Monday, January 07, 2008


NIFTY: - Open 6179 High 6300 Low 6179 Close 6274 (+96 points)

P/E 27.80 P/B 6.43 Adv 28 Dec 21 Unch 1

Supp 6250/6175/6060 Res 6325/6370/6440

SENSEX: - Open 20367 High 20762 Low 20367 Close 20686 (+341 pts)

Supp 20500/20350/20000 Res 20800/21000/21250

300 pt rally:-

· Indices can’t give meager gains when Reliance and ONGC move together and the very thing happened on Friday. Some help from FMCG did come and Sensex closed up by 341 points.

· Volumes were a little higher - Rs 23686 Cr in spot market and F&O Vol at Rs 67181 Cr.

· Breadth was more negative than Thursday – BSE Adv 1511 Dec 1396 Unch 28 NSE Adv 536 Dec 601 Unch 8

· Top Gainers: - RPL, Sterlite, LT, ICICI Bank, Hind Unilever

Top Losers: - Sun Pharma, Nalco, NTPC, Hero Honda, Tata Motors

· FIIs bought just Rs 16 Cr and DIIs bought Rs 506 Cr in Cash Market. Foreign investors bought Rs 1072 Cr in Index Fut and sold Rs 257 Cr in Stock Fut.

· Total OI 122648 Cr (+4861 Cr) PCR at 1.40

· Nifty added 3% OI. Discount 10.15

· OI Added:- BEML 17%, Gitanjali 21%, IOB 14%, Naukri 12%, Patel 19%, Rolta 27%, Satyam 12%, STAR 14%, Sun TV 21%, Tata Motors 14%

· OI Shed:- BankNifty 12%, Minifty 11%, DLF 9%, JP Hydro 12%, NagarConst 13%, Parsvnath 5%, Petronet 6%, RelCap 6%, Sasken 9%, Sterlite 5%, Tata Power 10%, UniPhos 15%

Indian ADRs: -

Global Markets:-

Dow Jones plunged 256 points on bad economic data. Nasdaq was down nearly 100 points. All Indian ADRs were in the negative. Asian markets have also opened weak.

Outlook for Monday:-

· Friday was a breakout as ONGC and Reliance Ind made things pretty simple for the indices. Now we need to sustain these levels to once again show our strength in front of other markets.

· Reliance and ONGC should again be watched as these stocks can once again help the market from tanking. Nifty has to sustain 6170 levels.

· Biocon, TTML, Indian Hotel look good to buy in dips.

· Indian Hotels (166):- Buy near 158-162 for target 185-190. Keep SL 150

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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