The Indian share markets have been buzzing with activity with turnovers touching Rs 1 lakh crores for the 3rd consecutive day on last Friday. In the last week most of the sectors in the Indian markets gained 4 to 13%, realty being the most favourite. BSE sensex has closed at 15,378 levels and Nifty closed at 4568 levels.  Meanwhile country’s largest private sector refinery RIL ( Reliance Industries Limited) announced its Q1 2010 results.

The results were pretty disappointing though. The net profit levels of the company declined by 11.5% to Rs 3,636 crore. Due to lower demand for petroleum products, its revenue also declined by 23%. So the markets are expecting to discount RIL stock today. Some analyst expect it to fall by 3-5% today when the markets open. And as RIL has 12% weightage, it can drag the markets for a while.

But the global cues are phenomenal now. Asian markets are trading higher on the back of good quarterly results. Nikkei-225 is up by 1.75% as of now. Hang Seng & Straits Times are also up by 1.6% each. So we can expect Indian markets to make up the losses if any by later half.

Here are some intra day trading calls for today :

Bharat Forge

Buy Above 184 Target  187, 191 Stoploss : 179

Shortsell Below  179 Target  176, 174 Stoploss : 182

HDIL

Buy Above 266 Target 271, 273 Stoploss : 260

Shortsell Below  259 Target  256 ,254 Stopkoss: 263

DLF

Buy Above 396 Target 401, 403 Stoploss : 391

Shortsell Below 390 Target: 385, 384 Stoploss : 393

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