DAILY REPORT FOR 31 MARCH, 2008

NIFTY (4942 +112 pts)

Supp 4895/4825/4780 Res 4990/5020/5060

SENSEX (16371 +356 pts)

Supp 16230/16090/15800 Res 16500/16675/16890

Outlook for 31 March, 2008:-

· Markets are expected to open flat and test of around 4890 levels is possible in early trade. One should trade long with caution if we go below that level.

· This move can take us towards 4990 and 5020 in a day or two. Stocks have started moving well and it is advisable to take profits when they are handsome.

· Exide (68):- Buy with SL of 63 Tgt 76-78

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.

DAILY REPORT FOR 28 MARCH, 2008

NIFTY (4830 +2 pts)

Supp 4740/4710/4630 Res 4885/4915/4960

SENSEX (16015 -71 pts)

Supp 15850/15600/15330 Res 16150/16450/16700

Outlook for 28 March, 2008:-

· March expiry is over and we start the series with Rs 42026 Cr of OI which is lower than previous series-starting. Next series will be characterized by Earnings season as India Inc declares its FY08 numbers.

· IT stocks are making bullish formations on graph. May be some positive surprise is lurking in the results or in the Dollar. Those stocks should outperform in this series. Same is the case with Pharma stocks.

· Sensex uptrend will not be so swift as before but as long as we are above 15330, we should not worry much about the downside.

· Access Deficit Charge on domestic calls has been abolished by TRAI and the move should benefit telecom companies here. Bharti Airtel, RCom to benefit.

· Suzlon and Aurobindo have recovered well yesterday. Both are investment buy for more than 20% returns.

· Today Sensex not cutting 15800 will mean bullishness and we can target 16450 in late trade.

· Wipro (430):- Buy for target of 468-475 with SL 410

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.

DAILY REPORT FOR 27 MARCH, 2008

NIFTY (4828 -48 pts)

Supp 4790/4745/4700 Res 4890/4925/4960

SENSEX (16086 -130 pts)

Supp 16000/15880/15600 Res 16150/16450/16700

Outlook for 27 March, 2008:-

· We could not cross the resistance at 4915 and did correct towards 4800 yesterday. But today is a new day and more importantly it is F&O expiry day for month of March 2008. A lot of short covering has already happened but more is expected in individual stocks. That is why we see these more-than-20% moves in a single day in many stocks. Purva and KPIT were examples of yesterday when they both were up more than 20%.

· 16450 and 4925 are resistances for Sensex and Nifty respectively and supply is not ruled out from higher levels until these are crossed. Stock-specific movement will continue and the range for the Nifty today can be 4745 to 4920.

· This market is not going to be very fast like before and we have to take profits when we get good returns as our stocks may move lower to buy back again.

· JK Cement (152):- Buy around 145-149 with SL 130. The stock can target 168-172.

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.

DAILY REPORT FOR 26 MARCH, 2008

NIFTY (4877 +268 pts)

Supp 4830/4790/4750 Res 4915/4955/5020

SENSEX (16217 +928 pts)

Supp 16000/15880/15600 Res 16490/16680/16930

Outlook for 26 March, 2008:-

· Bulls came to the party yesterday as indices broke the roofs with nearly 1000-point gain for the Sensex. Volumes rose, breadth also improved. Institutions were waiting on the sidelines and came with full strength as FIIs bought more than Rs 3000 Cr in Futures and Cash market collectively.

· Expiry was just 2 days away and the markets bounced very timely. Bears were forced to cover the short positions and a lot of covering did happen yesterday. This looks like a perfect setup for squeezing the shorts and more covering is not ruled out.

· We can see some downticks intraday in days to come, but now our target of 17000-17500 looks nearer. IT stocks can outperform as they are showing great formations on charts. Infosys, Wipro, TCS and Tech Mahindra can be the leaders.

· Other stocks that are looking good:- GT Offshore, M&M, Maruti, Biocon, Siemens

· We can achieve 4915 in this move itself but a reaction towards 4790 is a possibility and one would rather wait for that level before opening intraday longs.

· Biocon (405):- Buy for target of 460-465 SL 384

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.

