DAILY REPORT FOR 3 MAY, 2007

NIFTY: - Open 4082 High 4097 Low 4029 Close 4088 (+4 pts)

P/E 19.48 P/B 5.33 Adv 32 Dec 18 Vol Rs 7571 Cr

EMA20 3994 EMA50 3926 EMA100 3879

Supp 4065/4040/4010 Res 4131/4155/4198

SENSEX: - Open 13823 High 13901 Low 13694 Close 13872 (-36 pts)

EMA20 13636 EMA50 13467 EMA100 13349

Supp 13770/13700/13640 Res 14040/14130/14250

Good recovery from support levels in late trade:-

A subdued opening was followed by sideways trend until 1.30 pm. But buying emerged in heavyweights like RCom, Bharti Airtel and selective bank stocks to take us upward towards closing hours. We closed just 36 points down on the Sensex although at one point in time we were down more than 200 points. Hind Lever and ICICI Bank were top losers on results below expectations and equity dilution worries. Bank stocks had a mixed day, but SBI and PNB recovered smartly from lows. Special buying candidates were Tech stocks. Tech Mahindra spurted 7% and Patni 4%. TCS and Infosys also saw good buying interest. Volumes were expectedly lower ahead of a 2-day holiday. Breadth was good.

Adv 635 Dec 407 Unch 32

Top Gainers: - GAIL, RCom, Hero Honda, TCS, Sterlite Industries

Top Losers: - ICICI Bank, Hind Lever, Cipla, Bharti Airtel, BPCL

FII trading activity: - Buy Rs 1330.45 Cr Sell Rs 1770.96 Cr Net Sell Rs 440.51 Cr (Provisional for 30 April 2007)

Indian ADRs: - http://tinyurl.com/33m7dx

Outlook for Thursday:-

We have recovered well on Monday and today global cues are also positive. Market is expected to open positively. Buying will be witnessed in Tech, Cement and selective Auto stocks. Maruti April sales figures are impressive. Tata Motors numbers are also good. So 4-wheeler stocks may see some buying whereas 2-wheelers numbers are not so exciting so they may remain subdued.

Nifty has good support around 4065-4055 breaking which would mean some caution. We will see higher levels as long as we remain above this level.

Results today: -

Century, Century Enka, Colgate, HDFC, IFCI, Orchid Chem, Varun Ship

Catch them falling:-

Dr Reddys Labs (708):- Accumulate the stock for investment purpose for a target of 850-870. Short term players can look for a target of 760-770 with SL below 690.

Short term picks:-

India Cement (177):- Buy for target of 195-200 in 15-20 days time period.

Tata Elxi (317):- Buy between 310 and 314 with SL 300. It should target 350-360.

Tata Chem (218):- 210-213 is a very good support level. Buy for target of 232-236.

Trading Pick:-

SBI (1102):- Buy for target of 1127-1132 intraday. One can keep SL at 1089

BHEL targets seven-fold increase in overseas business http://tinyurl.com/28yeh2

Patel Engg to enter power generation http://tinyurl.com/ywfz37

Inflation to come down soon http://tinyurl.com/2t3maa

Why a strong Rupee is not a threat to IT companies http://tinyurl.com/2ryzhr

Bajaj Auto likely to take up de-merger on May 17 http://tinyurl.com/2namu5

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.

DAILY REPORT FOR 15 FEBRUARY, 2007

NIFTY: - Open 4045 High 4057 Low 3965 Close 4047 (dn 3 pts)

P/E 19.47 P/B 5.15 Adv 29 Dec 21 Vol Rs 8879 Cr

EMA20 4103 EMA50 4016 EMA100 3866

Supp 4000/3944/3895 Res 4075/4110/4140

SENSEX: - Open 13990 High 14037 Low 13805 Close 14010 (dn 81 pts)

EMA20 14219 EMA50 13922 EMA100 13383

Supp 13890/13800/13670 Res 14095/14175/14300

What happened on Wednesday:-

Markets opened gap-down in the morning but recovered somewhat during the day. Metal stocks bounced back as Nalco and Hindalco were among highest gainers on the Nifty. Banks faced most of the selling on the back of CRR hike by RBI. Finally we finished where we started.

