Technical Analysis

Using Gann Angles

Implying Time and Price Analysis.

January 2, 2009

INDEX
Page No
Technical Outlook .............................................................................................3
Gann Angles ........................................................................................................4
S&P CNX Nifty..................................................................................................5
Bharti Airtel Ltd .................................................................................................6
Bhel ........................................................................................................................7
BPCL......................................................................................................................8
Cairn India ...........................................................................................................9
Dlf Ltd ...................................................................................................................10
HDFC BANK Ltd ...............................................................................................11
HDFC Ltd ............................................................................................................12
Hindustan Uniliver............................................................................................13
ICICI BANK Ltd.................................................................................................14
IDFC ......................................................................................................................15
Indian Oil Corp Ltd...........................................................................................16
Infosys Technology............................................................................................17
ITC Ltd .................................................................................................................18
L&T .......................................................................................................................19
Maruti Udyog Ltd..............................................................................................20
NTPC Ltd.............................................................................................................21
ONGC Ltd ...........................................................................................................22
Power Grid...........................................................................................................23
Reliance Capital .................................................................................................24
Reliance Communication ................................................................................25
Reliance Industries ............................................................................................26
Reliance Infrastructure.....................................................................................27
Reliance Petroleum............................................................................................28
Satyam Computer ..............................................................................................29
Stata Bank Of India Ltd....................................................................................30
Sterlite Industries ..............................................................................................31
Suzlon Energy .....................................................................................................32
Tata Steel..............................................................................................................33
TCS Ltd ................................................................................................................34

January 2, 2009

Technical Outlook For Q1 2009

This is our first technical report for the year 2009. In this report we have covered 30 stocks which form
nearly 79% of the Niftys weight and up to 75% of the total trading volumes.
We have used Gann Studies to project Support and Resistance. As per our study nearly 47.37% of the
Niftys weight is likely to lose between 15%-25% while 31.63% of the Niftys weight is likely to
gain between 20-25%.
As far as NIFTY is concerned, we believe that there is a very strong resistance zone between
3000-3155 and a strong support at around 2500 level. Currently we are in a camp which believes
that Nifty is likely to see 2500 from current levels of 3050+, a likely fall of 18%.

Our Top Sell Ideas are : Nifty, HDFC, HDFC Bank, Tata Steel and Reliance Industries Ltd.
Our Top Buy Ideas are : BPCL, CAIRN India, DLF, Hind Unilever and Indian Oil Corp.

* Most of our Top Buy Ideas have recouped their Oct 08 Losses.
January 2, 2009

Gann Angles
A study at Glance

W.D. Gann (1878-1955) developed the use of what he called "Geometric Angles",
now commonly referred to as Gann Angles, used to determine trend direction and
strength, support and resistance, as well as probabilities of price reversal.

Gann was fascinated by the relation of time (T) and price (P). Gann drew his angles from all
significant price pivot point highs and lows. He used just one pivot point to draw an angle
that rose (or fell) at predetermined and fixed rates of speed, as follows:
Tx P = n degrees

1 x 8 = 82.5 degrees
1 x 4 = 75 degrees
1 x 3 = 71.25 degrees
1 x 2 = 63.75 degrees

1 x 1 = 45 degrees
2 x 1 = 26.25 degrees
3 x 1 = 18.75 degrees
4 x 1 = 15 degrees
8 x 1 = 7.5 degrees

January 2, 2009

The most important of all

S&P CNX NIFTY

(CMP: 3056)
6000

6000

5500

5500

5000

5000

4500

4500

4000

4000

3500

3500

3155
3000

3000

2500

2000

2000

1500

1500

1000

1000

500

500
1994

1996

1997

Resistance
3155

January 2, 2009

2500

2500

1998

1999

Support
2500

2000

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

200

Weightage in Nifty

BHARTI AIRTEL Ltd

(CMP: Rs. 711)