DAILY REPORT FOR 25 MARCH, 2008

NIFTY (4609 +36 pts)

Supp 4590/4550/4515 Res 4650/4720/4775

SENSEX (15289 +295 pts)

Supp 15200/15050/14900 Res 15460/15730/15900

Outlook for 25 March, 2008:-

· We witnessed good intraday selling yesterday but that wasn’t enough and bulls had the upper hand as we closed with good gains. This is a sign of strength and buying is expected to continue.

· Now 4500-4520 becomes strong support for this move and we should aim 4775 to 4800 levels at least. Breadth was pretty negative yesterday but it can improve once we stabilize here.

· Individual stocks will outperform the broader market. Infosys, ACC, Bharti Airtel, Dr Reddy, Hind Unilever, L&T are looking good on graph and any rally in them can make the markets move up nicely.

· Infosys (1361):- The stock has bottomed out and can target 1490-1510 levels. Buy with SL at 1290.

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.

DAILY REPORT FOR 24 MARCH, 2008

NIFTY: - Open 4534 High 4718 Low 4533 Close 4574 (+41 points)

P/E 19.93 P/B 4.91 Adv 31 Dec 18 Unch 1

Supp 4530/4450/4350 Res 4615/4650/4720

SENSEX: - Open 15325 High 15465 Low 14930 Close 14994 (+161 pts)

Supp 14900/14670/14500 Res 15200/15280/15500

Indices were up, but off the highs:-

· Stocks soared in early trade as global markets witnessed sharp rallies across the board but gains could not sustain as investors didn’t bet aggressively just before the long weekend.

· Selective buying in IT stocks was witnessed. Satyam, Wipro and Infosys gained.

Statistics:-

· BSE Vol Rs 5796 Cr Breadth Adv 758 Dec 1923 Upper Circuit 81 Lower Circuit 425

· NSE Vol Rs 13948 Breadth Adv 369 Dec 835 F&O Vol Rs 46365

· Top Gainers: - Satyam, Wipro, Tata Motors, SAIL, Nalco

Top Losers: - Hero Honda, BPCL, Hindalco, Unitech, Idea

· FIIs bought smallish Rs 30 Cr in cash market. MFs too bought Rs 142 Cr. Foreign investors bought Rs 1838 Cr in Index Futures and Rs 239 Cr in Stock Futures. FII OI in Index F&O Rs 32003(-750) Cr and in Stock F&O Rs 21282(-322) Cr.

· Total OI 61494 Cr (-285 Cr) PCR at 0.86

· Nifty shed 2% OI. Basis -1.25

· OI Added:- Axis 11%, CMC 47%, Educomp 13%, Essar Oil 22%, GAIL 10%, HeroHonda 10%, Jet 14%, Triveni 15%, WelGuj 19%

· OI Shed:- Minifty 10%, ABB 12%, AbirlaNuvo 11%, Aptech 13%, Bajaj Holding 12%, GEShip 12%, ITC 9%, LITL 12%, Naukri 66%, Orchid 13%, RelCap 11%, SAIL 9%, Sesa Goa 15%, Yes Bank 26%

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

Outlook for Monday:-

· We should buy in tranches and not all in one go. Those who have bought some stock last week have to give some time for markets to settle. This is not a confirmed bottom yet (of 14677 on the Sensex), but we are on course to bottoming out and then give a good bounce.

· Flat opening is expected today but individual stocks can recover quickly. Stock-specific movement should happen.

· Market is not likely to reward traders much as we will move up-down pretty sharply. Investors have to take benefit of the volatility and add good stocks in panic. Suddenly some stock will move up 3-4% and then selling can take it down 8-9% also. We can capitalize on these opportunities only when we buy in cash and have stock with us. A leveraged player is doomed to fell in such a market as we are not yet so stable.

· GT Offshore (597):- The stock can be bought for short as well as long-term investing. In the short-term, it can bounce towards 650-675 levels.

· Inflation announced last week (5.92%) has gone well above RBIs comfort level of 5% and stringent measures by RBI for tightening money-supply will be expected. Banks may remain subdued by this news.

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.

