Trading recommendations - Oct 31, 2004

Bank of Baroda - This scrip has been recommended by us as a weak counter which needs to be short sold on all advances. The same has turned out to be one of the most prolific & profitable scrip from our recommendations. The scrip is likely to violate a short term bullish trend line and head for the projected 144 - 146 mark in the near future. We re-inforce our bearish call on the counter.

Your call of action - .

• Investors / cash segment players - n/a.

• Aggressive F&O traders - Short sell the November futures at the 157 levels and hold with a stop loss at the 162 levels. Expect the profit target at the 147 levels in a weak market in the near / medium term. Options / income players may await liquidity and a wider range of strike prices to be available before taking a stand on this scrip.

• Derivatives contract size - Market lot = 1,400 shares. F&O margin = approx Rs 40,000 (subject to change daily )

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