Buy list

Scrip	LTP			Target
3IINFOTECH	50.15			167
AARTIDRUGS	37.35			222
ABGSHIP	191.85			369
ABHISHEK	23.65			24
ACE	27.65			218
ADHUNIK	47.25			99
AFL	53.80			74
AFTEK	16.00			190
AKRUTI	608.30			1020
ALPA	12.15			57
ALPHAGEO	176.15			952
AMAR	18.95			78
AMBIKCO	74.80			247
AMBUJACEM	56.80			118
AMDIND	11.50			96
AMTEKAUTO	103.10			152
AMTEKINDIA	51.00			273
ANKURDRUGS	112.05			343
APARINDS	105.00			237
AROGRANITE	42.00			208
ASIANTILES	30.35			191
AUTOAXLES	168.40			426
BALAMINES	68.30			318
BALLARPUR	19.80			47
BALMLAWRIE	267.75			593
BALPHARMA	18.70			60
BANKBARODA	304.25			407
BANKRAJAS	42.20			92
BASF	223.50			520
BASML	41.00			105
BCCL	42.90			227
BILPOWER	110.80			234
BINANIIND	41.15			384
BIRLACORPN	95.15			476
BONGAIREFN	44.60			181
BRFL	187.55			218
BRIGADE	63.90			94
BVCL	20.55			77
CADILAHC	259.50			285
CANDC	90.15			180
CENTENKA	71.80			96
CENTURYPLY	39.10			55
CESC	189.90			300
CHEMFALKAL	44.95			86
CHENNPETRO	155.75			1889
CHI	20.45			69
CINEVISTA	4.40			9
CLNINDIA	176.00			312
COMPUTECH	2.90			5
COMSYS	15.85			23
COROMNFERT	123.85			552
COSMOFILMS	70.00			298
CREWBOS	20.15			96
CYBERTECH	9.90			28
DABURPHARM	41.50			71
DCW	8.95			21
DECCANCE	131.90			696
DECOLIGHT	9.75			30
DEEPAKFERT	54.80			203
DENORA	54.00			82
DHANBANK	49.00			60
DHANUS	73.25			590
DICIND	111.90			167
DLF	291.90			435
DSKULKARNI	38.25			120
EASTSILK	13.10			19
ELECON	47.30			51
ELECTHERM	162.10			600
ESABINDIA	326.40			440
EVERESTIND	75.90			212
EXCELINDUS	37.05			195
FAGBEARING	256.85			520
FCSSOFT	30.60			253
FDC	25.30			72
FEDDERLOYD	23.25			72
FIEMIND	44.70			75
FINANTECH	655.35			1480
FINPIPE	36.40			38
FIRSTLEASE	32.00			150
FMGOETZE	36.55			65
GABRIEL	10.20			14
GAIL	243.30			424
GALLANTT	11.80			70
GAMMONIND	100.60			240
GANDHITUBE	47.00			184
GANESHHOUC	65.00			311
GEODESIC	113.20			251
GEOMETRIC	29.15			104
GESHIP	201.00			1000
GHCL	35.20			126
GICHSGFIN	41.15			118
GLODYNE	360.70			582
GMDCLTD	46.40			182
GODFRYPHLP	1055.40			1120
GOKEX	91.25			128
GOLDENTOBC	77.05			201
GPIL	92.10			523
GRANULES	38.75			42
GRINDWELL	80.70			98
GSFC	76.20			355
GSSAMERICA	125.20			621
GUJALKALI	70.55			296
GUJNRECOKE	32.15			125
GWALCHEM	45.10			154
HARRMALAYA	62.65			146
HAVELLS	236.05			342
HBLPOWER	190.00			550
HCC	42.85			48
HILTON	16.70			32
HINDUJAVEN	108.10			296
HITACHIHOM	72.55			276
HITECHGEAR	46.35			128
HITECHPLAS	38.25			79
HOPFL	62.75			221
HOVS	38.05			42
HTMTGLOBAL	150.80			195
HYDRBADIND	101.75			915
ICI	437.40			739
ICSA	197.45			320
IDFC	52.65			66
IFBIND	23.15			214
IFCI	23.55			49
IFGLREFRAC	35.00			122
IGPL	20.50			62
IMPAL	151.05			398
IMPEXFERRO	11.55			112
INDIACEM	92.50			213
INDIANB	123.65			193
INDOCO	191.60			800
INDOTECH	206.75			392
INDUSFILA	104.25			185
INEABS	96.60			149
IVP	18.85			26
J&KBANK	420.05			780
JAGSNPHARM	8.20			10
JAIBALAJI	62.70			316
JAYSREETEA	119.55			410
JBCHEPHARM	29.80			65
JBFIND	60.00			170
JETAIRWAYS	243.85			665
JHS	16.10			36
JINDALPHOT	70.80			541
JINDALPOLY	147.10			723
JINDALSTEL	781.95			1024
JINDALSWHL	292.90			933
JPHYDRO	31.75			44
JYOTISTRUC	54.15			100
KALINDEE	109.55			129
KANORICHEM	17.25			30
KANSAINER	428.60			448
KAVVERITEL	65.35			160
KCP	116.55			454
KEI	20.30			30
KESORAMIND	139.80			1036
KNL	10.30			31
KPIT	27.45			66
KRBL	81.95			461
KSBPUMPS	249.50			344
KSCL	154.25			557
KSERAPRO	18.95			123
