DAILY REPORT FOR 31 DECEMBER, 2007

NIFTY: - Open 6079 High 6098 Low 6021 Close 6079 (-2 points)

P/E 27.35 P/B 6.33 Adv 29 Dec 21

Supp 6050/6000/5940 Res 6115/6150/6200

SENSEX: - Open 20158 High 20259 Low 20022 Close 20206 (-9 pts)

Supp 20150/20000/19800 Res 20330/20420/20500

Heavy Metal:-

· Nifty moved sideways the whole day and stock-specific movement was seen. Metals, Realty stocks gained.

· Volumes - Rs 17548 Cr in spot market and F&O Vol at Rs 50436 Cr.

· Market Breadth– BSE Adv 2370 Dec 696 Unch 38 NSE Adv 845 Dec 302 Unch 16

· Top Gainers: - Nalco, Unitech, HCL Tech, Tata Steel, SAIL

Top Losers: - Wipro, Bajaj Auto, Idea, TCS, Bharti Airtel

· FIIs bought Rs 653 Cr and DIIs bought Rs 166 Cr in Cash Market. FIIs sold total Rs 1645 Cr in stock and index futures.

· Total OI 108015 Cr (+7229 Cr) PCR at 1.28

· Nifty added 4% OI. Premium 38.6 pts

· OI Added:- BankNifty 9%, Amtek Auto 42%, Aptech 18%, Arvind Mill 25%, Bajaj Auto 23%, Bharti Airtel 13%, CMC 14%, Edelweiss 15%, GDL 10%, Glaxo 10%, Havells 38%, HOEC 19%, Hotel Leela 15%, IndHotel 14%, Ispat Ind 14%, JPHydro 30%, LITL 10%, MahLife 13%, Mico 22%, NagarConst 9%, Omaxe 10%, ONGC 13%, Orchid 14%, Pantaloon 11%, Parsvanath 15%, Purva 23%, Redington 21%, Shree Cem 34%, Sobha 15%, Sun TV 10%, Tulip 13%, UniPhos 14%, Unitech 13%

· OI Shed:- SCI 8%, Alok 4%, Hind Zinc 4%, Axis Bank 3%, Rolta 4%,

Indian ADRs: - http://tinyurl.com/33m7dx

Global Markets:-

US Markets were flat as Dow Jones was up just 6 points. NASDAQ was down 2 points. HDFC Bank and ICICI Bank ADRs gained 3% each. Others were flat.

Outlook for Monday:-

· This is the last day of the year, though not the last from the viewpoint of settlement calendar. Market is expected to be stock-specific as NAV propping can happen from various funds.

· Nifty and Sensex have recouped almost all the losses of 3^rd week in December. Short term players can keep SL at 19800 for the Sensex and look forward to 20500 as the target. Surpassing this level can give us a good breakout.

· GDL (162):- The stock has broken out on weekly graph. Buy for target of 200-210 in short-term. SL 150

· ITC (206):- Buy with SL 194 for target 225.

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.

Dear Blog readers,
The Daily Newsletter will not be available from Tuesday, 18 December 2007. It will again be prepared from 31 Dec, 2007 onwards.

DAILY REPORT FOR 17 DECEMBER, 2007

NIFTY: - Open 6056 High 6078 Low 6015 Close 6047 (-11 points)

P/E 27.19 P/B 6.32 Adv 23 Dec 27

Supp 6000/5960/5890 Res 6080/6130/6200

SENSEX: - Open 20108 High 20171 Low 19936 Close 20030 (-73 pts)

Supp 19880/19690/19500 Res 20170/20280/20500

Supply from higher levels:-

· Indices moved sideways for the whole day and finally Sensex lost 73 points weekend selling must have kept investors from creating big positions. Cement stocks were big gainers.

· Volumes were lower - Rs 19307 Cr in spot market and F&O Vol at Rs 61326 Cr.

· Market Breadth– BSE Adv 2182 Dec 869 Unch 41 NSE Adv 720 Dec 420 Unch 13

· Top Gainers: - Glaxo, ACC, CAIRN, Hind Unilever, Ranbaxy

Top Losers: - HDFC, Bharti Airtel, ICICI Bank, Tata Motors, BPCL

· FIIs sold Rs 647 Cr and DIIs bought Rs 105 Cr in Cash Market. FIIs sold total Rs 2144 Cr in stock and index futures.