DAILY REPORT FOR 19 MARCH, 2008

NIFTY: - Open 4519 High 4617 Low 4468 Close 4533 (+30 points)

P/E 19.75 P/B 4.87 Adv 35 Dec 15

Supp 4460/4360/4305 Res 4620/4740/4805

SENSEX: - Open 14725 High 15169 Low 14677 Close 14833 (+23 pts)

Supp 14800/14670/14500 Res 15170/15350/15800

Bounce-back has started:-

· Stocks plunged to the lowest in almost seven months after the Fed cut its discount rate at an emergency meeting. Sensex felt the global heat and closed down by 951 points.

· ICICI Bank was the top loser with 13% fall. Reliance Industries fell to its lowest in 6 months.

Statistics:-

· BSE Vol Rs 6971 Cr Breadth Adv 749 Dec 1918 Upper Circuit 67 Lower Circuit 439

· NSE Vol Rs 15170 Breadth Adv 339 Dec 863 F&O Vol Rs 47532

· Top Gainers: - Unitech, Tata Comm, Siemens, DLF, HCL Tech

Top Losers: - Tata Power, Ster, Tata Steel, SBI, Hindalco

· FIIs sold Rs 1011 Cr and MFs bought Rs 177 Cr in Cash Market. Foreign Investors bought Rs 1017 Cr in Index Futures and Rs 291 Cr in Stock Futures. FIIs OI in Index F&O Rs 32753 Cr and in Stock F&O Rs 21604 Cr.

· Total OI 61780 Cr (-431 Cr) PCR at 0.83

· Nifty shed 5% OI. Basis +15.85

· OI Added:- Aptech 16%, ColPal 17%, GBN 27%, IVRCL Infra 13%, Naukri 248%, Orchid 9%, Renuka 14%, WelGuj 15%, YesBank 47%

· OI Shed:- AIA 79%, Bharti Airtel 14%, Cairn 9%, Hero Honda 9%, MahLife 9%, McDowell 9%, Nucleus 11%, Ranbaxy 9%, SAIL 10%

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

Global Markets:-

Dow Jones rose 420 points as Fed cut its main lending rate by 75 bps to 2.25%. Stocks rallied the most in five years as earnings from Lehmann Brothers Holdings Inc. and Goldman Sachs Group Inc. allayed concern that investment banks are collapsing. Indian ADR didn’t lag behind as Tata Communication jumped 25%, ICICI Bank and HDFC Bank earned 12% each.

Outlook for Wednesday:-

· Markets to open gap-up on very positive global markets and the bounce looks already started yesterday. Too many shorts in the system can feed a good rally.

· We can look forward to 17000-17500 in this rally. But as we have crashed from 21000 levels on the Sensex, the upcoming rally may not be as fast as the previous one. Supply is going to come from higher levels. So one is advised to watch for profit-taking opportunities and buy back later to lessen the cost of stock.

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.

DAILY REPORT FOR 18 MARCH, 2008

NIFTY: - Open 4745 High 4745 Low 4482 Close 4503 (-242 points)

P/E 19.62 P/B 4.84 Adv 1 Dec 49

Supp 4450/4360/4305 Res 4585/4650/4760

SENSEX: - Open 15326 High 15326 Low 14738 Close 14809 (-951 pts)

Supp 14700/14500/14380 Res 14960/15230/15340

Below 15000 now:-

· Stocks plunged to the lowest in almost seven months after the Fed cut its discount rate at an emergency meeting. Sensex felt the global heat and closed down by 951 points.

· ICICI Bank was the top loser with 13% fall. Reliance Industries fell to its lowest in 6 months.

Statistics:-

· BSE Vol Rs 5722 Cr Breadth Adv 282 Dec 2404 Upper Circuit 49 Lower Circuit 574

· NSE Vol Rs 12925 Breadth Adv 63 Dec 1143 F&O Vol Rs 40058

· Top Gainers: - Hind Unilever

Top Losers: - ICICI Bank, HDFC, Hindalco, HCL Tech, REL

· FIIs sold Rs 658 Cr and MFs bought Rs 211 Cr in Cash Market. Foreign Investors sold Rs 492 Cr in Index and Stock Futures. FIIs OI in Index F&O Rs 33675 Cr and in Stock F&O Rs 22005 Cr.

