>INSIDER TRADING 09-01-2009

526433 ASM Technologies Ltd. IDS Systems Pvt Ltd. 20/11/2008 - 29/12/2008 B 51970 1.04 51970 1.04 532977 Bajaj Auto Limited Rahul Bajaj - HUF 30/12/2008 B 192750 531240 0.37 532977 Bajaj Auto Limited Estate of Late Shri Kamalnayan Bajaj 30/12/2008 S 15270 0.01 15270 0.01 532977 Bajaj Auto Limited Kamalynayan Bajaj -HUF 30/12/2008 S 192750 0.13 -- 511072 Dewan Housing Finance Corpn. Ltd., Wadhawan Holdings Pvt Ltd. 02/01/2009 B 26591 0.04 4056729 6.70 511072 Dewan Housing Finance Corpn. Ltd., Wadhwan Holdings Pvt Ltd. 05/01/2009 B 65000 0.11 4121729 6.81 532868 DLF LIMITED Ramesh Sank 05/01/2009 S 100000 -- 532868 DLF LIMITED Shakti Singh 22/12/2008 - 24/12/2008 S 4000 2500 532751 EASUN REYROLLE LTD. Power Venture Holdings Pvt Ltd. 21/11/2008 - 30/12/2008 B 909986 4.38 1736541 8.36 532767 Gayatri Projects Limited Mr. T V Sandeep Kumar Reddy 05/01/2009 - 06/01/2009 B 15457 1400972 13.86 522073 Hi-Tech Gears Ltd., Mr. Pranav Kapuria. 01/01/2009 - 02/01/2009 B 1080 394264 4.20 522073 Hi-Tech Gears Ltd., Mr. Anuj Kapuria. 01/01/2009 - 02/01/2009 B 1047 410604 4.38 532942 KNR Constructions Limited B V Rama Rao 05/01/2009 B 15000 15000 0.05 501343 Motor & General Finance (M.G.F.) Lt MGF Services Ltd. -- B 17001 399597 2.06 500672 Novartis India Limited. Reliance Long Term Equity Fund 31/12/2008 B 10000 0.03 1604700 5.02 532689 PVR Ltd. Bijli Investments Pvt Ltd 05/01/2009 B 3508 5050615 530619 Religare Technova Global Solutions Limited Sudhanshu Varma. 03/12/2008 - 29/12/2008 S 24286 41765 0.19 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 27/05/2008 S 40000 1139513 9.83 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 28/05/2008 S 40000 1099513 9.49 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind. P L 29/05/2008 S 40000 1059513 9.14 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 30/05/2008 S 44000 1015513 8.76 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 02/06/2008 S 44000 971513 8.38 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 03/06/2008 S 44000 927513 8.00 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 04/06/2008 S 44000 883513 7.62 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 05/06/2008 S 51102 832411 7.18 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 08/08/2008 S 45000 787411 6.79 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 11/08/2008 S 20000 767411 6.62 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 23/05/2008 B 41654 1208346 10.42 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 26/05/2008 S 28833 1179513 10.18 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 12/08/2008 S 55000 712411 6.15 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 13/08/2008 S 40000 672411 5.80 526407 Ritesh Properties & Industries Ltd Shree Atam Vallabh Poly Plastic Ind P Lt 14/08/2008 S 91582 580829 5.01 500376 Satyam Computer Services Ltd SRSR Holdings Pvt Ltd -- S 8530500 1.27 15758997 2.34 512289 Shirpur Gold Refinery Ltd. Jayneer Capital Pvt Ltd. 29/12/2008 - 31/12/2008 B 7611003 48.91 7611003 48.91 532793 Shree Ashtavinayak Cine Vision Ltd Dahlia Traders Pvt Ltd. 30/12/2008 B 9900 0.09 3438627 32.81 532793 Shree Ashtavinayak Cine Vision Ltd Dahlia Traders Pvt Ltd. 01/01/2009 B 15000 0.09 3453627 32.96

B - Buy

S - Sale

RESEARCH REPORTS

>INFOSYS Technical Analysis

INFOSYS The icon of IT sector.
After 7th January Satyam saga There's a sudden interest of Traders in IT sector.
Volumes have increased in IT sector scripts considerably.

