STOCK RECOMMENDATION 01SEP TO 05SEP 2008

RELIANCE (2136)
It edged lower to 2050 last week and bounced back. Now it could be moving towards 2175 or 2215 in near term. Failure to move past 2175 could pull it down to 2050 and 2000 levels again. Move above 2215 would take it to 2255 levels or higher. But it would still be a bear market rally with limited upside -a reminder to Reliance Fans! Trade accordingly.
The existing short term LONG positions may keep a final Stop Loss at 2050.

INFOSYSTCH (1749)
A narrow consolidation below its crucial resistance at 1750-1760 levels is a bullish sign. On a close above this band it could be the leader of the market in near to medium term.
Buy on a close above 1750 or on declines with a stop loss at 1635. Hold it for targets of 1800 and then 1875 in near term.

SBIN (1404)
Did not breach 1300 levels and moved up strongly on Friday. Now it could be headed towards 1500 and then 1575. Supports would be 1300 and 1250. existing LONG position may hold with a stop loss at 1250.

You must have observed that our stop loss levels are too far below the present levels. Keeping in mind the current overall trend, in the event of any fall, the markets have a good chance of retraction from lower levels (13700 of SENSEX and 4100 of NIFTY). In such a scenario, it is worth buying at lower levels and remain with the trend. Otherwise, wait for our calls (if any) from time to time given on UPDATES.

NIFTY FUTURES
We had given buy call in our Updates last Thursday. Keep holding on to those positions, and wait for our next bus to stop by you! In other words, recommendations if any, would be posted on UPDATES because there are none for the moment from us.

Wishing you a happy trading week!