1250

1250

1200

1200

1150

1150

1100

1100

1050

1050

1000

1000

950

950

900

900

850

850

800

800

755

750

750

700

700

650

650

618

600

600

550

550

480

500

450

400

400

350

350

300

300

250

250

200

200

150

150

100

100

50

50

-50

-50
2002

J J A SO

D 2003

AM J J A SO N

Resistance
Rs. 755

January 2, 2009

500

450

2004

A M

J ASO N

Support
Rs. 618/480

2005 A M

J AS O

D 2006

A MJ J A S O

Recommendation
Sell

D 2007

AM

J A S O N D 2008

AM J J A SO N

2009

Weightage in Nifty
7.33%

BHEL

(CMP: Rs. 1412)

3100

3100

3000

3000

2900

2900

2800

2800

2700

2700

2600

2600

2500

2500

2400

2400

2300

2300

2200

2200

2100

2100

2000

2000

1900

1900

1800

1800

1700

1700

1546

1600

1600

1500

1500

1400

1400

1300

1300

1218

1200

1200

1100

1100

1000

1000

888

900

900

800

800

700

700

600

600

500

500

400

400

300

300

200

200

100

100

-100

-100

-200

-200
1994

1996

1997

Resistance
Rs. 1546

January 2, 2009

1998

1999

Support
Rs. 1218/888

2000

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

200

Weightage in Nifty
3.64%

BHARAT PETROLEUM CORPORATION LTD

(CMP: Rs. 361)
550

550

500

500

460
450

450

400

400

350

350

345
300

300

250

250

200

200

150

150

100

100

50

50

1994

1996

1997

Resistance
Rs. 460

January 2, 2009

1998

1999

Support
Rs. 345

2000

2001

2002

2003

2004

Recommendation
Buy

2005

2006

2007

2008

200

Weightage in Nifty
0.70%

CAIRN INDIA

(CMP: Rs. 173)

360

360

350

350

340

340

330

330

320

320

310

310

300

300

290

290

280

280

270

270

260

260

250

250

240

240

230

230

220

220

210

210

200

200

186

190

190

180

180

170

170

160

160

157

150

150

140

140

130

130

129

120

120

110

110

100

100

90

90

80

80

70

70
2007

January 2, 2009

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Resistance

Support

Rs. 186

Rs. 157/129

Nov

Dec

2008

Feb

Mar

Apr

May

Jun

Recommendation
Buy: Will Gain
Weightage in Nifty

Jul

Aug

Sep

Oct

Nov

Dec

2009

Feb

Mar

Weightage in Nifty
1.75%
9

DLF LTD

(CMP: Rs. 300)

1300

1300

1250

1250

1200

1200

1150

1150

1100

1100

1050

1050

1000

1000

950

950

900

900

850

850

800

800

750

750

700

700

650

650

600

600

550

550

500

500

450

450

400

400

365

350

350

300

300

250

250

243
200

200

150

150

100

100
2007

August

September

Resistance
Rs. 365

January 2, 2009

November December2008

Support
Rs. 243

February

March

April

May

June

July

Recommendation
Buy between Rs. 245-250

August

September

November

2009

Weightage in Nifty
2.63%

10

HDFC BANK LTD

(CMP: Rs. 1024)

1950
1900
1850
1800
1750
1700
1650
1600
1550
1500
1450
1400
1350
1300
1250
1200
1150
1100
1050
1000
950
900
850
800
750
700
650
600
550
500
450
400
350
300
250
200
150
100
50
0
-50
-100

1000

797

1995

1996

1997

Resistance
Rs. 1000

January 2, 2009

1950
1900
1850
1800
1750
1700
1650
1600
1550
1500
1450
1400
1350
1300
1250
1200
1150
1100
1050
1000
950
900
850
800
750
700
650
600
550
500
450
400
350
300
250
200
150
100
50
0
-50
-100

1998

1999

2000

Support
Rs. 797

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

200

Weightage in Nifty
2.31%

11

HDFC LTD

(CMP: Rs. 1535)

3500

3500

3400

3400

3300

3300

3200

3200

3100

3100

3000

3000

2900

2900

2800

2800

2700

2700

2600
2500

2600
2500

2400

2400

2300

2300

2200

2200

2100

2100

2000

2000

1900

1900

1800

1800

1700

1700

1600

1500

1400

1400

1300

1300

1200

1200

1100

1100

1000

1000

900

900

800

800

700

700

600

600

500

500

400

400

300

300

200

200

100

100

-100

-100
1994

1996

1997

Resistance
Rs. 1454

January 2, 2009

1600

1454

1500

1998

1999

Support

2000

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

200

Weightage in Nifty
2.28%

12

HIND UNILEVER

(CMP: Rs. 250)

