DAILY REPORT FOR 31 AUGUST, 2007

NIFTY: - Open 4360 High 4422 Low 4359 Close 4412 (+53 pts)

P/E 19.96 P/B 5.02 Adv 40 Dec 10

Supp 4385/4360/4325 Res 4432/4455/4470

SENSEX: - Open 15168 High 15200 Low 15053 Close 15121 (+128 pts)

Supp 15035/14960/14820 Res 15200/15240/15350

Rally on expiry:-

· Sensex opened gap-up by 176 points but gains were lost in mid-trade as we touched 15053. Finally we could close up by 128 points

· Volumes were higher at Rs 15126 Cr in spot market. F&O Vol Rs 71282 Cr

· Breadth too was positive - NSE Adv 654 Dec 402 Unch 37 BSE Adv 1744 Dec 1190 Unch 82

· FIIs Net Sellers Rs 563 Cr in Cash Market, Domestic Institutions Net Buyers Rs 352 Cr, FIIs bought Rs 201 Cr in Index Fut and sold Rs 53 Cr in Stock Fut.

· Cement stocks like ACC, Grasim gained some ground. Auto index too performed as Tata Motors, Maruti, M&M saw good buying.

Top Gainers: - VSNL, Glaxo, Ster Ind, Siemens, M&M

Top Losers: - Nalco, Cipla, REL, GAIL, Hind Petro

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Friday:-

· Markets to open positive on strong Asian markets but we may remain range-bound as long as 15240 is not crossed on the Sensex.

· RBI has said that inflation concerns persist because of high global commodity prices and capital flows. Those numbers will be out today.

· Pharmaceutical stocks like Dr Reddy, Auro Pharma and Ranbaxy look positive. Ranbaxy can target 430-440 levels.

· The market has become very stock-specific. Accumulating good stocks in times of crash will help investors in the long run. Short term players should keep churning their portfolios by booking profits at regular intervals.

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.

DAILY REPORT FOR 30 AUGUST, 2007

NIFTY: - Open 4317 High 4369 Low 4226 Close 4359 (+39 pts)

P/E 19.72 P/B 4.96 Adv 32 Dec 17 Unch 1

Supp 4328/4310/4280 Res 4380/4402/4430

SENSEX: - Open 14651 High 15029 Low 14592 Close 14993 (+73 pts)

Supp 14950/14890/14775 Res 15070/15180/15240

India shrugs off global worries:-

· Markets opened lower on weak global sentiment as Sensex was down 327 points in early trade. But buying emerged slowly in Metal and Oil stocks to take us towards a positive closing

· Volumes were higher at Rs 10766 Cr in spot market. F&O Vol Rs 76510 Cr

· Breadth too was positive - NSE Adv 612 Dec 443 Unch 38 BSE Adv 1661 Dec 1275 Unch 80

· FIIs Net Sellers Rs 163 Cr in Cash Market, Domestic Institutions Net Buyers Rs 65 Cr, FIIs bought Rs 76 Cr in Index Fut and sold Rs 319 Cr in Stock Fut.

· Metal stocks zoomed as Tata Steel announced six-fold jump in earnings after acquisition of Corus. The BSE Metal index was up more than 4%

· Oil stocks were among top gainers as the Fin Min agreed to share a third of the revenue loss that state-run oil firms incur on sale of fuel.

· Telecom stocks were down in reaction to the latest recommendations by Telecom Regulatory Authority of India regarding spectrum charges and M&A norms.

· Sugar stocks rally as government has offered sops to that sector.

Top Gainers: - Tata Steel, SAIL, GAIL, BPCL, ONGC

Top Losers: - Infosys, Siemens, PNB, Satyam Comp, HDFC

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Thursday:-

· Today is F&O expiry and short covering can take the indices higher.

· 4310 is support for today and as we have crossed 4330, we can target 4390-4400 levels intraday on the Nifty.

· American markets recuperated almost all the losses of Tuesday. Dow ends up 247 points. Asian markets follow the gains from USA

· Cement stocks should rally as imported cement is not going to affect much to their financials. India Cem can target 270-275.

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.

