"TRADING IDEA FOR TUESDAY (13.07.2010)"

The Nifty hits the 52-week high as it crosses the 5400 levels for the first time in 30 months.

The markets rallied for the third consecutive day on account of the supportive global cues. During the day, the Sensex hit the 18000 levels for the first time since April 2010 while Nifty hits the 5400 levels for the first time in 30 months. However, it could not sustain such high levels and pared its gain as India's Index of Industrial Production (IIP) data for the month of May came in at 11.5% against 17.6% in the previous month, which was below market expectation. In the afternoon session, the Index regained strength as the European markets opened positive. Sensex closed at 17937, 104 points higher. The Nifty closed at 5383, 31 points higher.

The market breadth was constructive. Realty, IT and Banking sectors helped to raise the market where as marginal selling pressure was witnessed in Oil & Gas, CD and HC sector stocks.

Nifty Futures closed on a new high in past 4 months confirming strength on daily closing chart. Now the level to watch on intraday basis is 5330 which is an intermediate bottom. A corrective trend may be seen in Nifty Futures only below 5330. The intraday support levels are at 5360 and 5330 where as resistance levels are placed at 5415 and 5450 levels respectively.

Trading Calls:

Fairwealth Securities :

Hindustan Zinc:  Buy above Rs 980 for target of Rs 990-1000 and stop loss of Rs 970.

Siemens: Sell below Rs 711 for target of Rs 703-692 and stop loss of Rs 720.

ICSA: Buy around Rs 146 for target of Rs 151-154 and stop loss of Rs 142.90.

Fundamental Calls:

Emkay recommends `Hold` on Sintex Industries with a target of Rs 325 as against CMP of Rs 325

Kotak Securities recommends `Buy` on Aurobindo Pharma with a target of Rs 1,120 as against CMP of Rs 944

Prabhudas Lilladher recommends `Buy` on Titan Industries with a target of Rs 3,000 as against CMP of Rs 2,501

Today's Reco:

Buy UNITECH around 78.55 with strict stoploss of 76.65 for a target of 81 and 83 within this week.

Buy NIFTY FUTURE above 5405 with strict stoploss of 5379 for a target of 5435 and 5450.

Sell BANKNIFTY FUTURE below 9767 with strict stoploss of 9816 for a target of 9733 and 9700
Buy ICICIBANK FUTURE above 889 with strict stoploss of 881 for a target of 895 and 901
Buy SBI BANK FUTURE above 2410 with strict stoploss of 2389 for a target of 2431 and 2448