340

340

330

330

320

320

310

310

300

300

290

290

290

280

280

270

270

260

260

260

250

250

240

240

230

230

229

220

220

210

210

200

200

190

190

180

180

170

170

160

160

150

150

140

140

130

130

120

120

110

110

100

100

90

90

80

80

70

70

60

60

50

50

40

40

30

30
1994

1996

1997

Resistance
Rs. 290/260

January 2, 2009

1998

1999

Support
Rs. 229

2000

2001

2002

2003

2004

Recommendation
Buy

2005

2006

2007

2008

200

Weightage in Nifty
2.92%

13

ICICI BANK LTD

(CMP: Rs. 474)

1550

1550

1500

1500

1450

1450

1400

1400

1350

1350

1300

1300

1250

1250

1200

1200

1150

1150

1100

1100

1050

1050

1000

1000

950

950

900

900

850

850

800

800

750

750

700

700

650

650

600

600

550

550

476

500

500

450

450

400

400

350

350

313

300

300

250

250

200

200

150

150

100

100

50

50

-50

-50

-100

-100
1997

1999

Resistance
Rs. 476

January 2, 2009

2000

2001

Support
Rs. 313

2002

2003

2004

2005

Recommendation
Sell

2006

2007

2008

200

Weightage in Nifty
2.76%

14

IDFC

(CMP: Rs. 71)

250
245
240
235
230
225
220
215
210
205
200
195
190
185
180
175
170
165
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
75
70
65
60
55
50
45
40
35
30

85

64

42

2005

2006

Resistance
Rs. 85

January 2, 2009

250
245
240
235
230
225
220
215
210
205
200
195
190
185
180
175
170
165
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
75
70
65
60
55
50
45
40
35
30

Support
Rs. 64/42

2007

Recommendation
Buy

2008

2009

Weightage in Nifty
Non Nifty Stock

15

INDIAN OIL CORPORATION LTD

(CMP: Rs. 423)
850

850

800

800

750

750

700

700

650

650

600

600

550

550

500

500

456
450

450

400

400

350
300

300

250

250

200

200

150

150

100

100

50

50

1996

1997

1998

Resistance
Rs. 456

January 2, 2009

350

349

1999

2000

Support
Rs. 349

2001

2002

2003

2004

Recommendation
Buy

2005

2006

2007

2008

200

Weightage in Nifty
Non Nifty Stock

16

INFOSYS TECHNOLOGY

(CMP: Rs. 1136)

26 00

26 00

25 00

25 00

24 00

24 00

23 00

23 00

22 00

22 00

21 00

21 00

20 00

20 00

19 00

19 00

18 00

18 00

17 00

17 00

16 00

16 00

15 00

15 00

14 00

14 00

1317

13 00

13 00

12 00

12 00

11 00

11 00

10 00

10 00

1043

90 0

90 0

769

80 0

80 0

70 0

70 0

60 0

60 0

50 0

50 0

40 0

40 0

30 0

30 0

20 0

20 0

10 0

10 0

-100

-100

-200

-200
19 94

19 96

19 97

Resistance
Rs. 1317

January 2, 2009

19 98

19 99

20 00

Support
Rs. 1043/769

20 01

20 02

20 03

20 04

Recommendation
Sell

20 05

20 06

20 07

20 08

20

Weightage in Nifty
3.49%

17

ITC LTD

(CMP: Rs. 174)

255
250
245
240
235
230
225
220
215
210
205
200
195
190
185
180
175
170
165
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
75
70
65
60
55
50
45
40
35
30
25
20
15
10
5
0
-5

182.50

156.50

1994

1996

1997

Resistance
Rs. 182.5

January 2, 2009

255
250
245
240
235
230
225
220
215
210
205
200
195
190
185
180
175
170
165
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
75
70
65
60
55
50
45
40
35
30
25
20
15
10
5
0
-5

1998

1999

Support
Rs. 156.5

2000

2001

2002

2003

2004

Recommendation
Buy

2005

2006

2007

2008

200

Weightage in Nifty
3.48%

18

LARSEN & TOURBO LTD

(CMP: Rs. 829)