· Total OI 114945 Cr (+3153 Cr) PCR at 1.24

· Nifty added 5% OI. Premium 24.10 pts

· OI Added:- BankNifty 8%, ACC 11%, Ansal Infra 13%, APIL 17%, Aptech 14%, BEML 11%, Biocon 10%, Crompton Greaves 28%, Edelweiss 15%, Grasim 19%, HOEC 15%, HindZinc 20%, India Cem 16%, ITC 13%, IVR Prime 46%, Jet 17%, JP Hydro 18%, Karnataka Bank 12%, LITL 16%, Lupin 10%, Mahlife 13%, Omaxe 10%, Patel Engg 18%, Satyam Comp 21%, Shree Cem 59%, Sobha 13%, Strides 14%, Tata Motors 11%, Tata Steel 10%, Triveni 13%, WWIL 10%

· OI Shed:- Axis Bank 14%, Bindal Agro 11%, GNFC 9%, Hotel Leela 8%, TTML 12%, Arvind Mill 7%

Indian ADRs: - http://tinyurl.com/33m7dx

Global Markets:-

American markets corrected on Friday as the Fed failed to assuage recession concerns. Dow Jones was down 178 pts. Wipro ADR was the top loser with around 4% loss. Other Indian ADRs were flattish.

Outlook for Monday:-

· As market is becoming quite stock-specific, only a short-term view of one or two days should be taken. Nifty sustaining above 6000 is bullish and below that level, 5960 is good support.

· Tech stocks look attractive in corrections. Satyam Comp, Prithvi Information and Tech Mahindra can bounce back from current levels.

· Other positive stocks are Asian Ele, Kesoram Ind, Ingersoll and Cairn.

· Prithvi (280):- Buy for target of 310-315. Keep SL at 264

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.

DAILY REPORT FOR 14 DECEMBER, 2007

NIFTY: - Open 6159 High 6185 Low 6040 Close 6058 (-101 points)

P/E 27.23 P/B 6.33 Adv 15 Dec 35

Supp 6010/5960/5890 Res 6095/6130/6200

SENSEX: - Open 20498 High 20498 Low 20065 Close 20104 (-271 pts)

Supp 19970/19830/19700 Res 20230/20350/20500

Some Correction:-

· Opening was good but bears took over as index stocks got sold off. Finally we closed down by 271 pts. FMCG gained.

· Volumes were okay - Rs 21779 Cr in spot market and F&O Vol at Rs 70156 Cr.

· Breadth was good – BSE Adv 1950 Dec 1102 Unch 39 NSE Adv 591 Dec 542 Unch 16

· Top Gainers: - ITC, Dr Reddy, Tata Steel, PNB, Cipla

Top Losers: - Bharti Airtel, Sun Pharma, Tata Power, ICICI Bank, HCL Tech

· FIIs sold Rs 401 Cr and DIIs bought Rs 226 Cr in Cash Market. FIIs sold total Rs 1461 Cr in stock and index futures.

· Total OI 111791 Cr (+1404 Cr) PCR at 1.23

· Nifty added 3% OI. Premium 8.5 pts

· OI Added:- Peninsula 102%, Jindal Saw 47%, Rolta 35%, IVR Prime 33%, Bhusan 32%, Hind Zinc 30%, Edelweiss 25%, Purva 22%, Bharti Airtel 21%, BHEL 19%, ITC 17%, BankBaroda 15%, EKC 14%, Satyam 13%, Sterling Bio 12%, Axis bank 11%, Jet 11%, JSWSteel 11%, Wipro 10%, Neyvelli 10%

· OI Shed:- Indian Bank 17%, Bindal Agro 14%, Ansal Infra 14%, MRPL 10%, Indiainfo 10%, IFCI 10%, Canbk 9%, IOB 8%

Indian ADRs: - http://tinyurl.com/33m7dx

Global Markets:-

It was just a 44 pt up closing for the Dow Jones Industrial Average as it see-sawed the whole day. Indian ADRs were also flat. Financial shares dropped.

