Sharekhan Highnoon dated April 10, 2007

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High Noon [April 10, 2007] Please see the attachment for details Share khan www.sharekhan.com

Summary of Contents PUNTER'S CALL Range-bound trading The market opened on a flat note and is currently witnessing a range-bound trend... MOMENTUM CALLS We are revamping the momentum products basket as we move into a saleable product-oriented format. The first two out of the basket are Momentum-based portfolios and as of now would be Momentum I and Momentum II till suitably named. The products rolled out are given below. Momentum I It is a cash-based product with the corpus of Rs2 lakh and its multiples.

• There will be a maximum of 5 open calls, each with an investment of Rs40,000. The time frame for the calls will be 5-7 trading days.
• The product is a going long only product targeted at clients not doing the futures and options (F&O).
• The product has a hedge option with the Nifty, which will be used sometimes.

Momentum II

• It is F&O-based long/short product with margin requirements of Rs4-5 lakh and its multiples.
• There will be a maximum of 5 open calls, each with an average contract value exposure of Rs4 lakh.
• The open positions would be maximum Rs20 lakh (approximately) and its multiples.
• The time frame for the calls will be 5-7 trading days.
• The product will focus only on F&O stocks.

Regards, The Sharekhan Research Team myac...@sharekhan.com

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