DAILY REPORT FOR 7 NOVEMBER, 2007

NIFTY: - Open 5847 High 5957 Low 5759 Close 5786 (-61 points)

P/E 25.31 P/B 6.06 Adv 20 Dec 30

Supp 5710/5655/5540 Res 5860/5900/5975

SENSEX: - Open 19688 High 19919 Low 19337 Close 19400 (-190 pts)

Supp 19200/19050/18700 Res 19600/19770/20030

RPL and RNRL continue to lead, but this time on the downside:-

· Markets opened up but corrected slowly to end at 190 points down on the Sensex. RPL lost 17%. RNRL was down just 9% but the scrip had lost 25% intraday from day-high.

· Volumes climbed - Rs 23764 Cr in spot market and F&O Vol at Rs 82952 Cr.

· Breadth was negative though selling was not across the board – BSE Adv 1269 Dec 1708 Unch 85 NSE Adv 399 Dec 695 Unch 34

· FIIs bought meagre Rs 7 Cr in cash market as per Provisional Figures whereas DIIs bought Rs 206 Cr. FIIs were buyers in index futures worth Rs 255 Cr and sellers in Stock futures worth Rs 494 Cr.

· Major Open Interest change: - Amtek Auto (47%), PFC (45%), CNX100 (25%), Sterlite Ind (21%), Nifty Midcap 50 (17%), RPL (17%), JPHydro (-22%), Gescocorp (-10%), RNRL (-17%), BEML (-15%),

Total OI 91638 Cr (-2%) PCR at 1.17

Top Gainers: - GAIL, Hindalco, BHEL, Bajaj Auto, Nalco

Top Losers: - RPL, Siemens, RCom, L&T, Tata Motors

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

Outlook for Wednesday:-

· American markets were strong as Dow Jones appreciated by 117 points overnight. But Indian Tech ADRs were down, Infosys and Wipro were down 6% each. HDFC Bank gained 3%.

· Our markets are expected to open firm and early pullback is expected towards 5860 and 5900 on the Nifty.

· Selling from higher levels is not ruled out. 5700 is a good support from where we bounced last time. Below that we can test 5655 and 5540 quickly.

· This correction is not expected to be fast as we will move to lower levels slowly. Stock-specific action will continue. BHEL and Gesco Corp look good.

· Kirloskar Oil Engines (158):- The stock can target 180-185 in short term. Buy with 147 as SL.

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 6 NOVEMBER, 2007

NIFTY: - Open 5931 High 5948 Low 5819 Close 5847 (-85 points)

P/E 25.57 P/B 6.13 Adv 11 Dec 39

Supp 5775/5710/5640 Res 5895/5935/5975

SENSEX: - Open 20009 High 20009 Low 19502 Close 19590 (-385 pts)

Supp 19500/19200/19050 Res 19710/19830/20250

A mild correction:-

· Sensex ended 385 points down as ONGC, ICICI Bank and L&T weighed down on the indices. Bharti Airtel recovers some of last week’s losses.

· Volumes were higher - Rs 22800 Cr in spot market and F&O Vol at Rs 77646 Cr.

· Breadth was positive as stock-specific movement continued – BSE Adv 1569 Dec 1418 Unch 75 NSE Adv 542 Dec 555 Unch 31

· FIIs sold Rs 1093 Cr and DIIs bought Rs 648 Cr in spot market. FIIs were sellers in Derivatives market too as they sold Rs 588 Cr in stock and index futures.

· Major Open Interest change: - LT (36%), RPL (32%), JPHydro(28%), Sterlite Ind(23%), Canara Bank(14%), Rajesh Exp(14%), BEML (-26%), Crompton Greaves (-17%), Adlabs (-15%), Corp Bank (-14%), APIL (-12%), IOB (-12%).

Total OI 93182 Cr (+3%) PCR at 1.19

Top Gainers: - Bharti Airtel, Tata Power, Hind Petro, Unitech, PNB

Top Losers: - ONGC, ICICI Bank, L&T, Infosys, Sterlite Inds

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

Outlook for Tuesday:-

· Markets to open flat after yesterday’s small correction. 5775 can act as a support for bounce-back. 5935 and 5975 are strong resistance going up.

· In case 5775 gets broken, we can see levels of 5710 and 5650 quickly.

· Stock-specific action will continue as intense selling is not seen yet.

· Patni (349):- Buy for target of 440-450 in 3-4 months time.

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 5 NOVEMBER, 2007

NIFTY: - Open 5854 High 5944 Low 5714 Close 5932 (+66 points)

P/E 25.94 P/B 6.21 Adv 29 Dec 21

Supp 5850/5800/5710 Res 5975/6015/6100

SENSEX: - Open 19364 High 20025 Low 19255 Close 19976 (+251 pts)

Supp 19750/19540/19260 Res 20030/20240/20450

Bulls win the day’s battle:-

· We opened gap down and moved sideways the whole day but buying emerged in late trade as banks led the way. SBI gained more than 8% when government announced the rights issue for the bank. Sensex closed 251 points higher as we once again touched the 20K mark.

· Volumes were not great - Rs 20054 Cr in spot market and F&O Vol at Rs 76145 Cr.

· Breadth was negative at start but improved with the market – BSE Adv 1504 Dec 1478 Unch 79 NSE Adv 539 Dec 556 Unch 30

· FIIs sold Rs 1230 Cr in spot market and DIIs bought Rs 444 Cr (Provisional figures). Foreign investors sold in Derivatives market too as they sold net Rs 1408 Cr in both stock and index futures market.