LGBROS	10.95			32
LOGIXMICRO	57.85			157
LUMAXTECH	23.60			99
LYKALABS	19.00			28
MADHAV	19.40			44
MADRASCEM	79.50			192
MAGNUM	7.90			22
MAHINDUGIN	29.80			84
MAHSEAMLES	195.50			342
MANAKSIA	37.25			249
MANALU	21.15			44
MANGCHEFER	12.00			17
MANGTIMBER	11.45			21
MANINDS	41.20			55
MARKSANS	7.30			10
MEGASOFT	33.45			120
MEGH	12.45			20
MERCK	278.40			405
MIC	54.10			255
MICROTECH	89.20			666
MIRCELECTR	11.00			24
MMFL	58.00			163
MONNETISPA	164.10			571
MONSANTO	1290.80			3346
MOTOGENFIN	23.75			612
MRPL	42.95			178
MUDRA	22.80			40
MUKANDENGG	13.50			24
MUNJALSHOW	26.15			75
MURLIIND	191.50			828
NAGREEKEXP	16.00			90
NAHARSPING	26.90			29
NATIONALUM	263.90			326
NAVINFLUOR	140.65			751
NAVNETPUBL	46.45			168
NECLIFE	194.05			462
NELCAST	46.55			70
NIITTECH	72.20			166
NIPPOBATRY	310.00			378
NITINFIRE	150.05			266
NOCIL	14.00			28
NORTHGATE	69.80			251
NUMERICPW	340.00			1018
OCL	45.55			268
OILCOUNTUB	42.10			98
OMNITECH	67.80			130
ONGC	776.10			1241
ORBITCORP	77.10			200
ORIENTABRA	18.00			75
ORIENTBANK	166.10			352
ORIENTCERA	18.05			30
PAREKHPLAT	4.15			14
PATNI	159.45			286
PBAINFRA	28.90			99
PEARLPOLY	8.20			12
PENINLAND	24.60			44
PFIZER	499.05			770
PFOCUS	220.10			286
PHILIPCARB	100.20			354
PLETHICO	182.65			532
POLARIS	43.45			109
POLYPLEX	116.00			478
PRAENG	21.95			30
PRAKASH	60.75			231
PRATIBHA	96.25			278
PRECWIRE	53.55			231
PROVOGUE	66.60			119
PSL	158.05			240
PSTL	61.95			142
PUNJABCHEM	171.50			432
RAJRAYON	7.70			28
RAJSREESUG	45.35			152
RAJVIR	50.95			278
RAMANEWS	16.75			29
RAMCOIND	461.45			1360
RANEHOLDIN	64.25			178
RKFORGE	67.25			109
ROHITFERRO	55.90			472
ROMAN	24.50			56
RSSOFTWARE	14.90			36
RUCHISOYA	42.05			86
SAGCEM	151.25			204
SAKSOFT	50.45			99
SAKUMA	8.00			14
SALSTEEL	8.10			11
SANDESH	90.00			372
SANWARIA	35.00			95
SAPL	9.00			16
SATHAISPAT	23.20			188
SATYAMCOMP	265.80			320
SB&TINTL	8.05			25
SCI	115.05			396
SELMCL	71.70			552
SGL	7.35			14
SHIVAMAUTO	40.85			156
SHIVTEX	16.95			59
SHLAKSHMI	34.90			455
SHREECEM	464.95			1273
SHREYAS	30.65			160
SIL	20.40			248
SIMPLEXINF	255.45			300
SOMANYCERA	41.75			103
SONATSOFTW	18.80			33
SOUTHBANK	71.75			170
SRF	88.15			269
SRHHYPOLTD	17.60			232
SRTRANSFIN	234.80			268
STER	274.00			650
STERTOOLS	43.25			194
SUJANAUNI	6.90			15
SUNDRMBRAK	125.30			428
SUPREMEIND	144.25			740
SUPREMEINF	38.80			272
SUPREMETEX	6.50			19
SURANATELE	23.90			30
SURYAJYOTI	13.65			43
SURYAPHARM	56.45			330
SWARAJENG	150.00			164
TAKE	31.10			57
TANLA	81.80			110
TANTIACONS	43.70			56
TATAINVEST	315.40			498
TATASTEEL	247.60			724
TECHM	343.50			793
TELEDATAGL	6.80			20
TIDEWATER	3451.20			3600
TIMESGTY	13.95			37
TIRUMALCHM	114.50			300
TORNTPHARM	130.65			230
TRIGYN	8.35			26
TTKPRESTIG	132.25			179
TUBEINVEST	31.30			99
UCALFUEL	31.25			58
UCOBANK	28.35			66
UNICHEMLAB	164.75			370
UNIPHOS	204.05			230
UNITECH	79.65			100
USHAMART	34.95			100
VARDHACRLC	3.75			12
VARUN	37.25			112
VGUARD	42.85			76
VIDEOIND	132.50			210
VIKASHMET	10.25			45
VIMTALABS	24.65			28
VIPIND	47.70			160
VISASTEEL	21.55			176
VISHALRET	128.45			250
VLSFINANCE	8.00			107
VOLTAMP	416.25			458
VOLTAS	67.50			102
VTL	57.40			528
WEIZMANIND	14.95			373
WOCKPHARMA	141.75			286
WSTCSTPAPR	39.05			65
WYETH	375.80			467
XPROINDIA	17.30			19
ZICOM	45.25			120
ZODJRDMKJ	13.05			37
ZUARIAGRO	178.65			370
ZYLOG	106.00			619

