Tuesday, December 05, 2006


NIFTY: - Open 4001 High 4033 Low 4001 Close 4016

Supp 4000/3980/3962 Res 4035/4050/4066

SENSEX: - Open 14028 High 14028 Low 13906 Close 13938

Supp 13880/13830/13760 Res 13995/14070/14144

What happened on Tuesday:-

Markets opened very strong on positive global cues and remained in the green the whole day. Sensex touched the psychological mark and a milestone 14000 yesterday first time in the history of Indian Stock markets. TISCO did very well yesterday with a 5% gain. Other gainers were Jet Airways, RCOM and IPCL. Zee Telefilms lost more than 3%. Tata power, Guj Amb Cem were other losers on Nifty.

What shall we witness on Wednesday:-

The rally should continue as long as we remain above 4000. Metal stocks look interesting. Nalco, SAIL, TISCO can give good returns in short term.

Where’s the money:-

Tisco(493):- The stock has lowest P/E in Sensex stocks. Some serious value buying must have emerged during yesterday’s trading. On charts also the stock looks good. It can be bought for target around 550-560 in short term. Investors looking for value can also buy.

Hind Petro(291):- The stock should target 310-315 levels in next 4-5 trading sessions. SL can be kept around 280.

Thermax(393):- It looks like this stock has broken out on charts. It can target 425-440 levels. SL can be kept around 369.

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.

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