· Major Open Interest change: - HCC(28%), BOI(25%), Guj Alkali(22%), Rel Cap(23%), Sterlite Ind(28%), L&T(13%), Nicolas Pir(-12%), Nagar Const(-9%), IVRCL Infra(-10%). Total OI 90662 Cr (+5%) PCR at 1.18

Top Gainers: - SBI, Tata Power, REL, HDFC Bank, RPL

Top Losers: - Bharti Airtel, GAIL, HCL Tech, Nalco, Hero Honda

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

Outlook for Monday:-

· 5710 provided very good support on Friday and from there we saw more than 200 point rally in the Nifty. Even if we register a new high now, 6100 may provide some resistance. The same is 20450 for the Sensex.

· The risk-reward ratios do not favour aggressive buying at this point of time, so one needs to play the market with unleveraged positions. Keeping good cash levels is advised.

· Short-term players can consider 5850 as a good support. SBI, BHEL and Infosys may outperform.

Power capacity addition in shortfall in first half of 2007-08 http://www.thehindubusinessline.com/2007/11/05/stories/2007110551250100.htm

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 NOVEMBER, 2007

NIFTY: - Open 5903 High 6011 Low 5837 Close 5866 (-34 points)

P/E 25.65 P/B 6.15 Adv 15 Dec 35

Supp 5830/5710/5650 Res 5910/5980/6080

SENSEX: - Open 20130 High 20204 Low 19634 Close 19724 (-113 pts)

Supp 19560/19200/19050 Res 19860/20030/20250

Fed Rate cut could not stop markets from falling:-

· Opening was strong but gains didn’t last long as supply came from higher levels. We could not close above 20k for the Sensex. Auto, Realty and FMCG were major losers. Banks were gainers.

· Volumes were large - Rs 28476 Cr in spot market and F&O Vol at Rs 99734 Cr.

· Breadth was negative from early trading – BSE Adv 1089 Dec 1900 Unch 71 NSE Adv 292 Dec 805 Unch 27

· FIIs bought small Rs 74 Cr in Cash market and DIIs too were buyers of just Rs 56 Cr (Provisional figures). FIIs sold Index Fut worth Rs 177 Cr and bought Rs 1123 Cr Stock Fut.

Top Gainers: - ONGC, RPL, LT, ICICI Bank, RCom

Top Losers: - VSNL, Bharti Airtel, Hind Unilever, Maruti, MTNL

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

Outlook for Friday:-

· Market showed a lot of volatility yesterday intraday and such a thing denotes weakness. We are not sustaining higher levels as closing past 20K is still pending. One needs to be in cash as a top may be near somewhere. Even if one goes wrong, one can re-enter the market again as cash will be there.

· American markets headed down yesterday night on the back of poor earnings and financial woes. Asian markets too have opened lower.

· The Fed has clearly stated that this may be the end of rate cuts in the near term as they have to balance between economic growth and inflation.

· Indian markets are expected to open lower and fresh buying should be avoided for time-being as we head into a weekend. 5710 is the support for the Nifty whereas 19000 can be the same for the Sensex. But much lower levels are also possible in case of some bad news.

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 1 NOVEMBER, 2007

NIFTY: - Open 5868 High 5952 Low 5861 Close 5900 (+32 points)

P/E 26.01 P/B 6.15 Adv 28 Dec 21 Unch 1

Supp 5830/5740/5625 Res 6040/6100/6270

SENSEX: - Open 19827 High 19984 Low 19735 Close 19837 (+54 pts)

Supp 19700/19560/19200 Res 20030/20240/20450

Volatility before the Fed meeting:-

· It was a day for non-index stocks as blue chips remained subdued. Jindal Steel and Power was up more than 20%. Century Enka, Str Optical, Nestle were other winners. Closing was just 54 points up on the Sensex.

· Volumes were expectedly lower - Rs 22675 Cr in spot market and F&O Vol at Rs 71090 Cr.

· Breadth was a concern – BSE Adv 1536 Dec 1437 Unch 86 NSE Adv 541 Dec 553 Unch 27

· Institutional Investors bet on Fed rate cut and bought Indian Equity. FIIs bought Rs 198 Cr and DIIs were buyers worth Rs 444 Cr. FIIs hedged equity exposure by selling Rs 582 Cr in Stock Futures. They remained small buyers in Index Fut worth Rs 45 Cr.

Top Gainers: - RPL, REL, PNB, Ranbaxy, Unitech

Top Losers: - MTNL, Hind Unilever, Zee Enter, VSNL, BHEL

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

Outlook for Thursday:-

· The Fed has cut its interest rate by 25 bps. It was quite an expected action and US stocks advanced as Dow Jones closed by 137 points up. A firm opening is anticipated today in Indian markets as well on the back of this news.

· 20450 for the Sensex and 6100 for Nifty can be achieved in this rally. Support for the same is at 19600 and 5830 respectively. A closing past 20000 is needed for maintaining strength of this rally. Stock-specific action is expected.

· SCI (240):- Buy for target of 300 and above. SL can be kept at 220.

· ING Vysya (287):- The stock has broken out and can target 340-350 levels. It is a good buy around 275-280 SL 260.

(Keep SL in short-term trades)

Fed lowers its rates http://www.bloomberg.com/apps/news?pid=20601087&sid=aKrtVlepFjRQ&refer=home

Tough steps to check foreign inflows likely http://economictimes.indiatimes.com/Tough_steps_to_check_foreign_inflows_likely/articleshow/2506915.cms

Dr Reddy's eyes cos with branded generics presence http://economictimes.indiatimes.com/News_by_Industry/Dr_Reddys_eyes_cos_with_branded_generics_presence/articleshow/2506636.cms

GSPC may sell 30% equity in KG block http://www.livemint.com/2007/11/01002248/GSPC-may-sell-30-equity-in-KG.html

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.