Buy
CANDC sl243 ter 262---272.90
Dr Reddy with sl 664 tr 677--681

Sell Pateleng with sl 443 ter 429--420

BEST BUY

IVRCL (BUY) 389 (Target1) 394 ( Target 2) 399 (Sl) 381

JP HYDRO (BUY) 37 (Target1) 38 ( Target 2) 39 (Sl) 35

POWER FINANCE (BUY) 162 (Target1) 165 ( Target 2) 166 (Sl) 155.6

Market Forecast for 06.07.07

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Listing day of Mega IPO DLF made the markets highly volatile and it corrected heavily. But later, the bulls regained their lost ground and covered almost all losses. I still beleive that the market is in a rangebound stage and selling at lower level seems to be expensive for retail investors.. dont get panic is the mantra for the time being.

Today, market will open flat or positive and remain long above 4350 with SL 4335 for a tgt of 4385-4399. If it breaks and sustain below 4345 keep short with SL 4360 for tgt 4312-4302. Be careful with the positions and dont sell in panic. Traders, trade intraday and mint money... keep smiling

POST MARKET REVIEW -JULY 5TH 2007

FIVE DAY RALLY ENDS

The market settled with nominal losses, after swinging sharply during the day. It staged a strong intra-day rebound. The market opened on a strong note tracking firm global equities, but immediately slipped sharply into the red after striking an all-time high. It later recovering on value buying and on short covering. Auto and capital goods shares were in demand, while IT pivotals were offloaded. Realty major DFL ended at 8.5% premium over IPO price.

The BSE 30-share Sensex settled with a decline of 18.35 points, or 0.12%, to 14,861.89. The barometer index had opened higher at 14,932.53 and surged to strike a record high of 14,963.26 at 09:58 IST as buying momentum intensified. But it had faltered later to touch a low of 14,731.22 by 11:35 IST --- a fall of 149.02 points for the day. The Sensex subsequently made a strong intra-day rebound.

The Sensex oscillated 242 points in the day in volatile trade.

The barometer index had gained 449 points, or 3.11%, in five trading sessions to 14,880.24 on Wednesday, 4 July 2007, from its close of 14,431.06 on 27 June 2007.

The S&P CNX Nifty lost 5.35 points, or 0.12%, today, 5 July 2007, to end at 4,353.95. The Nifty July 2007 futures contracts were quoting at 4,355, a marginal premium of 1.05 points to the spot closing

The BSE Mid-Cap Index settled, or 0.60%, lower to 6,605.85; and the BSE Small-Cap Index lost 0.80% to 7,796.02

Real-estate major DLF settled at Rs 570.05, a premium of 8.57% over the IPO price of Rs 525 per share. The scrip debuted at Rs 582, and touched a high of Rs 714.25 and a low of Rs 505.60 during the day on BSE. The counter saw high volumes of 3.42 crore shares on BSE.

The DLF IPO was subscribed 3.47 times. The IPO received total bids for 60.70 crore shares compared to issue size of 17.50 crore shares. Post-issue promoter holding in the company is 88.24%. The post-issue FII holding was 5.92%.

The market breadth remained weak on BSE: 1,656 shares declined as compared to 997 shares that advanced, while 71 remained unchanged. The breadth turned negative from positive in mid-morning trade.

The total turnover on BSE amounted to Rs 4,583 crore as against Rs 5624 crore on Wednesday, 4 July 2007. The NSE F&O turnover was Rs 41,247.62 crore as compared to Rs 34,125.16 on Wednesday, 4 July 2007.

Among the Sensex pack, 18 declined while the rest advanced.

Private sector banking major ICICI Bank rose 1.80% to Rs 1,003, on 11.77 lakh shares, after striking an all-time high of Rs 1,009.90 in intra-day trade. The stock rose for the second day in a row following reports that the department of industrial policy and promotion has approved ICICI Bank's plan to sell a 24% stake in ICICI Financial Services. ICICI Bank had recently said that its plant to sell stake in ICICI Financial Services to foreign investors was unlikely to get go ahead from the Foreign Investment Promotion Board (FIPB). It was the top gainer from the Sensex pack

Other banking stocks, UTI Bank (up 1.97% to Rs 630), Indian Bank (up 6.88% to Rs 140.50), Union Bank (up 0.40% to Rs 130.15), rose. The BSE Bankex was up 0.4% at 7,427.55.

Engineering and construction major L&T advanced 1.46% to Rs 2,325, on 3.26 lakh shares after striking an all-time high of Rs 2364. L&T will float five new companies to ensure better corporate governance as well as attracting talent. The companies will operate in L&T’s new business areas of power projects, boilers, turbines, water and shipbuilding.

