Sonata Software, India Glycol, Cummins Looks attractive....

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Market does not look encouraging today: The markets rose yesterday by more than 300 points on the BSE Sensex. That was just a sentiment driven and a technical pull back due to Fed Chairman's comments. FIIs were net buyers yesterday whereas the Mutual Funds are net sellers. With the High Oil prices, ruling and dollar ranging high, and Rupee becoming weak, the markets are not looking attractive at all today. Asian markets are today down, but no major change is visible as of now. Yesterday I sold some of my positions. EM Mutual Fund out flows is $ 1.9 bn in the week ended, 19 th July, 2006 . Redemptions largest in Asia and smallest in Russia. For India net out flows is $ 42.5 million for the week ended 19 July, 2006. From the derivative sides, the resutls are not encouraging and discount got less. Today the markets are expected to open in the green due to inertial from the yesterday's market dynamics but would gradually slip in the red. So the investors are asked to book profits in the opening bell. The markets are expected to remain stable or u can say range bound. Two stocks which still look attractive from the investment point of view is:( Delivery and Daytrading) 1.India Glycol--> CMP--->Rs.125.70 , SL--->Rs.123, Target 1-->Rs.135, Target 2-->Rs.140, Target 3--> Rs.180 2. Cummins India Ltd--> CMP-->Rs.167.80, Resistance --> Rs.171, SL-->Rs.165, Target 1-->Rs.181, Target 2--> Rs.202 Also Sonata Software Ltd looks good investment from yesterday's closing price, as I have already mentioned in the letter send earlier in the group. No time now.....More in the following postings. Best wishes, Suman Mukherjee India. http://finance.groups.yahoo.com/group/SumanSpeaks/

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