Monday, October 01, 2007


NIFTY: - Open 4996 High 5055 Low 4996 Close 5021 (+21 points)

P/E 22.58 P/B 5.36 Adv 30 Dec 19 Unch 1

Supp 4990/4965/4930 Res 5050/5085/5110

SENSEX: - Open 17152 High 17361 Low 17152 Close 17291 (+140 pts)

Supp 17260/17170/17050 Res 17370/17420/17535

Bulls finding it very comfortable:-

· Markets opened strong and remained up the whole day. Metals and Banks surged

· Volumes were lower at Rs 17595 Cr in spot market and F&O Vol Rs 56998 Cr.

· Breadth was positive – BSE Adv 1502 Dec 1457 Unch 74 NSE Adv 595 Dec 483 Unch 31

· FIIs continue to buy Rs 2275 Cr in Cash Market and Domestic Institutional Investors sold Rs 100 Cr. FIIs bought Rs 1202 Cr in Index Fut & Index Options and sold Rs 511 Cr in Stock Futures.

· Sesa Goa and Tata Steel shot up 7%. Hindalco was up 4%. Bank of India rallied 6%. Yes Bank, Union Bank, SBI and Allahabad Bank too saw good gains.

Top Gainers: - Rel Energy, Tata Steel, Zee Enter, Hindalco, Cipla

Top Losers: - Nalco, MTNL, Bharti Airtel, Hind Petro, HCL Tech

Indian ADRs: -

Outlook for Monday:-

· 4990 and 4965 are good supports for the Nifty this week. Below those levels, some correction may happen. On the upside, we can look at 5050 and 5110 as probable resistances.

· 3I Infotech (147):- Buy for target 165-170 SL 140

· Pharmaceutical stocks look like slowly getting out of consolidations and running up. Biocon, Dr Reddy and Aurobindo Pharma show a lot of promise.

· Bank stocks are building a lot of Open Interest and can give good trading opportunities.

(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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