CHARTS FOR THE WEEK 09-07-07 TO 13-07-07 ALL SOFWARE STOCKS SEEMS TO HAVE EITHER BOTTOMED OUT OR ARE VERY CLOSE TO A BOTTOM. WIPRO WIPRO LTD-Wkly.10/10/03-06/07/07 N-9 Price E M A(10) E M A(89) E M A(21) 547.48 Volume XB R S I(14,E, 9) MACD(12,26,E, 9) XB 03 04 A J O 05 A J O 06 A J O 07 A J 0 500 400 300 200 SAME IS THE CASE WITH INFOSYSTCH & TCS. TREND F 06/07/07 O 515.00 H 522.00 L 492.70 C 519. V 20115 E 536.65 20000000V 3925544 10000000 80 40 25-0 R 38.53 R 41.50 M -13.96 M -7.54 This stock has in the past 4 years taken support at the 89 weeks EMA. ( Purple line). That line is also close to the lower band of the trend line. A weekly close above 536 will confirm the same. With down side limited to 495 levels we expect this stock to outperform the market in the medium term. Stock is in over sold zone and an opportunity to buy NIFTY NIFTY has given the highest daily & weekly close and are showing no signs of a correction as of now. However as we predicted last week that nifty will move up to levels of 4450 plus are coming true. PLEASE DON T STICK TO THIS POINT. 1 TO 2% HERE & THERE IS ALWAYS POSSIBLE. Now the big question is what next.??? WE expect nifty to correct from these levels. It may come down to levels of 4300 & 4200 in the worst case scenario. 4300 to 4325 range is crucial because it is last weeks low as well as 10 days EMA.
LT The stock may move up in momentum may be to levels of 2700 but every rise should be considered an opportunity to sell. Best buying price is in the range of 1800 to 1900. RELIANCE ENERGY. The stock should be completely exited around 680 to 720 levels. If it does not move up but instead moves down then the best buying price is around 5 to 580. IDBI It remains our top pic. If levels of 115 break it can come down to levels of 105-107. Upside does not seem to have much more steam. Implies we don t expect it to cross levels of 130 range in the short term. TATA POWER Best buy only around 610 ACC EVERY RISE AN OPPORTUNITY TO SELL. Can move to 1100 but don t try not to capitalize on this last leg. Best buy around 900 BAJAJ AUTO Showing signs of bottoming out. Can bounce to 2233 & if sustains to levels of 2230 to 24 BHEL As informed last week has formed a top around 10. short for 10% fall. CIPLA Best buy around 204 DR REDDY A weekly close above 685 essential for it to perform well. GLAXO A move past 1280 necessary. 1240 to 1250 remains a key support. If moves up can move to 1440 GRASIM Though has come out of the bear phase still best buying price is around 20 HDFC Best buying price around 1825 to 1850 only
HINDALCO 150 to 155 remains a very good support for the stock. ICICI BANK Very good close 910 to 940 remains a good price to accumulate the stock. INFOSYSTCH The stock despite giving a good bounce has not reversed. However a move past or a weekly close above levels of 2040 will bring the stock again in the positive territory. ITC 4 th consecutive week for a week on week positive closing. However a weekly close above levels of 167 can take the stock to 190. M&M Very good close. Every fall an opportunity to buy this stock. Best buy around 7. Can move to 875 MARUTI A daily close above 820 will bring this stock back to the forefront and then it can also move up by 10% PNB Best buying price around 485 to 505 RANBAXY Considering 357 as a base one should buy this stock for a target of 4. A daily close above 405 will confirm the same. RCOM Will top out around 620 so short at those levels. RELIANCE Has remained in a range of 1650 to 1800 and should continue to do so. RPL Should top out around 120-122 levels. SBI Best buying price between 1480 to 1520
SUZLON Best buy around 1350 TATA Motors Last weeks low of 666 is a proved bottom. Can move to levels of 766. TCS 1100 is a very good price to buy IOC Only a daily close past 465 will imply resumption of up trend MADRAS CEM Every fall an opportunity to buy the stock. May cool of to levels of 3000 ALFA LAVAL Around 1000 it s a very good level to buy AVENTIS Still a very good stock to buy BAJAJ HIND Wait for a weekly close above 180 and then just grab this stock. Best buying price is in the range of 155 to 1 BALRAMPURCHINI Wait for a weekly close above 80 and then same. Best buying price is below 70 Both the above sugar stocks look good BEML Best buying price is 1150 to 1225 COLGATE VERY good close any fall to levels of 365 to 372 is a very attractive rate to buy. IDFC Retracement to levels of 115 is good for the stock to reenter
INDUSIND BANK INDUS IND BK-Mon.31/05/02-06/07/07 N-1415 TREND Price E M A(10) E M A(87) 83.90 80 F 06/07/07 64.21 70 50 O 55.30 40 H 55.30 30 MACD(12,26,E, 9) Volume R S I(14,E, 9) 02 S 03 M S 04 M S 05 M S 06 M S 07 M PANTALOON Best buying price around 4 PRICOL Just buy CMP 32 RAYMOND & SUNDARAM CLAYTON Looks to have a bottomed out in the longish term charts The stock a major underperformer since August 2005 has just managed to give a terrific break out. THE MACD is positive on monthly charts after a very long time. i.e. Since October 2005. We expect this stock to move to levels of 80 in medium term and levels of 95 in longish term. Hold on to this stock with a trailing stop of 48 UCO BANK Every fall an opportunity to buy this stock. Considering 23 as a base can move to levels of 35 soon 20 10 5-0 50000000V 5007267 25000000 70 50 40 L 50.20 C 51.50 V 2680 E 47.94 M 0.05 M -0.27 R 52.76 R 50.38 FROM NAYAN M. VALA RESEARCH By Dharmesh N. Vala Disclaimer: The information contained herein is confidential and is intended solely for the addressee(s). Any unauthorized access; use, reproduction, disclosure or dissemination is prohibited. This information does not constitute or form part of and should not be construed as, any offer for sale or subscription of or any invitation to offer to buy or subscribe for any securities. The information and opinions on which this communication is based have been complied or arrived at from sources believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, correctness and are subject to change without notice. NAYAN M VALA and/ or its clients may have positions in or options on the securities mentioned in this report or any related investments, may effect transactions or may buy, sell or offer to buy or sell such securities or any related investments. Recipient/s should consider this report as only a single factor in making their investment decision. Neither NAYAN M VALA or any of its affiliates shall assume any legal liability or responsibility for any incorrect, misleading or altered information contained herein