Friday, October 05, 2007


: - Open 5211 High 5233 Low 5126 Close 5208 (-2 points)

P/E 23.43 P/B 5.56 Adv 21 Dec 29

Supp 5180/5140/5120 Res 5235/5260/5290

SENSEX: - Open 17799 High 17890 Low 17494 Close 17777 (-69 pts)

Supp 17700/17550/17320 Res 17930/18015/18120

A breather:-

· Flat opening was followed by sharp selling in Reliance and SBI. But once again Tech stocks and some buying in Reliance saved us from a sharp fall. Power stocks gained for the 3rd consecutive day.

· Volumes were at Rs 18592 Cr in spot market and F&O Vol at Rs 69313 Cr.

· Breadth remained negative – BSE Adv 1291 Dec 1687 Unch 60 NSE Adv 408 Dec 666 Unch 38

· FIIs bought Rs 457 Cr in Cash Market. Domestic Institutional Investors sold Rs 663 Cr. In Derivatives market, FIIs sold Rs 1264 Cr in Index Fut and sold Rs 1156 Cr in Stock Futures. They bought Rs 469 Cr in Index Options.

· Capital Goods too participated. APIL, Areva, BEML, Havells, Siemens were up more than 4% each.

Top Gainers: - Suzlon, NTPC, Siemens, ABB, Tata Steel

Top Losers: - ONGC, HDFC, Tata Power, VSNL, Sterlite Inds

Indian ADRs: -

Outlook for Friday:-

· Yesterday’s movement was good consolidation and today we have to see if we can reach 18000 on the Sensex.

· 4180 is a good support for the Nifty intraday and we can test 5260 on the upside. Stock-specific movement should continue.

· Patel Engg, 3I Infotech, Havells, GDL look good on graph and can target higher levels from here.

· M&M (758):- The stock can target 840-850 levels. Buy with SL at 733.

· ITC (185):- Buy for target of 198-201. Short-term players can keep SL at 179 (Closing basis)

(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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