Friday, February 22, 2008


NIFTY: - Open 5156 High 5241 Low 5120 Close 5191 (+37 points)

P/E 22.14 P/B 5.44 Adv 32 Dec 18

Supp 5085/5000/4920 Res 5210/5270/5360

SENSEX: - Open 17825 High 17911 Low 17482 Close 17734 (+117 pts)

Supp 17260/17130/16960 Res 17800/17920/18000

5115 provided good support:-

· Though markets opened gap-up, the gains slowly disappeared as indices went into the negative in mid-session. But buying emerged from 5120 levels of the Nifty to take it towards 5200 again. IT stocks were major gainers.

· Volumes - Rs 12193 Cr in spot market and F&O Vol at Rs 43409 Cr.

· Market Breadth– BSE Adv 1657 Dec 1264 Unch 51 NSE Adv 689 Dec 419 Unch 44

· Top Gainers: - Satyam, HCL Tech, Hindalco, Sun Pharma, Nalco

Top Losers: - PNB, ABB, HDFC, GAIL, BPCL

· FIIs bought Rs 209 Cr and MFs bought Rs 140 Cr in cash market. Foreign investors bought Rs 206 Cr in both Index and Stock Futures.

· Total OI 76934 Cr (+1766 Cr) PCR at 0.95

· Nifty OI was almost unchanged. Basis -9.70

· OI Added:- ABB 10%, BEML 22%, BPCL 10%, Canbk 15%, Centext 16%, Cummins 11%, GBN 24%, Hotel Leela 10%, KPIT 20%, PFC 17%, RelCap 10%, RNRL 10%, RPower 12%, Siemens 11%, Suzlon 13%, TechM 14%

· OI Shed:- IndusInd 7%, Infosys 6%, Lupin 10%, Renuka 8%

Indian ADRs: -

Global Markets:-

Dow Jones fell nearly 150 pts led by energy and industrial shares, after a worse-than-forecast manufacturing report and higher stockpiles of oil spurred concern that the economy has fallen into a recession.

Outlook for Friday:-

· Tech stocks helped us stay above 5115 levels on the Nifty but today as the global sentiment is negative, we can see break of that level in early trade. We can once again test 200DMA at 5021. Fall below 5000 can create some panic.

· Banks saw some selling on the back of lending rates cut and one should be a bit careful while buying them as more supply may come.

· We are forming lower tops in the Nifty and one should not hurry for buying as this is a Friday.

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.

1 comment:

Vijay said...

Thank you very much for the detailed report.
it was very informative and helpful .