Outlook for Friday:-

· Flat to positive opening is expected but we have to cross 6130 to get back towards new highs on the Nifty. If that does not happen, we may test 6000 levels on the Nifty. Stock-specific action is going to continue.

· Stocks like BHEL, L&T and GMR Infra look negative and can target lower levels.

· Kirloskar Oil Eng (173):- The stock has broken out and can target 200 and above. SL 160

· NIIT Ltd (144):- Buy with SL 131 and target of 165-168. Resistance going up 150/157.

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.

DAILY REPORT FOR 13 DECEMBER, 2007

NIFTY: - Open 6067 High 6175 Low 6005 Close 6159 (+62 points)

P/E 27.69 P/B 6.44 Adv 33 Dec 17

Supp 6110/6070/6000 Res 6200/6275/6325

SENSEX: - Open 20197 High 20419 Low 20045 Close 20375 (+84 pts)

Supp 20270/20180/20000 Res 20470/20650/20880

Remarkable comeback:-

· Markets opened negative on weak global sentiment but it was a nice comeback to once again close into all time high territory. Sensex closed up by 84 pts.

· Volumes were higher - Rs 22289 Cr in spot market and F&O Vol at Rs 71385 Cr.

· Breadth was very positive – BSE Adv 2251 Dec 792 Unch 47 NSE Adv 783 Dec 346 Unch 19

· Top Gainers: - Nalco, Zee Enter, HDFC, Idea, GAIL

Top Losers: - Infosys, Satyam Comp, ICICI Bank, Suzlon, BHEL

· FIIs sold Rs 385 Cr and DIIs bought Rs 115 Cr in Cash Market. FIIs bought in Index Fut worth Rs 202 Cr and sold in Stock Fut Rs 617 Cr.

· Total OI 110387 Cr (+5381 Cr) PCR at 1.29

· Nifty added 4% OI. Premium 29.75 pts

· OI Added:- Sobha 60%, Hind Zinc 34%, Cummins 30%, IVR Prime 27%, EKC 26%, Peninsula 25%, Jindal Saw 23%, Purva 23%, LITL 19%, Rajesh Expo 19%, Ansal Infra 18%, STAR 18%, Mahlife 17%, Rolta 15%, BHEL 14%, Praj 14%, CorpBank 13%, HOEC 11%

· OI Shed:- Parsvanath 14%, Nicolas Piramal 12%, Amtek Auto 10%, Bongref 9%

Indian ADRs: - http://tinyurl.com/33m7dx

Global Markets:-

Dow Jones opened up by more than 200 pts but got sold off during the day as it closed up by just 41 pts. MTNL ADR gained 4% and Patni Comp lost more than 3%. Asian markets are trading in negative territory.

Outlook for Thursday:-

· We confirmed our strength yesterday as we could not go below 6000 for the Nifty. Today we may see a positive-to-flat opening on weak global markets but as long as liquidity is flowing in, correction will be of intra-day nature.

· 6110 and 6070 are good supports (Nifty) for today and some bounce from there is again expected.

· Elecon Engg (320):- The stock can target 350 to 360 levels in short term. Buy in dips with SL below 305.

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.

DAILY REPORT FOR 12 DECEMBER, 2007

NIFTY: - Open 5960 High 6111 Low 5960 Close 6097 (+137 points)

P/E 26.68 P/B 6.40 Adv 46 Dec 4

Supp 6050/6000/5950 Res 6120/6200/6275

SENSEX: - Open 20049 High 20333 Low 20019 Close 20290 (+360 pts)

Supp 20200/20000/19700 Res 20450/20530/20720

Big Breakout:-

· Opening was very strong and as the day progressed, consistent buying was seen in index stocks like ONGC, Reliance and metals.

· Volumes were average - Rs 18732 Cr in spot market and F&O Vol at Rs 59421 Cr.

· Breadth was very positive from the word go but deteriorated somewhat in late trade – BSE Adv 2091 Dec 951 Unch 45 NSE Adv 715 Dec 410 Unch 20

· Top Gainers: - MTNL, Unitech, Nalco, Hind Petro, Bharti Airtel

Top Losers: - Ambuja Cem, Infosys, BHEL, Tata Power

· FIIs bought Rs 387 Cr and DIIs bought Rs 341 Cr in Cash Market. FIIs bought in Index Fut worth Rs 1038 Cr and sold in Stock Fut Rs 179 Cr.

