DAILY REPORT FOR
NIFTY: - Open 5703 High 5794 Low 5614 Close 5663 (-35 points)
P/E 24.92 P/B 5.97 Adv 14 Dec 35 Unch 1
Supp 5545/5500/5430 Res 5715/5790/5840
SENSEX: - Open 19282 High 19329 Low 18737 Close 18907 (-151 pts)
Supp 18470/18300/17900 Res 19000/19250/19340
First negative closing on a Muhurat Day in 7 years:-
· Sensex zoomed more than 200 points in first 10 minutes of trade but there was no buying support afterwards even if it was an auspicious day. Finally Sensex closed down by 151 points.
Top Gainers: - Hind Petro, BPCL, Suzlon, RPL, RCom
Top Losers: - Wipro, Sun Pharma, ACC, ICICI Bank, Bharti Airtel
Indian ADRs: - http://tinyurl.com/33m7dx
Outlook for Monday:-
· So far markets have been correcting slowly and higher levels are not sustaining. Now with global markets weakening, steeper correction may set in. Margin pressures will add fuel to the fire.
· Nifty has good support at 5470-5500 levels and that can be tested in a day or two.
Wockhardt to hive-off innovative R&D business http://economictimes.indiatimes.com/Wockhardt_to_hive_off_innovative_RD_business/articleshow/2533966.cms
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.