Dated : 18th August, 2009

Yesterday’s China market correction has unsettled the whole world market. The whole fiasco is due to fudging of the figures by China to show a higher growth rate despite same not being feasible in times of recession. Now ,What to expect ? 4318 & 4267 are major support levels. Break and close below 4267 will take to 4112-4061 level. Today Break below 4351 will take to 4334….101% crucial support for Intraday. Traders. Now if breaks 4334 level too with volumes then slide upto 4284-4267 in hrs not ruled out. 3DEMA : 4465 ,7DEMA :4502 will act as Hurdles.

Stock Idea for the Day SELL RELIANCE BLW 1924 TGT 1907,1894,1878

BUY RELIANCE ABV 1931 TGT 1945,1957,1970

SELL REL INFRA BLW 1088 TGT 1075,1063,1050

BUY REL INFRA ABV 1106 TGT 1122,1135,1150 SELL HDFC NEAR 2235 SL 2243 TGT 2222,2210

BUY HDFC ABV 2242 SL 2234 TGT 2255,2268

SELL BHEL NEAR 2166 SL 2173 TGT 2155,2150

BUY BHEL ABV 2173 SL 2165 TGT 2183,2190 Buy ONGC>1181.1,1189,1198 sl 1175

Buy Balaji Tele>55.5,57.7,59.8 sl 52.9

Buy BPCL>513.1,519,527 sl 506

Buy Cairn>240.1,242.4,247 sl 235

Buy Ranbaxy>298.1,299.8,303.5 sl 293.8

NIFTY Technicals :

Current Spot : 4387.9

Supports : 4341.6 & 4295.4

Resistance : 4467 & 4546.2 Positional Call : Mindtree. STRONG BUY between 452-530. Tgt 660-650 in 3 weeks. Intraday 475-485. Use strict STOP LOSS in each and every trade in this kind of volatile market Thanks & Regard Market Pulse S&P Team