DAILY REPORT FOR
NIFTY: - Open 4944 High 5220 Low 4944 Close 5202 (+273 points)
P/E 22.19 P/B 5.45 Adv 50
Supp 5120/5060/5000 Res 5260/5320/5395
SENSEX: - Open 17265 High 17838 Low 17265 Close 17766 (+817 pts)
Supp 17600/17410/17240 Res 17970/18300/18510
All stocks in Nifty +++:-
· Markets opened very strong on positive global cues and shorts were forced to cover in late trade as all 50 stocks on the Nifty were positive. Sensex rose by 817 points.
· Volumes were average - Rs 13545 Cr in spot market and F&O Vol at Rs 37973 Cr.
· Breadth was very positive – BSE Adv 2139 Dec 826 Unch 52 NSE Adv 1034 Dec 120 Unch 13
· Top Gainers: - RPL, BHEL, BPCL, Unitech, REL
Top Losers: - No Losers
· Though index gains were huge, FII activity wasn’t that great. FIIs bought just Rs 60 Cr and MFs bought Rs 205 Cr in Cash Market. Foreign investors bought Rs 3270 Cr in Index and Stock Futures.
· Total OI 70708 Cr (+4761 Cr) PCR at 0.93
· Nifty shed 4% OI. Basis -15.15
· OI Added:- AIA 21%, BEML 27%, CanBk 21%, GNFC 22%, JPAsso 35%, Nicolas 28%, Syndi 24%, UniPhos 35%
· OI Shed:- Minifty 12%, DLF 7%, Hind Petro 8%, PFC 8%, Renuka 9%
Indian ADRs: - http://tinyurl.com/33m7dx
Outlook for Friday:-
· Centre hiked prices of Petrol and Diesel yesterday and this will add to inflation. RBI has already said about current inflation being high.
· Yesterday’s rally may primarily be because of short covering as both FII and MFs figures are not so encouraging. That is why we need to see whether follow-up buying comes in a day or two.
· For today’s trading, Nifty has to sustain above 5120 intraday. Intraday supply from around 5260 is not ruled out. Major resistance for Sensex can be 18300-18500.
· Parsvnath Dev (274):- Buy around 265-270 with SL 256 and Target 295-300 (Don’t wait for targets to be reached in this market, one can book profits wherever one likes as market is not yet so stable.)
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.