Of course what happened on 7th January will be remembered as black day in
Indian IT history.Whats bad for Satyam could turnout to be good for its competitors
Existing clients of satyam may be eager to shift to other IT majors.
Let try to analyze Infosys the chart attached is self explanatory
A nice 5 down of 3rd wave expect a nice corrective rally in it if 1000 holds.
1300 could be a conservative target.A falling wedge kind off pattern is emerging
on last down of 3rd wave,Which sugggests a nice pull up if 1000 is held
My views are for active traders,So lets see how Infosys reacts in coming days.
Regards
Rish
RESEARCH REPORTS

>INSIDER TRADING 07-01-2009

500425 Ambuja Cements Ltd. B L Taparia 31/12/2008 S 20000 610250 0.04 531881 Arvind Chemicals ltd. Newage Vinimay Pvt. Ltd & Ors 01/01/2009 - 02/01/2009 B 120886 0.61 2740652 13.84 531541 Avon Organics Ltd. Mr.Rajesh Agarwal 22/12/2008 S 776724 100726 531541 Avon Organics Ltd. Mr. P R Agarwal 22/12/2008 S 203789 753711 531541 Avon Organics Ltd. Mr. Umesh Agarwal 22/12/2008 S 5635 365 531541 Avon Organics Ltd. Mrs. Sarita Agarwal 22/12/2008 B 783411 105709 531541 Avon Organics Ltd. Mrs. Madhu Agarwal 22/12/2008 S 184085 111915 531541 Avon Organics Ltd. Mrs. Urmila Agarwal 22/12/2008 S 13525 100875 531541 Avon Organics Ltd. Mr. Tarush Agarwal 22/12/2008 S 6950 450 531541 Avon Organics Ltd. M/s Hyderabad Met Chem Pvt Ltd 22/12/2008 S 99086 35014 500031 Bajaj Electricals Ltd., Rahul Bajaj 30/12/2008 B 368372 2.13 1336516 7.73 500031 Bajaj Electricals Ltd., Rahul Bajaj - HUF 30/12/2008 B 56520 0.33 188520 1.09 500031 Bajaj Electricals Ltd., Estate of Late Shri Kamalnayan Bajaj 30/12/2008 - 31/12/2008 S 11400 0.06 -- 500031 Bajaj Electricals Ltd., Kamalnayan Bajaj- HUF 30/12/2008 S 56520 0.33 -- 504646 Bhagwati Autocast Limited Ms. Reena P. Bhagwati. 29/12/2008 - 31/12/2008 B 690 0.00 303862 10.54 504646 Bhagwati Autocast Limited Mrs. Mandakini P Bhagwati. 29/12/2008 - 30/12/2008 B 500 233071 8.09 512296 Bhagyanagar India Limited Surana Telecom and Power Ltd 28/12/2008 - 02/01/2009 B 88621 812122 1.09 511501 Bharat Bhushan Share & Commodity Brokers Ltd. Mr. Vijay Bhushan 03/11/2008 - 31/12/2008 B 17323 677384 20.04 533006 Birla Cotsyn (India) Limited Bilpower Limited 31/12/2008 S 928572 0.79 3788675 3.24 532813 C & C Constructions Ltd. Charanbir Singh Sethi 02/01/2009 B 22927 2242179 12.27 532813 C & C Constructions Ltd. Rajbir Singh 31/12/2008 - 05/01/2009 B 6000 2533204 13.87 532813 C & C Constructions Ltd. Sanjay Gupta 29/12/2008 - 02/01/2009 B 20945 30249 0.16 532813 C & C Constructions Ltd. Amrit Pal Singh 31/12/2008 - 06/01/2009 B 22650 2173240 11.90 530871 Chembond Chemicals Ltd. Dr. Vinod D. Shah. 31/12/2008 B 650 440855 511072 Dewan Housing Finance Corpn. Ltd., Wadhawan Holdings Pvt Ltd 31/12/2008 B 11661 0.02 4030138 6.66 522261 Dolphin Offshore Enterprises (India) ltd. Dolphin Offshore Projects Ltd 02/01/2009 - 05/01/2009 B 2158 0.02 1719795 17.98 526227 Filatex India Ltd. Nouvelle Securities Pvt Ltd 01/01/2009 B 2500 0.01 267131 1.56 526227 Filatex India