Alok

Buy with stop 64.50 EOD, target 80

Nifty

So, we finally did see the anticipated 5% decline in Nifty. All the voices that have been crying hoarse about one-way ride to higher highs all the time, have suddenly gone quiet in a single day ! So, where do we go from here ? Admittedly, the 5% correction that I had anticipated wasnt expected to come in a single day, though it was expected to be a swift one. Right now, we dont seem to be done as yet. 4350 spot nifty is a crucial level and as long as we do not break that with vols, we should be rangebound between 4350-4550 for now. However, if Nifty breaks below 4350, it would weaken further and we can go as low as 4100 ... and as mentioned earlier, as long as 4100 holds, we should remain in an uptrend.

Visaka Inds

Sell with stops 88.50 EOD, target 75-65

Global Board

Sell at CMP or on rise, stop 857 EOD, target 776

Bharat Forge

Sell at CM or on rise, stop 298 EOD, target 256-222

Austin Engg

Sell with stop 110 EOD, target 95-76

Indbank Merchant

Buy @ CMP or declines, stop 24.75 EOD, target 36

Escorts

Sell on close below 106.50, stop 110 EOD, target 96 or lower

Tech mahindra

Sell at CMP or on rise, stop 1424 EOD, target 1236

Suzlon

Sell at CMP or on rise, stop 1453 EOD, target 1357 or lower