Monday, August 27, 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 1st 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: -

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.

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