DAILY REPORT FOR
NIFTY: - Open 5612 High 5758 Low 5591 Close 5695 (+78 points)
P/E 24.92 P/B 5.97 Adv 31 Dec 19
Supp 5660/5600/5530 Res 5795/5865/5970
SENSEX: - Open 18681 High 19210 Low 18636 Close 19035 (+298 pts)
Supp 18840/18800/18630 Res 19340/19500/19730
· Indices opened lower but after that bulls took the control as Sensex could close up by 298 points. Power and Banking stocks gained.
· Volumes were good - Rs 19646 Cr in spot market and F&O Vol at Rs 67336 Cr.
· Breadth was negative – BSE Adv 1982 Dec 1001 Unch 82 NSE Adv 748 Dec 355 Unch 26
· FIIs sold Rs 332 Cr in Cash Market whereas DIIs bought Rs 264 Cr. Foreign Investors bought Rs 213 Cr in Index Fut and sold Rs 1447 Cr in Stock Fut.
· Major Open Interest change: - Rolta (41%), Matrix Labs (38%), HCC (34%), Adlabs (32%), Syndi Bank (26%), Yes Bank (26%), APIL (25%), Cairn (17%), Crompton Greaves (16%), M&M (16%), Bongaigaon (-21%), JPHydro (-14%), BankNifty (-14%), Ansal Infra (-13%), Essar Oil (-11%), LT (-10%)
Total OI 96237 Cr (+3%) PCR at 1.16
Top Gainers: - NTPC, MTNL, HDFC Bank, LT, ABB
Top Losers: - Wipro, GAIL, M&M, Hindalco, TCS
Indian ADRs: - http://tinyurl.com/33m7dx
Outlook for Wednesday:-
· Global markets are extremely strong with Dow Jones recovering more than 300 points overnight. Asian markets too are doing very well.
· Our markets to open gap-up on yesterday’s buying and global strength. A closing above 5860 on the Nifty can make the bulls very comfortable. Shorts will be forced to cover and that can take us higher.
· Infosys (1627) and Siemens (1770) are looking good and both can add more than Rs 100 from current levels.
· Gesco Corp (602):- Buy for target of 670-685 in short term.
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.