Tuesday, September 25, 2007


NIFTY: - Open 4837 High 4941 Low 4837 Close 4932 (+94 points)

P/E 22.18 P/B 5.26 Adv 37 Dec 13

Supp 4900/4865/4835 Res 4950/4975/5005

SENSEX: - Open 16697 High 16869 Low 16599 Close 16845 (+281 pts)

Supp 16770/16670/16600 Res 16880/16940/17050

Bulls in total control:-

· Auto, Oil and Gas, Banking, Capital Goods, Real estate all worked in unison to take Sensex near 17000 and Nifty near 5000 levels. Reliance group stocks again did the magic.

· Volumes were massive at Rs 18831 Cr in spot market and F&O Vol Rs 79397 Cr.

· Breadth was negative but better than Friday– BSE Adv 1417 Dec 1550 Unch 65 NSE Adv 521 Dec 565 Unch 21

· FIIs bought Rs 1190 Cr Equity in Cash Market, Domestic Institutions Net Sellers Rs 670 Cr; FIIs bought Rs 481 Cr in Index and sold Rs 237 Cr in Stock futures.

Top Gainers: - REL, RPL, GAIL, Tata Power, Maruti

Top Losers: - Infosys, Sun Pharma, Satyam Comp, Glaxo, ITC

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

Outlook for Tuesday:-

· 16770 is the support for the Sensex and we can see higher levels as long as we maintain above that. A move below that and things can get volatile as expiry is just 2 days away.

· Castrol (261):- Buy for target of 285-290 in short term

· Natco Pharma (114.85):- The stock can target 132-136 in days to come. Keep SL at 107.

· Sun-outage closure starts from today and such times are normally very sluggish for the markets. Usually traders find it difficult to concentrate on trading positions.

(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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