Report for May 17th , 2010

KOTAKBANK ( Has the Acquisition failed? )

Kotak was in talks with Citi financial & we have taken a buy call last week at 760 hits 790 , But further upmove depends on the news & it looks like the Acquisition is failed and hence we Go short in Kotak around 770 levels

Once it breaks 736 Real Panic Will start & stock can crack upto 725-710 levels.

PNB , SCI , MPHASIS (Techically weak )

Bears rampage for these 3 counters this week , no big news announced yet , may be it can come anytime this week ? or some one knows something ?

PNB Once breaks 993-992 ,stock can crack upto 760-770 levels
MPHASIS ,breaks 641 unexpected free fall upto 630-620 levels in panic
SCI , With volume once breaks 162 levels can crack upto 158-155 levels today

Good luck