Wednesday, August 13, 2008


NIFTY (4552 -68 pts)

Supp 4525/4460/4400 Res 4580/4630/4665

SENSEX (15212 -291 pts)

Supp 15080/14870/14570 Res 15310/15420/15580

Review of the previous session:-

  • Markets opened higher but soon slipped into the red. Profit-taking was witnessed in Banking and Auto stocks as the Sensex closed down by 292 points. Metals were major draggers.

  • Industrial output growth rose in line with expectations to 5.4% y-o-y in June from 4.1% in May, led by manufacturing. Both consumer and capital goods output growth rebounded.

  • 39 new scrips added in the F&O segment of NSE. Prominent names include – ABG Ship, Akruti, DCHL, Everonn, GSPL, IBReal, MIC, MindTree, MLL, MonnetIspat, Opto, Sintex, Srei Infra, Thermax, Uco, Voltamp

  • BSE Breadth 1100 Adv-1556 Dec NSE Breadth 392 Adv-831 Dec Upper Circuit -159 Lower Circuit –92

  • BSE Vol Rs 5874 Cr NSE Vol Rs 13926 Cr F&O NSE Vol Rs 52461 Cr

  • FIIs sold Rs 687 Cr in cash market and MFs sold 7 Cr provisionally. In F&O, FIIs sold Index Futures worth Rs 766 Cr and sold Stock Futures worth Rs 212 Cr. Their Outstanding position in Futures is 33939 Cr and Options is 21286 Cr.

  • Additional Data:- Gold $814.60/oz Nymex Crude $113.01/bbl

F&O observations:-

  • Long build-up – ChambalFert, Jet, Crompton, IRB, Biocon, NagarFert

  • Short build-up – Tata Steel, Aban, Jindal Steel, HDIL, GEShip, Axis, Kotak, Tata Chem, ICICI Bank

  • OI 77133 Cr (-29 Cr) Nifty OI Down 1% PCR 1.30 (from 1.37)

Outlook for 13 August, 2008:-

  • Today, Prime Minister Manmohan Singh's Economic Advisory Council (EAC) will present India's 'Economic Outlook 2008-09', making projections on where the economy is headed against the backdrop of rising inflation. Also SEBI board will take up the review of curbs imposed on P-Notes and KYC norms for FIIs. Finance Minister to meet PSU bankers today.

  • Dow Jones closed down by 139 points as financial stocks were hit by more credit losses.

  • Our markets to open weak. Nifty can test 4460 and 4400 in this fall itself. Today’s meeting of SEBI and economic outlook can dictate the further trend of the market.

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

HDIL (486):- It is breaking down and one can short it for target of 435-445 with SL 525

Catch them falling (Ideas for Investment):-

No Picks

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.

1 comment:

Analyst said...

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