MARKET MARNTRA:

The markets as expected exhibited a strong rally yesterday. A positive start was followed by sustained buying in the Nifty taking it to a high of 5154. However, some profit booking was seen during last hour of trade which pulled down the Nifty to 5124. Yet Nifty managed to close with a gain of 60 points. This is in continuation of 47 points higher close on Tuesday, totaling more then 100 points gain in just a couple of trading sessions.
Market has witnessed broad base rally and same is expected to continue today also, though we might have occasional bouts of buying and selling in intra-day trades. Smart rally from the oversold area below 4800 and a weekly close above 5000 mark clearly shows end of the downtrend started from 5700 level. Rally is expected to continue in market.  Long positions can be hold on to with a stop of 4900.
RESISTANCE --XXXX & XXX (For Paid Groups).
SUPPORT--XXXX & XXX (For Paid Groups).
Those who have taken position in Prakash Industries Ltd are asked to  continue to add the scrip, as the company's power project is about to get completed in this month. I have spoken with the sources yesterday and after that I came up with a report at: http://sumanspeaksplus.blogspot.com. There is already, a high level of delivery based buying (Volume in the counter has crossed 1 lakh) seen in the counter, which proves that some of the punters  are accumulating the scrip to make a killing in the future.
Those who are holding Allied Digital Services Ltd are requested to book some profits on the counter and keep holding the rest with a SL of Rs.XX (For the Paid Groups). You can offload the rest around the targeted price of Rs.XXXX (for the Paid Groups).
Those who are holding Bank of India and Tata Motors are requested to hold for the periods mentioned in my earlier mails and exit or book profits in the counter if the either side is hit.
Two positive news from the Power Sector:

• RELIANCE POWER: Moher and Moher Amlohri coalmines, which are captive for the company's 3,960 MW Sasan ultra mega power project, will be operational by early 2012.
• RURAL ELECTRIFICATION CORP: Plans to raise $100 mln through Swiss franc denominated bonds by October.