DAILY REPORT FOR
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
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,
· 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.