Monday, October 29, 2007

DAILY REPORT FOR 29 OCTOBER, 2007

NIFTY: - Open 5564High 5716 Low 5513 Close 5702 (+134 points)

P/E 25.57 P/B 5.96 Adv 41 Dec 9

Supp 5640/5570/5500 Res 5740/5830/5880

SENSEX: - Open 18823 High 19276 Low 18629 Close 19243 (+472 pts)

Supp 19180/19000/18820 Res 19500/19970/20450

Capital Goods, Auto and Banks lead:-

· After initial hesitation bulls snatched the control and consistent buying was seen the whole day. L&T and SBI were the stars in the Nifty.

· Volumes were lower - Rs 19967 Cr in spot market and F&O Vol at Rs 73836 Cr.

· Breadth was very good – BSE Adv 1814 Dec 1159 Unch 84 NSE Adv 725 Dec 368 Unch 28

· FIIs sold Indian Equity despite a good rally. They sold Rs 1237 Cr in Cash market. But DIIs were buyers to the tune of Rs 965 Cr. Foreign Investors sold Index futures worth Rs 1600 Cr. They sold in Stock Futures too worth Rs 487 Cr. This means they must be hedging their delivery exposure.

Top Gainers: - Tata Steel, Nalco, VSNL, Ster Inds, BPCL

Top Losers: - Cipla, Dr Reddy, ACC, ABB, Zee Enter

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

Outlook for Monday:-

· After correcting heavily last week, we have recovered the whole distance as Sensex gave a new all time high closing on Friday. Nifty is yet to do that feat as its all time high sits at 5736.

· P Chidambaram, the Finance Minister of India has talked about controlling capital inflows into India on Friday and that statement has to be taken a bit cautiously.

· This week is characterized by 2 major events. One is the RBI Credit Policy on Tuesday and the other is the Fed meeting on Wednesday. 5450-5500 should be considered as a good weekly support in case of any decline. One is advised to be light on positions for some time.

· 5640 should be considered as intraday support for the Nifty and we can see 5830 and 5880 once we cross previous high around 5740.

· CAIRN (204):- The stock can target 240-250 levels in 15 days time. Buy with SL of 192.

Results today – ABG Shipyard, Adani Enter, Aegis Log, Akruti Nirman, Apollo Sindh, Asian Granito, BoI, BHEL, CBoP, CCCL, Core Proj, Dhanalax Bank, Easun Reyrl, EID Parry, Electrosteel, FirstSource Sol, Fortis Health, Genus Power, GMR Ind, GMDC, Hanung Toy, HDFC, Hi-tech Gear, Hinduja TMT, House of Pearl, HPCL, ICRA, Ind-swift Labs, Indiabulls Real Estate, Info Edge, IOB, Ipca Lab, ITI, Jagran, JP Hydro, Jet Air, Jindal Steel, JM Fin, Kalpataru Power, Karur Vysya, Kaveri Seed, Kernex Micro, Lakshmi Machine, Lumax Auto, Mah and Mah, Malu Paper, Manali Petro, Maruti Suzuki, Max, McDowell, Midday Multi, Monsanto, Mphasis, MRPL, Mukand, NCL Ind, Neocure Therap, Nirma, Omax Auto, OBC, Oudh Sugar, PNB, RPG Cab, Samtel Col, Simplex Infra, SMS Pharma, Sobha Dev, SREI Infra, Sterlite Ind, Surya Roshni, Sutlej Tex, Take Sol, Tata Tea, Time Techno, Torrent Power, Uniphos Enter, United Phos, VIP, Vishal Ret, Voltamp Trans, VST, Zodiac Cloth


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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