TRADING RECOMMENDATIONS Bharat Heavy Electricals Ltd.

Technical Outlook & Trading Strategy:-

The share price of BHEL has broken below its critical support level of Rs 1660. 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 1600 / Rs 1570 in forthcoming trading session.

Short positions are recommended at current levels and on pullbacks to levels of Rs 1670- Rs 1680. We recommend a stop placed above Rs 1702.20

TRADING RECOMMENDATIONS Dr. Reddy's Laboratories Ltd.

Technical Outlook & Trading Strategy:-

The Stock price of DR. REDDY has seen a fall from the high of Rs 1621 on 20th July 2011 to a low of Rs 1387 on 22nd Aug 2011.

Since then the stock has pulled back & closed above Rs 1504 which is a 50% retracement level of previous fall.

On the daily chart the stock has managed to close above its cluster of moving averages. The momentum 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 on dips up to Rs 1500--Rs 1510 levels with a stop loss placed below Rs 1477.8 levels for targets of Rs 1574 – Rs 1600 levels.

TRADING RECOMMENDATIONS State Bank of India Ltd.

Technical Outlook & Trading Strategy:-

STATE BANK has seen a sharp fall from a high of Rs 2529.5 on 25th April 2011 to a low of Rs 1812.9 on 14th Sept 2011.

During the week the stock was trading below its crucial support level but on the closing basis the stock has registered a close above its support level and has formed a Hammer Candlestick Pattern.

Traders should note that a Hammer candlestick formation is a significant bullish reversal candlestick pattern suggesting upside for the stock.

We recommend traders to buy 50% now and again in the range of Rs 1915 – Rs 1930 levels with a stop loss placed below Rs 1884.8 levels for targets of Rs 2010 – Rs 2050 levels.