DAILY REPORT FOR
NIFTY: - Open 4796 High 4888 Low 4732 Close 4865 (+65 points)
P/E 20.75 P/B 5.10 Adv 32 Dec 18
Supp 4825/4750/4700 Res 4925/4995/5080
SENSEX: - Open 15778 High 16168 Low 15739 Close 16123 (+199 pts)
Supp 16000/15760/15600 Res 16750/17070/17180
Pullback rally:-
· Indices opened weak but immediately buying support came from battered down heavyweights. Sensex closed up nearly 200 points. Volumes rose and breadth was also positive.
· Realty stocks were major gainers with DLF gaining more than 10%. Power and Capital goods stocks also saw buying interest.
Statistics:-
· BSE Vol Rs 7271 Cr Breadth Adv 2110 Dec 605 Upper Circuit 423 Lower Circuit 139
· NSE Vol Rs 15732 Breadth Adv 1034 Dec 176 F&O Vol Rs 38176
· Top Gainers: - Suzlon, Tata Power, GAIL, LT, Siemens
Top Losers: - Sun Pharma, Satyam Comp, Tata Motors, Maruti, Hero Honda
· FIIs continue to sell Indian Equity even after 2 days of pullback. They sold Rs 539 Cr and MFs bought Rs 303 Cr in cash market. FIIs bought Rs 641 Cr in Index Futures and bought Rs 41 Cr in Stock Futures.
· Total OI 67407 Cr (+1620 Cr) PCR at 0.99
· Nifty shed 3% OI on short-covering. Basis -9.35
· OI Added:- BankNifty 8%, Bajaj Hind 7%, Balrampur 9%, Cipla 9%, CorpBank 9%, GBN 39%, HDFC 8%, IVRPrime 18%, J&K 83%, Jet 11%, MahLife 11%, Naukri 32%, NW18 10%, NIIT 19%, Nucleus 50%, Redington 9%, Satyam 10%, Sobha 37%, ShreeCem 18%, Syndi 12%, Triveni 21%
· OI Shed:- ACC 8%, APIL 6%, Bhusan 8%, Biocon 9%, HDIL 8%, Renuka 11%, Tulip 22%
Indian ADRs: - http://tinyurl.com/33m7dx
Global Markets:-
Dow Jones rallied 416 points after the Federal Reserve said it will pump $200 bn into the financial system to shore up banks clobbered by mortgage-related losses. Indian ADRs shot up as Tata Comm, HDFC Bank and ICICI Bank rose more than 10% each.
Outlook for Wednesday:-
· Our markets are expected to open gap-up and a lot of short-covering can happen today. Rally can extend above 5000 levels but supply from around 5080 is not ruled out.
· Mid-cap stocks are also expected to perform but short-term traders need to book profits at regular intervals. Stocks that participated in the rally on day one may not do the same on day two also.
· Jindal Saw (800):- Buy for target of 860-870. Keep SL of 780
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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