Markets staged a strong bounce back after initial weakness and ended the week with good gains. The market breadth was positive and all mid-cap and sectoral indices were up more than 2% WoW. Technology, Pharma, Oil & Gas and Metals were sectors which were in lime light. Ranbaxy, Tata Motors, HCL Tech, Unitech, DLF and GAIL were the top nifty gainers while M&M, HUL, ACC and Ambuja Cements figured among the top losers.
The global markets are trading weak this morning and the sentiment going into the week is negative. We may see a strong down ward movement and a consolidation with a downward bias going forward. 4600 is a strong resistance and hence only a close above this level could turn things for good. 4400-4420 is a strong short term support zone. A move below this level could take the markets down sharply towards 4000. Trade stock specific with strict stoplosses.

BUY
GAIL @ 334-335 Tgt 360 SL 328
EKC @ 188-190 Tgt 212 SL 180
TATACHEM @ 250-252 Tgt 271, 292 SL 244

SELL
IDEA @ 78-79 Tgt 76, 72.5 SL 81
HINDUNILVR @ 260-262 Tgt 249, 242 SL 266
TATACOMM @ CMP Tgt 478, 460 SL 515
ASHOKLEY @ 37-37.20 Tgt 34.5, 32 SL 38
YESBANK @ 160-161 Tgt 151 SL 164