Downtrend has started - Be cautious

Readers Hi,

Last week BSE Sensex lost 443.64 points or 2.92% to 14,724.18 and Nifty edged down 98.80 points or 2.18% to 4,430.70

Crude Oil has touched $113.

FII have sold worth 620.90Cr and Domestic MF has bought 188.80Cr for the last week.

Inflation at 12.44% was above 12.01% for the previous week.

Approval for the implementation of the Sixth Central Pay Commission recommendations will boost the FMCG sectors and the consumer durables but will also cause dent in the fiscal deficit.

Lack of any positive news from SEBI regarding P-Notes punted the market.

The index of industrial production (IIP) stood at 269.1 in June as against 255.3 in the same month a year ago, translating into a year-on-year growth rate of 5.4% in industrial production versus 8.9% in June 2007.

NSG Clearance meeting is on 21st & 22nd August. It probably may not be successful and hence will not trigger any positive news to the market.

Rally is over and the downtrend has started. There are market rumours that we will soon see 4100 and will touch lower lows i.e around 3700.

Be cautious

1) Shares � Target Achieved

Investment Type	Company Name	Date Added	Target Achieved	No of days	Reco Price	Target Price	Peak Price	% Gain	Annualized % Gain
ST	MIC Electronics	11-Aug-08	14-Aug-08	3	125.20	144	144.60	15.50	1891.00
ST	Jai Hind Projects	11-Aug-08	13-Aug-08	2	103.55	119	123.25	19.02	2871.27
LT	ONGC	23-Jan-08	12-Aug-08	202	959.25	1140	1140.00	18.84	34.14
LT	FirstSource Solutions Limited	08-Jul-08	11-Aug-08	34	32.45	38	41.85	28.97	290.22
ST	Padmalaya Tele	07-Apr-08	11-Aug-08	126	12.95	15.27	15.27	17.92	52.05

www.vjondalalstreet.com/marketma.php

2) Share Recommendations

• 3 New companies added in the Delivery Calls for Long term targets.

For more details visit www.vjondalalstreet.com/marketshares.php

3) Mutual Funds - NFO

• JM Multi Strategy Fund
• JP Morgan India Alpha Fund
• Sahara Banking and Financial Services Fund
• ING Optimix Global Commodities Fund

www.vjondalalstreet.com/mf.php

Happy Trading!

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Disclaimer

All information provided is for informational purposes only, not intended for trading purposes or advice. Prior to execution of any trade, you are advised to consult your financial advisor to verify the accuracy of all information. We are not liable for any informational errors, incompleteness, delays, or for any actions based on information contained herein.