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BSE SENSEX Going Long

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					28th December 2010                                       www.devangvisaria.com                                       E-mail: research@devangvisaria.com

   Index             Open               High               Low                 Current             Previous Close          Change (Pts.)            % Change
  SENSEX          20,062.60          20,190.13          20,010.33             20,028.93              20,073.66                (44.73)                Unch

                                                                                                               Chart – I

BSE SENSEX (20073.66)
The SENSEX opened on a flat note and moved higher during the early
part of the trading session to register an intraday high of 20190.3 levels.
Thereafter, selling pressure amongst the Metals and Realty stocks saw
the index lose all its early morning gains and slip to an intraday low of
20010 levels. The index finally closed the day at 20028.93 levels with a
marginal loss of 45 points.

The overall market breadth closed equally in favour of the advances and
the declines in the ratio of 1:1

The Metal Index led by Sterlite, SAIL and Tata steel closed with a loss of
1.24%. The Realty index also closed the session with a cut of close to 1%.

The SENSEX couldn’t sustain above its crucial resistance placed around
the 20200 levels. Upsides towards the 20400—20600 levels can be seen
only if the index manages to close above the 20200 levels for the
upcoming sessions. On the downside, the index has good support around
its near term and short term moving averages placed around the 19900
levels.

A break below the 19900 levels will lead to some choppiness in
the markets and see the index decline towards the 19600--19500                                 (All Price Charts as on 27th December 2010)
levels.
                                                                                      ADVANCE / DECLINES                                     BSE
We had recommended buying Suzlon to the subscribers of our                            Advances                                               1461
product Trading calls section at `49 levels. The stock rallied                        Declines                                               1399
smartly during the initial hours of yesterday’s session to                            Unchanged                                              157
register a high of `52.75 levels. We booked part profits at
`51 levels and have already fetched an impressive gain of                             BSE TURNOVER (Rs. In Crores)
`8,000/- per lot to our clients. We continue to maintain our                          Cash                                                   3065
bullish bias on the stock and are holding on to our long                              Future                                                  --
positions for targets of `54 levels.                                                  Total                                                  3065

We recommend subscribing to our product Trading calls                                 KEY SENSEX AVERAGES
section to avail such profitable Trading strategies.
                                                                                      Daily
                                                                                      Short Term Avg                                      19955
                                                                                      Near Term Avg 1                                     19885
Today’s supports for the SENSEX are placed at the 19900 and 19750                     Near Term Avg 2                                     19890
levels whereas resistances are placed at the 20200 and 20300 levels
                                                                                      200 DMA                                             18510




SENSEX TOP GAINERS / LOSERS
                                Gainers                                                                          Losers

Scrip                       CMP            Prev. Close           % Chg         Scrip                         CMP              Prev. Close           % Chg

Dish TV                     67.80              65.30              3.8          SAIL                          177.30              185.35              (4.3)

BGR Energy                  720.20             694.65             3.6          Idea Cellular                 67.65               70.20               (3.6)

M & M Fin.                  728.55             712.00             2.5          Reliance Comm.                136.85              141.90              (3.5)

Ambuja Cem.                 143.95             140.50             2.4          JSW Energy                    94.95               98.35               (3.4)

Mphasis                     680.75             665.05             2.3          REC                           282.95              291.90              (3.0)


                                                                                                                                                             -1-
 28th December 2010                                 www.devangvisaria.com                                E-mail: research@devangvisaria.com

   Index          Open               High            Low             Current           Previous Close            Change (Pts.)            % Change
                                                                                                                                            Unch
   NIFTY        6,013.30         6,045.75          5,991.10          5,998.10              6,014.40                 (13.50)
                                                                                                      Chart-II

 NSE NIFTY (5998.10)
 The NIFTY opened on a flat note and moved higher during the
 early part of the trading session to register an intraday high of
 6046 levels. Thereafter, selling pressure amongst the Metals
 and Realty stocks saw the NIFTY lose all its early morning gains
 and slip to an intraday low of 5991.10 levels. The NIFTY finally
 closed the day at 5998.10 levels with a marginal loss of 14
 points.

 The NIFTY couldn’t sustain above its crucial resistance placed
 around the 6050 levels. Upsides towards the 6100 levels can be
 seen only if the NIFTY manages to close above the 6050 levels
 for the upcoming sessions. On the downside, the NIFTY has good
 support around its near term and short term moving averages
 placed around the 5950 levels.