· Total OI 62212 Cr (-3727 Cr) PCR at 0.85

· Nifty shed 1% OI. Basis -4.05

· OI Added:- Minifty 16%, AIA 370%, Bajaj Holding 22%, EKC 69%, Orchid 9%, YesBank 15%

· OI Shed:- Balrampur 8%, BEL 10%, Cairn 9%, Crompton 9%, HCC 8%, J&K 20%, Naukri 22%, Renuka 10%, RNRL 9%, RPL 8%, SAIL 10%, Titan 8%, UniPhos 8%, Wipro 8%

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

Global Markets:-

Most US stocks fell but Dow Jones recovered from a drop of 194 points to finish higher, led by JP Morgan’s biggest gain in almost two months. ICICI Bank, HDFC Bank and Satyam Comp were major losers among Indian ADRs.

Outlook for Tuesday:-

· 14500-14600 is a very strong support on the Sensex and a good bounce is awaited. We can add Asian Electronics, GT Offshore, ONGC and Orchid Chem to the stock list. Time is good for committing money to this market, invest in good scrips and we will always be rewarded for our patience.

· Today is the last day for sun-outage and we will be having normal market timings from tomorrow.

· Now our stock list - Ranbaxy, Maruti, Cairn, Bata, Purvankara Projects, Amtek Auto, Suzlon, Mundra Port, Renuka Sugar, Asian Electronics, GT Offshore, ONGC, Orchid Chem.

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.

DAILY REPORT FOR 17 MARCH, 2008

NIFTY: - Open 4623 High 4758 Low 4607 Close 4745 (+122 points)

P/E 19.72 P/B 4.81 Adv 40 Dec 10

Supp 4640/4580/4450 Res 4800/4850/4890

SENSEX: - Open 15467 High 15798 Low 15331 Close 15760 (+403 pts)

Supp 15600/15440/15200 Res 15880/16070/16200

Some buying support:-

· Good buying was seen as breadth improved and Sensex closed up by 403 points. All the BSE indices were positive.

· Inflation reached 5.11% for week ending March 1 compared to 5.02% in the previous week.

Statistics:-

· BSE Vol Rs 5914 Cr Breadth Adv 1214 Dec 1458 Upper Circuit 92 Lower Circuit 254

· NSE Vol Rs 13587 Breadth Adv 620 Dec 584 F&O Vol Rs 40184

· Top Gainers: - REL, DLF, PowerGrid, Ster, Unitech

Top Losers: - Bharti Airtel, Hero Honda, M&M, Nalco, Maruti

· FIIs sold Rs 358 Cr and MFs bought Rs 100 Cr in Cash Market. Foreign Investors bought Rs 518 Cr in Index Futures and sold Rs 78 Cr in Stock Futures. FIIs OI in Index F&O Rs 34764 Cr and in Stock F&O Rs 23747 Cr.

· Total OI 65932 Cr (+1581 Cr) PCR at 0.92

· Nifty shed 4% OI. Basis +1.15

· OI Added:- Bajaj Hind 8%, CanBk 8%, EduComp 10%, EssarOil 12%, Federal Bank 14%, HDIL 8%, IndiaInfo 10%, J&K 13%, Jet 21%, Nucleus 41%, PFC 8%, Renuka 11%, Tulip 10%

· OI Shed:- Minifty 20%, Brigade 13%, ICICI Bank 8%, Voltas 18%

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

Global Markets:-

Dow Jones closed down by 195 points as Bear Stearns said that it had to draw on short-term financing from the Fed, through JP Morgan after its liquidity “deteriorated significantly”. The stock of Bear Stearns lost 47% in a day. MTNL was the worst performing Indian ADR with 8% drop. Patni Comp gained by 2%. Asian markets have opened in the negative.

Outlook for Monday:-

· The week is characterized by a lot of events – Fed Meet, Adv Tax figures, UPA-Left meet for Nuclear Deal. Sun-outage will also come to an end on 18^th March and in addition to all these, it is a truncated week because last 2 days are holidays. Market can become a lot volatile.

· The bounce did come on Friday despite bad inflation figures but bad global markets can give us a lower opening today. A fall below Thursday lows is not ruled out in the morning. But the bottom is near and we, as investors, should take benefit of that. Stocks that can bounce quickly are Ranbaxy, Maruti, Cairn, Bata, Purvankara Projects, Amtek Auto, Suzlon, Mundra Port, Renuka Sugar.

· As we have come below a lot of technical supports, the recovery may not be fast. That is why one is advised to buy in tranches and in cash.

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.