report as on 04/03/2010

NIFTY BUY @ 5040/- SL 5000/- TGT 5090/- OR
SELL @ 5110/- SL 5150/- TGT 5050/-

Market wide open interest is seen at Rs. 1,00,824 cr. Nifty futures have
added 21 lakh shares to open interest with discount seen at near 6 points
n Nifty remains in an uptrend above 4880 for 5150-5200 on the higher side.
Call writing at higher levels indicates possible profit booking/ selling at
higher levels.
n TCS is expected to test 785/810 levels in the near term. Rolta remains
positive above 173 with significant upsides expected in the same. Mid-cap
IT stocks are expected to gain momentum in the near term. Core Projects
and NucSoft remain our preferred picks for the near.
n Reliance is expected to test 1060-1080 levels on sustain above 1020. SBIN
remains positive for 2080 on the higher side while ICICI is expected to
consolidate around 905 levels. Tata Motors is expected to witness selling
at higher levels.
n Nifty OI concentration is seen at 5100 call and 4800 put options. Call
writing is seen at 5150-5200 levels; put buying is advised at the above
mentioned levels. Put writing is seen at 4650-4700 levels with some
support seen at 5000.