STOCK RECOMMENDATIONS FOR THE WEEK 25 TO 29AUG 2008

RELIANCE (2245)
In view of the uncertainty in the markets, Reliance could also edge down towards 2150 and 2100. Buy it on reversal from these levels with a stop loss at 2090. However, short term long positions may be squared off on every rise as it could find difficulty in moving above 2310 and 2376 in the short term.

SBIN (1344)
Moved lower last week as expected. In the event of further weakness in the markets, it has a hope of halting at 1250 levels on decline. reversal from these levels or present levels would be an opportunity to buy for a medium term target of 1500 or above. Decline below 1250 levels could pull it further down to 1000 levels. Existing medium to long term 'long' positions may place a stop loss at 1240.

INFOSYSTCH (1696)
Overall wekness could pull it down towards 1600 levels in the near term. As mentioned last week, fresh long positions may only be initiated on a close above 1760. However, the continued consolidation in this stock can help it make an upmove beyond 1760 in the next few weeks if 1500 level is not breached.

NIFTY FUTURES
No definite outlook for this week. Trading calls, if any, would be posted on UPDATES everyday.
The existing Long positions in August series are to be squared off obviously, on every rise, as markets are likely to show some strength in early part next week. Trade as per the Nifty spot levels given in the 'Weekly Index Outlook' above.