Intraday 27-02-07.

Market looking very weak as of now specially for short term. Intraday upmoves should be used to reduce your position unless SENSEX closes above 14100 which seems impossible going with charts patterns. However I belive intraday up/down are ought to happen. As seen Asian markets are down this morning, with the Nikkei down marginally, while the Hang Seng has fallen sharply. The global decline could put renewed pressure on our stocks today. There can be upmove today in selective counters specially those which has fallen more then the index in past few months. These consists of certain banks like SBI, Union Bank. Others like Mahindra GESCO, Hind Motor, Moser Baer, WWIl, Tech Mahindra, Sujana Metal, Deep Ind, United Spirits and newly listed PFC. These counters can see intraday upmoves. However dont take any of this counters home. As allready said charts strongly suggest a downfall.

Regards,
Bhavin Mehta.