Pre-Fed jitters ruled the markets. The indices remained largely rangebound. Nifty closed at 4,533 up 20 points, while the Sensex shut shop at 14,833 up 24 points.

E Mathew of Mathew Easow Fiscal Services is positive on ITC, HUL and RPL.

“We may be in the process of bottoming out. We are taking all our cues from the Dow. The Chicago Board Options Exchange (CBOE) Volatility Index (VIX) went almost as high as 33, which is a clear indication that the volatility index is peaking out. It also points out that the Dow has already bottomed out, if it is not close to bottoming out. A lot of hope hangs out for the Nifty. If we are able to sustain above 4,530-4,540 in the near future, it may be a process of base-formation. If we plunge below the January lows again, we may be heading towards 4,200 or possibly lower,” said Mathew.

Here’s how E Matthew views the stock on board:

On ITC and HUL:

The charts have certainly shown strength and they didn’t really breakdown in this carnage also.

ITC has been far above the low of Rs 165-168, which it had touched on January 22. The stock has the potential to be a Nifty outperformer. If the Nifty starts moving up from here, we could see ITC go up all the way to Rs 204.

It is a buy on declines opportunity, as far as ITC and HUL are concerned.

On Orchid Pharma:

Most of the pharmaceutical stocks are looking good. Of course, Orchid Chemicals is an exception. Unfortunately, the incident in Orchid is being utilized as an opportunity to paint some of the smaller pharma companies with the same brush, which is not fair.

On Ranbaxy:

Ranbaxy is showing short-term weakness. But if it drifts by Rs 10-15 odd from the current levels, it would also qualify as a buy on declines rather than a sell on rise.

On RPL:

RPL was showing quite a lot of strength till yesterday. In this recent carnage, it went nowhere near the January 22 low. Today, some negative news did come. But in spite of that, the stock has got very strong support at the Rs 140-142 zone. This stock has potential if the Nifty is in the process of consolidating and it starts moving up. If it takes the positive cues globally, we could see Reliance Petro possibly move up to Rs 165 and beyond that all the way up to Rs 172-175.

On JP Associates:

If you compare JP Associates with RPL, is not showing that kind of strength. But having said, the stock has been extremely oversold. If one is looking for something like a trading bet, possibly at lower levels, if it comes down to about Rs 185 zone, keeping a stop loss of around about Rs 180 odd, one could take a short-term punt into this.

On Bajaj Hindusthan and Balrampur Chini:

Bajaj Hindusthan and Balrampur Chini qualifies as a buy on declines. In fact, Balrampur has got very strong support at around Rs 70-74 zone. That incidentally becomes your stop loss also. On a market sell-off, one could possibly accumulate the stock.

One could play for a bounce up all the way to the Rs 86-88 zone. That is the stiff resistance zone. Beyond that, one could look at Rs 95 too. As of now, Balrampur and Bajaj Hindusthan and the entire sugar sector is still not showing the sort of weakness which one is seeing in quite a few of the other sectors.

Disclaimer:

It is safe to assume that my clients and I may have an interest in the stocks/sectors discussed.

Source : MoneyControl

Technical Analyst, E Mathew is of the view that RPL has strong support at Rs 140-142 zone.

Mathew Told CNBC-TV18, "RPL was showing quite a lot of strength till yesterday and in this recent carnage also it went nowhere near that 22 January low. Today of course some negative news came but inspite of that, I think the stock has got very strong support at the Rs 140-142 zone. This stock has the potential now if the Nifty is in the process of consolidating and it starts moving up and if it takes the positive cues globally, then we could see Reliance Petro possibly move up to Rs 165 and beyond that even all the way upto Rs 172-175".

Disclosure: It is safe to assume that analyst & his clients may have an interest in the stocks/sectors discussed.

Source : MoneyControl

The government today said that the Securities and Exchange Board of India, or Sebi has started investigation into charges of alleged insider trading in the shares of Reliance Petroleum, reports CNBC-TV18.

The Minister of State for Finance Pawan Kumar Bansal in a written reply to a query in Rajya Sabha said "Sebi has informed that it has initiated an examination in the matter".

Last year, Reliance Petroleum shares rose 75% between October 22 and November 1 to touch an all-time high of Rs 294.95, after which, the shares fell on the news of the Sebi probe.

In reply, Reliance Industries said group companies have complied with all rules and regulations. “We will cooperate and provide all necessary information to the concerned authorities,” it added.

Source : MoneyControl

Adrian Mowat, JP Morgan: Markets globally are driven by US credit crunch and investors are reluctant to invest new money. I expect weakness in Indian markets to continue as rupee is likely to depreciate. Growth is slowing down in India and the valuations are still high compared to other markets.

E Mathew, Mathew Easow Fiscal Svcs: The market is likely to see a bounce from lower levels. The Nifty is expected to trade around 4520-4530 levels and if it sustains above 4530 then it could cross 4600 levels. I like RPL on decline.

Karun Mutha, IL&FS Investsmart: The market is likely to be volatile ahead of the Fed meet today. The sentiment continues to be negative. A close above 4500 could signal a recovery in the short-term. I am advising our clients not to invest till the markets stabilises.

Source : MoneyControl

ADVICE STAY AWAY FROM MARKET...

SENSEX SUPPORT 14510-14100- AND RESISTENCE AT HIGHER LEVELS PLACED AT 15877- 16067

IF SENSEX BREAK 1509 THN PLEASE EXIT .........NIFTY SUPPORT 4444-4390

DONT CREATE LEVERAGE DO NOT BE LONG UPTO UR THROAT STAY AWAY FROM MARKET OR DO ONLY INTRA DAY WITH 1.5% OR 2.5% STOP LOSS

MAY BE IN COMMING DAYS SENSEX CAN TOUCH 14777-12500-11000

HOPE U ENJOYED WITH MY CALL TODAY SELL DLF/SELL PUNJ LLYOD/SELL NALCO/SELL DLF/ BUY CIPLA AND BHARTI

BUY ONLY IF SENSEX ABOVE 15555STRONG STOCK ON TUESDAY ADVISE KEEP AWAY FROM MARKET OR SAIL ONGC BHEL CIPLACAIRN INDIALT

LONG TERM INVEST:REL/GAIL/TATA MOTOR/ONGC/RPL/INFOSYS/IDEA//IFCI


Source : nsebseadvisor.blogspot.com

Free Intraday Tips for 17th March 08
POWERGRID ( Power Grid Corporation of India Ltd)

Action	Trigger Price	Stop Loss	Target 1	Target 2
BUY ABOVE	95.5	94	97.5	100
S.SELL BELOW	93	95	92	88

JPASSOCIAT ( Jaiprakash Associates Limited)

Action	Trigger Price	Stop Loss	Target 1	Target 2
BUY ABOVE	237	231	242	248
S.SELL BELOW	229	233	225	216

RPL ( Reliance Petroleum Limited)

Action	Trigger Price	Stop Loss	Target 1	Target 2
BUY ABOVE	163	160	166	170
S.SELL BELOW	159	161	157	151

"Don't focus on making money; focus on protecting what you have."

Source : http://hotstockindia.com