A quick look at the cues for today, Global markets are positive, crude is cooling off. Technically we have seen reversal patterns in charts for some days now. So the stage is set for target 4630 and max 4730 in the coming days. These are levels where one can book any longs that are being held. There is every chance that once we reach those levels market would reverse again and take a pounding. We will know when we get there. There are lot of shorts built into the system now around 4500 levels so any bounce can also trigger a bout of short covering adding muscle to the rally. On the NIFTY front there is not much of an update so I am not posting a chart today. The major supports and resistances are available in the chart in previous posts.

STOCK PICKS
-----------
NATIONAL ALUMINIUM (NALCO) - CMP 490.95 BUY Target - 505, 513. SL - 488

NAGARJUNA FERTILIZER - CMP 46.65 BUY Target - 50.9 SL - 46