LUPIN Ltd

LUPIN (Rs.672.10/-):

With market unlikely to stabilize going ahead we are likely to see MONEY shifting to "DEFENSIVE SECTORS" likes of FMCG and HEALTH CARE. For short term of 3-4 weeks we are keeping our focus on LUPIN Ltd which is trading in narrow range of Rs.640~670/- from past one week. MACD and RSI on weekly charts are suggestive of stock making a fresh UP MOVE in near term. Traders can take fresh exposure in this stock in range of Rs.660~670/- with Strict Stop Loss of Rs.640/- on closing bases for UPSIDE Target of Rs.735~750/-.


Previous Reco:

1) TISCO Reco at Rs.838/- (07th May,2008) touched high of Rs.925/-(21st May,2008) C.M.P.: Rs.903/- .. Traders are advised to use UP MOVE & BOOK PROFITS. GAIN on higher side: 10% or Rs.87/- TIME TOOK FOR 10% Return: 9 Trading session!!

2) STERLITE TECH (05th May, 2008) BUY ON CLOSE ABOVE Rs.245/- NOT Triggered .. Keep On Radar.

3) SENSEX Outlook : As expected. Fresh Review to be taken this week.

Tata Steel - Technicals

TISCO (Rs.824.95/-): One should keep this stock under their radar as positive breakout from current levels are most likely. Volumes have all-ready started picking up in last one week. Any close above Rs.838/- must be used to take fresh exposure in this stock. In short term we may see this stock moving towards Rs.938/- on higher side with strict stop loss at Rs.790/-.

Previous Chart: Sterlite Tech still not triggered above Rs.245/-.

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Sterlite Technology

Sterlite Technology(Rs.232.90/-):

After a long time we have finally seen this stock giving strong positive move with good volumes, on Friday's trading session. As of now this stock seems to have strong resistance on higher side at Rs.245/- and close above this level will be highly positive for the stock going ahead. We may then see stock moving towards Rs.280~290/- in short term.

Stock Specific Updates

Updates:

Weekly Pick Siemens Ltd.

Balrampur Chinni

Top Picks dated May 03, 2008

Review- RCOM

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Market Outlook Weekly.

Sensex(17600.12) Outlook for the week:

• Sensex closing above its 20 week EMA around 17136 levels. Defintely Positive for the short term.
• 38.2% retracement level now at 17087 on lower side likely to act as an important support in case of any sell-off which can't be ruled out during the week.
• AS PER PIVOTS: Support 1 lies at 17178 and Support 2 lies at 16757 levels. Resistance 1 lies at 17821 and Resistance 2 lies at 18042 levels on higher lies.
• Ealry sell - off signal observed on Bandwidth Bollinger indicator showing negative divergence.

All in all best option will be to book profits in cash stocks on rise during the week.