Wednesday, December 05, 2007


NIFTY: - Open 5870 High 5897 Low 5840 Close 5858 (-7 points)

P/E 25.63 P/B 6.15 Adv 23 Dec 27

Supp 5825/5765/5710 Res 5900/5960/6000

SENSEX: - Open 19707 High 19707 Low 19482 Close 19529 (-74 pts)

Supp 19420/19300/19190 Res 19750/19970/20200

Metals shine:-

· Opening was strong but gains didn’t sustain as only mid and small cap stocks participated in the rally. Metal stocks stood out as SAIL, Tata Steel, Mah Seamless and Jindal Steel were major gainers. PSU Refinery stocks also went up.

· Volumes were average - Rs 19771 Cr in spot market and F&O Vol at Rs 56330 Cr.

· Breadth was very good – BSE Adv 2059 Dec 953 Unch 70 NSE Adv 729 Dec 395 Unch 19

· FIIs sold Rs 332 Cr in cash market and DIIs bought Rs 116 Cr. FIIs bought Rs 280 Cr in Index Futures and sold Rs 215 Cr in Stock Futures.

· Total OI 92687 Cr (+2732 Cr) PCR at 1.27

· Nifty shed 1% OI Premium 19 pts

· OI Added:- Mico 707%, NIIT Ltd 335%, J&K Bank 147%, Network18 115%, GBN 104%, Naukri 80%, WWIL 74%, IVR Prime 50%, Bata India 49%, Ispat 45%, KPIT 32%, Jindal Saw 31%

· OI Shed:- Essar Oil 15%, Nicolas Piramal 14%, Chambal Fert 12%, Syndicate Bank 10%

Top Gainers: - SAIL, Hind Petro, BPCL, Tata Steel, Tata Power

Top Losers: - Reliance, VSNL, Unitech, RPL, TCS

Indian ADRs: -

Outlook for Wednesday:-

· Indian markets to open flattish on mixed global cues and stock-specific action will continue as heavyweights are going into consolidation phase.

· Mid and small-cap universe is quite big and for now the money is flowing into that world. But the strength of the market depends on large caps as they signify bigger portion of investor wealth. Its happening like troops are going ahead fighting but the kings are taking rest.

· Godrej Consumer (150):- The stock has given a solid breakout and now it should target 185-190 levels. One may keep a SL of 135.

· Tea stocks are attracting buying interest especially Tata Tea is looking very good and can still go higher.

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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