Paring some of its early losses, the BSE benchmark sensex was quoting down by 224.42 points during mid-session, after DMK announced to withdraw support from the ruling UPA government over the issue of alleged human rights violations of Tamils in Sri Lanka. After commencing the day on a strong note with gains of over 83 points, the 30-share index plunged by 350.32 points to fall below the 19,000-level to 18,942.88 at 1130 hrs.
After a fairly steady start on positive global cues, the market plunged sharply into the red despite the central bank announcing a 25-basis points cut in Repo rate, as a key UPA ally DMK withdrew support to the government, blaming the centre for not taking a tough stand against the Sri Lankan government on the Lankan Tamils issue.
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1. BUY Bharat Heavy Electricals Ltd. Short Term Target 205 Stop Loss 175.
2. BUY DLF Ltd. Short Term Target 275 Stop Loss 258
3. BUY Oil And Natural Gas Corporation Ltd. Short Term Target 325 Stop Loss 300
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