Wednesday, October 31, 2007


NIFTY: - Open 5917 High 5976 Low 5833 Close 5868 (-37 points)

P/E 26.01 P/B 6.15 Adv 17 Dec 33

Supp 5830/5740/5625 Res 5890/5930/5980

SENSEX: - Open 20103 High 20238 Low 19694 Close 19783 (-194 pts)

Supp 19700/19560/19200 Res 20030/20240/20450

CRR hike dampens sentiment:-

· It was a volatile day of trade but Banks and Auto stocks got sold off after RBI hiked CRR by 50 bps. Finally we closed 194 points down on the Sensex.

· Volumes were decent - Rs 24636 Cr in spot market and F&O Vol at Rs 89601 Cr.

· Breadth was a concern – BSE Adv 1218 Dec 1757 Unch 83 NSE Adv 360 Dec 728 Unch 33

· Foreign and Domestic investors both sold Indian Equity worth Rs 566 Cr. FIIs continue to hedge as they sold Rs 561 Cr worth Stock and Index Futures.

Top Gainers: - Sterlite Inds, ABB, RPL, Rel Energy, Siemens

Top Losers: - Maruti, M&M, SAIL, PNB, Tata Motors

Indian ADRs: -

Outlook for Wednesday:-

· US Fed meeting has started yesterday and today night its decision will come out on whether interest rates will be cut or not. Last time when Fed cut the rates, we saw a massive rally in our markets.

· Earnings season is coming to end and most of the growth has been discounted by the market already.

· N-Deal is still an uncertainty as Congress and Left are yet to decide on the issue.

· A correction until 19200-19300 is possible for the Sensex and it can come intraday also.

· 19560 should provide a good support and until that is broken, we will remain ranged between 20100 and 19600.

· Though Sensex has traded above 20000 for a lot of times intraday, it has not been able to close above it. A closing above 20000 can be positive as far as strength of the rally is concerned. We have to see if a Fed rate cut can make it happen. 6000 on the Nifty is also awaited eagerly.

· APIL, ACC, India Cem are some of the weaker stocks in the market and they can touch lower levels.

· ACE (412):- Buy this stock as it can achieve 450-460 levels in 3-4 days time.

(Keep SL in short-term trades)

Results today – 3M India, Aarti Inds, Aditya Birla Nuvo, Aftek, Agro Dutch Ind, Ahmednagar Forg, AIA Engg, Alok Inds, Amar Remedies, Amtek India, Ankur Drug, Ansal Hsg, Ansal Prop, Aptech, Archies, Ashtavinayak, Assam Co, Astra Micro, Atlas Cycle, Auro Pharma, Axis IT&T, BAG Films, Bank Of Baroda, Berger Paints, Bharti Airtel, Birla Corp, Birla VXL, Blue Star Info, Bombay Dyeing, BPCL, BSEL Infra, Cambridge Tech, Canara Bank, Celebrity Fashion, Central Bank, CESC, Cinemax, Cosmo Films, DCB, Deccan Aviation, Elgi Tread, Emami, ESS DEE, Essar Oil, Essar Steel, Eurotex, Eveready Ind, Financial Tech, Ganesh Hsg, GBN, Glenmark, GTN Tex, Guj Sidhee Cem, Hanil Era Tex, Harrisons Malay, HFCL, Hindalco, HMT, HTMT Global, HUL, Hyd Ind, Indoco Rem, IOL Broadband, Ispat Ind, IVP, IVR Prime, IVRCL Infra, Jayshree Tea, K Sera Sera, KEC Int, KEI Inds, Kinetic Motor, Liberty Shoes, Lloyds Steel, Lyka Lab, Mangalore Chem, Mcleod Russ, Mcnally Bh Engg, Media Video, MTNL, Nagarjuna Const, Neyveli Lig, Oswal Chem, Padmalaya Tele, Patni Comp, Petron Eng, Phillips Carbon, Power Grid Corp, Prithvi Info, Punj Lloyd, Rana Sug, Rajshree Sug, RCom, RS Soft, RSWM, Ruchi Soya, Sabero Org, SAL Steel, Shriram City, Shyam Tele, Siyaram Silk, STC India, Subhash Proj, Sunflag Iron, Sunil HiTech, Suryalakshmi Cott, Taj GVK Hotel, Talbros Auto, Tamil Tele, Tata Mot, Trigyn Tech, Tube Inv, TV18, Uniply, United Spir, Usha Martin, Vaibhav Gem, Venkeys, Videocon Inds, Visa Steel, Vivimed Lab, VSNL, Wanbury, WS Inds, XL Tele, Zenith Birla

RBI hikes CRR

Infosys pursuing $1,500 mn plus bills overseas

US mounts pressure, Pranab turns to Left

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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