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