Top Gainers: - Nalco, MTNL, Bharti Airtel, Hindalco, RCom

Top Losers: - OBC, SBI, HDFC Bank, ICICI Bank, Maruti

FII trading activity: - Buy Rs 2493.37 Cr Sell Rs 2658.01 Cr Net Sell Rs 164.64 Cr (Provisional for 14 February 2007)

Indian ADRs: - http://tinyurl.com/33m7dx

F&O Hints:-

Stocks that added Open Interest: - Guj Amb Cem, Zee Tele, UTI Bank, Ultratech, JSW Steel, Sesa Goa, Karnataka Bank, Maruti, IFCI

Stocks that lost OI: - RPL, Bharti Airtel, Hind Const, Sun TV, Cairn, Kotak Bank, Auro Pharma, Bajaj Hind

Outlook for Thursday:-

We have chased support levels and we have closed well too. The stage is set for a bounce back but for that we require strong buying which is just not emerging from last 4-5 days. We have to cross crucial levels known as resistances; we have to see Up Closings for confirming strength.

There is news in the media that our markets contain money of terrorists. That news can affect the stock markets in a negative way, but the impact may be limited only to small companies as those are the ones which can be manipulated.

US Markets were positive and all ADRs closed very strongly in the upward region. Asian markets are trading firm.

FMCG stocks like Colgate, Hind Lever and ITC continue to look very attractive.

Reliance group stocks have shown strength. So they should move up when we see some recovery. Also IT companies are not much affected by interest rate changes, so they can perform if market is going down only because of interest rate hikes.

Trading Picks:-

BHEL (2320):- Supp is at 2300/2280. Buy for target of 2400

L&T (1614):- Supp 1600/1580. It can target 1650/1685

Indian economy on course http://tinyurl.com/2sf9ms

What makes China tick http://tinyurl.com/3buoaq

Wockhardt to double hospitals http://tinyurl.com/34j2ko

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.

DAILY REPORT FOR 14 FEBRUARY, 2007

NIFTY: - Open 4069 High 4133 Low 3998 Close 4045 (dn 14 pts)

P/E 19.45 P/B 5.15 Adv 16 Dec 34 Vol Rs 10010 Cr

EMA20 4109 EMA50 4015 EMA100 3862

Supp 3985/3943/3885 Res 4120/4195/4250

SENSEX: - Open 14168 High 16364 Low 13958 Close 14091 (dn 99 pts)

EMA20 14241 EMA50 13919 EMA100 13371

Supp 13930/13665/13530 Res 14210/14375/14540

What happened on Tuesday:-

We witnessed a very volatile day. It was like a yo-yo the whole day and market players were forced to ponder about how the closing would be i.e. UP or DOWN. First we saw panic to take us to 14013 levels and then strong bounce back, just to break the lows once again and go below psychological levels of 14000. But again there was a final bounce-back to close just 14 points down on the Nifty and almost 100 points on the Sensex.

Top Gainers:- Zee Tele, Bajaj Auto, GAIL, ONGC, Bharti Airtel

Top Losers:- VSNL, Jet Airways, Hindalco, RCom, L&T

FII trading activity:- Buy Rs 2585.42 Cr Sell Rs 2970.53 Cr Net Sell Rs 385.11 Cr (Provisional for 13 February 2007)

Indian ADRs :- http://tinyurl.com/33m7dx

F&O Hints:-

Stocks that added Open Interest :- Guj Amb Cem, UTI Bank, Zee Tele, Orchid, L&T, IFCI

Stocks that lost OI:- ICICI Bank, Jindal Steel, JSW Steel, SRF, Essar Oil, JStainless, RPL, Crompton Greaves, Federal Bank, Escorts, Hindalco, Satyam Comp, Bajaj Auto

Outlook for Wednesday:-

Initially consider 3985 and 3943 as crucial supports on the Nifty. The same levels on the Sensex are 13930 and 13860-13880. It must not be cut and we must not close below this region. If that happens, the fall can get bigger in near future.

But this looks distant and some morning panic is possible because of CRR hike. Banks may open gap down. But the CRR hike looks like discounted by the market already and we should recover from the panic situation.