2500

2500

2400

2400

2300

2300

2200

2200

2100

2100

2000

2000

1900

1900

1800

1800

1700

1700

1600

1600

1500

1500

1400

1400

1300

1300

1200

1200

1100

1100

1000

1000

900

900

465

800

800

700

700

600

600

727

500

400

300

300

200

200

100

100

-100

-100
1994

1996

1997

Resistance
Rs. 465

January 2, 2009

500

400

1998

1999

Support
Rs. 727

2000

2001

2002

2003

2004

Recommendation
Buy

2005

2006

2007

2008

20

Weightage in Nifty
2.53%

19

MARUTI UDYOG LTD

(CMP: Rs. 542)

1300

1300

1250

1250

1200

1200

1150

1150

1100

1100

1050

1050

1000

1000

950

950

900

900

850

850

800

800

750

750

700

700

602

650

650

600

600

477

550

500

450

450

400

400

350

350

300

300

250

250

200

200

150

150

100

100
2003

O N D 2004

A M J J

Resistance
Rs. 602

January 2, 2009

550

500

A S O N D 2005

A M J J

Support
Rs. 477

A S O N D 2006

A MJ

J A S O N D 2007

Recommendation
Buy

A M J

J A S O N D 2008

A M J J A S O N D 2009

Weightage in Nifty
0.83%

20

NTPC LTD

(CMP: Rs. 183)

305
300
295
290
285
280
275
270
265
260
255
250
245
240
235
230
225
220
215
210
205
200
195
190
185
180
175
170
165
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
75
70
65
60
55

189

139

2004

2005

M A

M J

Resistance
Rs. 189

January 2, 2009

305
300
295
290
285
280
275
270
265
260
255
250
245
240
235
230
225
220
215
210
205
200
195
190
185
180
175
170
165
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
75
70
65
60
55

A S

O N D

2006 M

A M J

Support
Rs. 139

A S

O N D

2007

A M J

S O N

Recommendation
Buy

D 2008

M A

S O

N D

2009

Weightage in Nifty
8%

21

ONGC LTD

(CMP: Rs. 684)

1450

1450

1400

1400

1350

1350

1300

1300

1250

1250

1200

1200

1150

1150

1100

1100

1050

1050

1000

1000

950

950

900

900

850

850

780

800

800

750

750

700

700

630

650

650

600

600

550

550

485-500

500

450

400

400

350

350

300

300

250

250

200

200

150

150

100

100

50

50

-50

-50
1995

1997

1998

1999

2000

Resistance
Support
Rs. 780 Rs. 630/485-500

January 2, 2009

500

450

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

200

Weightage in Nifty
7.81%

22

POWER GRID CORPORATION OF INDIA LTD

(CMP: Rs. 84)
175

175

170

170

165

165

160

160

155

155

150

150

145

145

140

140

135

135

130

130

125

125

120

120

115

115

110

110

105

105

100

100

92.50

95

95

90

90

85

80

80

75

75

70

70

65

65

60

60

55

55

50

50

45

45
2007

November

December2008

Resistance
Rs. 92.5

January 2, 2009

85

80

February

March

Support
Rs. 80

April

May

June

July

August

September

Recommendation
Buy

November

2009

February March

Weightage in Nifty
1.88%

23

RELIANCE CAPITAL

(CMP: Rs. 573)