 A break below the 5950 levels will lead to some choppiness in
 the markets and see the NIFTY decline towards the 5900--5850
 levels.

 We had recommended going long on NIFTY Futures at 6025                              (All Price Charts as on 27th December 2010)
 levels to our clients in our product NIFTY Call section. We
                                                                              ADVANCE / DECLINES                                 NSE
 booked full profits at 6061 levels with a gain of 36 points.
                                                                              Advances                                           688
 We had recommended a total of 4 intraday calls on the                        Declines                                           730
 NIFTY out of which 2 calls hit their specified targets,                      Unchanged                                           51
 stoploss was triggered on 1 of the call and 1 call was
 squared off at cost. The net intraday return generated was                   NSE TURNOVER (Rs. In Crores)
                                                                              Cash                                             9330
 almost 16.30%.
                                                                              Future                                          32448
 We recommend subscribing to our product NIFTY calls                          Options                                         74174
 section to avail such profitable Trading strategies on the                   Total                                           115952
 NIFTY.
                                                                              KEY NIFTY AVERAGES
 Today’s supports for the NIFTY are placed at the 5970 and                    Daily
 5950 levels whereas resistances are placed at the 6030 and                   Short Term                                           5975
 6050 levels.                                                                 Near Term Avg 1                                      5960
                                                                              Near Term Avg 2                                      5970
                                                                              200 DMA                                              5555
 NIFTY (5998.10) SU--5950--5970 RE—6030—6050.         Upsides towards the 6100 levels can be seen only if the NIFTY manages to close
 above the 6050 levels for the upcoming sessions. On the downside, the 5950 levels is still the key near term support for the NIFTY.


NIFTY FUTURES TOP GAINERS / LOSERS
                           Gainers                                                                Losers

Scrip                  CMP           Prev. Close     % Chg       Scrip                       CMP             Prev. Close            % Chg
Praj Inds              79.45           72.30           9.8       India Info                  78.70               83.45               (5.6)

Dish TV                67.95           65.35           3.9       Patel Engg.                298.90               315.25              (5.1)
Moser Baer             57.95           55.80           3.8       SAIL                       177.15               184.80              (4.1)

Bombay Dyeing         507.80           492.00          3.2       Rel Media                  218.00               227.05              (3.9)

BGR Energy            718.05           696.10          3.1       IDEA                        67.60               70.20               (3.7)




                                                   TRADING RECOMMENDATIONS
                                                                                                                                                 -2-
  28th December 2010                                     www.devangvisaria.com                                  E-mail: research@devangvisaria.com




Ambuja Cement CMP-- `143.70
We recommend going long in this counter at current levels.
Technical Outlook:-
The Share price of Ambuja cement Pharma was consolidating between the 133—140 levels for the past few trading sessions.
The stock has now given a break out from this consolidation range on a closing basis. The stock has also managed to register a
close above its near term and short term moving average clusters. The RSI indicator on the Daily chart has also given a strong
buy signal.
Suggested Trading Strategy:-
Based on the above technical evidences, we recommend traders to buy into this counter at current levels and balance 50% in
the range of `140--`141 levels for targets of `150 and/or `154 levels. We recommend following a stop loss of `137.40 levels
on all long positions.

Jindal Poly Films Ltd. -- `532.00
We recommend going long in this counter at current levels.

Technical Outlook:-
The stock witnessed a smart up move from the lows `400 levels as on 10th Dec 2010 to register a high of `544 levels as on 22nd
Dec 2010. Thereafter, the stock has been taking support around its key medium term average placed around the `520 levels.
The momentum indicators on daily chart are still in buying mode.
Suggested Trading Strategy:-
We recommend buying 50% in this counter at current levels and again on dips `520--`525 levels for the targets of `555 and/or
`575 levels with a stop loss placed below `516.80 levels.




Disclaimer:


This represents views based purely on Technical studies. The information and views presented in this report are prepared by Devang Visaria. The
information contained herein is based on my analysis of the Charts and up on sources that I consider reliable. I, however, do not vouch for the accuracy
or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.


The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions
based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any
information or analysis mentioned in this report, investors may please note that neither Devang Visaria nor any person connected with him accepts any
liability arising from the use of this information and views mentioned in this document.


Devang Visaria and his affiliates may hold long or short positions in the above-mentioned companies from time to time.


The report is intended for a restricted audience and I am not soliciting any action based on it. Neither the information nor any opinion expressed herein
constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures nor other derivatives related to such
securities.




                                                                                                                                                    -3-

				
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