Global cues are not so strong to give any indication. Just Wipro and MTNL ADRs closed in the positive yesterday. All others were down.

Catch them falling:-

FMCG stocks like ITC, Hind Lever, Colgate have not seen much of selling in this fall and can be picked for short term bounce. Other stocks to buy are Larsen & Toubro (1593/1580), Infosys(2260/2230), Dr Reddy(710-715), Tcs(1220/1190), Maruti(870), Beml(1055-1070), Bhel(2250-2270). Investors can buy them. (The levels in brackets show short term supports and they should be used as guidelines and not as exact touching points)

RBI hikes CRR http://tinyurl.com/2e7afo

TCS opens joint venture in China http://tinyurl.com/33hyb5

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.

DAILY REPORT FOR 3 JANUARY, 2007

NIFTY: - Open 3966 High 4017 Low 3965 Close 4007

Supp 3993/3975/3945 Res 4030/4050/4080

SENSEX: - Open 13828 High 13981 Low 13797 Close 13942

Supp 13900/13830/13720 Res 14015/14095/14200

What happened on Tuesday:-

Markets greeted the year 2007 with gains of 155 points on the Sensex. We opened firm and stayed that way all day. There was very good buying in IT and Auto stocks. Smart movers were Satyam Comp, M&M, Bajaj Auto, VSNL and Maruti. Non-index stocks also witnessed very good interest. Nifty once again closed above 4000 yesterday. The only concerning thing was Volumes. They were pretty low as compared to recent past. Though FIIs were net sellers to the tune of Rs 200 Cr(Prov Fig), the gross buy-sell figures were very low.

What shall we witness on Wednesday:-

Previous All time high for Sensex is 14035 and for Nifty it is 4047. We can challenge that in near term. For today, 3987-3992 is good support and we can target 4030-4040 in short term. As volumes are low, stock-specific approach is recommended. We should concentrate on cash stocks.

Where’s the money:-

GIPCL(64) is near a breakout at 65 and can target 73-76 in short term.

Bharti Shipyard(369) It looks like a breakout on charts and it can return 10-12% in weeks to come.

Catch them falling:-

ITC(177) The stock hasn’t performed at all in the recent rally. But it can give good returns from these levels. Buy for investment as well as short term.

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.

DAILY REPORT FOR 2 JANUARY, 2007

NIFTY: - Open 3972 High 3992 Low 3960 Close 3966

Supp 3955/3942/3928 Res 3975/3985/4005

SENSEX: - Open 13873 High 13929 Low 13770 Close 13787

Supp 13730/13670/13570 Res 13830/13890/13980

What happened on Friday:-

Markets opened up but could not hold on to gains and kept moving in Green and Red. Finally we closed down 59 points on the sensex. There were some major gainers like VSNL, ABB. They both witnessed very good buying yesterday. SAIL, M&M and Jet Airways some other smart gainers. Guj Amb Cem, Hind Lever, MTNL were the top losers on the Nifty.

What shall we witness on Tuesday:-

Last week we saw both Sensex and Nifty regaining strength. We closed 315 points up on the sensex on weekly basis. A fall until 3900-3880 should be healthy. We can again look up after chasing those levels. But we should look at stocks more than the index as the action looks concentrated into stocks. This Tuesday is the first trading of calendar year 2007. Oct-Jan Quarter results will be out this month. So it is going to be an action-packed month. Auto numbers should be out in a day or two. So those stocks will be in action. Call rates hit 19% last week. That means Banks are scrambling for cash. This can be a bad news for the banking sector and they may correct on this news.

Where’s the money:-

BPCL (337) The stock should be bought around 328-332 and it can target above 350 levels in short term.

Gesco Corp(878) Very short term traders can think of buying this stock. It can target 930-940 levels. The returns should be in the region of 6-7% in very short term. But keeping own Stop loss is recommended. Support level is at 840-850.

Catch them Falling:-

Tata Motors(900) has given a breakout last week and it should target near 1000 levels very soon.

Punj Lloyd(1032) The stock looks nice on charts. It should accumulated. The target can be around 1200-1250 which converts to 15-20% returns from these levels also.

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.