Crude price

Crude can go down to USD $40 in the near term.

Likely scenario.

Security	LTP	Target
ABB	803.70	235.40
BHARTIARTL	776.00	456.40
BHEL	1550.55	314.00
CAIRN	217.90	27.80
CIPLA	229.50	72.00
HCLTECH	212.90	153.50
HDFC	2091.15	642.80
HDFCBANK	1244.60	432.00
HEROHONDA	849.50	546.40
HINDUNILVR	252.50	86.20
ICICIBANK	560.40	260.40
IDEA	77.95	40.00
INFOSYSTCH	1446.90	908.00
ITC	192.35	78.80
LT	2468.70	675.60
M&M	531.60	249.60
NTPC	174.35	83.60
POWERGRID	88.95	29.20
RANBAXY	272.10	68.00
RCOM	346.85	277.60
RELIANCE	1963.20	1132.00
RELINFRA	849.55	424.40
RPOWER	162.05	10.40
SBIN	1434.85	1036.80
SIEMENS	428.20	145.60
SUNPHARMA	1472.50	968.00
SUZLON	175.25	0.40
TATACOMM	470.85	138.00
TATAPOWER	988.95	294.40
TCS	676.20	527.60
WIPRO	344.25	248.40
ZEEL	204.30	120.40

First Indian bank to bust?

