Union Bank of India Ltd. CMP - Rs 287.45

Technical Outlook & Trading Strategy:-

The share price movement of Union Bank of India as registered a breakdown from its descending triangle pattern.

This is a bearish formation and the measuring implication of the pattern suggests that the price can decline to the levels of Rs 275 / Rs 270 in the short term.

We recommend traders to sell 50% now and again at Rs 291 - Rs 293 with a stop loss placed above Rs 297.10 levels.

Arvind Ltd. CMP—Rs 90.40

Technical Outlook & Trading Strategy:-

The share price of Arvind had been consolidating sideways in the narrow range Rs 84 - Rs 89 levels since the past few sessions.

With the smart gains in today’s session the price now has given a break-out above this consolidation rangewith an increase in trading volumes.

We believe that these breakouts augur well for the stock price and could propel it to levels of Rs 94 – Rs 95 / Rs 98 in near future.

We recommend buy at current levels and again on pullback to the levels of Rs 89.20 – Rs 88.70 with a stop loss placed below Rs 86.80 levels.

Gitanjali Gems Ltd. CMP - Rs 322.05

Technical Outlook & Trading Strategy:-

The share price of Gitanjali Gems Industries appears to have broken out from its rising trendline resistance.

Such a breakout is likely to have positive implications for the stock price. We expect strong advances to occur in the next few sessions and believe that the technical set up suggests that the stock price could test the levels of Rs 334/ Rs 342.

We recommend traders to buy 50% now and again at Rs 315- Rs 317 with a stop loss placed below Rs 310.80 Disclaimer.

Indian Overseas Bank Ltd. CMP—Rs 136.30

Technical Outlook & Trading Strategy:-

The share price of Indian Overseas Bank had been consolidating sideways in the narrow range Rs 138 - Rs 148 levels since the past few sessions.

With today’s movement the price now has given a break-down below this consolidation range. It has also has closed above its short term moving averages.

We believe that this breakdown suggests that the stock price could decline to levels of Rs 131 / Rs 128 in near future.

We recommend sell at current levels and again on pullback to the levels Rs 138- Rs 139 with a stop loss placed above Rs 141.10 levels.

Bharti Airtel Limited CMP - Rs 421.7

Technical Outlook & Trading Strategy:-

On the daily chart the stock has formed a Bearish Harami Candlestick Pattern. Traders should note that a Bearish Harami candlestick formation is a significant bearish reversal candlestick pattern suggesting downside for the stock.

We recommend traders to sell 50% below 421 and again in the range of Rs 423 – Rs 425 levels with a stop loss placed above Rs 433.6 levels for targets of Rs 408 – Rs 400 levels.

Canara Bank CMP—Rs 514.8

Technical Outlook & Trading Strategy:-

The share price movement of Canara Bank from 24 May 2011 till date has formed a symmetrical triangle pattern.

It should be noted that symmetrical triangle patterns signify distribution and suggest price declines once the breakdown is recorded (at Rs 510 for the said pattern).

A breakdown suggest a downside movement with possible price targets of Rs 495- Rs 480 / Rs 470 in a short period of time.

We recommend traders to sell 50% below Rs 510 and again in the range of Rs 512 – Rs 515 levels with a stop loss placed above Rs 525.6 levels for targets of Rs 495 – Rs 480 levels, expected to be achieved in coming few Sessions.

TRADING RECOMMENDATIONS BF Utilities Ltd

BF Utilities Ltd. CMP - Rs 765.10
Technical Outlook & Trading Strategy:-

The share price movement of BF Utilities appears to be taking form of an Inverted Head & Shoulder pattern. An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline. In the case of BF Utilities the neckline is placed at the levels of Rs 773. The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 800 /Rs 820.

We recommend traders to buy above Rs 773 with a stop placed below Rs 751.30 levels.

Sun Pharmaceuticals Industries Ltd.

Sun Pharmaceuticals Industries Ltd. CMP—Rs 525.65
Technical Outlook & Trading Strategy:-

The share price of Sun Pharmaceuticals Industries appears to have broken out from its rising trendline resistance. Such a breakout is likely to have positive implications for the stock price. We expect strong advances to occur in the next few sessions and believe that the technical set up suggests that the stock price could test the levels of Rs 545 / Rs 560.

We recommend traders to buy 50% now and again at Rs 521- Rs 518 with a stop loss placed below Rs 507.80

ICICI Bank Ltd. CMP - Rs 1068.05

Technical Outlook & Trading Strategy:-

The ICICI BANK has seen a sharp fall from a high of Rs 1279 on 5th Nov 2010 to a low of Rs 939.8 on 9th Feb 2011.

Then the stock has retraced more than 50% of the previous fall to a high of Rs 1139 on 15th April 2011.On the weekly chart the stock has formed a Hammer Candlestick Pattern.

