Monday, November 26, 2007


NIFTY: - Open 5524 High 5638 Low 5514 Close 5608 (+89 points)

P/E 24.53 P/B 5.88 Adv 34 Dec 16

Supp 5580/5515/5475 Res 5690/5760/5800

SENSEX: - Open 18737 High 18910 Low 18548 Close 18852 (+326 pts)

Supp 18750/18550/18400 Res 19080/19300/19470

Bounce back:-

· Indices opened strong and could sustain their gains. Sensex closed up by ….

· Volumes were very dull - Rs 14518 Cr in spot market and F&O Vol at Rs 66744 Cr.

· Breadth was positive – BSE Adv 1862 Dec 1148 Unch 66 NSE Adv 768 Dec 337 Unch 33

· FIIs sold Rs 541 Cr in cash market and DIIs bought Rs 525 Cr. FIIs bought Rs 633 Cr in F&O market.

· Total OI 108118Cr (+3666 Cr) PCR at 0.93

· Nifty Futures OI added 1%. Prem 11.15 (Nov Fut)

· OI Added:- Essar Oil 21%, Neyveli 16%, JP Hydro 15%, CESC 14%, BILT 12%, Central Bank 10%, Grasim 8%

· OI Shed:- Bhusan Steel 11%, Bajaj Auto 9%, Air Deccan 9%, DLF 6%

Top Gainers: - REL, Ster Ind, HCL Tech, NTPC, HDFC

Top Losers: - Hind Petro, Zee Enter, Maruti, HDFC Bank, Nalco

Indian ADRs: -

Outlook for Monday:-

· Friday bounce-back to continue this morning with strong global markets but supply from higher levels not ruled out. 5700 and 5760 can act as good resistance.

· 5580 is intraday support break of which can lead to some correction. Bulls have to maintain it above 5800 consistently but, for now, that task looks difficult.

· Though market is looking not so strong, stock-specific action is going to carry on as long as bounce-back rally is on. Hind Unilever, Tech Mah, Wipro, GDL look nice.

· GDL (133):- The stock is a buy for investment but for short-term too it is looking good. It can target 170 levels in days to come with in-between resistances at 142 and 149. One can keep SL of 125.

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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