Exit ICICIBANK - lock, stock and barrel.

Rupee Dollar Trade.

Rupee (INR) can breach 50 to a dollar (USD) in the near term.

Crude Price

Crude may settle at $80 in the near term.

Market Outlook.

Market to remain bullish for the rest of the year.

Hedge fund scam unearthed.

Is something similar happening in Indian equity market too ?

Loophole allows hedge funds to manipulate stock in secret

The volatility that has infected the Australian stockmarket in recent months may be playing havoc with your investments, but not everybody is unhappy with the situation.

Traders love it. It's how they make money. There is an apocryphal tale that sums it all up in which New Yorkers wake up one morning to read: "There was no trading on the New York Stock Exchange yesterday. Everybody was happy with what they had."

There is a vast global industry looking for any means possible to exploit a price difference here, an arbitrage opportunity there. When it works properly, it is part of an efficiently operating market.

But lately in Australia it appears it hasn't been working properly at all. A clever bunch of traders - some local but most based offshore - have taken advantage of a legal loophole that has resulted in wild gyrations in stock prices.

They are known as hedge funds. And lately they have targeted Australian banks and financial stocks which have been hammered on the stockmarket.

Take the Commonwealth Bank, Australia's biggest bank. Its share price is now 30 per cent below its November peak. Last week, it announced a smallish rise in its provision for bad and doubtful debts which sent the entire financial sector into a share price tailspin and took the broader market with it.

This week, it was ANZ's turn. With a couple of Australian companies such as Centro Properties, Allco Finance and MFS in financial difficulty, ANZ raised its provisions for bad and doubtful debts. Again, all the banks were slammed in the biggest single-day fall in 19 years.

Most of the problems on global financial markets relate to trouble in the US housing market. It was American banks that fed the beast that has now turned so viciously upon them. US banks like Citigroup - the world's biggest - along with financial giants such as Morgan Stanley have written off tens of billions of dollars in bad debts. And there is more than likely worse to come. They have gone cap in hand for emergency funding to Asian and Middle Eastern governments and investors who have gladly bailed out Wall Street's fallen financial giants in return for a slice of the action.

So it may come as a shock to learn it is Australia's financial institutions that have incurred the wrath of global investors.

Australia's banks - which are enjoying rude health and project a relatively rosy outlook - have been savaged far more than Wall Street's errant financiers even though they have yet to write off a single extra cent in bad debt since the credit crisis hit last year. At the moment, they are simply making prudent and relatively tiny provisions in case anything does go wrong.

Compare the relative performances. The ASX financial index has been slashed by 30.3 per cent since November 1. But on Wall Street, the cause of the problems, the Dow Jones banking index has fallen just 21 per cent.

How could that possibly be? The answer is that the traders have found a chink in Australia's regulatory armour.

The hedge funds have found a way to manipulate the market through a process known as short selling. This is where traders sell stocks if they think the share price will fall in the future. Then they buy them back at a lower price later on. It is perfectly legal and even encouraged as it can add liquidity to markets.

In recent years, however, the practice has become more sophisticated and incredibly complex.

Ordinarily, all trades have to be registered and must be disclosed to the stock exchange by nine the morning after the transaction. It is crucial information that ensures the efficiency of any market and ensures transparency.

But the hedge funds have found a legal loophole here that has allowed them to keep their trades secret. They get around the rule by "borrowing" shares. Where do they get them from? The chances are, if you have put money into a share investment fund or a superannuation fund, those shares are held by what is known as a custodian.

The custodian looks after the stock and does all the paperwork, allowing stockbrokers and super funds to get on with their business. The custodian charges a fee. But often a custodian will offer funds or brokers a discount if it can be allowed to "lend" the shares to other market players - such as hedge funds. And of course the custodian gets a fee for that too.

