REVIA CASH: BUY TATA STEEL ABOVE 286 TGTS 288.3/292/297 SL 283.7

REVIA CASH: TATA STEEL HIT 1ST TARGET 288.3 HIGH OF 289.35 (9977785000) WWW.RESEARCHVIA.COM
                                                ECONOMY ANALYSIS
 India's food subsidy bill 'credit negative': Moody's
 RBI should consider monetising gold 
 RIL wins approval for $3.18 bn plan for R-Series gas field 
 South Indian Bank confident of maintaining NIMs at 3% ahead 
 'Rocky' road ahead for large-deficit India: S&P 
 Need fortnightly review of diesel prices: RS Sharma

                                             MARKET ANALYSIS
 The S&P BSE Sensex rallied 405 points to end above 18,400 while the Nifty closed above intermediate resistance of 5,400 level after rallying nearly 150 points intraday as traders squared 
off short positions on the last day of August series. 

 Oil & gas and rate sensitives such as auto and banks moved higher on the Reserve Bank of India's move to provide forex swap window to meet daily dollar needs of PSU oil marketing companies. 

 The partially convertible rupee was at 67.33, up 147 paise, against its previous close of 68.80 per dollar.

 The S&P BSE Sensex closed at 18,401.04, up 404.89 points or 
2.25 per cent.
                                                 MAJOR INDICES
                                               INDIAN MARKETS
INDEX                     CLOSE                    CHANGE            % CHANGE
SENSEX                   18401.04                  404.89                    2.25
NIFTY                       5409.05                   124.05                     2.35
BANK NIFTY             8904.60                   143.75                     1.64