Thursday, February 14, 2008


NIFTY: - Open 4836 High 4986 Low 4836 Close 4929 (+91 points)

P/E 21.03 P/B 5.16 Adv 34 Dec 15 Unch 1

Supp 4915/4870/4825 Res 5010/5090/5175

SENSEX: - Open 16816 High 17141 Low 16725 Close 16949 (+341 pts)

Supp 16900/16700/16400 Res 17430/17670/17960

Metals rally:-

· Indices opened strong and remained that way as Tata Steel and SAIL saw good buying. Sensex was up nearly 350 points.

· Volumes were almost same as Tuesday - Rs 13172 Cr in spot market and F&O Vol at Rs 37555 Cr.

· Breadth was not so positive – BSE Adv 875 Dec 2094 Unch 48 NSE Adv 399 Dec 745 Unch 23

· Top Gainers: - Unitech, Hero Honda, Tata Steel, SAIL, ITC

Top Losers: - Nalco, Cipla, Wipro, Idea, RCom

· Net activity of FIIs and MFs was very small. FIIs bought Rs 9 Cr and MFs bought Rs 23 Cr in cash market. Foreign investors bought Rs 1688 Cr in Index and Stock Futures.

· Total OI 65946 Cr (+724 Cr) PCR at 0.86

· Nifty shed 4% OI. Basis -20.55

· OI Added:- Balrampur 10%, Indian Bank 38%, JP Asso 16%, PFC 13%, Unitech 11%

· OI Shed:- HOEC 11%, Nicolas 12%, Relcap 17%, WelspunGuj 9%

Indian ADRs: -

Global markets:-

DJIA rallied 178 points overnight as Tech and Energy shares rose. HDFC Bank ADR was the top gainer with 4% upside. Nasdaq too was up 53 points.

Outlook for Thursday:-

· Markets to open gap-up on positive global cues. 5090 can be the probable resistance for the Nifty intraday. Move below 4870 will take us to 4825 and then panic-selling can happen.

· GMR Infra (147):- One can buy the stock with strict SL of 134 and Target 168-172.

· Shipping corp has a very good dividend yield. The company has announced 28th Feb as the Record Date for Interim Dividend. Last year company had paid Rs 8.5 (85%) dividend. So it is a good buy for INVESTMENT. CMP 196

· ONGC and NTPC show some positive formation and it looks as if supply is getting absorbed around these levels. These 2 stocks can help the index go up.

· We have not fully bottomed out yet so one has to take a longer term view and buy slowly.

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.

No comments: