)

Markets recovered from the lows yesterday, but we are not out of the woods yet. Markets will try and bounce from the lows today and the ride will be very volatile and choppy.

Keep your positions hedged, as the uncertainty keeps on rising.

Reduce your quantity of trade.

Sensex Resistance 17345-17493-17543. Support 17179-17065-16968-16887.

Nifty Resistance 5152-5177-5228. Support 5087-5048-5017-4979.

Free Indian Stock Tips - 22-May-2008

1. Recap Previous day recommended day trading tips at the blog:Sell recommendation for Sesa Goa gave a profit of Rs 3500, Reliance communications gave a profit of rs 580, ITC gave a profit of Rs 440 and GMR Infrastructure did not reach the recommended entry price set up and thus the trade could not be executed. Nonetheless one can use this strategy as and when the stock starts trading near the recommended level.

2. Track Nifty, the stock of Nation: Support for Nifty exists at 5070-5040 and resistance to the up move for Nifty exists at 5255-5400.


3. Strong Future Stocks

JSW Steel
Cairn
Chambal Fertilisers
LITL
Praj Industries
Lupin
National Aluminium
SCI
GE Shipping
Tata Chem

4. Weak Future Stocks

PFC
Voltas
Shree Cements
GAIL
IOC
ONGC
ACC
ABB
Crompton Greaves
Dabur

5. Free Indian shares tips:

Buy Noida toll>51.1,55 sl 49.5
Buy Triveni Engg>129.1,131.6 sl 127.8
Buy Bharat forge>308.1,314 sl 303.8
Buy ICICI bank>916.1,921,932 sl 909
Buy Hind Oil exploration>156.75,160,166 sl 154

6. Futures and Options Strategy: Presently state of market is such that it can go either direction though technical indicators are showing a bias towards down side and thus straddle 5000 Nifty is the best bet. Better undertake options exposure than futures due to limited risk attached to it.

Premium Market

Latest Grey Market Premium Dt. 22-5-2008

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac.)
Gokul Refoils	175 to 195	14 to 15	---
Anus Laboratories	200 to 210	35 to 38	--
Niraj Cement	175 to 190	--
Bafna Pharmaceutical	40 (Fixed Price)	6 to 8	--

IPO Subscribed

Particular	Gokul Refoils	Anus Laboratories
QIB	2.72	2.93
HNI	6.58	26.97
Retail	5.59	9.64
Employee	1.05	1.0001
Average	4.27	8.43

New Public Issue(IPO)

Reliance Infratel & MCX IPO in JUNE-08

SEBI nods in reliance infratel & MCX IPOs

Both IPOs will come in June 08

Public Issues (IPO) Dt.: 22-5-2008

Company Name	Open Date	Close Date	Issue Size	Offer Price	Rating	Recomm.
Niraj Cement Structural Ltd. (Book Building)	26-2-08	30-5-08	32,50,000 Shares (Rs. 61.75 Cr.)	175 to 190	--	--
Bafna Pharmaceuticals (Fixed Price)	27-5-08	30-5-08	64 Lac Shares (Rs. 25.60 Cr.)	Rs. 40/- (Fixed Price)	--	--

Share Market Stock-Watch

Company Name	CMP	Company Name	CMP
Kamanwala Housing	149.00	Mysore Petro	73.00
Shilp Gravures	62.00	Rohit Ferro	154.30
Ranklin Solutions	156.25	Supreem Petro	27.50
Mangalore Chemicals	26.60	Nocil	29.50
HMT	84.00	GTL INFRA	54.00
Guj. Ind. Power	102.00	Somany Ceramics	75.55
City Union Bank	31.85	GTC Ind.	234.90
KSL & Ind.	205.00	Rana Sugar	16.25
Gem Spinners	3.45	VLS Finance	20.70

Extraordinary Performance of our Last Recommendations:

(From Intra Day High Rate)

Bambino Agro (+2), Whirlppl (+3), DCW (+3), Som Distriliers (+2),

Hatsun Agro (+6), Hilton Metal (+5), TVS Motors (+2), Graphite Ind. (+3), Biopec (+4)

Funda-Picks

Company Name	Recomm.	CMP
Gujarat Alkalies	Buy	188.35
First Source	Buy	43.85
Navin Flouroin	Buy	311.25
Essar Oil	Buy	261.20
MRPL	Buy	93.00
IFCI	Buy	64.00
RPL	Buy	192.00
RNRL	Buy	113.00
CCL Products	Buy	190.00
Ahluwalia Contractors	Buy	187.75
Aptech	Buy	262.25
D Link	Buy	87.00
Tata Tele	Buy	36.20
Praj Ind.	Buy	218.00
Kirloskar Brothers	Buy	283.70
Chambal Fertlisers	Buy	82.45
Nagarjuna Fertlisers	Buy	50.00
Techno Craft	Buy	75.75
Alok Ind.	Buy	70.00
India Glycol	Buy	377.00
Albert Devid	Buy	86.00
Balaji Tele	Buy	172.35
Dalmia Cement	Buy	286.85
Havells India	Buy	489.50
Hercules Hoists	Buy	3061.00

Company Name	BSE Code	CMP	Stoploss	Target
Techno Craft (TIIL)	532804 / NSE	76	72	90 to 100

Tremendous performance of our Last Recommendations:

(From Intra Day High Rate)

RCF (+3), Zylog (+2), Tamilnadu Petro (+2), Educomp Solution (+6),

Gabrial Alok (+3), J. K. Tyre (+2), South Indian Bank (+3), Rain Commodities (+2),

Sirpur Paper (+6), Tudor India (+2)