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com October 14, 2008

The Asian markets closed mixed while European markets were Market Watch on 13 Oct 2008
trading smart. For the Indian market, it was a strong pullback
rally and a good day of trade. Sensex closed at 11332, up 804
points and Nifty at 3490, up 210 points from the previous close.
BSE Midcap index was up 5.77% and BSE Smallcap index was
up 3.85%. All sectoral indices were in the positive. BSE Bankex
index up 12.5%, BSE Power index and BSE Realty index both
up 9% and BSE IT index up 8%. The market breadth was
positive with advances at 966 against declines of 323 on the
NSE. Top Nifty gainers included Reliance Communications,
ICICI Bank and Reliance Infrastructure while losers included
Ranbaxy and Sun Pharma.

The global equity crisis may not last long as most of the Govt has stepped out for buying stakes in banks
which will create much required liquidity. At the same time the much hyped GOLD rally could end and huge
selling may come in this yellow metal in coming months. The overall liquidity crisis has also affected the
Diwali offtake which may find further set back in gold demand. There were 27 countries which are going
through this difficult phase of liquidity crisis. Even one or two comes in open to pledge their gold reserves
could spark excess supply in GOLD. As such those who are long in Gold can't see the reversal.

Even rupee has made bottom formation between 49 and 50 and could rise back to 46 or 47 levels very fast.
Some remittances could help rupee rise faster than anticipated. In fact, one of the wire media carried a report
couple of days back that there could big outflow from Swiss bank to Indian shores because of the lack of faith
in any western bank, howsoever strong it could be. The same report indicated that Indian money lying in
swiss accounts could be as high as 1.45 triilion usd. If this is true and even 1% is back in India it could be 15
bn usd which is a huge inflow to set right the capital markets at least in India.

In any case, with crr rate already cut by 1.5% and expected interest rate cut of 1% the growth will re surface.
Yet there is always a choice left with the investor which side he has to be. He has also option to remain in the
class of assets which he likes.

Market Watch: 14 October 2008

Nifty:
Nifty main trend still favor bears. It has support@ 3500/3220/3150. On the other hand it will face
resistance near 3510/3670. Some short has been seen which may become a continuous fact but that is
subject to the happenings around the globe. Any how markets will plunge further below the level of
3200, Until then we may travel till the resistance levels.
S2 S1 Pivot R1 R2
3298.60 3394.60 3452.40 3548.40 3606.20
Sensex:
Main trend remains down. Support will come near 10840/10240 levels. It may test resistance, which
are like to come around 11410/12935. If Sensex breaks below 10240, then further downside will be
the case

Money Mantra Financial Focus -1-

Visit us at www.moneymantrastock.com October 14, 2008

SBI:
SBI show good momentum in this weak market now it time to bright again. We rec BTST also now next
target should be 1580/1600 in short term. Once it crosses 1535 level advised to take more position.

Maruti:
The stock is showing some strength at this point in time. It may test 750 levels in the near future.
Traders can remain long.

Money Mantra Research

Positional Calls for Short Term
Sr. Stock Action Rec Price Stoploss Target Holding Remarket
1. LITL EQ Buy For members 2-3 days
2. BHEL Fut Buy 1522-1530 For members only 2-3 days
Strict on Stoploss
NOTE: Kindly note that all stop losses in Momentum Calls are on an intra-day basis. MOM = momentum call.

Intraday calls Performance : 13 Oct 2008

Date Script Type Rec Target Stoploss Remark
Price
13-Oct-08 Buy Axis Bank Fut 600 612/635 592 High 674 Achieved up 15%
13-Oct-08 Buy ICICI bank Fut 415 428/445 406 High 453 Achieved
13-Oct-08 Buy SBI Fut 1435 1450/1465 1418 High 1535 Achieved
13-Oct-08 Buy Suzlon Fut 102 98 108 High 110 Achieved
13-Oct-08 Buy Maruti EQ 708 715/720 702 High 727 Achieved

Delivery Delight
13-Oct-08 Buy LITL Eq 176 Holding for short term still carry on.

BTST/STBT CALLS :
Date Script Type Rec Target Remark Profit/Loss
13-Oct-08 BTST Axis Fut 656 665/675 Closing @ 673 Profit: 4,000 +
13-Oct-08 BTST SBI Fut 1490 1520/1535 Achieved Same Day Profit: 5,900 +

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Disclaimer: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the
securities mentioned. Readers using the information contained herein are solely responsible for their actions. The
information and views contained herein are believed to be reliable but no responsibility or liability is accepted for
errors of fact or opinion. Editors may or may not have trading or investment positions in the securities mentioned
herein.

Money Mantra Financial Focus -2-