The hedge funds use these borrowed shares to sell into the market and force down the price. And they have obtained legal advice that, because they have borrowed the shares, they don't have to report the trades as "short selling". So the true scale of the selling has been hidden from authorities.

In recent months, the traders have stepped up the pressure. On top of the selling, they add in a nasty rumour to drive the price even lower. Given the sudden collapse in Centro Properties and Allco, these have been surprisingly effective.

For most of the past few weeks Babcock & Brown has been the subject of rumours about the personal financial health of its key executives. Its chief executive, Phil Green, was damning in his condemnation of the lack of disclosure that has allowed the share price of his company to be manipulated.

There is a similar disquiet at the upper echelons of Australia's big banks. And most want the rules clarified and the laws tightened.

http://business.smh.com.au/
loophole-allows-hedge-funds-to-manipulate-stock-in-secret-
20080222-1u1q.html

Market outlook.

Nifty is to rally to 5000.

Bull run.

Next phase of bull run has just begun. With election being a certainty, six months sooner or later, market is not going to react adversely to that. Post election NDA govt. means sensex will cross 30000 in an year.

Market Outlook.

Nifty can rally upto 5000 from here. Sensex - 17000

RECENT HEROES (18.03.2008 - 23.05.2008)

SCRIP	RECO - BUY @	REACHED	% GAIN
ORCHIDCHEM	116.25 ON 23.03.2008	325 ON 16.04.08	179.57
SASKEN	88.05 ON 23.03.2008	200 ON 22.04.08	127.14
DHANUS	146.05 ON 26.03.2008	275 ON 05.05.08	88.29
SMSPHARMA	167.05 ON 29.03.2008	303 ON 20.05.08	81.38
ANKURDRUGS	155.45 ON 26.03.2008	281 ON 22.04.08	80.77
FCSSOFT	58.25 ON 29.03.2008	105 ON 20.05.08	80.26
SURYAPHARM	69.9 ON 25.03.2008	125 ON 02.05.08	78.83
ASIANTILES	41.55 ON 26.03.2008	73 ON 29.04.08	75.69
GRAPHITE	42.9 ON 25.03.2008	75 ON 21.05.08	74.83
ARCHIES	73.7 ON 25.03.2008	127 ON 02.05.08	72.32
MICROTECH	192.4 ON 23.03.2008	330 ON 30.04.08	71.52
ZYLOG	178.15 ON 23.03.2008	300 ON 17.04.08	68.40
WANBURY	78.15 ON 25.03.2008	130 ON 21.04.08	66.35
MCLEODRUSS	65.2 ON 29.03.2008	106 ON 16.05.08	62.58
DHANBANK	59.5 ON 25.03.2008	96 ON 05.05.08	61.34
WELSPUNIND	40.75 ON 25.03.2008	65 ON 15.05.08	59.51
BASF	165.2 ON 25.03.2008	260 ON 20.05.08	57.38
MASTEK	264.1 ON 25.03.2008	410 ON 16.05.08	55.24
