TREND FOR 16/5

Markets are still undecided about the direction & though it rallied on the last day of the week cheering the results of the elections, it gave up half of it's gains & still in negative territory. Thus on Monday in light of negative cues the Nifty may slip again to 5470 & on the upside may move up to 5576 - 5651. Long positions can be taken in DRREDDY for a target of 1717, IDEA for a target of 74, JSWSTEEL for a target of 1015, UNIONBANK for a target of 360, TATAMOTORS for a target of 1300.
                                                                            CHEERS !!!