Mid-day assesment:

I think the market was able to resist the initial fall. It seems the markets has huge support 12200 levels which is not allowing it to fall further. I have mentioned in the morning mails not to expect a bloodbath in the markets after the fall in the Asian and the US markets.

I think the markets should move up from here and there is ample reasons to belive that the markets might close in the green. I am expecting very strong Q2 number from India Inc. whic is expected to flow from the next month.

So, do not sell ur positions and exit today. Keep holding for some 50 to 80 points upmove in the Sensex and 25 to 30 points upmove in the Nifty. But having said this lot will depend how the European markets open.

Concentrate on Mid and Small cap counters. I think buying will start in RIL looking at the morning statistics of huge trade at the upper levels. Some buying will take place in the Large Caps also....

Intraday:

Hold Garbiel India Ltd, who have purchased taking my call for some solid upmove. According to some sources they have sold the land for a Rs.82 Cr.

Hold SPL Industries Ltd and Avon Organics Ltd.

More in the following postings.......

Best wishes,

Suman Mukherjee

India.