We would like to point out that a Hammer candlestick formation is a significant bullish reversal candlestick pattern suggesting more upside for the stock.

The MACD indicator on the daily chart is also in a bullish zone. We recommend traders to buy 50% now and again in the range of Rs 1055 – Rs 1062 levels with a stop loss placed below Rs 1036.4 levels for targets of Rs 1100 – Rs 1125 levels.

Reliance Infrastructure Ltd. CMP—Rs 580.40

Technical Outlook & Trading Strategy:-

The price of Reliance Infra has been trading within broad range of Rs 515.45 to Rs 586.4 levels after it had corrected from a high of Rs 710 levels as on 1st April, 2011.

The key observation to be made is that the price of Reliance Infra has taken shape of an Inverted head and shoulder price pattern on the daily charts.

The Neckline resistance for the said pattern is placed at the Rs 597 levels. Upside targets of Rs 627 / Rs 655 levels can be seen in this counter once the price breaks above the neckline resistance level mentioned above.

Some of the other positive technical factors are that the price of Reliance Infra has also closed above its key moving average and the MACD indicator is also trading in bullish mode.

We recommend traders to buy 50% now and again in the range of Rs 572 – Rs 575 levels with a stop loss placed below Rs 566.4 levels for targets of Rs 596 – Rs 610 levels.

TRADING RECOMMENDATIONS Development Credit Bank Ltd.

Development Credit Bank Ltd. CMP—Rs 58.40
Technical Outlook & Trading Strategy:-

The share price of Development Credit Bank has registered a breakdown from its cluster of moving averages. The momentum indicators remain in negative territory indicating weakness in the stock price. We expect the stock price to decline towards the level of Rs 56- Rs 55 in the upcoming session.

Short positions are recommended at current levels with a stop placed above Rs 60.40 levels.

TRADING RECOMMENDATIONS Bata India Ltd.

Bata India Ltd. CMP - Rs 623.20
Technical Outlook & Trading Strategy:-

The most important observation to be made on the charts of Bata India is the negative divergence displayed by indicators. They signal that the upward movement of the price could have lost force and in all likelihood give some kind of a decline. In the short term we expect the share price to decline towards the target of Rs 605 / Rs 590 levels.

We recommend sell at current levels with a stoploss placed above Rs 638.20.

TRADING RECOMMENDATIONS ITC Ltd.

ITC Ltd. CMP— Rs 205.75
Technical Outlook & Trading Strategy:-

The share price of ITC has registered a breakout from its resistances levels of Rs 205. The overall technical set up remains positive We believe that the share price could enjoy good upside momentum in the short term and test levels of Rs 213/ Rs 216.

We recommend a buy above Rs 206.50 with a stoploss placed below Rs 200.70

TRADING RECOMMENDATIONS HDIL Ltd.

HDIL Ltd. CMP - Rs 156.75
Technical Outlook & Trading Strategy:-

The share price of HDIL has registered a breakdown from its rising trendline support and in the process has closed below its cluster of moving averages. We expect the stock price to decline towards the level of Rs 150.50 / Rs 148 in the
near future.

We recommend a sell at current price and again on pullback to the levels of Rs 158- Rs 159 with stop loss placed above Rs 162.80 for the aforementioned targets.

TRADING RECOMMENDATIONS Syndicate Bank Ltd.

Syndicate Bank Ltd. CMP— RS 122.50
Technical Outlook & Trading Strategy:-

The share price of Syndicate Bank has registered a break-out from its Inverted Head & Shoulders pattern.This is a bullish formation and the measuring implication suggests towards a strong possibility of the share price heading to the targets of RS 127/ RS 129 in the near future.

We recommend a buy at current price with stop loss placed below RS 118.30 for the aforementioned targets.

TRADING RECOMMENDATIONS Aurobindo Pharma Ltd.

Aurobindo Pharma Ltd. CMP - Rs 176.60
Technical Outlook & Trading Strategy:-

The share price of Aurobindo Pharma has registered a breakout from its cluster of moving averages.The momentum indicators remain in the rising trajectory and indicate strength in the current up-move.We expect the stock price to decline towards the level of Rs 183 / Rs 186 in the upcoming session.

We recommend a buy at current price with stop loss placed below Rs 171.20 for the aforementioned targets.

TRADING RECOMMENDATIONS Adani Power Ltd.

Adani Power Ltd. CMP— RS 113.25
Technical Outlook & Trading Strategy:-

The Adani Power has seen a sharp fall from the high of RS 144.6 on 11th Aug 2010 to a low of RS 105.85 on 23th June2011.On the daily chart the stock has managed to close above its cluster of moving averages. The MACD indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.

We recommend traders to buy 50% now and again in the range of RS 110 – RS 111 levels with a stop loss placed below RS 107.8 levels for targets of RS 120 / RS 124 levels.

