Monday, December 03, 2007

DAILY REPORT FOR 3 DECEMBER, 2007

NIFTY: - Open 5633 High 5782 Low 5632 Close 5762 (+128 points)

P/E 25.21 P/B 6.05 Adv 43 Dec 7

Supp 5725/5665/5630 Res 5815/5890/5980

SENSEX: - Open 19136 High 19424 Low 19006 Close 19363 (+359 pts)

Supp 19250/19085/18880 Res 19450/19600/19830

Good last day for November month:-

· Markets opened strong and consistent buying was seen in almost all the sectors. Breadth was also very positive as market traded near breakout around 19360 for most of the time in the day. Finally we could close up by 359 pts on the Sensex.

· Volumes had to be big - Rs 21963 Cr in spot market and F&O Vol at Rs 60313 Cr.

· Breadth was very good – BSE Adv 1865 Dec 1133 Unch 82 NSE Adv 756 Dec 356 Unch 31

· FIIs got back onto the buying momentum once again as they bought Rs 1072 Cr in cash market. Domestic Institutions too didn’t lag behind as they bought Rs 688 Cr. FIIs bought Rs 311 Cr in Index Futures and sold Rs 1568 Cr in Stock Futures.

· Total OI 84567 Cr (+8176 Cr) PCR at 1.34

· Nifty added 1% OI. Prem 40.75 pts

· OI added:- VSNL 37%, Essar Oil 31%, JP Hydro 31%, Tata Tea 31%, J&K Bank 30%, BongaiRef 25%, Neyveli 24%, CorpBank 23%, Glaxo 21%, SCI 21%, Kotak Bank 20%, Siemens 19%

· OI shed:- McDowell 19%, HTMT Global 15%, Amtek Auto 14%, Ster Ind 12%, IOB 10%, DLF 10%

Top Gainers: - VSNL, Ster Ind, MTNL, TCS, Tata Power

Top Losers: - Glaxo, Hind Petro, Hero Honda, Hind Unilever, Bajaj Auto

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

Outlook for Monday:-

· Good buying was seen on Friday and that means liquidity is coming back into the market. Nifty closing above 5760 should be considered bullish.

· Sensex has also closed above 19360 and one more closing above this level will confirm the breakout.

· We should look forward to 20500 as next target. 19830 and 20000 will be the resistance going towards that target. 18800 can be SL for short-term traders now.

· Markets should open strong today but wider participation is needed to continue the rally. 5725 on the Nifty is a very good support for the day and below that correction is due to happen. Reliance Ind looks positive and it can move the markets up very easily.

· Stock-specific action will continue despite overall market sentiment. Break of 5665 will advise some caution for longs.

· AIA Engineering (1546) looks positive and can target 1700 levels in days to come.


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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