Wednesday, March 19, 2008

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.

No comments: