Tuesday, August 14, 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.

No comments: