Sunday, July 27, 2008


NIFTY (4311 -122 pts)

Supp 4250/4200/4160 Res 4385/4450/4500

SENSEX (14274 -502 pts)

Supp 14130/14050/13820 Res 14350/14480/14610

Review of the previous session:-

  • Indices opened negatively on the back of weak global sentiment. Banks were major losers. Both FIIs and Mutual Funds turned big sellers.

  • BSE Breadth 1154 Adv-1460 Dec NSE Breadth 480 Adv-721 Dec Upper Circuit -163 Lower Circuit –106

  • BSE Vol Rs 5866 Cr NSE Vol Rs 14742 Cr F&O NSE Vol Rs 53163 Cr

  • FIIs sold Rs 565 Cr in cash market and MFs sold 302 Cr. In F&O, FIIs sold Index Futures worth Rs 1166 Cr and sold Stock Futures worth Rs 883 Cr. Their Outstanding position in Futures is 37004 Cr and Options is 25659 Cr.

  • Additional Data:- Gold $926.80/oz Nymex Crude $123.26/bbl

Outlook for 28 July, 2008:-

  • Nifty support exists at 4250 which can be tested before any up move happens.

  • Sensex has to cross 14610 in next 2 trading sessions otherwise we may see more correction in days to come.

  • It is advisable to remain in good cash levels (50-60%). Market players await the RBI monetary policy on Tuesday and after that only we can think of some clear direction.

Ideas for Trading (for short-term position):-

No Picks

Catch them falling (Ideas for Investment):-

No Picks

Results Today: - Aarti Drugs, Adani Enter, Alembic, Andhra Sugar, BoI, BPCL, Blue Star, Bosch, Britannia, Dabur, Dena, Dish TV, EID Parry, EIH Ltd, Escorts, Genus Power, GlaxoSmith, Glenmark, Havells, HDFC Bank, Hindalco, ICSA, IOB, Jain Irrigation, Kotak Bank, LT, MIC, Monnet Ispat, Mundra Port, Neyveli, Nirma, Nitin Fire, ONGC, Panacea Bio, REC, Shiv Vani, Sterlite Ind, Sun Pharma, Sun TV, Tata Comm, Tata Tea, TVS Mot, Welspun Ind, Wockhardt, Wyeth

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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