State-run engineering major Bhel rose 1.28% to Rs 1564.95. The BSE Capital Goods Index was up 0.37% at 12,618.94.

Auto stocks extended recent gains on hopes that interest rates may soften. The BSE Auto Index gained 0.92% to 4,881.94, and was the top gainer among the sectoral indices on BSE. Car major Maruti Udyog advanced 1.74% to Rs 805, as buying continued after it recorded a 24% rise in sales in June 2007 on demand for its Swift hatchback and the new SX4 sedan. Maruti sold 59,917 cars, vans and sport-utility vehicles in India and overseas last month compared with 48,425 a year earlier.

Tata Motors rose 1.48% to Rs 708. The country's biggest truck and bus maker recorded 2% decline in sales in June 2007 as demand for commercial vehicles and cars fell. Tata Motors sold 44,317 commercial and passenger vehicles in India and overseas in June 2007.

Hero Honda Motors added 0.42% to Rs 688.50. TVS Motors Company jumped 3.39% to Rs 62.60. TVS Motors’ sales in June 2007 declined 15.2% to 1,07,117 units compared to 1,26,290 units in June 2006.

Index heavyweight Reliance Industries (RIL) recovered from a low of Rs 1,680.50, to settle at Rs 1710, on 5.90 lakh shares. The stock lost 0.33% for the day. The Committee of Secretaries (CoS), which met on 2 July 2007 to decide on the issue of gas pricing from RIL’s D6 fields in the Krishna-Godavari (K-G) basin, has asked the power and fertiliser ministries to present their views before the committee on 5 July 2007. No decision was taken in the meeting even as the petroleum ministry pitched for a market-determined price of gas produced from NELP blocks.

Reliance Energy was the top loser from the Sensex pack. It shed 3.25% to Rs 591.50, on volumes of 9.10 lakh shares. The stock slipped on profit booking.

Ranbaxy (down 2.28% to Rs 359.30), HDFC (down 1.93% to Rs 1941.50) and Hindlaco (down 1.25% to Rs 154.65) were the other losers

IT stocks remained subdued, with the BSE IT Index declining the most among the sectoral indices on BSE, by 1.03% at 4,791.99. Infosys Technologies (down 1.11% to Rs 1911.50), TCS (down 0.73% to Rs 1109.10), Satyam Computers (down 1.52% to Rs 464), and Wipro (down 0.95% to Rs 504.10) edged lower.

The rupee remained stable at 40.45/46 on Thursday, 5 July 2007, against the US currency on the back of suspected intervention by the Reserve Bank. On Wednesday, 4 July 2007, the rupee had closed at fresh nine-year closing peak of 40.45/46 a dollar

NTPC lost 1.51% to Rs 153 after large block deal of 39.19 lakh shares was executed in the counter on BSE at Rs 157.25 per share in opening trade.

Cement shares made a good intra-day rebound though many of them ended in the red. ACC (down 0.03% to Rs 1022.25), Ambuja Cements (down 1.12% to Rs 128.50), UltraTech Cement Company (down 4.37% to Rs 899) and India Cements (down 0.70% to Rs 213.60) edged lower while Grasim rose 0.34% to Rs 2749. Cement shares had surged recently on reports that cement firms have hiked prices by Rs 3-Rs 5 per 50-kilogram bag across India effective from Wednesday, 4 July 2007.

Shares of construction firms and property developers were hammered today on profit booking after the recent surge. Era Construction (down 5.48% to Rs 428), Ansal Infrastructures (down 5.19% to Rs 294.10), Unitech (down 5.64% to Rs 522.10), Madhucon Projects (down 4.66% to Rs 228.90), Parsvnath Developers (down 4.61% to Rs 360.90), and Sobha Developers (down 4.46% to Rs 901.80) all edged lower.

Asian Electronics was locked at the 5% upper limit of Rs 953.40 after posting a 146% rise in net profit Q4 March 2007 to Rs 31.55 crore as against Rs 12.83 crore in Q4 March 2006. Sales surged 162.15% to Rs 150.21 crore in Q4 March 2007 (Rs 57.30 crore). Net profit spurted 164.93% to Rs 66.63 crore in the year ended March 2007 as against Rs 25.15 crore in FY 2006. Sales rose 134.72% to Rs 367.45 crore in FY 2007 (Rs 156.55 crore). The company’s board also approved a 2-for-1 stock-split.