Tuesday, February 12, 2008


NIFTY: - Open 5120 High 5126 Low 4803 Close 4857 (-263 points)
P/E 20.72 P/B 5.09 Adv 9 Dec 41
Supp 4730/4640/4535 Res 4930/4985/5080

SENSEX: - Open 17427 High 17427 Low 16457 Close 16630 (-833 pts)
Supp 16400/16000/15800 Res 16840/17230/17450

RPower can’t make bulls happy:-
· The much-awaited Reliance Power listing could not cheer the street as Sensex started in negative territory and supply was seen the whole day. Sensex crashed by more than 1000 points in intraday trade. Finally we closed down by 833 points.
· Volumes were higher - Rs 19724 Cr in spot market and F&O Vol at Rs 41257 Cr.
· Breadth was quiet negative – BSE Adv 337 Dec 2630 Unch 45 NSE Adv 65 Dec 1076 Unch 21
· Top Gainers: - VSNL, Satyam, Zee, Glaxo, Maruti
Top Losers: - REL, Tata Power, Unitech, GAIL, RCom
· FIIs sold Rs 1268 Cr in Cash market and DIIs sold small Rs 22 Cr. Foreign investors sold Rs 863 Cr in Index Fut and bought Rs 488 Cr in Stock Fut.
· Total OI 65327 Cr (-3645 Cr) PCR at 0.91
· Nifty added 3% OI. Basis -46.45
· OI Added:- AIA 15%, Balrampur 14%, HDIL 10%
· OI Shed:- AdiBirla 13%, Bajaj Hind 16%, BEL 15%, GDL 10%, HCC 9%, IndiaInfo 13%, Karnataka 12%, Nicolas 12%, Redington 10%, REL 11%, Triveni 15%
Indian ADRs: - http://tinyurl.com/33m7dx

Global markets:-
US Stocks rose as a rally in oil prices boosted energy shares. Dow Jones closed up by 57 points. VSNL ADR shot up by more than 9%.

Outlook for Tuesday:-
· Nifty has closed below 200 SMA (4979) quite comfortably and this is a negative sign for the markets going forward. We need to recover quickly and get above this level as early as possible for bulls to have some say.
· If we can’t even cross that level, supply will become more intense and sub-4000 levels are a possibility on the Nifty. Market players are advised to still wait some more time and not to buy in haste.
· Opening may be flat to positive today. Sensex has to cross and sustain above 16840 intraday. 17200 to 17400 is a strong resistance.

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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