NIFTY MAY TOUCH 5500 LEVEL BEFORE BUDGET

We had on 20-01-12 analyzed and predicted that NIFTY would touch 5200 level by 27-01-12. NIFTY did surpass that level today. FIIs are continuously buying and today's net buying in cash market is in excess of Rs 1000CR. This, coupled with usual euphoria before the budget may take NIFTY to 5500 level in coming weeks.

NIFTY TO TOUCH 5200 LEVEL NEXT WEEK

FIIs so far, in 2012, have increased their exposure by almost $ 1 billion and are net buyers on daily basis through out the month. The expiry on 25th is likely to witness hectic activity and short covering which may take the NIFTY beyond 5200 level. Short positions still exists in Banks, Metals, IT and Oil and Gas segment.

FII BUYING AND GLOBAL CUES WILL PUSH THE INDEX FURTHER UP.

FIIs have bought in excess of Rs 1000 CR yesterday. This, coupled with positive global cues will help the index to move further.

GOOD WILL HOSPITAL IPO BOMBS

Book Running Lead Manager - SPA Merchant bankers, has informed the Exchanges that the Book Building issue of Goodwill Hospital and Research Centre Limited has been withdrawn, due to very poor response.

We had advised the investors to stay away from the IPO, because of irrational pricing, unprofessional promoters and limited operating history, among others.

L&T, MARUTI RESULTS ON 23-01-12.

Larsen & Toubro and Maruti have informed the exchanges that a Meeting of the Board of Directors of their respective Companies will be held on January 23, 2012, inter alia, to consider and take on record the unaudited financial results of the Company for the quarter ended December 31, 2011 .

TCS RESULTS ON 17-01-12

Tata Consultancy Services Ltd has informed the exchanges that a meeting of the Board of Directors of the Company will be held on January 17, 2012, to take on record the audited financial results of the Company for the quarter and nine months ended December 31, 2011 (Q3) and to consider declaration of a Third Interim Dividend to the equity shareholders.

INSTITUTIONS BUYING PUSHES SENSEX

Positive global sentiments, clue from the RBI that rate reversal is possible in next couple of weeks made the Institutions - both FIIs and DIIs to mop up rate sensitive and realty sector stocks which helped Sensex to move up by 400 plus points. The rally is expected to continue for few more days, unless there is unexpected global negative news.

WORST PERFORMING IPOS OF 2011

NAME OF THE COMPANY	ISSUE PRICE RS	CMP RS	% CHG	BRLM	FIRST CHOICE RECOMMENDATIONS
TAKSHEEL	150	13	-91	PNB INVESTMENTS	AVOID
BHARATIYA	82	8	-90	ALMONDZ	AVOID
RDB RASAYANS	90	11	-89	CHARTERED	AVOID
ACROPETAL	90	11	-88	SAFFRON	APPLY#
BROOKS	100	13	-87	D AND A	AVOID
SHILPI	69	10	-86	D AND A	AVOID
INDO THAI	74	10	-86	CORP STRATEGY	AVOID
SERVALAXMI	29	5	-84	KEYNOTE	AVOID
PARAMOUNT	35	5	-84	ONE LIFE	AVOID
TIJARIA	60	9	-84	HEM SECURITIES	AVOID
VASWANI	49	10	-80	ASHIKA	AVOID
SANHVI FORGING	85	23	-74	ARIHANT CAPITAL	AVOID
M AND B	186	61	-67	D AND A	AVOID
PTC FIN	28	10	-64	SBI CAPS, ICICI, ALOMNDZ, JM	AVOID
TIMBOR HOME	63	25	-61	CORP STRATEGY	AVOID

# Expect in case of Acropetal, First Choice recommendations were correct in all other IPOs.