Tuesday, February 19, 2008


NIFTY: - Open 5304 High 5348 Low 5224 Close 5276 (-26 points)

P/E 22.51 P/B 5.53 Adv 22 Dec 28

Supp 5220/5140/5070 Res 5350/5400/5460

SENSEX: - Open 18228 High 18256 Low 17900 Close 18048 (-67 pts)

Supp 17890/17570/17260 Res 18240/18430/18590

Flattish day:-

· Indices were up in early trade but got sold off as buying interest was not so keen. RPower lifted sentiment of ADAG stocks but overall a flat day for the indices.

· Volumes were pathetic - Rs 10920 Cr in spot market and F&O Vol at Rs 32416 Cr.

· Market Breadth– BSE Adv 1931 Dec 1030 Unch 59 NSE Adv 763 Dec 388 Unch 18

· Top Gainers: - Nalco, M&M, ITC, Hindalco, Hind Unilever

Top Losers: - Unitech, Idea, Ster, Suzlon, TataMotors

· FIIs sold Rs 342 Cr and MFs sold Rs 134 Cr in cash market. Foreign investors bought just Rs 95 Cr in both Index and Stock Futures.

· Total OI 74394 Cr (+866 Cr) PCR at 0.93

· Nifty added 2% OI. Basis -4.45

· OI Added:- Amtek Auto 34%, BEML 26%, Educomp 18%, Shree Cem 13%, Tulip 45%

· OI Shed:- Canbk 7%, Indian Bank 13%, Omaxe 7%

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Tuesday:-

· 18300-18500 is good resistance area for the Sensex and if we are unable to cross 18500 in next 2 days, lower levels of 17000-17200 will again be tested.

· Reliance Ind is near a resistance and if it corrects from current levels, Nifty can once again test levels around 5000.

· RPower is going to issue bonus shares to its shareholders. But there are talks like only IPO investors will get the bonus and we may not be able to sell those shares until 60 days after the bonus announcement. So there is some confusion regarding this news of Bonus. One should avoid fresh positions in this stock till meeting on 24 Feb goes through.

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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