DAILY REPORT FOR
NIFTY: - Open 6136 High 6165 Low 6109 Close 6144 (+6 points)
P/E 27.64 P/B 6.40 Adv 24 Dec 26
Supp 6090/6070/6020 Res 6160/6200/6265
SENSEX: - Open 20325 High 20394 Low 20220 Close 20300 (+13 pts)
Supp 20200/20000/19800 Res 20400/20500/20900
Cautious start to the New Year:-
· Markets gained in early trade but drifted down thereafter to close just 13 points up on the Sensex. Power stocks rallied with Rel Energy and Tata Power as leaders.
· Volumes were lower - Rs 16595 Cr in spot market and F&O Vol at Rs 49163 Cr.
· Breadth was positive– BSE Adv 2418 Dec 651 Unch 36 NSE Adv 819 Dec 333 Unch 16
· Top Gainers: - REL, Tata Power, Nalco, ITC, Unitech
Top Losers: - Cairn, Bharti Air, HCL Tech, TCS, Idea
· FIIs bought Rs 461 Cr and DIIs bought Rs 306 Cr in Cash Market. FIIs sold total Rs 325 Cr in stock and index futures.
· Total OI 109516 Cr (+3485 Cr) PCR at 1.29
· Nifty added 2% OI. Premium 12.05 pts
· OI Added:- Albk 12%, Brigade 54%, HOEC 13%, IOB 11%, ITC 12%, J&K 24%, Karnataka Bank 11%, MahLife 11%, MTNL 13%, NagarConst 10%, Naukri 15%, Nucleus 46%, Peninsula 12%, RajeshExpo 20%, RelCap 11%, Tata Motors 12%
· OI Shed:- BEL 7%, HindZinc 6%, IndianBank 7%, Parsvnath 6%, REL 4%, Rolta 5%, Tata Power 8%, WWIL 6%
Indian ADRs: - http://tinyurl.com/33m7dx
Outlook for Wednesday:-
· Sideways movement has happened for last 3-4 sessions and new positions are getting created with every passing day. Break of 6070 may give some more intraday fall towards 6020.
· Stock-specific movement will continue as long as we are in the range of 6070 to 6200.
· Stock of ONGC is showing good formation on charts and that stock should be watched for knowing Nifty Movement. It can surprise on the upside and then Nifty will go up with it.
· Tata Tea (927):- It should target 1050-1060 in days to come. Buy SL 885.
· MTNL (208):- Buy at 200-204 for target 227-232 in next 3-4 days. Keep SL of 195
· Tata Motors, Mphasis BFL, Bharat Forge, Biocon are other stocks that are looking good on graph and can be bought for quick gains.
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.