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

Markets took a hit yesterday . And were tanked almost 700 points .As we mentioned in yesyerday to our readers that any breakege below 5700 in nifty could take nifty down to 5500 lvls . And that what we have witnessed yesterday , as soon nifty breakes the support of 5700 we have seen massive sell of and the discounst figure in nifty clearly shows the how badly traders have shorted the nifty nifty fallen to 5540 lvls in futrs segmnt . we see 5500 spot nifty as rock support and 5470 as tech support as in last correction mrkst bounced back from these lvls .

.
US markst took a hit yuesterday and are at very imp lvls of 12750 , any dwside from these lvls could take US mrkts to be in bear fase.
India may take a hit also . Sensex if correction continues below 5470 , we may see further dwnside also .. how much . that is to be noted .. analyst says it could go dwn as much as 5000 on nifty if 5470 around that is broken , but we dont see any reason for the dwnside as INDIA growth
continues , anydwside if happens that would be because of FII sell off and woul be against india growth story .

Valuations are not expensive at thse and markst are perfectly balanced with according to P/E ratio.
But any further buying is suggested only in uptrend after 5700 .
yes stock which were not hit in yesterday sell of can be broken . Strong scripts that did 'nt fall much are to be bought here . 20-30% of ur buying can be done at these lvls . but its better to watch mrkts settle first .
Stocks like IDFC , RPL , BSEL infra , GTL infra , NTPC , Neyveli lignite , power grid ,
GNFC , Lanco , ILFS , Koutouns ., TTML

Religare had aexcelent listing yesterday as we predicted stocks is in range of 500-600 .
all dips can be used to enter as it gt a massive expansion plans with foray into insurance sector to banking so its a growing comp . one can buy in dips for long term prospect ..

Asian mrkst are showing mix signals , and we belive indian mrkts to show its strength and bounce bk would be expected at thse lvls .
But the point would be FII who are selling and PN unwinding thats happening due to holiday season and end of yr .. so we have 50-50 chances ..
At any points short covering is gng to happen and when that would happen , you would see a sharp rise .. so nifty here is imp to watch for all decesions ..
Have a grt day !!!!