DAILY REPORT FOR 21 SEPTEMBER, 2007

NIFTY: - Open 4734 High 4760 Low 4721 Close 4747 (+15 points)

P/E 21.49 P/B 5.29 Adv 27 Dec 22 Unch 1

Supp 4720/4700/4670 Res 4765/4786/4810

SENSEX: - Open 16341 High 16415 Low 16261 Close 16347 (+25 pts)

Supp 16250/16180/16050 Res 16420/16490/16560

Real estate zooms:-

· It was a very calm day for the indices as Sensex moved between just 150 points after a 650 pt rally on Wednesday.

· Volumes were very good at Rs 14770 Cr in spot market and F&O Vol Rs 58327 Cr.

· Breadth was on the negative side– BSE Adv 1319 Dec 1652 Unch 60 NSE Adv 435 Dec 632 Unch 38

· FIIs bought Rs 1627 Cr Equity in Cash Market, Domestic Institutions Net Sellers Rs 564 Cr; FIIs bought Rs 425 Cr in Index and sold Rs 115 cr in Stock futures.

· Real Estate stocks gained quite a bit. DLF rallied 5%, Indiabulls Real Estate and Unitech were up 9% and 12% respectively. Tech stocks were down as Rupee hit a fresh high against the US Dollar. Wipro, Tech Mah, Infosys, Patni and HCL Tech were all down.

Top Gainers: - Hind Petro, Rel Energy, Siemens, M&M, BPCL

Top Losers: - Wipro, HCL Tech, Infosys, GAIL, TCS

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

Outlook for Friday:-

· We have gained nearly 250 points on the Nifty in just 3 trading sessions, FII money has again started flowing in. But breadth is not very positive.

· We may consolidate near current levels. 4780 to 4710 may be the range for the Nifty today.

· IVRCL Infra (413):- The stock can target 460-470 levels in short term.

(Keep SL in short-term trades)

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 20 SEPTEMBER, 2007

NIFTY: - Open 4550 High 4739 Low 4550 Close 4732 (+186 points)

P/E 21.42 P/B 5.27 Adv 44 Dec 6

Supp 4710/4690/4670 Res 4745/4775/4815

SENSEX: - Open 15940 High 16335 Low 15940 Close 16322 (+653 pts)

Supp 16240/16195/16130 Res 16370/16450/16510

Bears R.I.P.:-

· Huge gap-up opening was followed by consistent buying in heavyweights like Reliance, ICICI Bank, SBI and many more to take Sensex above 16000 and Nifty above 4700 very comfortably. Sensex was up whopping 657 points.

· Volumes were very good at Rs 16494 Cr in spot market and F&O Vol Rs 68643 Cr.

· Breadth was positive– BSE Adv 1625 Dec 1328 Unch 77 NSE Adv 645 Dec 430 Unch 30

· FIIs bought Rs 2457 Cr Equity in Cash Market, Domestic Institutions Net Sellers Rs 328 Cr; FIIs bought Rs 3281 Cr in Index and Stock futures.

· Sugar stocks became very sweet. Bajaj Hind, Balrampur and Renuka were up more than 20% each.

Top Gainers: - HDFC, HDFC Bank, SAIL, Bharti Airtel, GAIL

Top Losers: - Glaxo, Dabur, MTNL, Nalco, Hind Petro

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

Outlook for Thursday:-

· US Markets continued the rally. The Dow closed 76 points higher. Asian markets are trading flat.

· Our markets are expected to open firm after yesterday’s massive rally. Now it is other heavyweights like L&T, BHEL and ONGC who should take this market higher.

· Intraday corrections are always a possibility at such highs, so intraday traders have to watch out for such developments.

· GDL (139):- The stock can target 152-155 in a week’s time.

(Keep SL in short-term trades)

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 19 SEPTEMBER, 2007

NIFTY: - Open 4494 High 4551 Low 4481 Close 4541 (+47 points)

P/E 20.57 P/B 5.06 Adv 41 Dec 9

Supp 4520/4505/4480 Res 4585/4625/4650

SENSEX: - Open 15547 High 15691 Low 15468 Close 15669 (+165 pts)

Supp 15600/15540/15460 Res 15710/15825/15875

Finally a close above 4535:-

· The opening was hesitating but bulls had the battle under control. Banks and Capital Goods stocks pulled up the Sensex by 165 points. SBI was up nearly 3%.

· Volumes were higher at Rs 10933 Cr in spot market and F&O Vol Rs 45069 Cr.

· Breadth too was quite positive– BSE Adv 1921 Dec 1032 Unch 76 NSE Adv 755 Dec 318 Unch 30

· FIIs bought Rs 23 Cr Equity in Cash Market, Domestic Institutions Net Sellers Rs 232 Cr; FIIs sold Rs 799 Cr in Index and Stock futures.

· Non-index stocks saw huge buying. Raymond and Engineers India were up 20% each. Indus Ind, Adani Enter, Dredging Corp gained more than 10%.

Top Gainers: - Nalco, GAIL, ICICI Bank, Dabur, Suzlon

Top Losers: - Cipla, Wipro, Hind Unilever, Dr Reddy, Ster Inds

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

Outlook for Wednesday-

· Ben Bernanke and Co cut interest rates by 50 bps and gave a boost to global equity markets. Dow Jones vaulted 335 points after the announcement. Asian markets have opened very strong on that note.

