DAILY REPORT FOR
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
· 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
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.