DAILY REPORT FOR
NIFTY: - Open 5617 High 5725 Low 5612 Close 5634 (+17 points)
P/E 24.65 P/B 5.91 Adv 22 Dec 28
Supp 5590/5535/5510 Res 5695/5770/5910
SENSEX: - Open 19290 High 19297 Low 18930 Close 19003 (+64 pts)
Supp 18770/18630/18300 Res 19100/19370/19840
F&O Roller coaster:-
· Opening was strong on firm global markets but derivative expiry weighed down on the indices and Sensex closed up by 64 points. RPL was a solid gainer.
· Volumes had to be big - Rs 23732 Cr in spot market and F&O Vol at Rs 98225 Cr.
· Breadth was negative – BSE Adv 1317 Dec 1468 Unch 72 NSE Adv 481 Dec 674 Unch 23
· FIIs sold Rs 1112 Cr in cash market and DIIs bought Rs 606 Cr. FIIs bought total Rs 1977 Cr in stock and index futures.
· Total OI 76357 Cr PCR at 1.44
Top Gainers: - RPL, Hero Honda, VSNL, HDFC Bank, ICICI Bank
Top Losers: - Glaxo, Zee Enter, MTNL, Ranbaxy, RCom
Indian ADRs: - http://tinyurl.com/33m7dx
Outlook for Friday:-
· Today can be an important day for the markets as F&O pressure will not be present and market-players can look at the positions afresh.
· Markets to open firm on good Asian markets. Yesterday was just a consolidation even though we got sold off in late trade. Stock-centered action will be seen as NAV-propping is possible because of month-end.
· We are in a range on the Sensex i.e. between 18800 and 19370. Breakout in any direction will give strong move and decide the trend.
· On the Nifty, break of 5590 support can create room for further selling and we may again test lows below 5400. As long as 5590 is not broken, we should be bullish.
· GDP figures are expected to come out today and reports say that they are going to be somewhat negative. This rally is fully based on liquidity which can dry out when economy numbers are not encouraging.
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.