DAILY REPORT FOR
NIFTY: - Open 4768 High 4815 Low 4620 Close 4800 (+29 points)
P/E 20.47 P/B 5.03 Adv 29 Dec 21
Supp 4740/4690/4660 Res 4850/4925/4995
SENSEX: - Open 15684 High 15998 Low 15362 Close 15923 (-51 pts)
Supp 15750/15600/15330 Res 16060/16200/16430
Great bounce from 4620 support:-
· We did open negatively on weak global sentiment and selling continued until 4620 came on the Nifty. But after the sun-outage period ended, buying emerged in Metals and Oil-Gas stocks. Selective Bank stocks too witnessed some demand.
· Sensex was down more than 600 points at one point of time, but Reliance Petro, ONGC, Cairn and Bharti Airtel gave a lot of support and finally we closed just 51 points down.
· Though Sensex closed flat, Capital goods stocks witnessed sharp selling as L&T, BHEL were top losers.
· BSE Vol Rs 6895 Cr Breadth Adv 749 Dec 1915 Upper Circuit 67 Lower Circuit 420
· NSE Vol Rs 16449 Breadth Adv 371 Dec 827 F&O Vol Rs 42042
· Top Gainers: - RPL, Bharti Airtel, Cairn, Bajaj Auto, Tata Steel
Top Losers: - LT, BHEL, Glaxo, Siemens, Maruti
· FIIs sold Rs 1248 Cr and MFs bought Rs 758 Cr in cash market. FIIs sold Rs 851 Cr in Index and Stock Futures.
· Total OI 65787 Cr (+1735 Cr) PCR at 1.01
· Nifty OI was almost unchanged. Basis -16.10
· OI Added:- NiftyMidcap50 860%, BankIndia 65%, CorpBank 34%, DLF 8%, HDIL 7%, IDFC 18%, Kotak Bank 10%, MahLife 17%, Redington 13%, RelCap 11%, SAIL 8%, SterlingBio 19%, Tulip7%, UniPhos 12%
· OI Shed:- Minifty 6%, Bajaj Auto 10%, Bharti Airtel 5%, ColPal 10%, Indian Bank 4%, J&K Bank 9%, Jet 8%, JPAssoc 5%, NagarConst 7%
Indian ADRs: - http://tinyurl.com/33m7dx
US Stocks fell for a 3rd day led by a plunge in financial shares, on speculation earnings estimates will prove to be too high as the economy slows and credit concerns spread. Dow ended the day at 11740 down by 153 points getting very close to the last swing level of 11634.
Outlook for Tuesday:-
· We may open flat to negative today but yesterday’s pullback rally is expected to continue after that. We have tested the support levels both on the Sensex and Nifty. Sensex didn’t go below previous low of 15332 made on 22nd January this year. Nifty has tested the support at 4620.
· This pullback rally, if continues, can take us towards 4925 at least. We need to sustain lows of yesterday.
· Guj NRE Coke (150):- Buy around 140-144 SL 135 Target 170-173
· Sesa Goa, Suzlon and DLF are looking good and can bounce to give good short-term returns.
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.