NBVENTURES	196.9 ON 25.03.2008	305 ON 20.05.08	54.90
LICHSGFIN	236.65 ON 23.03.2008	365 ON 02.05.08	54.24
PHILIPCARB	133.1 ON 25.03.2008	205 ON 30.04.08	54.02
MANAKSIA	61.85 ON 29.03.2008	95 ON 15.05.08	53.60
OMNITECH	134.6 ON 29.03.2008	205 ON 20.05.08	52.30
3IINFOTECH	89.8 ON 23.03.2008	135 ON 29.04.08	50.33
SPSL	143.65 ON 25.03.2008	215 ON 22.04.08	49.67
BANKINDIA	244.75 ON 25.03.2008	365 ON 05.05.08	49.13
FEDDERLOYD	47.2 ON 23.03.2008	70 ON 07.05.08	48.31
GPIL	151.75 ON 25.03.2008	225 ON 22.04.08	48.27
ZUARIAGRO	204.95 ON 23.03.2008	300 ON 25.04.08	46.38
AUTOIND	188.95 ON 29.03.2008	275 ON 07.05.08	45.54
ASHAPURMIN	176.4 ON 26.03.2008	255 ON 29.04.08	44.56
NELCAST	83.75 ON 23.03.2008	120 ON 21.04.08	43.28
NIITTECH	106.4 ON 29.03.2008	152 ON 02.05.08	42.86
CHENNPETRO	273.05 ON 29.03.2008	390 ON 06.05.08	42.83
GARDENSILK	50.55 ON 26.03.2008	72 ON 28.04.08	42.43
HITACHIHOM	115.95 ON 29.03.2008	165 ON 16.05.08	42.30
CORPBANK	246 ON 25.03.2008	350 ON 02.05.08	42.28
SUPREMEINF	77.4 ON 25.03.2008	110 ON 08.05.08	42.12
GESHIP	362.7 ON 29.03.2008	515 ON 16.05.08	41.99
OILCOUNTUB	56.6 ON 23.03.2008	80 ON 16.04.08	41.34
TIIL	51.7 ON 29.03.2008	73 ON 03.04.08	41.20
RAJESHEXPO	74.4 ON 23.03.2008	105 ON 15.05.08	41.13
HOPFL	120.75 ON 25.03.2008	170 ON 23.04.08	40.79
TATASTEEL	658.9 ON 18.03.2008	925 ON 21.05.08	40.39
HINDZINC	539.6 ON 23.03.2008	755 ON 21.05.08	39.92
BINANICEM	63 ON 26.03.2008	88 ON 22.04.08	39.68
ZENSARTECH	114.65 ON 29.03.2008	160 ON 29.04.08	39.56
KALECONSUL	44.55 ON 29.03.2008	62 ON 02.05.08	39.17
TODAYS	58.3 ON 29.03.2008	81 ON 12.05.08	38.94
MEGASOFT	72.15 ON 23.03.2008	100 ON 21.04.08	38.60
ORIENTBANK	162.45 ON 25.03.2008	225 ON 05.05.08	38.50
VAKRANSOFT	198.8 ON 29.03.2008	275 ON 20.05.08	38.33
KOLTEPATIL	96.15 ON 29.03.2008	133 ON 05.05.08	38.33
FINANTECH	1374.35 ON 26.03.2008	1900 ON 05.05.08	38.25
SRF	102.8 ON 29.03.2008	141 ON 24.04.08	37.16
RAJTV	105.75 ON 25.03.2008	145 ON 29.04.08	37.12
BONGAIREFN	47.45 ON 23.03.2008	65 ON 05.05.08	36.99
RML	57.9 ON 29.03.2008	79 ON 15.05.08	36.44
CREWBOS	52.95 ON 25.03.2008	72 ON 21.04.08	35.98
IFCI	46.45 ON 29.03.2008	63 ON 29.04.08	35.63
JMFINANCIL	1235.6 ON 23.03.2008	1675 ON 15.05.08	35.56
HEXAWARE	57.65 ON 26.03.2008	78 ON 23.04.08	35.30
HTMTGLOBAL	322 ON 29.03.2008	435 ON 07.05.08	35.09
KEI	55.55 ON 23.03.2008	75 ON 05.05.08	35.01
HELIOSMATH	57.85 ON 29.03.2008	78 ON 30.04.08	34.83
