Daily Trading Note - June 2, 2008

DAILY TRADING NOTE:

ABB FUT (CMP 1024.75 /+ 2.33%)
We had initiated a long posi tion on the stock around 980. The stock has bounced back from
the above mentio ned support level. We maintain our short term b ul lish outlook on the scrip and expect i t to bounceback ti ll 1100. Traders may go long on the stock for target of 1100 with a stop loss placed below 980.

SATYAMCOMP FUT (CMP 524.15/ + 0.04%)
The stock has breached above its previous tops and is continuously depicting strength in its upward momentum. The stock is looking strong on the chart and is set to test level of 555 / 580 / 600 on higher side. We recommend traders to accumulate the stock on declines up to 505 for the posi tional targets ment ioned above with a stop loss placed below 479.

DLF FUT (CMP 588.40 /- 0.57%)
The stock has decisively broken its important support level of 598 from where it had taken
support twice. The stock has given breakdown on the daily charts and is expected to test price levels of 555 / 540 on downside. We recommend traders to initiate short positions on the stock in the range of 585 - 595 for the above mentioned targets wita stop loss placed at 614.50 on initiation.

DIVISLAB FUT (CMP 1486.50 /+ 3.92%)
The stock has moved if the consolidation zone and advanced sharply on Fr iday. The price advances was well supported wi th increase in OI as wel l as delivery volumes and indicates t owards further upside. Long posi tions can be initiated on the stock in the range of 1460 -1 490 for the price target of 1550 / 1575 with a stop loss placed at 1417 on initiation .

GUJALKALI FUT (CMP 198.25 / + 3.55%)
The stock has given a running break out in the daily char ts and advanced along with increase in
OI. The Stock is generat ing positive d ivergence on the daily char ts and is set to advance further. Long posi tions can be initiated on the stock for price target of 220 / 235 with a stop lo ss placed at 187.

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