JAI SHRI KRISHNAUS MKT CLOSED ALMOST FLAT WITH NASDAQ INCHING UP BY 2 POINTS AND DOW JONES UP BY 20 POINTSHANGSENG,SANGHAI AND TAIWAN CLOSED TODAY.NEKKI TRADING LOWER. MARKET BIAS-FLAT TO POSITIVE.NIFTY FUTURES (F & O):ABOVE 4808 LEVEL, EXPECT MINOR RECOVERY UP TO 4821-4823 ZONE. IF CROSSES & SUSTAINS AT ABOVE 4847-4849 ZONE THEN UPTREND MAY CONTINUE.SUPPORT AT 4762 & 4775 LEVELS.BUY IF TOUCHES 4720-4722 ZONE. STOP LOSS AT 4694-4696 ZONE. SHORT-TERM INVESTORS HORT-TERM UPWARD TARGET AT 4860-4862 ZONE (OR) AT 4886-4888 ZONE. SHORT-TERM SUPPORT AT 4655-4657 ZONE (OR) AT 4681-4683 ZONE ABAN OFFSHORE FUT : BUY WITH STOP LOSS OF 3030 . . . . . TARGET OF 3131, 3175 . . . . IDFC FUT UY WITH STOP LOSS OF 150 WITH TARGET OF 157.50, 161 . . .CAIRN FUT UY WITH TARGET OF 237, 240 . . . . . . .KEEP STOP LOSS OF 224. . . INDIABULLS SECURITY.......BSE CODE : 532960 (89.10)NOW, BUY AROUND 88 TO 90 WITH STOP LOSS ( IT'S ROCK BOTTOM ) 77, FOR A TARGET OF 97 , 101. HALDYN GLASS.........BUY AROUND, 79 TO 80 WITH SL OF 73 FOR A TARGET OF 89 , 92.GVK POWER.........BSE CODE : 532708 (40.25)BUY AROUND 40 TO 40.50 WITH SL OF 37 FOR A TARGET OF 43.50 TO 44.70. THE FED CHIEF WILL APPEAR BEFORE THE SENATE BANKING COMMITTEE AT 10 A.M. EASTERN TIME. BERNANKE SENT A NUMBER OF NEGATIVE SIGNALS WEDNESDAY DURING TESTIMONY TO THE JOINT ECONOOMIC COMMITTEE, MAKING CLEAR THAT HE THINKS A RECESSION MAY ALREADY BE UNDER WAY. IF BERNANKE REITERATES THOSE SENTIMENTS THURSDAY, THERE COULD BE SELLING THROUGHOUT THE SESSION. MANY ECONOMISTS PREVIOUSLY HAVE SAID THEY THINK THE ECONOMY IS SHRINKING, BUT THE FED CHAIRMAN CARRIES SPECIAL WEIGHT WITH INVESTORS AND HIS PRONOUNCEMENTS CAN INFLUENCE THE MARKET. NEW DATA REPORTS ALSO COULD INFLUENCE THE DIRECTION OF TRADE. AT 8:30 A.M., THE LABOR DEPARTMENT WILL RELEASE THE LATEST WEEKLY JOBLESS CLAIMS TALLY, A DAY BEFORE THE MUCH-AWAITED MARCH EMPLOYMENT REPORT COMES OUT. ACCORDING TO THOMSON/IFR, THE NUMBER OF CLAIMS SHOULD DECLINE TO 356,000 FROM 366,00 A WEEK BEFORE.IN ADDITION, THE INSTITUTE FOR SUPPLY MANAGEMENT WILL PUT OUT ITS MARCH SURVEY OF THE SERVICES SECTOR AT 10 A.M. THAT POLL IS EXPECTED TO PRODUCE A HEADLINE READING OF 50.1, WHICH WOULD REPRESENT AN IMPROVEMENT OVER 49.3 IN FEBRUARY. ALL READINGS OVER 50 INDICATE EXPANSION SO THE PROJECTED RESULT WOULD INDICATE THAT THE SERVICES SECTOR HAS BEGUN TO GROW AGAIN.THE FUTURES CONTRACT FOR THE DOW JONES INDUSTRIAL AVERAGE FELL 29 POINTS, OR 0.2 PERCENT, TO 12,590. FUTURES CO. TOKYO'S NIKKEI INDEX CLOSED 1.52 PERCENT HIGHER. THERE WERE LIGHT LOSSES ON EUROPEAN BOURSES, WITH LONDON'S FTSE FALLING 0.15 PERCENT, FRANKFURT'S DAX DROPPING 0.40 PERCENT AND PARIS' CAC 40 LOSING 0.30 PERCENT. MKT EXPECTATION INFLATION ABV 7.00 BUT IF IT IS COME BELOWE 7.00 THN MKT SHOOT UPP........AND IF COME ABV 7 THN IT IS AS PER EXPECTATION............. MONDAY MKT WILL DOWN MORE THN 1200 POINTS...ABHI SE BTA DIYA HE BADME BOLNA MAT KI BTAYA NHI THA....KHARAB KHARAB NEWS HAI KYA KARE....BE CAUTION DONY BUY..DONT TAKE NEW OSITION. THE WHOLESALE PRICE BASED INFLATION RATE TOUCHED A THREE- YEAR HIGH OF 7% FOR THE WEEK ENDED MARCH 22 AS AGAINST 6.68% IN THE PREVIOUS WEEK. IT STOOD AT 6.54% IN THE CORRESPONDING WEEK PREVIOUS YEAR.THIS IS LIKELY TO SPUR MORE INITIATIVES FROM THE GOVERNMENT TO CURB INFLATION.