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Mid and Small Caps will continue to sizzle in the Indian Bourses: Today's highlights:
Almost all of my recommended picks did well and I hope the Mid Cap and Small Cap Rally will not be affected too much by the F & O Settlement which is mainly a large cap issue (except some companies).
1. Essar Shipping closed above Rs.26 (Recommended at Rs.24.85). Action: Keep holding the counter and wait for the stock to cross Rs.27.5 convincingly to maintain the trend. The spurt in volume in the counter suggest that the stock should not go below this price.
2. Samkrg Piston & Rings Ltd closed above Rs.82. Action: Keep holding the counter and wait for the stock to cross Rs.88 convincingly. The current trend in the stock is intact. The scrip is consolidating in the range of Rs.79--Rs.82. Any new corporate announcement, which might be within a short time, could zoom it above Rs.100. The problem is that this company is not investor friendly and do not regularly post the corporate happenings.
3. California Software Company Ltd closed a little above Rs.75. Action: Those who are holding continue to hold the counter. This is another non-investor friendly counter. The company is no doubt very good but something from the promoters side is needed to move any stock. It has a strong resistance around Rs.79. Try to exit this on any rally.
4. Zenith Software Ltd closed a little below yesterday's recommneded price. Action: Take position in this counter as it up for a major upmove within a short time. The company is into retailing and its foray with HCL Infosystem will make it a leader in the Branded P C space. It is already into retailing business. Comparing to other retailing companies like Pantaloon or Trent it is on a better footing. 5. Monnet Ispat Ltd spurted and closed more than Rs.182. Action: Book partial profit in the counter. The metal stocks are rising after China increased the interest rate (I have mentioned in my earlier posting that it might happen both in Metals and Textiles. ..Please look for my previous mails). Keep holding the rest. The stock might reach Rs.190 within a short term. 6. Soma Textiles & Industrie Ltd crossed the major resistance of Rs.32 and closed above it. Action: Keep holding the counter with a SL of Rs.32. Take further position in the counter if it remains above Rs.32. 7. Hazoor Media & Power Ltd got locked in the buyer freeeze. It is moving due to formation of some Media fund. The fundamentals will start improving at the end of this Fiscal when the company will start getting revenues from power and real esate. For the time being very risky counter considering that it is in the T-group. Action: Book partial profits and exit completely around Rs.13. If it crosses Rs.15 convincingly then again enter and book partial profits at Rs.22. The lack volume in the counter is a cause of worry.
Besides these, there are some other happenenings in today's market:

1. Today the total turnover on BSE amounted to Rs 1,897 crore, indicating half-hearted participation in trade, and way below the total turnover of Rs 3,197 crore on Friday. 2. The market-breadth was positive on BSE; 1,418 shares advanced as compared to 1,047 that declined. A total of 68 scrips remained unchanged. The BSE Small-Cap index finished 36 points higher, at 5,868.32. The BSE Mid-Cap index ended 29 points ( 0.6%) higher, at 4,842.67. 3. Dr Reddy's turned ex-bonus today, and ended at Rs 712 on a volume of 1.19 lakh shares. It issued 1:1 bonus shares. 4. Tech Mahindra listed at a whopping 44% premium on BSE, at Rs 525 per share, compared to an issue price of Rs 365 per share. It ended with a huge premium, at Rs 552.80, on am extremely high volume of 82.19 lakh shares. The scrip moved between Rs 569 and Rs 523. 5. Hindustan Zinc rose 1.48%, to Rs 593, after the company hiked zinc prices by 2.19%, to Rs 1,81,600 per tonne from 26 August 2006 (Saturday). The stock was recommended by me at Rs.510. Action: keep holding the counter and keep strict stop loss of Rs.575. 6. Voltas advanced 4.46% to Rs 918 on a volume of 94,078 shares. On Friday, it signed a strategic deal with Netherlands-based CA/ULO storage technology specialist Besseling-Group. 7.S Kumars Nationwide advanced 3.10%, to Rs 73.40 after the Reserve Bank of India allowed FII-buying upto 49% in the counter. 8. Sintex Industries rose 2.08%, to Rs 174 after the company announced that it will spend Rs 410 crore to expand the textiles and plastics capacity.

Tomorrow's recommended picks:
1. T.....I......
2. K.....C.....
3. Sa............
4. K...E.... Best wishes, Suman Mukherjee India.
Note: I am facing lot of problems with my Internet Connection. So if u do not get my mail or postings in the blog, then it must be due to the Internet Failure

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