3100

3100

3000

3000

2900

2900

2800

2800

2700

2700

2600

2600

2500

2500

2400

2400

2300

2300

2200

2200

2100

2100

2000

2000

1900

1900

1800

1800

1700

1700

1600

1600

1500

1500

1400

1400

1300

1300

1200

1200

1100

1100

1000

1000

900

900

800

800

637

700

700

600

600

500

500

407

400

400

300

300

200

200

100

100

-100

-100

-200

-200
1994

1996

1997

Resistance
Rs. 637

January 2, 2009

1998

1999

Support
Rs. 407

2000

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

200

Weightage in Nifty
Non Nifty Stock

24

RELIANCE COMMUNICATION
(CMP: Rs. 253)
900

900

850

850

800

800

750

750

700

700

650

650

600

600

550

550

500

500

450

450

400

400

350

350

300

300

217

250

200

250

200

141

150

150
2006

May Jun

Jul

Aug Sep

Resistance
Rs. 217

January 2, 2009

Oct Nov Dec

2007

Mar

Support
Rs. 141

Apr May Jun

Jul

Aug

Sep Oct Nov

Dec 2008

Recommendation
Buy

Mar Apr May

Jun Jul

Aug

Sep Oct

Nov Dec

2009

Mar

Weightage in Nifty
2.67%

25

RELIANCE INDUSTRIES
(CMP: Rs. 1274)
3500

3500

3400

3400

3300

3300

3200

3200

3100

3100

3000

3000

2900

2900

2800

2800

2700

2700

2600

2600

2500

2500

2400

2400

2300

2300

2200

2200

2100

2100

2000
1900

2000
1900

1800

1800

1700

1700

1600

1600

1500

1500

1406

1400

1400

1300

1300

1200

1200

1100

1100

1000

1000

1043

900

900

800

800

700
600

700
600

500
400

500
400

300
200

300
200

100

100

-100

-100

-200

-200
1994

1996

1997

Resistance
Rs. 1406

January 2, 2009

1998

1999

Support
Rs. 1043

2000

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

20

Weightage in Nifty
10.57%

26

RELIANCE INFRASTRUCTURE
(CMP: Rs. 626)
2800

2800

2700

2700

2600

2600

2500

2500

2400

2400

2300

2300

2200

2200

2100

2100

2000

2000

1900

1900

1800

1800

1700

1700

1600

1600

1500

1500

1400

1400

1300

1300

1200

1200

1100

1100

1000

1000

900

900

800

800

700

700

627

600

600

415

500

400

300

300

200

200

100

100

-100

-100
1994

1996

Resistance
Rs. 627

January 2, 2009

500

400

1997

1998

1999

Support
Rs. 415

2000

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

20

Weightage in Nifty
0.74%

27

RELIANCE PETROLEUM
(CMP: Rs. 92)
RELIANCE PETROLEUM (86.0000, 89.2000, 85.1500, 88.3500, +3.60000)

315
310
305
300
295
290
285
280
275
270
265
260
255
250
245
240
235
230
225
220
215
210
205
200
195
190
185
180
175
170
165
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
75
70
65
60
55
50

98.55

71.50

2006

Jul

Aug Sep

Oct Nov Dec

Resistance
Rs. 98.55

January 2, 2009

315
310
305
300
295
290
285
280
275
270
265
260
255
250
245
240
235
230
225
220
215
210
205
200
195
190
185
180
175
170
165
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
75
70
65
60
55
50

2007

Mar

Apr May Jun

Support
Rs. 71.5

Jul

Aug

Sep Oct Nov

Dec 2008

Mar Apr May

Recommendation
Buy

Jun Jul

Aug

Sep Oct

Nov Dec

2009

Mar

Weightage in Nifty
2.14%

28

SATYAM COMPUTER

(CMP: Rs. 175)

750

750

700

700

650

650

600

600

550

550

500

500

450

450

400

400

350

350

300

300

250

250

209
200

200

150

150

126.50

100

100

98
50

50

-50

-50
1995

1996

1997

1998

1999

2000

Resistance
Support
Rs. 209
Rs. 126.50/98

January 2, 2009

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

200

Weightage in Nifty
0.64%

29

(CMP: Rs. 1343)

STATE BANK OF INDIA LTD

2600
2550
2500
2450
2400
2350
2300
2250
2200
2150
2100
2050
2000
1950
1900
1850
1800
1750
1700
1650
1600
1550
1500
1450
1400
1350
1300
1250
1200
1150
1100
1050
1000
950
900
850
800
750
700
650
600
550
500
450
400
350
300
250
200
150
100
50
0
-50

1357

1070

840

1994

1996

1997

Resistance
Rs. 1357

January 2, 2009

2600
2550
2500
2450
2400
2350
2300
2250
2200
2150
2100
2050
2000
1950
1900
1850
1800
1750
1700
1650
1600
1550
1500
1450
1400
1350
1300
1250
1200
1150
1100
1050
1000
950
900
850
800
750
700
650
600
550
500
450
400
350
300
250
200
150
100
50
0
-50

