Stocks to watch out today( 22-Oct -07)

US markets faced a fall of more then 350 + points on Friday . The fall came on account of weak nos by companies , also some hosing data is also coming which gave jitters to DOW jones.
Taking the Global cueues the Asian mrkts too fell more then 3 % with All Nikkei and HangSang down . But India got its different story . The party was over with the P-Notes issue raised by SEBI and we believe one shuld stay away as till the Issue got cleared .
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Ahead of the F&O expiry the mrkts are expected to be volatile and we can see lot of swings which could eat up ur money if u r intraday trader.
.Below 17200 mrkst try to recover on Friday but as of now if SEBI applies the new rules we may see some more fall in Indian mrkts and below 17200 , 16500 is wat we may face support .

Lots of Good results came out on this weekend like ICICI where PAT rose to 33% .
Ultratech too came out with good nos .
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SEBI and FD ahead of the issues gonna clear 50 FII's very early with there policy .
There is also an important meeting today with UPA for N-DEAL , that shuld also be watched out by D-Street carefully .
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But one thing is sure mrkst are not looking good as of now . And we would sugest to stay with cash until all get settld dwn .
Traders can play but be ready to get ur Stop loss triggered as volatility is not ruled out and at this point of time larger then expected volatility what we can see.

Technology is a safer bet this point of time if u wanna play as they underperformed in the rally and hardly any stock rose with the huge rally in sensex.
One can take is as a safer side and switch to tech sector for the time being .
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Reliance is looking to hive off its Retail division .
Havells is a good buyat every decline .

RCOM is a good buy Even our buy call at 620 lvls for trgt of 770 was achieved .. we are still bullish on telecom .. and RCOM , GTL infra , SREL infra are wat we like most .
Rcom shuld be accumulated on every fall . for long term .
GTL infra with a base of 32 is a good buy for MT .

A weak opening is not ruled out but what we expect is a good recovery in the latter half .
25th oct SEBI will decide on Pnotes ..if that does'nt comes according tio FII's then we may see a

good fall .. but we dont think that would happen .

As we are the bulls in mrkts we dont give short calls but due to demand of readers we can give hints ..

Shorters are eyeing Cement sector .
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watch out for under 100 rs stock .. with huge shedding in F&O


Look out for support for nifty at 5180-90 then 5020 ..
Resisitance will be there at 5260-5330