Market Guidance for 22nd August 2006

Dear All ,

Yesterday as i predicted markets traded in red due to global negative cues , But a strong buying in tech stocks & Metal sectors helped the indices to close in green . Bullish sentiment will prevail in today's opening session . But market may turn down at anytime & it will be volatile . Any cut for Nifty below 3345/3332 with high volumes will take the Nifty to 3260 . Alternatively any cut in 3393 with good volumes will lead the index to 3416 & above .

Hikal has given a positive breakout . So buy above 380 with a target of 395/407.

Government has decided to sell the remaining 10 % stake in Maruti , which means the stock will rise for next couple of days . Buy it with a short term target of 915.

Punj Lloyd has a bagged a huge order , So we can witness a upside in this counter .

Regards.,
Muthukumar.K
kmk_most@rediffmail.com