TRADING RECOMMENDATIONS Infrastructure Development Finance Company Ltd.

Infrastructure Development Finance Company Ltd. CMP - Rs 141.20
Technical Outlook & Trading Strategy:-

The share price of IDFC has registered a break-out from its Inverted Head & Shoulders pattern. The measuring implication suggests towards a strong possibility of the share price heading to the targets of Rs 147 / Rs 150 in the near future. The momentum indicators remain in the rising trajectory and indicate strength in the current up-move.

We recommend a buy at current price and on pullback to the level of Rs 139- Rs 140 with stop loss placed below `
Rs 136.40 for the aforementioned targets.

TRADING RECOMMENDATIONS ICICI Bank Ltd.

ICICI Bank Ltd. CMP—Rs 1054.00
Technical Outlook & Trading Strategy:-

The share price of ICICI Bank appears to be forming an inverted Head & Shoulder pattern (Intraday Chart).This is a bullish formation and the measuring implication of the pattern suggests that the price can advance to levels of Rs 1074
/Rs 1090levels.

TRADING RECOMMENDATIONS Arvind Ltd.

Arvind Ltd. CMP - Rs 85.75
Technical Outlook & Trading Strategy:-

The share price of Arvind has registered a breakout from its declining trendline placed at Rs 83.50 levels with an increase in trading volumes. The overall technical set up remains positive. As a result of this breakout we expect the stock price to advance towards the level of Rs 89 / Rs 91 in the near future.

Long positions are recommended at current levels and again on dips to the levels of Rs 84.80 - Rs 84.30 with a stop placed below Rs 82.80 levels.

TRADING RECOMMENDATIONS Moser-Baer Ltd.

Moser-Baer Ltd. CMP—Rs 38.45
Technical Outlook & Trading Strategy:-

The share price has rebounded strongly from its support level of Rs 37.50 levels.It has shown a reversal bar at this level, suggesting that the bottom is in place.We expect the stock price to continue its upward movement and believe that it could test levels of Rs 39.80 / Rs 41 shortly.

We recommend buy above Rs 38.80 levels with a stoploss placed below Rs 37.80 levels.

TRADING RECOMMENDATIONS Indiabulls Real Estate Ltd.

Indiabulls Real Estate Ltd. CMP - Rs 113.10
Technical Outlook & Trading Strategy:-

The share price of Indiabulls Real Estate has registered a breakdown form its cluster of moving averages.The momentum indicators remain in negative territory indicating weakness in the stock price.We expect the stock price to decline towards the level of Rs 109 / Rs 106 in the upcoming session.

Short positions are recommended at current levels with a stop placed above Rs 116.60.

TRADING RECOMMENDATIONS Bhushan Steel Ltd.

Bhushan Steel Ltd. CMP -RS 431.95
Technical Outlook & Trading Strategy:-

The share price of Bhushan Steel has broken below its critical supports of RS 436 levels. In simple technical outlook,violation of important support should indicate further price declines. We believe that the stock price could decline to the next support levels of RS 414 / RS 405 in forthcoming trading sessions.

Short positions are recommended at current levels with a stop placed above RS 443.50.

TRADING RECOMMENDATIONS Hindustan Zinc Ltd.

Hindustan Zinc Ltd.CMP— Rs 131.10
Technical Outlook & Trading Strategy:-

The price of Hindustan Zinc remained under tremendous selling pressure throughout the previous session of trade.But,the key observation to be made is that the price of Hindustan Zinc appears to be forming a head and shoulder pattern on its daily charts. The Head and shoulder price pattern is an extremely bearish price pattern and has negative implications on the future price movements of a stock. The price of Hindustan Zinc is also trading below its key moving averages and the momentum indicators are firmly placed in sell mode.

We recommend traders to sell 50% now and again in the range of Rs 133 – Rs
134 levels with a stop loss placed above `135.6 levels for targets of Rs 126 – Rs 122 levels, expected to be achieved in coming few Sessions.

TRADING RECOMMENDATIONS Hero Honda Motors Ltd.

Hero Honda Motors Ltd.CMP - Rs 1902.20
Technical Outlook & Trading Strategy:-

The price of Hero Honda has been trading within broad range of Rs 1708 to Rs 1920 levels after it rallied from a low of Rs 1375 levels as on 22th Feb,2011.The key observation to be made is that the price of Hero Honda has taken shape of an Inverted head and shoulder price pattern on the daily charts.The Neckline resistance for the said pattern is placed at the Rs 1925 levels.Upside targets of Rs 2025 / Rs 2100 levels can be seen in this counter once the price breaks above the neckline resistance level mentioned above.Some of the other positive technical factors are that the price of Hero Honda has also closed above its key moving averages cluster and the MACD indicator is also trading in bullish mode.

