Recommendations for Friday, 24th April, 2009

Hello All,

Welcome..Here we had one of the finest day in Dalal Street. Good recovery with a brekout again. Which might take us to the levels of 3500 & more. Reliance contributed a lion share in the recovery. Unless Nifty breaks 3300, weakness is unlikely.

Now lets turn to stocks. But before recommending the stock(s) for tomorrow, lets see the rules again..

Rules to remember always

Rule No. 1

Daily Technical Report for Nifty & Stocks, picked spcially for short term traders & intraday traders. All the stocks given below are NSE Stocks and levels are according to cash market and NOT as per futures market.

Rule No. 2

Intraday range is an average movement epected movment on that purticular day for that spcific stock. After 20 minutes of trade, in a positive market, you can safely take low as a base and calculate the range on upside and exectly opposite on a downday. ( After 20 minutes of trade, take high as a base price and calculate the range on the downside.

Rule No. 3

During the first minute of the market time, if any scrip given here achieves 1st & 2nd target levels OR hits the SL, then avoid trading in that scrip for that purticular day.

Rule No. 4

If the Stock(s) given for appx. 2 / 3 day's trading, achives 4 to 5 % gains within 3 days, you are strongly advised to trade & ride the stock with proper Trailing Stop Losses.So Please keep these four things in mind ALWAYS and trade with strict StopLosses, Happy Trading.And now the recommendation(s) for tomorrow i.e for 24-04-2009

BUY Renuka for the Target of 107 / 110 / 114 with the StopLoss of 100 and the range is 7.20