MARKET OUTLOOK:
Indices have registered new peaks with the sensex gaining 800 points in the current week and the Nifty gaining 230 points. Markets could come in for some profit booking at higher levels and could correct by 100-150 points. World markets too have been rising continuously after the Fed announced its first ever interest rate cut in 3 yrs and they could too face resistance at higher levels. European markets have already moved into the red falling by 0.50% each. Be cautious at higher levels and trade on a stock specific basis. Bias yet remains positive but a correction from these levels could not be ruled out.

Positional Futures:

1. Buy Hindalco @ 156- 162 for a target of 176
2. Buy Zeel @ 308-314 for a target of 342-350
3. Buy Biocon @ 458-466 for target of 496-502
4. Buy Essar Oil @ 51-53 for a target of 60-65

Short term:

1. Buy Shah Alloys @ cmp(64.30) for a target of 71/78
2. Buy Crest Animation @ cmp(113) for a target of 125/131