BEST BUY

LANCO INFRA (BUY) 232 (Target1) 236 ( Target 2) 239 (Sl) 224

BEST SELL

RANBAXY (SELL) 359 (Target1) 355 ( Target 2) 351 (Sl) 367

STERLITE IND (SELL) 622 (Target1) 617 ( Target 2) 612 (Sl) 636

Market Forecast for 11.07.07

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Profit booking and shorting at higher levels is seen yesterday ahead of the results of tech major infosys which will be declared today, in anticipation of a market crash. It is not safe to buy fresh longs now as the market is poised for a good correction at any moment. Also dont short blindly in the breakout scrips.

Today, market will open flat or positive and remain long above 4410 with SL 4395 for a tgt of 4430-4451. If it breaks and sustain below 4408 keep short with SL 4427 for tgt 43982-4365. Be careful with the positions and dont sell in panic. Trade wisely....

PRE-MARKET ANALYSIS - JUL 10 2007

PROFIT TAKING MAY EMERGE IN THE SECOND HALF OF THE TRADING SESSION

The market may consolidate in the second half as some profit booking may emerge at the all-time high level. The BSE 30-share Sensex gained 81.61 points, or 0.55%, to 15,045.73, a lifetime closing high, on Monday 9 July 2007. It struck a record high of 15,085.22 in intra-day trades on that day.

As per provisional data, foreign institutional investors (FIIs) bought shares worth a net Rs 841.64 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 236.85 crore on Monday, 9 July 2007.

The Q1 June 2007 result of Infosys on Wednesday, 11 July 2007, will dictate the near-term trend on the bourses.

Asian indices were trading mixed today, 10 July 2007, with Japan's Nikkei 225 declining on banking stocks such as Mitsubishi UFJ Financial Group, while South Korea's Kospi and Singapore's Straits Times Index touched intra-day record highs. Nikkei slipped 0.22% to 18,221.36, while Taiwan's Taiwan Weighted slipped 0.10% to 9,360.68.

However, Hong Kong's Hang Seng (up 0.26% at 22,876.17), Singapore's Straits Times (up 0.30% or at 3,637.60) and South Korea's Seoul Composite (up 0.13% at 1,885.99) edged higher.

Wall Street edged higher in an erratic session on Monday, 10 July 2007, as investors were reassured by a drop in treasury bond yields. The Dow Jones industrials rose 38.29 points, or 0.28%, to 13,649.97. Broader market indexes also moved higher. The Standard & Poor's 500 index rose 1.41 points, or 0.09%, to 1,531.85, and the Nasdaq Composite index added 3.51 points, or 0.13%, to 2,670.02.

Brent crude oil eased on Tuesday, 10 July 2007 after a seven-day rally lifted prices to their highest in 11 months. London Brent crude fell 31 cents to $75.47 a barrel. US crude inched down 7 cents to $72.12 a barrel.