TANMAY OBSERVES!

DAILY REPORT FOR 24 OCTOBER, 2007

NIFTY: - Open 5185 High 5488 Low 5176 Close 5473 (+289 points)

P/E 24.53 P/B 5.72 Adv 45 Dec 5

Supp 5380/5330/5275 Res 5500/5590/5670

SENSEX: - Open 17910 High 18542 Low 17910 Close 18492 (+878 pts)

Supp 18300/18150/18000 Res 18550/18860/19200

Big rally:-

· Consistent buying was seen whole day especially in banking and capital goods stocks to take the Sensex up more than 900 points intraday.

· Volumes were good - Rs 17657 Cr in spot market and F&O Vol at Rs 97393 Cr.

· Breadth was fantastic for a bullish day – BSE Adv 2223 Dec 762 Unch 88 NSE Adv 914 Dec 176 Unch 31

· FIIs bought Rs 390 Cr in Spot Market. Domestic Institutions bought Rs 37 Cr Equity. FIIs were buyers in Index F&O Rs 2329 Cr. They sold Stock Fut worth Rs 205 Cr.

Top Gainers: - BHEL, Rel Energy, SAIL, Unitech, NTPC

Top Losers: - HCL Tech, Ambuja Cem, TCS, Wipro, Infosys

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

Outlook for Wednesday:-

· US Markets are positive with all Indian ADRs gaining. Major gainers were Satyam 12%, VSNL and HDFC Bank 7% each.

· The upward momentum should continue. 5590 and 5670 are levels that need to be achieved as quickly as possible. A flat day in a day or two will mean some weakness in days to come.

· 5380 is nearest support for the day and that means intraday corrections, if they occur can be large.

· Indraprastha Gas (123):- Buy for target 142-146.

· Sobha Dev (922):- The stock can target 1020-1030. Buy with SL of 890.

(Keep SL in short-term trades)

Results today – 3I Infotech, Allied Dig, Bank of Mah, Blue Star, Castrol, Cipla, Dabur India, DCM Shriram Cons, DCW, Dishman Pharma, Dr Reddy, Eastern Silk, Geodesic, GIC Hsg Fin, Guj Amb Exp, Guj Gas, GIPCL, Hind Mot, Hotel Leela, JBF, JK Lakshmi Cem, Krebs Bio, Lupin, Mah Ugine, Marico, Merc Line, Mys Cem, Navneet, Nitco Tiles, NRC, Opto Circ, Page Inds, Sadbhav, Sakthi Sug, Sun TV, Teledata, Tourism Fin, TVS Mot, Uco Bank, Union Bank, Viceroy Hot, Vijaya Bank

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.