DAILY REPORT FOR
NIFTY: - Open 5913 High 5948 Low 5817 Close 5906 (-6 points)
P/E 25.86 P/B 6.20 Adv 31 Dec 19
Supp 5890/5850/5790 Res 5975/6025/6110
SENSEX: - Open 19603 High 19838 Low 19472 Close 19698 (-86 pts)
Supp 19330/19200/18900 Res 19850/20000/20240
Positive breadth but indices calm:-
· Indices remained sideways the whole day and Sensex closed 86 points down. ITC was the top performer.
· Volumes were lower - Rs 19003 Cr in spot market and F&O Vol at Rs 61505 Cr.
· Breadth was quite good – BSE Adv 2018 Dec 988 Unch 59 NSE Adv 704 Dec 408 Unch 22
· FIIs sold Rs 363 Cr in cash market. They sold in Derivatives market too worth Rs 896 Cr. DIIs bought Rs 239 Cr in spot market.
· Major Open Interest change: - BILT (32%), Escorts (26%), Essar Oil (45%), GAIL (20%), GDL (14%), Gesco (17%), Hinduja TMT (20%), Hotel Leela (23%), IDFC (30%), Ind Hotel (20%), ITC (24%), PFC (18%), Tata Tea (24%), Titan (14%), Bongaigaon (-53%), Cummins (-13%), JP Hydro (-9%)
Total OI 103046 Cr (+2213 Cr) PCR at 1.19
Top Gainers: - ITC, Grasim, Hind Petro, VSNL, Dr Reddy
Top Losers: - Hindalco, Nalco, Ranbaxy, LT, HCL Tech
Indian ADRs: - http://tinyurl.com/33m7dx
Outlook for Monday:-
· Nifty has not been able to cross 6000 even after good rally last week. But we are not breaking down also. 5770-5790 is good support.
· Reliance, SBI and ONGC have given good weekly gains and if they can perform, we can easily see higher levels on the indices too. But stock-specific movement is seen many stocks as index-heavyweights take a breather.
· As breadth is getting stronger day-by-day, many small and mid-cap stocks too are performing. Many stocks are not worth for rallies but they do just because of sentiment. Investors need to check the company fundamentals and take an informed decision.
· GDL (133) and Patni Comp (312) look good on graph and should be bought for investment.
· NDTV (363):- Buy for target 410-420 SL 345
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.