View - 08 Feb 08

A) TGT NEARLY ACHIEVED IN IFCI AT 72/- SPOT WHICH WAS BOUGHT AT 62/- SPOT . ( TRADE DONEACCORDINGLY IN FUTURES SEGMENT)
B) PARSVNATH TOUCHED A HIGH OF 307/- SPOT WHICH WAS ADVISED FOR BUYING AT 289 SPOT. ( TRADE DONEACCORDINGLY IN FUTURES SEGMENT).
C) JP HYDRO. TOUCHED A HIGH OF 92/- SPOT WHICH WAS ADVISED FOR BUYING AT 85/75 SPOT. ( TRADE DONEACCORDINGLY IN FUTURES SEGMENT).

BROAD RANGE FOR NIFTY FALLS BETWEEN 5071 -- 4941 SPOT ON THE DOWNSIDE AND BETWEEN 5208 -- 5357 SPOTON THE UPSIDE ( ON CLOSING BASIS ).
MAJOR SUPPORT FOR NIFTY FALLS AT 5071 SPOT BELOW WHICH IT MAY FALL AND TEST ITS 200 DMA AT 4975 SPOTOR 4941 SPOT.
ON THE OTHER HAND NIFTY IS LIKELY TO FACE HEAVY RESISTANCE BETWEEN A BROAD RANGE OF5208 -- 5284 -- 5322 -- 5357 SPOT.

CONTINUOUS TRADE ABOVE 5357 SPOT MAY INDICATE RESUMPTION OF THE UPTREND WHEREAS CONTINUOUS TRADE BELOW 4941 SPOT MAY INDICATE FURTHER WEAKNESS IN DAYS AHEAD.TRADE ACCORDINGLY.

MAJOR SUPPORT LEVELS – 5101-5071-5036 / 4975 / 4941-4903
RESISTANCE LEVELS – 5172 / 5208-5251-5284 / 5322-5357 / 5470-5500

INTRA-DAY CALLS
SCRIPT TREND BUY NEAR RESISTANCE SELL NEAR SUPPORT
A) JP ASSO. (341) ---- 312-316;325;335. 350;354;364.
B) RELIANCE (2425) ---- 2371;2400. 2453;2471;2488.
C) RELIANCE CAPITAL (1871) ---- 1808;1825;1850. 1884;1919;1970.
D) UNITECH (362) ---- 339;345;354. 374;387.

UPDATE FOR PENDING CALLS :: ( ONE )
A) IDBI ( REVISED -- SPOT ):: BOUGHT AT 119/- SPOT ; S.LOSS BETWEEN 107 -- 111/- SPOT ; TARGET AT 132/- SPOT.

UNDER CONSIDERATION :: ALSTOM PROJECTS / GMR INFRA. / JP HYDRO / PARSVNATH / VOLTAS.