1998

1999

2000

Support
Rs. 1070/840

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

200

Weightage in Nifty
4.46%

30

STERLITE INDSTRIES
(CMP: Rs. 276)
1200

1200

1150

1150

1100

1100

1050

1050

1000

1000

950

950

900

900

850

850

800

800

750

750

700

700

650

650

600

600

550

550

500

500

450

450

400

400

350

350

300

300

291

250
200

250
200

170

150

150

100

100

50

50

0
2004

A S O

N D

2005 M A

Resistance
Rs. 291

January 2, 2009

M J

A S

O N D

Support
Rs. 170

2006 M A M J

A S

O N D

2007 M

A M J

Recommendation
Buy

S O N

D 2008

M A M

J J

S O

N D

2009 M

Weightage in Nifty
1.03%

31

SUZLON ENERGY
(CMP: Rs. 67.5)
490
480
470
460
450
440
430
420
410
400
390
380
370
360
350
340
330
320
310
300
290
280
270
260
250
240
230
220
210
200
190
180
170
160
150
140
130
120
110
100
90
80
70
60
50
40
30
20
10
0

68.25

2005 D

2006

Resistance

January 2, 2009

490
480
470
460
450
440
430
420
410
400
390
380
370
360
350
340
330
320
310
300
290
280
270
260
250
240
230
220
210
200
190
180
170
160
150
140
130
120
110
100
90
80
70
60
50
40
30
20
10
0

Support
Rs. 68.25

2007

2008

Recommendation
Buy

2009

Weightage in Nifty
0.52%

32

TATA STEEL
(CMP: Rs. 235)
1000

1000

950

950

900

900

850

850

800

800

750

750

700

700

650

650

600

600

550

550

500

500

450

450

400

400

350

350

300

300

226

250

250

200

200

150
100

100

50

50

1994

1996

1997

Resistance
Rs. 226

January 2, 2009

150

123

1998

1999

Support
Rs. 123

2000

2001

2002

2003

2004

Recommendation
Sell

2005

2006

2007

2008

200

Weightage in Nifty
0.88%

33

TCS LTD

(CMP: Rs. 496)

1450

1450

1400

1400

1350

1350

1300

1300

1250

1250

1200

1200

1150

1150

1100

1100

1050

1050

1000

1000

950

950

900

900

850

850

800

800

750

750

700

700

650

650

600

600

550

550

518

500

500

450

450

410

400

400

350

350
2004

N D

2005 M A

M J

Resistance
Rs. 518

January 2, 2009

A S

O N D

2006 M

Support
Rs. 410

A M J

A S

O N D

2007 M

A M J

Recommendation
Sell

S O N

D 2008

M A M

S O

N D

2009 M

Weightage in Nifty
0.76%

34

Networth Research: E-mail- research@nsbl.co.in

Research

Sector

E-mail id

Deepak Sawhney
RupalKyamsaria
Rabindra Basu
Smita Suryavanshi
Ninie Singh
Sapna D. Naik
Sanjeev S Parab
Mandar Puri

Head - Research
Engineering / Construction
Pharmaceuticals
Shipping / Metals
Cement / Auto
Banking / Telecom
Production
Production

dsawhney2@bloomberg.net
rabindra.basu@networthdirect.com
smita.suryavanshi@networthdirect.com
ninie.singh@networthdirect.com
sanjeev.parab@networthdirect.com

Telephone nos.
022-30286407
022-30281682
022-30286709
022-30286407
022-30286407
022-30281682
022-30281682

Derivative Team
Amol Shrivastava
Vipul Kumar

022-30281580
022-30281682

Networth Institutional Sales: E-mail- dealing@nsbl.co.in

Satish Pasari
Dharmesh Desai
Shalaka Jadhav

(Head Institutional Business)

(Vice Precedent Sales Trading)
(Manager Institutional sales & Dealing)

dharmesh.desai@networthdirect.com
shalaka.jadhav@networthdirect.com

022-22823225 / 22840219 / 65769508

022-22823227/39517635
022-22840217/39517636

Disclaimer: This document has been prepared by Networth Stock Broking Ltd. (NSBL). NSBL is a full service, integrated investment banking, portfolio management and brokerage group. Our research analysts and sales persons
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January 2, 2009

35