FIEMIND	57.9 ON 29.03.2008	78 ON 02.04.08	34.72
TORNTPHARM	129.95 ON 23.03.2008	175 ON 05.05.08	34.67
SHLAKSHMI	96.75 ON 29.03.2008	130 ON 23.04.08	34.37
RALLIS	342.75 ON 29.03.2008	460 ON 21.04.08	34.21
VTL	98.4 ON 25.03.2008	132 ON 14.05.08	34.15
GSFC	158.05 ON 23.03.2008	212 ON 21.04.08	34.13
MANGLMCEM	113.1 ON 23.03.2008	150 ON 26.03.08	32.63
ANSALINFRA	140.45 ON 25.03.2008	186 ON 02.05.08	32.43
VIVIMEDLAB	81.7 ON 23.03.2008	108 ON 05.05.08	32.19
GUJFLUORO	182.45 ON 25.03.2008	241 ON 21.04.08	32.09
DABURPHARM	56.9 ON 25.03.2008	75 ON 29.04.08	31.81
EASTSILK	160 ON 26.03.2008	210 ON 22.04.08	31.25
UNIONBANK	133.6 ON 23.03.2008	175 ON 07.05.08	30.99
NECLIFE	202.35 ON 29.03.2008	265 ON 20.05.08	30.96
ASIANELEC	168.25 ON 25.03.2008	220 ON 01.04.08	30.76
BSELINFRA	42.15 ON 25.03.2008	55 ON 20.05.08	30.49
SURAJDIAMN	59.85 ON 29.03.2008	78 ON 08.05.08	30.33
LLOYDELENG	96.9 ON 23.03.2008	126 ON 08.05.08	30.03
VARUN	66.95 ON 29.03.2008	87 ON 22.04.08	29.95
DENABANK	50.25 ON 23.03.2008	65 ON 05.05.08	29.35
MAHABANK	44.95 ON 23.03.2008	58 ON 28.04.08	29.03
COSMOFILMS	85.55 ON 29.03.2008	110 ON 29.04.08	28.58
LOKESHMACH	66.2 ON 29.03.2008	85 ON 05.05.08	28.40
ROHLTD	89.6 ON 25.03.2008	115 ON 22.04.08	28.35
ALBK	72.7 ON 25.03.2008	93 ON 05.05.08	27.92
BINANIIND	113.35 ON 25.03.2008	145 ON 29.04.08	27.92
BIOCON	398.75 ON 19.03.2008	510 ON 22.04.08	27.90
JKTYRE	115.75 ON 29.03.2008	148 ON 06.05.08	27.86
GNFC	137.3 ON 29.03.2008	175 ON 16.05.08	27.46
NAHARSPING	51.3 ON 26.03.2008	65 ON 24.04.08	26.71
DAAWAT	52.9 ON 29.03.2008	67 ON 21.04.08	26.65
PNB	459.35 ON 18.03.2008	580 ON 16.05.08	26.27
FEDERALBNK	209.95 ON 23.03.2008	265 ON 05.05.08	26.22
PPAP	75.4 ON 29.03.2008	95 ON 24.04.08	25.99
ISMTLTD	51.6 ON 23.03.2008	65 ON 23.04.08	25.97
KRBL	119.3 ON 29.03.2008	150 ON 24.04.08	25.73
AFTEK	44.7 ON 29.03.2008	56 ON 07.05.08	25.28
IVRPRIME	189.45 ON 29.03.2008	237 ON 30.04.08	25.10
ANGAUTO	91.95 ON 23.03.2008	115 ON 22.04.08	25.07
AVAYAGCL	168 ON 29.03.2008	210 ON 21.04.08	25.00
ZENITHINFO	280.6 ON 26.03.2008	350 ON 16.05.08	24.73
TNPL	89 ON 25.03.2008	110 ON 25.04.08	23.60
MAHSEAMLES	277.4 ON 26.03.2008	342 ON 06.05.08	23.29
BRIGADE	176.1 ON 29.03.2008	217 ON 16.05.08	23.23
IOB	125.8 ON 25.03.2008	155 ON 02.05.08	23.21
VIDEOIND	333.15 ON 29.03.2008	410 ON 20.05.08	23.07
SAVITACHEM	215.45 ON 25.03.2008	265 ON 24.04.08	23.00
