Thursday, January 03, 2008


NIFTY: - Open 6144 High 6197 Low 6060 Close 6179 (+35 points)

P/E 27.80 P/B 6.43 Adv 23 Dec 27

Supp 6100/6050/6020 Res 6200/6265/6350

SENSEX: - Open 20393 High 20529 Low 20077 Close 20465 (+164 pts)

Supp 20300/20240/20000 Res 20550/20800/21000

Good recovery from lows:-

· Markets fell in the first half but then slowly recovered to close near all-time highs.

· Volumes were higher - Rs 22655 Cr in spot market and F&O Vol at Rs 74186 Cr.

· Breadth was positive but not so overwhelming – BSE Adv 1982 Dec 911 Unch 21 NSE Adv 673 Dec 467 Unch 3

· Top Gainers: - Unitech, PNB, HDFC, Tata Motors, REL

Top Losers: - HCL Tech, GAIL, Cairn, VSNL, Satyam Comp

· FIIs sold Rs 628 Cr and DIIs bought Rs 427 Cr in Cash Market. FIIs bought Rs 34 Cr in Index Futures and sold Rs 1037 Cr in Stock Futures.

· Total OI 113672 Cr (+4155 Cr) PCR at 1.34

· Nifty OI was almost unchanged. Premium 40.70 pts

· OI Added:- BankNifty 13%, AdiBirlaNuvo 12%, Adlabs 20%, Amtek Auto 14%, Axis 21%, BEML 13%, Bhusan 17%, BomDyeing 17%, Brigade 33%, Canbk 12%, CESC 15%, CMC 12%, Colgate 20%, Dabur 15%, Federal 13%, HTMTGlobal 53%, IndusInd 11%, IVRPrime 13%, J&K Bank 24%, Karnataka Bank 15%, MahLife 12%, Matrix Labs 19%, NagarConst 37%, NagarFert 11%, Naukri 11%, Peninsula 13%, RelCap 10%, ShreeCem 13%, Tata Power 10%, UniPhos 20%

· OI Shed:- BPCL 7%, Essar Oil 12%, Indian Bank 12%, Parsvnath 7%, Vijaya Bank 8%

Indian ADRs: -

Global Markets:-

Dow Jones closes down by more than 200 points on the back of biggest decline in manufacturing in five years. MTNL ADR gained 8% and Tata Motors 3%.

Outlook for Thursday:-

· Markets to open weak on negative global cues. Cement companies can see some selling on the back of news that TN Government may take over the private companies if prices are not cut.

· Yesterday Nifty made a nice recovery from lows of 6060 but once we are below that, 6020 and 5980 can come rapidly. With results season just around, one needs to be light with positions. Correction starting from current levels is not a good sign. Any move below 5980 will be very negative for this market.

· GDL is looking very nice around current levels of 161. The stock just needs to cross 168 and it can rapidly move towards 200.

· Satyam Comp (436):- The stock has consolidated nicely and can target around 485-490 levels in days to come. Buy with SL 425

Tamil Nadu threatens to take over Cement cos

MTNL likely to get pan-India mobile license

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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