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weekly Call 25_ Sep 2010

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					                        SAJAG SECURITIES PVT. LTD.
                        MEMBER: NATIONAL STOCK EXCHANGE OF INDIA LTD.
                        MEMBER: BOMBAY STOCK EXCHANGE LTD.
                        DEPOSITORY PARTICIPANT : NATIONAL SECURITIES DEPOSITORY LTD.
                        DEPOSITORY PARTICIPANT : CENTRAL DEPOSITORY SERVICES LTD.

                       33/15 - B, KARVE ROAD, REGENT CHAMBERS, PUNE - 411004, TEL: 91-20-66014737, FAX: 91-20-25302555
                       email : business@sajag.com / investorgrievance@sajag.com
                       NSE TM ID - 07549                     SEBI Regn. No. INB 230754937
                       BSE TM ID - 3105                      SEBI Regn. No. INB 010754936
                       NSDL DP ID : IN303647                 CDSL DP ID : 12062400



VOL 38. 2010                                                                                               Date: September 25, 2010



                                                          MARKET REVIEW

                                       FII buying drives market higher for fourth week
The BSE Sensex rose 450.43 points or 2.30% in the week                  1481.05. The stock rose on reports a foreign broker upgraded
ended Friday, 24 September 2010, to settle at 20,045.18. The            the stock to 'buy' from 'underperform' and also raised its price
S&P CNX Nifty jumped 133.35 points or 2.26% to 6,018.30.                target to Rs 1,720 from Rs 1,369 earlier.

At a mid-term policy review on 16 September 2010, the                   Maruti Suzuki India's domestic sales rose 32.5% to 92,674
Reserve Bank of India (RBI) signaled that it may be nearing a           units in August 2010 over August 2009. But, the company's
pause in its current tightening cycle. The central bank said its        exports fell 18.4% to 12,117 units in August 2010 over August
rate and liquidity actions since October 2009 have been driven          2009. Maruti Suzuki's its total sales in August 2010 were the
by two considerations -- normalisation of the monetary policy           highest ever monthly sales.
stance as the crisis abated and inflation management. The
Reserve Bank of India believes that the tightening that has             Hero Honda Motors (up 6.55%), ITC (up 6.24%), Wipro (up
been carried out over this period has taken the monetary                6.13%), Tata Power Company (up 5.01%) and Tata Steel (up
situation close to normal, it said. Consequently, the role of           4%), were the other major Sensex gainers last week.
normalisation as a motivation for further actions is likely to be
less important, the RBI said.                                           India's largest private sector firm by market capitalisation
                                                                        Reliance Industries (RIL) declined 2.44% to Rs 1001.65. It was
The RBI on 16 September 2010 raised its repo rate, or                   the top Sensex loser. Reports last week indicated RIL is in
benchmark lending rate, by a quarter point to 6%, at a mid-             advanced talks with US-based Chesapeake Energy to buy a
term monetary policy review. The central bank also hiked the            stake in Eagle Ford shale gas project in the US.
reverse repo rate, or the rate at which it borrows funds, by half
a point to 5%. Both these changes will take place with                  Steel maker Jindal Steel & Power slipped 2.28% to Rs 692.7. It
immediate effect.                                                       was the second biggest Sensex loser.

The BSE benchmark Sensex surged to regain the magical                   Infrastructure developer Jaiprakash Associates fell 1.18% to
20,000 points level on Friday, 24 September 2010, as foreign            Rs 121.2. It was the third biggest Sensex loser.
funds continued to pump capital into domestic equities,
bolstered by the government's move to relax certain foreign
investment limits. The BSE Sensex rose 184.17 points or                 Copper maker Sterlite Industries (down 0.52%) and private
0.93% to 20,045.18. Nifty rose 58.75 points or 0.99% to                 sector lender ICICI Bank (down 0.30%), were the other Sensex
6,018.30.                                                               losers.

FMCG company Hindustan Unilever was the top Sensex
gainer last week. The stock rose 11.56% to Rs 314.65 on BSE.

Mortgage lender Housing Development Finance Corporation
(HDFC) was the second biggest gainer in the Sensex. It rose
6.99% to Rs 731.95.

India's top car maker by sales Maruti Suzuki India was the
third biggest gainer in the Sensex. It rose 6.78% to Rs
TOP 5 GAINERS                                                         TOP 5 LOSERS
                     Current Week       Previous Week    Variance                                Current Week     Previous Week    Variance
   Scrip Name           Close               Close        Change              Scrip Name             Close             Close        Change
 PUNJ LLOYD                   132.1              117.8      12.14          FINANC.TEC.                 1,221.00         1,421.25     -14.09
                                                                           GODREJ
 COLGATE PALM                 918.2             822.35      11.66          CONS                          411.45           459.35     -10.43
 HIND UNI LT                 314.65             282.05      11.56          BEML LTD                    1,092.05         1,162.35      -6.05
 MOSER BEAR                   72.65              65.15      11.51          HIND.CONSTN.                    60.2             63.7      -5.49
                                                                           M&M FI-
 GLAXOSMITHKL              2,011.95           1,810.30      11.14          NANSER                        636.75           672.75      -5.35




                                                    NIFTY TECHNICAL OUTLOOK


CLOSE :    6018.30

Comment    As said in previous weekly
           report, Nifty gained sharp
           momentum after crossing 5906
           level and crossed 6000 mark this
           week. Intermediate uptrend which
           has started after crossing 5399
           level is now 8 weeks old and we
           have raised our intermediate
           uptrend level to 5549 last week.
           Last week Nifty achieved all our
           levels, however it could not close
           above 6047 level.
           RSI indicator is now above 70
           marks which indicate that market
           is in strong hands and may
           witness sharp further upmove.
           Above 6047 Nifty may reach
           upto 6185, 6200 level. On the
           other hand, Nifty has strong
           support at 5932 level. Below
           5932 we may see selling upto
           5880-5750.


                                                              STOCK IDEA:

                                      COMPANY            BUY PRICE           STOP LOSS             TARGET PRICE
                                ICICI Bank                          1114                  1080            1190-1240
                                Wipro                               447                   415                534-558
Review of stocks recommended last week.
    Date            Stock            Action      Stop loss        Buy price          Closing      TARGETS                    REVIEW
  28/09/2010           HPCL           BUY              517          531               542            580                           HOLD
  04/09/2010      JSW Energy          BUY              127          134              122.95          150            STOP LOSS TRIGGERED
  04/09/2010        Thermax           BUY              748        770-760             790            860                           HOLD
  18/09/2010            ACC           BUY              960        997-980               1014      1084-1132                        HOLD
  18/09/2010             DLF          BUY              335          352                   370        399                           HOLD



NOTE: -      OUR STOPLOSSES ARE ON WEEKLY CLOSING BASIS

DISCLAIMER : while due care has been taken in compiling the above information, Sajag securities is not responsible for any direct or indirect loss
caused by relying on the same.
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