Stock Pick's .... 03/05/08

Last week, our market for Nifty Futures closed nearly 2.36 % higher. During the week, it has thus broken upward of the 200 DSMA and has remained above the same for the last two trading sessions. The higher bottoms and higher tops formation still holds.

The week witnessed two positive closing days and two negative closing days. However, the positive days numbers (closing price difference) outclassed the negative days numbers. This shows the strength of the upmove, so far.

The bullish gap in Nifty Futures remains unfilled at 4990 - 95 level. Inflation at 7.57 % remains a local worry factor for the market. However, currently, markets seem to be ignoring the same. Last week saw US Fed cut their rates by 25 bps while RBI increased CRR rates by 25 bps.

Buy Adlabs Films ( @ CMP - 763.95 )

Target 1 -- 790
Target 2 -- 810
Target 3 -- 840 +
Stoploss -- 750

Buy Adani Enterprises ( @ CMP - 871.35 )

Target 1 -- 890
Target 2 -- 910
Target 3 -- 940 +
Stoploss -- 865

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