Yesterday the market opened higher but failed to sustain gains.
Actually the market has lost so much in past 15 days that with each gain, profit booking will set in. This does not reflect the weakness of market. Shares like SBI, REL, Unitech and Reliance hold promise. Yesterday after the strong recovery, the market never looked back in the latter part of the day.

Even though the market sentiment has turned positive the medium-term trend is still negative. Look for select buying opportunities in which growth is clearly visible.

Quite often the clients who come to me for assistance in filing Income Tax Returns come with a casual approach and have a feeling that God forbid any thing goes wrong during Assessment, I would be able to bail them out.

Income Tax practice is not a “middleman ship” and an assessee must complete his office file before filing Income Tax Return as if the case has been selected for Scrutiny Assessment to avoid sleepless nights once it has been actually selected.

Buy ICICI Bank at 825 for a target of 1070

Buy RCOM at 506, Target 517

Buy Reliance Aug fut in the range of 1793-1796(fut) and keep a SL at 1985(fut)

SCRUTINY………..by Income Tax ……appears such a
dreaded word that for most people it is akin to see a wolf while you are alone
and unarmed with no where to run to, right?

I am
tax practitioner, Scrutiny is my bread and butter but that does not mean I can
not under stand your pain.

Selling appears gap of nervous investors, hold positions

The current phase of the market would be an opportunity to invest in the stocks you feel convinced

Buy Kirloksar Oil at 330, Target 400 in 2 month

Now days, flexi working, target based working, or assignment based jobs and other such variants of the jobs are emerging. As we know, an employer is supposed to deduct TDS from the payments made to an employee. However, while an employee is not able to claim deduction of expenses incurred by him in discharge of his duties, a professional is entitled to claim deduction of the expenses.

DLF is set to close the Swatantra Bharat Mills real estate deal with DCM
Shriram Consolidated for over Rs.16 bn. This will be the largest private sector
land deal in the country and will give DLF access to about 38 acres of prime
land.

In what could be a major input to solve the vexed issue of gas pricing, the
Prime Minister's Economic Advisory Council has endorsed the gas price
discovered by Reliance Industries by inviting bids from large consumers in
the domestic market.- watch this counter

[12:00] Buy HDIL August Fut@ 517-519 , SL-508, Tgt-545-550, TF-2-3 days

[09:30]Buy IDBI Aug futures @126-128 Stop Loss-124.80 Target-136-138 in-2-3 Days

Be selective in buying and no long positions as at now Markets may witness another volatile session.

The Reliance Anil Dhirubhai Ambani group is setting up TowerX, a tower tenancy exchange platform, through which mobile operators, tower owners and owners who want to rent out space for towers can transact business and book tower capacity online, Watch RCOM

The Reliance Group and the Railways are likely to form a joint venture for a 22-km rail link between Panvel and Rewas Port to provide the much-needed rail connectivity to the 2,850-hectare port-based special economic zone at Rewas.- Hold Reliance

Buy Bajaj Autoat 2318 for Target of 2648