· Total OI 105005 Cr (+2312 Cr) PCR at 1.28

· Nifty added very thin OI. Premium 10.05 pts

· OI Added:- Andhra Bank 17%, Ansal Infra 24%, BHEL 14%, BankIndia 10%, CAIRN 18%, CESC 10%, Idea 16%, India Cem 13%, IOB 22%, IVR Prime 10%, Karnataka Bank 17%, Nagar Const 23%, Peninsula 11%, Sobha 12%, STAR 75%, Tata Tea 15%, SRF 10%

· OI Shed:- Adlabs 10%, Balrampur Chinni 8%, Bharti Airtel 9%, BILT 15%, Bong Ref 10%, Dr Reddy 9%, OBC 8%, Rajesh Expo 10%, Zee Enter 15%

· OI speaking Sector-wise:- Auto Ancillary 3%, Ferti 4%, NBFC 4%, Telecom 5%,

Indian ADRs: - http://tinyurl.com/33m7dx

Global Markets:-

The Fed cut the interest rates by 25 bps but it could not cheer the American markets. This looks like already discounted by the markets there. Also further cuts were not signaled. Satyam, Wipro and VSNL were top losers from among Indian ADRs. MTNL rose 2%.

Outlook for Wednesday:-

· Yesterday we broke out above 20000 and now with global sentiment weak, today’s opening is expected to be lower. Support from lower levels is not ruled out.

· Indian market has been known for its strength through bad global sentiment. 20000 for the Sensex and 6000 for the Nifty may act as supports for intraday trade today. Stock-specific action will continue.

· ONGC (1240):- Buy around 1220-1230 for target of 1300 and above. Keep SL of 1190.

· Tata Tea (835):- The stock is near a breakout. Buy with SL of 790 and target of 950. 870 and 895 may provide some resistance.

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.

DAILY REPORT FOR 11 DECEMBER, 2007

NIFTY: - Open 5974 High 6015 Low 5923 Close 5960 (-14 points)

P/E 26.08 P/B 6.26 Adv 21 Dec 29

Supp 5890/5840/5760 Res 6020/6050/6120

SENSEX: - Open 20074 High 20095 Low 19834 Close 19930 (-35 pts)

Supp 19700/19600/19400 Res 20100/20250/20500

Lackluster market:-

· Indices remained sideways for the whole day as market players remained light just before the Fed Meeting on 11^th December.

· Volumes were quite low - Rs 16452 Cr in spot market and F&O Vol at Rs 47277 Cr.

· Breadth was positive – BSE Adv 2171 Dec 859 Unch 56 NSE Adv 750 Dec 379 Unch 15

· FIIs sold Rs 192 Cr and DIIs sold Rs 230 Cr in Cash Market as they must have taken a cautious view before tomorrow’s Fed Meeting. FIIs sold in Derivatives markets too to the tune of Rs 295 Cr.

· Total OI 102692 Cr (+2344 Cr) PCR at 1.27

· Nifty added 1% OI. Premium 12.75 pts

· OI Added:- Bhusan 18%, Bongref 20%, Crompton Greaves 18%, FinTech 11%, Gitanjali 6%, HTMTGlobal 13%, IFCI 13%, Jindal Saw 13%, Kesoram 16%, Kotak Bank 12%, LITL 15%, NagarFert 20%, Omaxe 11%, Rolta 11%, Satyam 16%, Sun TV 10%, TCS 13%, Titan 14%, Unitech 13%

· OI Shed:- Balrampur Chinni 13%, KPIT 10%, UniPhos 14%

· OI speaking Sector-wise:- Auto 3%, Cap Goods 3%, Fertilizers 10%, FMCG 3%, Media 4%, Metals 4%, NBFC 7%, Auto Ancillaries -3%, Sugars -8%,

Top Gainers: - GAIL, Hind Petro, Unitech, Suzlon, PNB

Top Losers: - VSNL, HCL Tech, BHEL, TCS, Cipla

Indian ADRs: - http://tinyurl.com/33m7dx

Global Markets:-

US stocks rose, led by banks and builders, after investors in Singapore and Middle East agreed to inject $11.5 bn into UBS and home sales unexpectedly advanced. Wipro and Patni Comp were top gainers with 3% gains each from among Indian ADRs.

