MARKET OUTLOOK

Sensex came within striking distance of 18K but sharp and volatile movements made the task tougher for the Bulls to achieve that milestone. The Bulls have had a merry time with the sensex rising by more than 2500 points in the last 2-3 weeks. Higher Liquidity in terms of FII inflows have been largely responsible for the steep climb up the hill. Going ahead markets could take a breather for a day or two ahead of the earnings season and volatility is expected to be on the higher side. Levels of 5000-5025 act as crucial support while strong resistance could be seen at 5250-5260 mark. Bias is yet positive.

Futures:

Buy Amtek Auto @ declines for a tgt of 380 sl 350
Buy Cipla @declines for a target of 180-183 sl 175

Intraday:

Buy BIOCON @CMP 503 SL 495 TARGET 510-515-520
Buy Satyam Comp @ declines for a tgt of 440 sl 428
Buy IDBI @ declines for a tgt of 135-140 sl 132

Short term:

Buy Amtek India @ 176 for a tgt of 186 & 205
Buy Igate Solutions @ 240 for a tgt of 258& 275

Have a nice Trading day
All the best.