Market Insight 19 January 2011

Our Recommendations	19 January, 2011
MPHASIS LTP RS.681.05 BUY BETWEEN RS.675-679 STOP LOSS RS.659 TARGET RS.714 FOR 3-5 TRADING SESSIONS.

Fundamental Daily Markets regain on good Q3 performance by TCS, European cues  Indian benchmarks rallied on Tuesday after Monday’s flat close on the back of good third quarter earnings from TCS and strong European cues. Technology, financial and shares of metal companies catapulted the 50-share Nifty above 5700 and the Sensex above 19,000. Healthcare, auto, FMCG, cement and capital goods also supported the markets. The 30-share BSE Sensex closed at 19,092, with gain of 209 points over previous close, while the S&P CNX Nifty gained 69 points at 5724. Technical Analysis • THE SHORT TERM TREND OF NIFTY IS DOWN IN OUR DAILY NEWSLETTER FROM 07TH JAN, 2011. • INDEX OPENED WITH POSITIVE GAP AND MANAGED TO SUSTAIN THOSE GAIN WHILE TRADING SIDEWAYS FOR MOST PART OF THE SESSION. ON INTRADAY CHART, POSITIVE DIVERGENCE IS VISIBLE BETWEEN THE PRICE CHART & RSI OSCILLATOR. • STOCKS WITH THE BULLISH BIAS ABGSHIP, BHUSHANSTEEL, DRREDDY, HEXAWARE, INDUSINDBANK, PFC, POLARIS, RANBAXY, & SUNPHARMA. • STOCKS WITH THE BEARISH BIAS ASIANPAINT, BANKBARODA, BATAINDIA, GSPL & MAX. • ADVANCE/DECLINE NUMBERS (NSE) ADVANCE – 741 DECLINE – 628 • SECTORS PERFORMANCE AMONG SECTORAL PACK, IT AND METAL COUNTERS WERE MAJOR GAINERS IN TODAY’S TRADE WITH NOTICEABLE CONTRIBUTION FROM THE OTHER PIVOTS AS WELL. • GLOBAL MARKET UPDATE (*at 5:00 pm IST) US MARKETS - POSITIVE. EUROPEAN MARKETS - MIXED ASIAN MARKET S - MIXED • NIFTY INTRADAY LEVELS  Sup – 5695-5665     Res – 5765-5810.