Outlook for Tuesday:-

· Both Sensex and Nifty fail to give breakouts above 20000 and 6000 respectively. Good global cues will give us a positive opening today but if we are not able to sustain gains, selling pressure will accentuate and fall will be pretty heavy. Fed meeting on interest rates is to happen today and investors may not take aggressive positions just before that concludes.

· For now we are in a range of 20100 to 19700 on the Sensex. 20100-level has to be crossed for large-caps to again join the party. Reliance and ONGC hold the key.

· Stock-specific action will continue – Kesoram Ind, NDTV, Micro Inks, South Indian Bank and Karnataka Bank are looking good and can be bought for near-term gains.

· NDTV (382):- The stock is near a breakout. Buy for target of 415 SL 372

· Apollo Tyres (51.30):- It should target 57-58 levels. SL 48

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.

DAILY REPORT FOR 10 DECEMBER, 2007

NIFTY: - Open 5963 High 6042 Low 5894 Close 5974 (+20 points)

P/E 26.14 P/B 6.27 Adv 21 Dec 29

Supp 5890/5870/5800 Res 6050/6120/6190

SENSEX: - Open 20063 High 20094 Low 19706 Close 19966 (+170 pts)

Supp 19700/19600/19400 Res 20100/20250/20500

Technology comes to the party:-

· Opening was pretty strong but we got sold off as large-caps were not able to gain further ground. But IT sector led from the front as Infosys and TCS gained the most from Nifty.

· Volumes were average - Rs 20605 Cr in spot market and F&O Vol at Rs 61359 Cr.

· Breadth was good – BSE Adv 2128 Dec 868 Unch 80 NSE Adv 879 Dec 216 Unch 45

· Foreign investors sold Rs 253 Cr in cash market and Domestic institutions bought Rs 339 Cr. FIIs sold Index Fut worth Rs 488 Cr and bought stock Fut worth Rs 75 Cr.

· Total OI 100357 Cr (+2065 Cr) PCR at 1.25

· Nifty added 2% OI. Premium 12.95 pts

· OI Added:- Adlabs 17%, Balrampur Chinni 19%, Bongairef 12%, CESC 12%, CMC 17%, EKC 10%, Gitanjali 27%, HOEC 14%, HTMTGlobal 62%, Jindal Saw 10%, KPIT 28%, Mico 14%, Mphasis 13%, NIIT 20%, Nucleus 19%, Peninsula 28%, Renuka 13%, Rolta 67%, Satyam 38%, Sterlite Opt 12%, Triveni 18%, Tulip 20%, Voltas 15%, WWIL 34%

· OI Shed:- BankNifty 10%, AdiBirlaNuvo 9%, Bhusan Steel 11%, Cipla 8%, IFCI 12%, Infosys 14%, J&K Bank 41%, Shree Cem 20%

· OI speaking Sector-wise:- Sugars +15%, Metals +4%, Media +17%, IT +6%, FMCG +5%, Auto Ancillaries -4%, NBFCs -7%, Infrastructure -3%, Fertilisers -4%,

Top Gainers: - Infosys, ICICI Bank, HDFC, VSNL, TCS

Top Losers: - Hind Petro, Hindalco, ITC, SAIL, Tata Steel

Indian ADRs: - http://tinyurl.com/33m7dx

Global Markets:-

Dow Jones Index was flat as it rose just 5 points on Friday. Nasdaq too was down just 2 points. MTNL lost more than 7% among Indian ADRs. Infosys was the top gainer there with 3% gain.

Outlook for Monday:-

· Markets to open flattish. Breakout above 20000 is awaited as Tech stocks are back in some limelight.

· Break of 19700 on the Sensex will give some intraday correction towards 19600 and 19400. For the Nifty, 5730-5760 level has to be watched in any correction.

· Capital goods stocks like L&T, BHEL look weak and can pressurize the indices.

· Polaris (124):- Buy around 121-122. The stock can target 130-132 levels in a day or two. One can keep SL at 118

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.