Friday, September 21, 2007


NIFTY: - Open 4734 High 4760 Low 4721 Close 4747 (+15 points)

P/E 21.49 P/B 5.29 Adv 27 Dec 22 Unch 1

Supp 4720/4700/4670 Res 4765/4786/4810

SENSEX: - Open 16341 High 16415 Low 16261 Close 16347 (+25 pts)

Supp 16250/16180/16050 Res 16420/16490/16560

Real estate zooms:-

· It was a very calm day for the indices as Sensex moved between just 150 points after a 650 pt rally on Wednesday.

· Volumes were very good at Rs 14770 Cr in spot market and F&O Vol Rs 58327 Cr.

· Breadth was on the negative side– BSE Adv 1319 Dec 1652 Unch 60 NSE Adv 435 Dec 632 Unch 38

· FIIs bought Rs 1627 Cr Equity in Cash Market, Domestic Institutions Net Sellers Rs 564 Cr; FIIs bought Rs 425 Cr in Index and sold Rs 115 cr in Stock futures.

· Real Estate stocks gained quite a bit. DLF rallied 5%, Indiabulls Real Estate and Unitech were up 9% and 12% respectively. Tech stocks were down as Rupee hit a fresh high against the US Dollar. Wipro, Tech Mah, Infosys, Patni and HCL Tech were all down.

Top Gainers: - Hind Petro, Rel Energy, Siemens, M&M, BPCL

Top Losers: - Wipro, HCL Tech, Infosys, GAIL, TCS

Indian ADRs: -

Outlook for Friday:-

· We have gained nearly 250 points on the Nifty in just 3 trading sessions, FII money has again started flowing in. But breadth is not very positive.

· We may consolidate near current levels. 4780 to 4710 may be the range for the Nifty today.

· IVRCL Infra (413):- The stock can target 460-470 levels in short term.

(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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