Thursday, October 25, 2007


NIFTY: - Open 5477 High 5577 Low 5419 Close 5496 (+23 points)

P/E 24.66 P/B 5.75 Adv 25 Dec 25

Supp 5380/5320/5260 Res 5520/5580/5670

SENSEX: - Open 18727 High 18832 Low 18317 Close 18512 (+20 pts)

Supp 18320/18200/18000 Res 18560/18850/19200

Flat day:-

· Indices did see-saw whole day and closed with a small gains of 20 points on the Sensex. Suzlon was the star of the day with 10% gains.

· Volumes were higher - Rs 19787 Cr in spot market and F&O Vol at Rs 107495 Cr.

· Breadth was positive – BSE Adv 1693 Dec 1294 Unch 67 NSE Adv 586 Dec 492 Unch 43

· Both FIIs and Domestic Institutional Investors were buyers in spot market. FIIs bought Rs 1301 Cr and DII bought Rs 383 Cr Equity. FIIs were sellers in Index Fut Rs 1501 Cr and buyers in Index Opt Rs 249 Cr. They sold stock fut worth Rs 361 Cr.

Top Gainers: - Suzlon, Rel Energy, RPL, SBI, Tata Power

Top Losers: - GAIL, ONGC, Tata Motors, Hero Honda, Infosys

Indian ADRs: -

Outlook for Thursday:-

· We could not hold on to the gains yesterday and closed flat. So today can be a negative day also. 5380 should work as a good support for the Nifty and a correction around that is not ruled out. Resistance for today is 5580 and 5670. ONGC and Reliance can determine the trend of the market and they should be watched today.

· SEBI is to announce decision on P-Notes today. So the street will watch what the regulator has to say. Any negative surprise there can lead to a good correction in markets.

· One needs to be very stock-specific at this point of time and should avoid big leveraged positions.

· Sun Pharma (996):- Buy for target of 1075-1090. Keep SL at 1060.

(Keep SL in short-term trades)

Results today – ABB, ACE, Alfa Laval, Alps Inds, Autoline Ind, Ballarpur Ind, BHEL, Bank of Rajasthan, Cairn, Century, Century Enka, Chambal Fert, Cranes Soft, Cummins, Datamatics Tech, DS Kulkarni, Elecon Eng, Euro Cera, Everest Ind, FAG Bearings, Federal Bank, Gillette India, GSPL, Hitachi Home, HOV Serv, Hyderabad Ind, Idea Cell, ING Vysya Bank, JK Paper, Liberty Shoe, M&M Fin, Motherson Sumi, Munjal Showa, Natco Pharma, Nicholas Pira, NIIT, NIIT Tech, NOCIL, Peninsula, PFocus, RCF, Redington, Rel Cap, Sagar Cem, Shrenuj, STFC, SRF, Sun Pharma, Tata Coffee, Tata Inv Corp, UTV, Voltas, Zuari Inds

Market keeps date with SEBI for final word on P-notes issue

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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