Thursday, November 15, 2007


NIFTY: - Open 5703 High 5950 Low 5700 Close 5937 (+242 points)

P/E 25.98 P/B 6.22 Adv 49 Dec 1

Supp 5860/5790/5700 Res 5975/6025/6110

SENSEX: - Open 19336 High 19987 Low 19336 Close 19929 (+893 pts)

Supp 19750/19580/19330 Res 20000/20240/20460

Everything rallies:-

· Opening was gap-up on strong global cues and consistent buying was seen the whole day. Just 1 stock – RPL was down among the 50 stocks in Nifty.

· Volumes were higher - Rs 20726 Cr in spot market and F&O Vol at Rs 68270 Cr.

· Breadth was very positive – BSE Adv 2135 Dec 852 Unch 78 NSE Adv 841 Dec 266 Unch 22

· Foreign investors were buyers in cash market Rs 163 Cr and domestic investors too bought Rs 567 Cr. In F&O, FIIs bought index fut worth Rs 2058 Cr and sold stock fut worth Rs 264 Cr.

· Major Open Interest change: - NftyMidCap(49%), APIL(21%), IVRCL Infra(21%), GAIL(19%), MahSeamless(17%), Federal Bank (16%), IOC(16%), PFC(16%), MRPL(15%), BankNifty(-19%), BEML(-17%), EssarOil(-16%), CESC(-14%), Powergrid(-12%)

Total OI 99248 Cr (+3%) PCR at 1.21

Top Gainers: - Nalco, HDFC Bank, PNB, ICICI Bank, VSNL

Top Losers: - RPL

Indian ADRs: -

Outlook for Thursday:-

· Indices may remain sideways today after breathtaking rally yesterday. 20238 and 6012 are previous all time highs are in touching distance for both the Sensex and the Nifty.

· Market has become quite stock-specific and today also it is expected that way. Mid and Small cap stocks should also perform.

· 5860 should be considered a good support for intraday in Nifty.

· Harrison Mallyalam (86):- The stock can target 103-107 in short term. Buy with 78 as SL.

SEBI board nod for new derivative instruments

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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