Trading recommendations - Feb 22, 2004

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Maruti - this scrip has been one of the more prolific recommendations and also one of the more profitable ones. The reco dates were 08/11/03, 03/01/04, 24/01/04 and 31/01/04 Click here to view previous editions. The scrip is a strong market out-performer and is in a major uptrend as the chart below indicates. We recommend a buy on declines.

Your call of action - 

• Investors / cash segment players - Buy the counter at the 480 mark and maintain a stop loss at the 465 mark. Expect a price of 535 - 545 in the short term in a conducive market. Longer term investors may expect a higher level over a 6 month period.

• Aggressive F&O traders - Buy the March futures at the 489 mark and hold with a stop loss of 483 levels. Expect to book profits at the 510 - 514 in a firm market in the short term itself.

• Derivatives contract size - Market lot = 1,600 shares, F&O margins = approx Rs 3,00,000 ( subject to change daily ).

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