We recommend traders to buy on a break above Rs 1925 levels and again on dips to Rs 1890—Rs 1910 levels for the near term upside targets of Rs 2000/ Rs 2070.A stop loss of Rs 1856.4 levels should be maintained on all long positions.

TRADING RECOMMENDATIONS Reliance Communications Ltd

Reliance Communications Ltd.CMP — Rs 98.90
Technical Outlook & Trading Strategy:-


The share price of Reliance communication has registered a strong bounce back from it 89 day moving average. The momentum indicators remain in rising trajectory indicating strength in the up move. We expect that the stock price to continue its move up and test the levels of Rs 102 / Rs 105 shortly.
We recommend buying the stock at current price with a stoploss placed below Rs 94.80 levels.

TRADING RECOMMENDATIONS Bhushan Steel Ltd.

Bhushan Steel Ltd. CMP - Rs 455.85
Technical Outlook & Trading Strategy:-

The share price movement of Bhushan Steel appears to be taking form of an Inverted Head & Shoulder pattern. An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline. In the case of Bhushan Steel the neckline is placed at the levels of Rs 461. The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 471 / Rs 485 / Rs 500.
We recommend traders to buy at current price with a stoploss placed below Rs 442.40 levels for the above mentioned targets.

TRADING RECOMMENDATIONS Tata Chemicals Ltd.

Tata Chemicals Ltd. CMP—Rs 385.05

Technical Outlook & Trading Strategy:-

The share price of Tata Chemical appears to have broken out from its declining trendline resistance. Such a breakout is likely to have positive implications for the stock price. We expect strong advances to occur in the next few sessions and believe that the technical set up suggests that the stock price could test the levels of  Rs 399 / Rs 408.
We recommend buying the stock at current price and again on pullback to the levels of Rs 380- Rs 378 with stop loss placed below Rs 371.40 levels.

TRADING RECOMMENDATIONS Sesa GoaLtd

Sesa GoaLtd. CMP - Rs 291.20

Technical Outlook & Trading Strategy:-

The share price movement of Sesa Goa has registered a breakout from an Inverted Head & shoulder formation. This is a bullish formation and measuring implications suggest that the stock price could advance to the levels of Rs 302 / Rs 308 in the near future.

We recommend buying the stock at current price with the stop placed below Rs 282.80 for the above mentioned target.

TRADING RECOMMENDATIONS Havells India Ltd. CMP

Havells India Ltd. CMP—Rs 393.80

Technical Outlook & Trading Strategy:-

The share price of Havells India has registered a strong bounce back from its 200 Day moving average with an
increase in trading volumes .The momentum indicators remain in rising trajectory indicating strength in the up move.

We expect that the stock price to continue its move up and test the levels of Rs 405 / Rs 412 shortly.
We recommend a buy at current price with a stoploss placed below Rs 381.80 for the above mentioned targets.

TRADING RECOMMENDATIONS Pantaloon Retail Ltd

Pantaloon Retail Ltd. CMP - Rs 315.85

Technical Outlook & Trading Strategy:-

The stock price of Pantaloon Retail has seen a sharp rise from the level of Rs 239 as on 18th May 2011 to a high of`331.60 on 4th July 2011. On the Daily chart the stock has formed an Evening Star Candlestick pattern. The Evening Star candlestick pattern is a significant Top reversal pattern consisting of three candlesticks. We believe that the share price could decline to the levels of Rs 302 / Rs 295 in near future.

We recommend traders to sell 50% now and again in the range of Rs 319 - Rs 321 levels with a stop loss placed above Rs 326.60 levels.

TRADING RECOMMENDATIONS Patni Computer Systems

Patni Computer Systems Ltd. CMP—Rs 336.00

Technical Outlook & Trading Strategy:-

The share price of Patni Computer Systems has taken support & seems to be making a Triple bottom at Rs 322 levels .It has shown a reversal bar at this level, suggesting that the bottom is in place. We expect the stock price to continue its upward movement and believe that it could test levels of Rs 348 / Rs 355 shortly.
We recommend a buy at current price and on pullback to the level of Rs 331 --Rs 329 with stop loss placed below Rs 324.70 levels.

TRADING RECOMMENDATIONS Balrampur Chini Mills Ltd.

Balrampur Chini Mills Ltd. CMP - Rs 65.05

Technical Outlook & Trading Strategy:-

The Share price of Balrampur Chini Mills has registered a breakout from its crucial resistance level of Rs 64 and has simultaneously closed above its cluster of moving averages. The momentum indicator has already given a buy signal with a bullish crossover suggesting build up on the upside. We believe that these breakouts suggest strength and indicate a possible price upmove to the levels of Rs 68 / Rs 71 in the near future.
We recommend traders to buy 50% now and again in the range of  Rs64- Rs 63 levels with a stop loss placed below Rs 61.90