TVSSRICHAK	94.6 ON 25.03.2008	116 ON 29.04.08	22.62
LAXMIMACH	1428.75 ON 26.03.2008	1751 ON 05.05.08	22.55
SATHAISPAT	50.7 ON 29.03.2008	62 ON 25.04.08	22.29
INGERRAND	258.65 ON 26.03.2008	315 ON 02.05.08	21.79
DSKULKARNI	153 ON 26.03.2008	185 ON 22.04.08	20.92
AMTEKINDIA	95.25 ON 29.03.2008	115 ON 22.04.08	20.73
DEEPAKFERT	95.25 ON 29.03.2008	115 ON 25.04.08	20.73
CANBK	207.9 ON 23.03.2008	250 ON 05.05.08	20.25
TATATEA	790.5 ON 19.03.2008	950 ON 16.05.08	20.18
SIRPAPER	76.95 ON 23.03.2008	92 ON 21.05.08	19.56
BAJAJHLDNG	644.3 ON 23.03.2008	770 ON 06.05.08	19.51
AUROPHARMA	293.75 ON 29.03.2008	350 ON 08.05.08	19.15
BANKBARODA	273.8 ON 25.03.2008	326 ON 06.05.08	19.07
POLYPLEX	164 ON 29.03.2008	195 ON 24.04.08	18.90
ALOKTEXT	59 ON 29.03.2008	70 ON 28.04.08	18.64
WSTCSTPAPR	64.65 ON 26.03.2008	76 ON 28.04.08	17.56
CLUTCHAUTO	59.7 ON 23.03.2008	70 ON 22.04.08	17.25
FINPIPE	65.7 ON 29.03.2008	77 ON 06.05.08	17.20
SALORAINTL	166.55 ON 25.03.2008	195 ON 01.04.08	17.08
HINDALCO	175.35 ON 29.03.2008	205 ON 15.05.08	16.91
SYNDIBANK	73.05 ON 25.03.2008	85 ON 25.03.08	16.36
INDIACEM	171.9 ON 25.03.2008	200 ON 27.03.08	16.35
GICHSGFIN	58.65 ON 29.03.2008	68 ON 20.05.08	15.94
MURUDCERA	60.6 ON 29.03.2008	70 ON 21.04.08	15.51
NATCOPHARM	87.5 ON 29.03.2008	101 ON 10.04.08	15.43
GANESHHOUC	325.8 ON 29.03.2008	375 ON 15.04.08	15.10
CLASSIC	66.2 ON 29.03.2008	76 ON 16.05.08	14.80
BHUSANSTL	719.8 ON 29.03.2008	825 ON 22.04.08	14.62
PRIMESECU	98.6 ON 26.03.2008	113 ON 24.04.08	14.60
PITTILAM	46.25 ON 29.03.2008	53 ON 21.04.08	14.59
OMAXAUTO	48.9 ON 29.03.2008	56 ON 21.04.08	14.52
BIRLAJUTE	196.75 ON 29.03.2008	225 ON 08.05.08	14.36
ANDHRABANK	74.5 ON 26.03.2008	85 ON 05.05.08	14.09
RJL	71.9 ON 29.03.2008	82 ON 21.04.08	14.05
SOUTHBANK	145.8 ON 29.03.2008	166 ON 22.04.08	13.85
VENUSREM	403.15 ON 29.03.2008	456 ON 02.05.08	13.11
ORIENTPPR	45.1 ON 29.03.2008	51 ON 21.04.08	13.08
IOC	436.4 ON 23.03.2008	490 ON 05.05.08	12.28
PARSVNATH	216.4 ON 29.03.2008	240 ON 05.05.08	10.91
RAMSARUP	155.1 ON 29.03.2008	172 ON 20.05.08	10.90
HEG	272.7 ON 29.03.2008	302 ON 21.04.08	10.74
J&KBANK	676.35 ON 29.03.2008	745 ON 15.05.08	10.15

Crude Price.

Crude price may retreat from here to USD $ 110 in the short term. In any case it is capped at USD $ 150.

Best Buy.

Buy ONGC. Target - 1100.

Buy Reliance. Target - 2700.

Nifty outlook.

Short term target - 5300.

Market outlook.

Market may turn-around today.