Sunday, December 03, 2006


: - Open 3956 High 4001 Low 3954 Close 3998

Supp 3980/3965/3955 Res 4016/4034/4060

SENSEX: - Open 13730 High 13858 Low 13726 Close 13845

Supp 13800/13750/13670 Res 13895/940/14030

What happened on Friday:-

Markets opened up and there was consistent buying the whole day. Power stocks were major gainers of the day as ABB, Siemens gained above 4% each. Other gainers were Auto stocks. Hero Honda, Tata Motors, Bajaj Auto gained sharply. Top losers on Nifty were SAIL, Grasim, TCS. But they didn’t lose much in value, just fell around 1 % each. The benchmark S&P CNX Nifty touched a historical 4000 mark on Friday.

What shall we witness on Monday:-

In a bull market, you don’t require an analyst and in a bear market, there is no need. When new stocks perform and new sectors participate in rallies, the indices tend to show more strength. Auto stocks underperformed for some days but now they look like catching up. Also power stocks exhibited great strength. Such kind of buying can take Nifty above 4000 this week. Sensex above 14000 is also a possibility.

Where’s the money:-

Bharat Forge(364):- Buy with SL of 357 and target of 375-78.

Tata Chemicals(220):- Buy for short term with SL below 215 and target 238-242.

Tata Tea(726):- Support 720 Buy with SL of 702 and target 753 and 785

TVS Motors(99):- The stock looks good from Investment as well as short term trading perspective. For short term, buy with SL of 95 and target 110-114.

Bajaj Auto(2744):- It looks like the stock can give 100 rupee upside from this level too in next 4-5 days. Buy with Stop Loss as per risk appetite.

Disclaimer: These recommendations are based on the theory of technical analysis and personal observations. This does not claim for profit. I am not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment. I am trying to consider the fundamental validity of stocks as far as possible, but demand and supply affects it with vision variations.

No comments: