NIFTY: - Open 4518 High 4547 Low 4500 Close 4509 (-9 pts)
P/E 20.41 P/B 5.14 Adv 14 Dec 36
Supp 4485/4445/4424 Res 4525/4556/4620
SENSEX: - Open 15655 High 15716 Low 15565 Close 15590 (-25 pts)
Supp 15490/15350/15280 Res 15630/15720/15810
Supply from higher levels:-
· Nifty opened firm and hit 4547 in early trade but further buying didn’t materialize. Selling was seen in late trade and we could close down 9 points.
· Volumes were Rs 9980 Cr in spot market. F&O Vol Rs 38666 Cr
· Breadth was mixed - NSE Adv 680 Dec 381 Unch 38 BSE Adv 1809 Dec 1125 Unch 85
· FIIs Net Buyers Rs 384 Cr in Cash Market, Domestic Institutions Net Sellers Rs 99 Cr, FIIs bought Rs 79 Cr in Index Fut and sold Rs 118 Cr in Stock Fut.
· Real estate stocks lost some weight as DLF, Ansal Infra and Unitech were down.
Top Gainers: - Sun Pharma, Hero Honda, Nalco, ONGC, ITC
Top Losers: - Zee Enter, Cipla, Tata Mot, M&M, SAIL
Indian ADRs: - http://tinyurl.com/33m7dx
Outlook for Monday:-
· Our markets are expected to open lower. 4445 and 4424 are supports to watch.
· Markets are confusing many players as both buy/side SL are getting hit. Stock-specific approach should be taken as long as there is a lack of clear direction.
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.