· Our markets are expected to open big gap-up and we can see 4620 on the Nifty in morning trade itself.

· Reliance Industries has led from the front from last many days and now focus should shift slowly towards other heavyweights. SBI and ICICI Bank can outperform.

· Hind Unilever (214) Buy for target 224-227 in a week or two. SL 210 (closing basis)

· Buy Siemens (1384):- The stock can target 1350-1360 in next 2-3 days.

(Keep SL in short-term trades)

http://tanmaygopal.blogspot.com/

Fed cuts rates by a half percentage point http://tinyurl.com/2s7bnn

GAIL says to borrow up to $1.72 bln by 2011 http://tinyurl.com/27c2v8

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 18 SEPTEMBER, 2007

NIFTY: - Open 4518 High 4549 Low 4482 Close 4494 (-24 points)

P/E 20.34 P/B 5.01 Adv 19 Dec 31

Supp 4480/4445/4424 Res 4525/4546/4585

SENSEX: - Open 15664 High 15726 Low 15467 Close 15504 (-99 pts)

Supp 15455/15350/15200 Res 15570/16680/15820

Some anxiety before the Fed meet:-

· The opening was a bit bullish but early gains were given up as investors took a cautious stance going into the FOMC meeting on 18-Sep-2007.

· Volumes were lower at Rs 9395 Cr in spot market and F&O Vol Rs 35768 Cr as market participation was low.

· Breadth was somewhat positive– BSE Adv 1509 Dec 1444 Unch 75 NSE Adv 517 Dec 551 Unch 35

· FIIs bought Rs 94 Cr Equity in Cash Market, Domestic Institutions Net Sellers Rs 140 Cr; FIIs sold Rs 1139 Cr in Index and Stock futures.

· IT stocks were major losers. Patni, Rolta and TCS were down more than 2% each. But stock-specific action was not missing as Titan, GMDC, Adani Enter, Century Enka were among top gainers.

Top Gainers: - Rel Energy, Hind Unilever, Suzlon, Zee Enter, MTNL

Top Losers: - TCS, RCom, HDFC, Bharti Airtel, Satyam Comp

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

Outlook for Tuesday-

· American markets were flattish just ahead of the Fed meet today. Asian markets open lower. A rate-cut from the FOMC is expected unanimously but the world markets seem to have discounted the same.

· Crude Oil touches $81 mark, a new all time high for the commodity.

· Indices have remained sluggish in recent past and a strong move is awaited.

· Nagarjuna Construction and Hindustan Construction look good from Med-term viewpoint and can give 10-15% returns.

· Lupin (592) Buy with SL 570 Target 650-660

· Tube Investment (60.80):- The stock can target 72-74 in a month’s time. SL 57

(Keep SL in short-term trades)

Bernanke's Fed faces a key test http://tinyurl.com/2yzyfp

FII holding doubled to 22% in past six years: Citigroup study http://tinyurl.com/2hxlsq

Indian Hotels buys 10% of Orient Express for $211 mn http://tinyurl.com/2zqxks

Lanco pairs with Gulftainer to bid for Rs900 cr project http://tinyurl.com/ype4pp

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 17 SEPTEMBER, 2007

NIFTY: - Open 4530 High 4582 Low 4508 Close 4518 (-10 points)

P/E 20.45 P/B 5.03 Adv 16 Dec 34

Supp 4505/4485/4445 Res 4535/4556/4585

SENSEX: - Open 15713 High 15824 Low 15568 Close 15603 (-10 pts)

Supp 15560/15480/15350 Res 15670/15730/15870

Flat closing after a roaring start:-

· Positive global cues gave us a strong opening but the party didn’t last for long. Sensex topped out at 15824 and gave sharp correction as profit-booking was witnessed in heavyweights like SBI and Reliance.

· Volumes were Rs 12509 Cr in spot market. F&O Vol Rs 47177 Cr.

· Breadth was positive but turned negative in late trade– BSE Adv 1107 Dec 1852 Unch 66 NSE Adv 310 Dec 772 Unch 20

· FIIs bought Rs 1286 Cr Equity in Cash Market, Domestic Institutions Net Sellers Rs 260 Cr; FIIs bought Rs 407 Cr in Index Fut and sold Rs 90 Cr Stock Futures.

· Some stocks did gain handsomely. Alok Inds was up 5%. FDC was up more than 9%.

Top Gainers: - Sterl Inds, ICICI Bank, HDFC Bank, ITC, L&T

Top Losers: - Maruti, ACC, HCL Tech, Cipla, GAIL

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

Outlook for Monday-

· Nifty breached the resistance around 4530-4540 but could not sustain and we lost the intraday gains on Friday. But stock-specific action continued.

· Major support levels are 4424 and 4445. As long as we maintain above them, bulls don’t have much to worry.

· BSE Midcap, BSE Smallcap and NSE Midcap have touched all-time highs whereas Nifty and Sensex fail to do so. Clearly the major market action is taking place in mid-cap and small-cap stocks. But those are mostly momentum stocks and one has to deal in them with speculative mindset as those same stocks can destroy great wealth in times of deep corrections, not to regain in quick time.

· Bata (175) looks like broken out and it can target 240-250 in med-term.

· Biocon, Dr Reddy, Renuka Sug, Nitin Fire look good on graph and one can buy them for short-term gains.

(Keep SL in short-term trades)

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.