DAILY REPORT FOR 29 AUGUST, 2007

NIFTY: - Open 4302 High 4329 Low 4280 Close 4320 (+18 pts)

P/E 19.55 P/B 4.92 Adv 27 Dec 22 Unch 1

Supp 4275/4245/4200 Res 4330/4365/4395

SENSEX: - Open 14857 High 14952 Low 14751 Close 14919 (+76 pts)

Supp 14870/14750/14550 Res 14970/15070/15200

What happened on Tuesday:-

· After a massive rally on Monday, Sensex opened up marginally and fluctuated in the range of 200 points intraday. Finally both the Sensex and the Nifty closed in the positive territory as Reliance gained more than 2%.

· FIIs Net Buyers Rs 390 Cr in Cash Market, Domestic Institutions have turned Net Sellers Rs 79 Cr, FIIs sold Rs 171 Cr in Index Fut and bought Rs 15 Cr in Stock Fut.

· Volumes were Rs 9198 Cr in spot market. F&O Vol Rs 57340 Cr

· Breadth was on the positive side- NSE Adv 644 Dec 404 Unch 45 BSE Adv 1715 Dec 1214 Unch 86

· Tech stocks saw a lot of buying interest as Fin Tech was up more than 9%. I-flex also gained 5%. Satyam Comp was the top gainer on the Nifty.

Top Gainers: - Satyam Comp, Hindalco, HDFC Bank, Reliance, HCL Tech

Top Losers: - Suzlon, ICICI Bank, Tata Motors, Zee Enter, Hero Honda

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Wednesday:-

· American markets crashed yesterday night with Fed not confirming about cutting interest rates there, Asian markets too open in negative

· Nifty resistance at 4330-4350 levels must be crossed failing which we can see downside towards 4150-4170.

· Banknifty index looks a bit weak, banks may see some downside.

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.

DAILY REPORT FOR 27 AUGUST, 2007

NIFTY: - Open 4113 High 4201 Low 4110 Close 4190 (+75 pts)

P/E 18.96 P/B 4.77 Adv 39 Dec 11

Supp 4160/4140/4100 Res 4245/4275/4330

SENSEX: - Open 14237 High 14455 Low 14163 Close 14424 (+260 pts)

Supp 14340/14250/14050 Res 14560/14640/14710

Left worries shrugged off for time-being:-

· Markets remained undecided in 1^st hour of trade but bulls took control after that. Consistent buying was seen in Cement and Auto stocks.

· FIIs Net Sellers Rs 274 Cr in Cash Market, Domestic Institutions Net buyers Rs 400 Cr, FIIs sold Rs 657 Cr in Index Fut and bought Rs 177 Cr in Stock Fut.

· Volumes were lower Rs 8133 Cr in spot market. F&O Vol Rs 43336 Cr

· Breadth was negative- NSE Adv 724 Dec 322 Unch 44 BSE Adv 1705 Dec 1246 Unch 62

Top Gainers: - Tata Motors, BHEL, REL, Tata Steel, ACC

Top Losers: - Suzlon, HCL Tech, VSNL, Dabur, Nalco

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Monday:-

· Markets to open positive on strong global cues, Nifty intraday support at 4160

· Ranbaxy, TTML, Akruti Nirman, Kotak Bank, M&M look good on charts

· Nifty not able to cross 4275 and 4330 levels will be negative for markets

· One is advised not to take very aggressive bets as F&O expiry is near and indices should remain range-bound but volatile.

Short-term picks:-

Ranbaxy (360):- The stock can target 430-440 levels. Buy for short term with SL 335. Also one can accumulate the stock as long term investment.

Akruti Nirman (507):- Buy around 488-495 for target 550-560

(Keep SL in short-term trades)

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.

DAILY REPORT FOR 21 AUGUST, 2007

NIFTY: - Open 4109 High 4262 Low 4109 Close 4209 (+101 pts)

P/E 19.04 P/B 4.95 Adv 44 Dec 6

Supp 4188/4160/4130 Res 4245/4275/4330

SENSEX: - Open 14512 High 14680 Low 14407 Close 14427 (+286 pts)

Supp 14400/14320/14230 Res 14500/14605/14710

Banks and Metals strike back, Fertilizers in 5^th gear:-

· Sensex zooms 535 points in early trade but settles only 286 points higher

· FIIs Net Sellers Rs 648 Cr in Cash Market, Domestic Institutions Net buyers Rs 142 Cr, FIIs were buyers in the Derivatives market as they bought Rs 4430 Cr in F&O.

· Fertilizers were in huge demand as Chambal Fert spurted 20%. RCF, GNFC, GSFC, Nagarjuna Fert too gave massive rallies.