Ltd. Nouvelle Securities Pvt Ltd 02/01/2009 B 8345 0.05 275476 1.61 532345 Gati Limited Krishan Lal Chugh 01/01/2009 S 20220 11665 0.01 509567 Goa Carbon Ltd., Shrinivas V Dempo 31/12/2008 B 101 100311 1.09 532015 Gravity (India) Ltd. Smt. Dakshaben R Thakkar 31/12/2008 B 1098 0.01 55524 0.62 523477 Gujarat Gas Co. Ltd. GGCL-Employee Welfare Stock Option Trust 24/12/2008 - 30/12/2008 B 25700 31770 0.04 523477 Gujarat Gas Co. Ltd. GGCL-Employee Welfare Stock Option Trust 31/12/2008 B 10000 41770 0.06 500184 Himadri Chemicals & Industries ltd. Himadri Dyes & Intermediates Ltd 29/12/2008 - 02/01/2009 B 2700000 8.48 6726919 21.12 500184 Himadri Chemicals & Industries ltd. Bankeylal Choudhary 29/12/2008 - 30/12/2008 S 724500 148428 0.46 500184 Himadri Chemicals & Industries ltd. Damodar Prasad Choudhary 30/12/2008 - 02/01/2009 S 1975500 372928 1.17 500202 India Lease Devl. Ltd., MGF Services Ltd. 06/01/2009 B 1975 256084 2.51 500202 India Lease Devl. Ltd., MGF Services Ltd. 05/01/2009 B 6545 254109 2.49 532881 IVR Prime Urban Developers Limited R Balarami Reddy 24/12/2008 B 100000 131750 0.21 532976 Jai Balaji Industries Limited Jai Salasar Balaji Industries Pvt Ltd. 02/01/2009 B 5021 0.01 1908996 4.06 511131 Kamanwala Housing Construction Ltd Sudha Gupta 31/12/2008 S 1147 240311 1.70 532747 Kingfisher Airlines Limited Capt. K J Samuel 04/12/2008 - 05/12/2008 S 800000 7956807 500257 Lupin Ltd Varun Khanna 31/12/2008 S 1250 48000 0.05 500257 Lupin Ltd Shobhna Khanna 01/01/2009 - 02/01/2009 S 4000 88000 0.10 524232 Maharashtra Polybutenes Ltd Brijmohan Rathi 17/10/2008 S 300000 1.93 -- 524232 Maharashtra Polybutenes Ltd Brijmohan Rathi 19/12/2008 S 100000 0.65 -- 524232 Maharashtra Polybutenes Ltd Brijmohan Rathi 31/12/2008 S 50000 0.32 -- 531131 Mascon Global Ltd Mr. K Chandra 04/01/2009 B 2982456 22152049 5.99 511688 Mathew Easow Research Securities Lt Mathew Easow Fiscal Services Ltd 24/03/2006 - 23/12/2008 B 78594 2.62 -- 511688 Mathew Easow Research Securities Lt Mathew Easow Fiscal Services Ltd 23/03/2006 - 23/12/2008 S 46525 1.55 1460967 48.70 532907 Maytas Infra Limited HDFC Growth Fund. 12/08/2008 - 17/10/2008 B 500000 0.85 861912 1.46 532907 Maytas Infra Limited HDFC Children's Gift Fund. 16/12/2008 - 17/12/2008 S 8000 0.01 -- 532907 Maytas Infra Limited HDFC Prudence Fund. 18/12/2008 - 26/12/2008 S 800000 0.00 -- 532907 Maytas Infra Limited HDFC MF Monthly Income Plan-Long Term. 29/08/2008 S 75000 0.12 -- 532907 Maytas Infra Limited HDFC Multiple Yield Fund. 17/12/2008 S 15700 0.02 -- 532907 Maytas Infra Limited HDFC Multiple Yield Fund - Plan 2005. 04/08/2008 S 5300 0.00 -- 532907 Maytas Infra Limited HDFC Long Term Equity Fund. 19/12/2008 - 26/12/2008 S 249562 0.42 547886 0.93 532907 Maytas Infra Limited HDFC Infrastructure Fund. 12/06/2008 B 40000 0.06 0 0.00 532907 Maytas Infra Limited HDFC Infrastructure Fund. 17/10/2008 S 325000 0.55 710569 1.20 532907 Maytas Infra Limited HDFC MF Monthly Income Plan-Long Term. 17/12/2008 - 18/12/2008 S 175000 0.29 -- 532907 Maytas Infra Limited HDFC Prudence Fund. 