BUY RELPET (RPL) OCT FUTURES CMP 182.25 Target 187.5 and 191 StopLoss 177.1

BUY NEYLIG (NEYVELI LIGNITE) CMP 125 Target 135 and 141 StopLoss 118.1

We expect a positive opening for our markets after yesterdays sharp pullback. But, we expect some intra day upside resistance at 5650 levels in this pullback. Hence, we expect to close slightly positive for the day. We can see that the markets have closed very weak today at 5559 levels. We can also see on the daily charts that the market retracement of 23.6% from the 4485 lows made on 18/9/2007 to the 5708 highs made on 16/10/2007 is 5422 levels. As, we have experienced a bullish rally for our markets in the past few weeks ,we expect a likely retracement to 23.6% levels. Hence, we expect our markets to decline to 5400 levels in the near future.