· Volumes were lower at Rs 8960 Cr in spot market. F&O Vol Rs 40075 Cr

· Breadth was positive- NSE Adv 854 Dec 263 Unch 14 BSE Adv 1940 Dec 779 Unch 41

Top Gainers: - Suzlon, Sterlite Inds, ICICI Bank, Glaxo, Tata Steel

Top Losers: - Tata Power, Satyam Comp, Infosys, M&M, Wipro

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Tuesday:-

· Markets to open firm and should move sideways. Stock-specific movement can continue.

· The range can be 4190 to 4260

· Still no concrete decision has been made on Nuclear Deal issue as Government still backs it and the Left still oppose it

· Dow Jones recovered from mid-day losses, Asian markets are trading flat

· Ranbaxy, Indraprastha Gas looks good on charts.

· One is advised to take only very short-term trading positions as political uncertainty can be fatal for bulls

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.

DAILY REPORT FOR 20 AUGUST, 2007

NIFTY: - Open 4171 High 4171 Low 4002 Close 4108 (-70 pts)

P/E 18.58 P/B 4.83 Adv 10 Dec 40

Supp 4088/4055/4000 Res 4175/4240/4268

SENSEX: - Open 14309 High 14319 Low 13779 Close 14141 (-216 pts)

Supp 14070/13980/13770 Res 14460/14600/14710

Good recovery from lows:-

· Sensex goes below 14000 but closes above it. Nifty takes support at psychological level of 4000 and closes at 4108, down 70 points.

· FIIs continue to sell in Indian equity markets as they sold Rs 3535 Cr in cash market. Domestic Institutions remained buyers to the tune of Rs 1944 Cr. FIIs were sellers in the Derivatives market too as they sold Rs 1270 Cr in F&O.

· Metals stay in downtrend as Sterlite Inds and Tata Steel were major losers.

· Stocks like Sun Pharma, Siemens bounced from major support levels. Some stocks saw huge buying. Nagarjuna Fert was up 18%, Indus Ind bank and Chambal Fert were up more than 6% each.

· Volumes were monumental at Rs 15287 Cr in spot market. F&O Vol Rs 64879 Cr

· Breadth was negative- NSE Adv 224 Dec 886 Unch 20 BSE Adv 854 Dec 1847 Unch 31

Top Gainers: - Sun Pharma, Siemens, Wipro, IPCL, Dabur

Top Losers: - Sterlite Inds, Hind Petro, Satyam Comp, Tata Steel, GAIL

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Monday:-

· US Markets see massive rally on account of rate cut from the Federal Reserve. Indian ADRs see huge buying as ICICI Bank gains 12%, HDFC Bank and VSNL each up around 8%

· Asian markets trading in big gains

· Markets to open big gap-up on positive global cues but rally looks short-lived at this juncture.

· The political uncertainty between Congress and the Left can make market-players nervous about the economic prospects of this country.

· Cement stocks should perform well in this pullback rally. India Cement shows good upside.

· The bounce-back should take us towards 4320-4350 where resistance can come

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.

DAILY REPORT FOR 17 AUGUST, 2007

NIFTY: - Open 4366 High 4366 Low 4171 Close 4178 (-192 pts)

P/E 18.90 P/B 4.92 Adv 2 Dec 48

Supp 4100/4070/4000 Res 4250/4280/4310

SENSEX: - Open 14585 High 14585 Low 14345 Close 14358 (-642 pts)

Supp 14320/14200/14020 Res 14430/14510/14670

Finally the storm:-

• Sensex crashed and lost 642 points on Thursday
• FIIs fling Indian equities as they sold Rs 3108 Cr in cash market. Domestic Institutions remained buyers to the tune of Rs 1398 Cr. FIIs were sellers in the Derivatives market too as they sold Rs 3348 Cr in F&O.
• Metals lost the most as Tata steel and Sterlite were biggest losers. Just 2 stocks could keep their heads up on the Nifty.
• Some stocks like Bongaigaon Ref, Ispat Industries showed strength and stayed up.
• Volumes were large at Rs 11791 Cr in spot market. F&O Vol Rs 46447 Cr
• Breadth was quite negative- NSE Adv 138 Dec 983 Unch 13 BSE Adv 808 Dec 1894 Unch 39