12/08/2008 S 100000 -- 501343 Motor & General Finance (M.G.F.) Lt MGF Services Ltd. -- B 8229 0.04 382596 1.97 500460 Mukand Ltd., Rahul Bajaj 30/12/2008 B 41330 0.05 70630 0.09 500460 Mukand Ltd., Rahul Bajaj - HUF 30/12/2008 B 1892 5192 0.01 500460 Mukand Ltd., Estate of Late Shri Kamalnayan Bajaj 30/12/2008 - 31/12/2008 S 2100 -- 500460 Mukand Ltd., Kamalnayan Bajaj - HUF 30/12/2008 S 1892 -- 526721 Nicco Parks And Resorts Ltd. Rajive Kaul 31/12/2008 - 01/01/2009 B 300 178300 3.80 532718 Pratibha Industries Ltd. Mr. Ajit Bhagwan Kulkarni 31/12/2008 B 52000 1453532 8.71 532791 PYRAMID SAIMIRA THEATRE LTD. Nirma Kotecha 19/12/2008 - 23/12/2008 S 1836844 6.49 4379709 15.48 526753 Roselabs Ltd Singhal Overseas Ltd -- S 10801 1236233 10.87 500376 Satyam Computer Services Ltd SRSR Holdings Pvt Ltd -- S 10290000 1.53 24289497 511754 Shalibhadra Finance Ltd. Mrs. Sheetal M Doshi 02/01/2009 B 1 1033476 20.65 511754 Shalibhadra Finance Ltd. Mrs. Sheetal M Doshi 01/01/2009 B 152 1033475 20.65 511413 Sharyans Resourses Ltd. Zainab Wahedna 01/01/2009 B 46000 491000 3.30 511413 Sharyans Resourses Ltd. Zainab Wahedna 02/01/2009 B 81000 572000 3.84 512289 Shirpur Gold Refinery Ltd. Jayneer Capital Pvt Ltd 29/12/2008 - 31/12/2008 B 521933 3.55 7611003 48.91 512289 Shirpur Gold Refinery Ltd. Jayneer Capital Pvt Ltd 30/12/2008 B 7089070 45.55 -- 532833 SPARSH BPO SERVICES LIMITED Mr. Kapil Puri 01/01/2009 - 02/01/2009 B 4474 1191117 7.38 532348 Subex Ltd Subash Menon 31/12/2008 B 14500 2495767 7.16 524542 Sukhjit Starch & Chemicals Ltd. Shri I K Sardana 31/12/2008 B 860 359810 4.87 524542 Sukhjit Starch & Chemicals Ltd. Shri K K Sardana 02/01/2009 B 3065 375138 5.08 532874 Suryachakra Power Corporation Ltd. Mrs. M. Mangatayaru 30/12/2008 - 01/01/2009 B 8726 1252877 1.63 530239 Suven Life Sciences Ltd. Madhavi Jasti 31/10/2008 - 29/12/2008 B 201753 9443793 8.15 530239 Suven Life Sciences Ltd. Kalyani Jasti 31/10/2008 - 20/11/2008 B 217744 9414000 8.12 532890 Take Solutions Ltd R. Sundara Rajan. 03/12/2008 B 10000 15370 0.01 500148 Uflex Limited Flex International Pvt Ltd 01/01/2009 B 1000 27728005 500427 Uniflex Cables Ltd. H N Shah 02/01/2009 B 100 100 526879 UT Ltd. Smt. Vandana khaitan 29/12/2008 - 30/12/2008 B 10685 168790 2.77 511333 VLS Finance Limited M.P. Mehrotra (HUF). 30/12/2008 B 19200 0.04 510025 1.28 500575 Voltas Ltd., Life Insurance Corporation of India 28/01/2005 - 22/12/2008 B 7001901 2.11 35424071 10.70

B - Buy

S - Sale

RESEARCH REPORTS

>ICICI Bank Technical analysis

We are witnessing temporary injections all over the world in banking sector.
Indian Banking sector was also given some relief by reducing CRR ratio, repo rate
and the SLR whenever was needed.

Which in turn helped in nice swift rally in banking scripts.
ICICI bank saw handsome 300-500+ in a matter of approximately 2 months.
Hourly chart shows an impulse up ,Which is almost at its end.
We can witness good correction in this script from present levels.
Profit booking is advisable.
480 remains a good support.

Regards
Rish

RESEARCH REPORTS