DAILY REPORT FOR 5 DECEMBER, 2006
Supp 3988/3974/3960 Res 4016/4028/4035
SENSEX: - Open 13847 High 13913 Low 13829 Close 13874
Supp 13825/13780/13740 Res 13920/13960/13995
What happened on Monday:-
Markets opened firm but stayed almost sideways the whole day for lack of strong buying in heavyweight stocks. Finally we finished 29 pts up on Sensex. There were some smart movers like Tata Motors, ACC. They gained 4 % each. Other major gainers on Nifty were PNB, L&T and BHEL. Jet Airways, HDFC Bank, Satyam computers lost some ground. We closed above 4000 for the first time ever in Nifty.
What shall we witness on Tuesday:-
Index heavyweight stocks like Reliance and SBI didn’t see much activity yesterday and that is why we saw markets trading in a narrow range. Global Cues are good.
Where’s the money:-
Dishman Pharma(231):- The stock breaks out above 235 and can target 260-265 in 3-4 days. Support exists at 228.
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.