Top Gainers: - GAIL, NALCO

Top Losers: - Tata Steel, VSNL, Sterlite Inds, Suzlon, Bharti Airtel

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Friday:-

• A dramatic reversal in the Dow as it recovered around 340 points from day-lows on rumours that the Fed may cut interest rates. Indian ADRs were down quite a bit but recovered somewhat in late trade with the rally in Dow Jones
• Asian markets have opened in the negative
• Nifty can go below 4000 levels in this fall but has good support at 4070-4100 and as long as this is sustained, hopes of pullback won’t die.
• The bounce, if happens, will be pretty fast. Cement stocks showed strength yesterday. We have to see if they can lead the bounce-back.
• Rupee slumped 1.5% as investors cut their exposure to India, Tech stocks should see some buying

U.S. Stocks Climb, Led by Banks; S&P 500 Recovers From Drop

http://www.bloomberg.com/apps/news?pid=20601103&sid=aLOVR90.hnKA&refer=us

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.

DAILY REPORT FOR 16 AUGUST, 2007

NIFTY: - Open 4373 High 4394 Low 4354 Close 4370 (-3 pts)

P/E 19.77 P/B 5.14 Adv 24 Dec 26 Vol Rs 7832 Cr

Supp 4300/4240/4100 Res 4400/4429/4460

SENSEX: - Open 15066 High 15069 Low 14964 Close 15000 (-16 pts)

Supp 14750/14500/14370 Res 15070/15180/15340

Lull before the storm:-

The indices closed marginally lower as investors stayed cautious just before the holiday. Oil stocks rose as BPCL, ONGC and Hind Petro were among top Nifty gainers. Stock-specific movement continued but breadth was flat. Volumes were quite low. NTPC and GIPCL rose as Power stocks were in demand.

Adv 574 Dec 531 Unch 29

Top Gainers: - BPCL, ONGC, HDFC Bank, Hindalco, Hind Petro

Top Losers: - HDFC, ACC, Dabur, Grasim, Tata Power

FII trading activity: - Buy Rs 1464.92 Cr Sell Rs 1796.44 Cr Net Sell Rs 331.52 Cr (Provisional for 14 Aug 2007)

Domestic Institutional activity: - Buy Rs 765.69 Sell Rs 456.75 Net Buy Rs 308.94 Cr

(Provisional for 14 Aug 2007)

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Thursday:-

The sub-prime crisis is looming large on the world and it is taking toll on global markets almost everyday now. India is not insulated from global peers and we will be affected with the fall in US markets. Also Left party statement about mid-term elections will make market players somewhat nervous about the political scenario. Our markets are expected to remain under pressure and test lower levels. The fall can be more than 10% on the indices in near term.

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.

DAILY REPORT FOR 14 AUGUST, 2007

NIFTY: - Open 4324 High 4384 Low 4324 Close 4373 (+40 pts)

P/E 19.81 P/B 5.14 Adv 44 Dec 6 Vol Rs 8258 Cr

Supp 4360/4328/4295 Res 4400/4429/4460

SENSEX: - Open 14966 High 15044 Low 14869 Close 15017 (+149 pts)

Supp 14970/14860/14750 Res 15070/15180/15340

A small bounce:-

The Sensex closed above 15000 once again as it bounced back on the back of positive Asian markets. Buying was seen largely in Cement, Auto and FMCG stocks. Volumes were low as large participation was absent. Breadth was quite positive.

Adv 793 Dec 311 Unch 24

Top Gainers: - Tata Power, Hind Uniliver, Cipla, Tata Motors, Maruti

Top Losers: - TCS, Glaxo, Satyam Comp, Infosys, HCL Tech

FII trading activity: - Buy Rs 1593.84 Cr Sell Rs 2153.42 Cr Net Sell Rs 559.58 Cr (Provisional for 13 Aug 2007)

Domestic Institutional activity: - Buy Rs 720.81 Sell Rs 583.05 Net Buy Rs 137.76 Cr

(Provisional for 13 Aug 2007)

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Tuesday:-

14970 (Sensex) and 4360 (Nifty) are good support levels for intraday trading. Below that some correction is expected. The outlook is not very positive but stock-specific movement may continue. Some sectors like Pharma have not yet performed in this rally. Dr Reddy, Aurobindo Pharma, Sun Pharma and Ranbaxy can see some buying. ICICI Bank and SBI look weak on charts. Those can pressurize the indices. But ONGC can give some support.

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.