DAILY REPORT FOR 15 OCTOBER, 2007

NIFTY: - Open 5525 High 5549 Low 5402 Close 5428 (-96 points)

P/E 24.67 P/B 5.93 Adv 7 Dec 41 Unch 1

Supp 5390/5340/5260 Res 5465/5520/5550

SENSEX: - Open 18794 High 18844 Low 18336 Close 18419 (-395 pts)

Supp 18250/18050/17880 Res 18530/18660/18850

5550 making nervous:-

· Markets opened flat and went up but the 3-day rally was stopped when supply was found at 5550 level. We crashed almost 150 points intraday on the Nifty and closed 96 down. Reliance Industries and SBI pulled down the market largely.

· Volumes were massive at Rs 22767 Cr in spot market and F&O Vol at Rs 90419 Cr.

· Breadth was quite negative– BSE Adv 1182 Dec 1793 Unch 71 NSE Adv 324 Dec 764 Unch 27

· FII buying Rs 315 Cr in Cash market. It is smallish compared to recent past. Domestic Inst Inv sold heavily Rs 883 Cr. FIIs sold Rs 645 Cr in Index Fut where as they were small buyers Rs 10 Cr in Index Opt. Stock Futures selling was large at Rs 716 Cr.

Top Gainers: - ONGC, Rel Energy, Hindalco, M&M, GAIL

Top Losers: - Suzlon, SBI, Tata Power, L&T, VSNL

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

Outlook for Monday:-

· We could not breach 5550 on the upside on Friday. This week it seems that we will move between 5500 to 5250 range.

· 5190 should provide a good support in a sharp correction. As results start coming in, stock-specific movement should be visible. 5600 should be the resistance when we break 5550.

· VSNL (524):- The stock has broken out and can target above 600 levels. Buy with SL below 490.

(Keep SL in short-term trades)

Results today – Axis Bank, BOC, ETC, IFCI, Indian Bank, Jaiprakash Asso, Orbit Corp, Petronet LNG, RIIL, Sasken Comm, TCS, Uco Bank, Welspun Guj

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 12 OCTOBER, 2007

NIFTY: - Open 5439 High 5532 Low 5424 Close 5524 (+83 points)

P/E 25.13 P/B 6.03 Adv 40 Dec 10

Supp 5485/5420/5340 Res 5550/5570/5610

SENSEX: - Open 18696 High 18832 Low 18536 Close 18814 (+155 pts)

Supp 18730/18620/18430 Res 18925/19030/19210

Good recovery in late trade:-

· Indices were flat for most of the day but buying emerged quite sharply in late trade as Sensex closed up by 155 points with the help of ONGC and Auto stocks.

· Volumes were higher at Rs 15866 Cr in spot market and F&O Vol at Rs 72261 Cr.

· Breadth was not so encouraging as the indices – BSE Adv 1477 Dec 1484 Unch 84 NSE Adv 598 Dec 474 Unch 42

· FII buying Rs 794 Cr in Cash market. Domestic Inst Inv sold Rs 420 Cr. FIIs were buyers in Index F&O too to the tune of Rs 1430 Cr. They sold Rs 1053 Cr Stock futures.

Top Gainers: - VSNL, M&M, Sterlite Inds, MTNL, SAIL

Top Losers: - Satyam Comp, Infosys, HCL Tech, TCS, Wipro

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

Outlook for Friday:-

· After 3 consecutive days of rally, we meet resistance around 5550 for the Nifty. The strength at which we are progressing in this rally, it should be crossed. Support exists at 5485 below which some intraday correction is not ruled out.

· Hind Unilever (225.75):- Buy for target of 244-250.

· Mphasis (297):- The stock is consolidating nicely and it is one of those software stocks which have not cracked with depreciating Dollar. Buy for target of 340-350. It can be bought with SL 275.

(Keep SL in short-term trades)

Results today – Aban Offshore, Exide, Geojit, Gruh Fin, HDFC Bank, IGL, Tata Metaliks

Patni sale in sight as two brothers take backseat http://economictimes.indiatimes.com/Patni_sale_in_sight_as_two_brothers_take_backseat/articleshow/2449409.cms

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 11 OCTOBER, 2007

NIFTY: - Open 5328 High 5454 Low 5328 Close 5441 (+114 points)

P/E 24.78 P/B 5.94 Adv 34 Dec 16

Supp 5400/5365/5260 Res 5480/5522/5550

SENSEX: - Open 18473 High 18703 Low 18436 Close 18658 (+378 pts)

Supp 18590/18430/18320 Res 18750/18900/19030

More Gains:-

· Tech stocks and Capital Goods helped the Sensex gain another 378 points. Infosys rose 4%. BHEL, L&T, ABB rallied.

· Volumes were higher at Rs 21246 Cr in spot market and F&O Vol at Rs 79786 Cr.

· Breadth was flat– BSE Adv 1456 Dec 1511 Unch 75 NSE Adv 563 Dec 518 Unch 32

· FIIs bought Rs 1462 Cr equity in spot market whereas domestic institutional investor sold Rs 696 Cr. FII’s continue to buy Index Derivatives, which was worth Rs 531 Cr. They sold stock futures Rs 643 Cr.

Top Gainers: - Tata Power, RPL, L&T, VSNL, Suzlon

Top Losers: - Hind Petro, Nalco, BPCL, Dr Reddy, MTNL

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

Outlook for Thursday:-

· Infosys results will be out this morning. Any positive surprise there and we will see strong buying in technology stocks. 3I Infotech (152), which is still consolidating around the recommended price only, should target 164 and 185 as it breaks out above 158.

· One should keep in mind that markets can remain in overbought mode for long times. 17K, 18K or even 19K is just a milestone for the Sensex. As long as there is liquidity, we will move up for sure. But things start getting problematic when a rally is assumed. Consider 18300 as a short-term support level below which some selling can happen.

· DLF (894):- Buy for target of 975-990. Keep SL around 865.

(Keep SL in short-term trades)

Results today – Infosys, Idea, Container Corp, Mastek, Abhishek Ind, Solar Explosives

http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=307172 Infosys Q2 Guidance

http://economictimes.indiatimes.com/RBI_calls_for_curbs_on_PN_PE_inflows/articleshow/2447474.cms RBI calls for curbs on PN, PE inflows

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 10 OCTOBER, 2007

NIFTY: - Open 5062 High 5348 Low 5000 Close 5327 (+242 points)

P/E 24.26 P/B 5.82 Adv 48 Dec 1 Unch 1

Supp 5300/5260/5230 Res 5375/5450/5500

SENSEX: - Open 17402 High 18327 Low 17287 Close 18280 (+788 pts)

Supp 18080/17950/17800 Res 18400/18650/19000

Biggest rally in life:-

· Sensex had a massive bull-run intraday of more than 1000 points as it closed well above 18000 for the first time ever. Nifty too closed above 5300.

· Volumes were good at Rs 18456 Cr in spot market and F&O Vol at Rs 82362 Cr.

· Breadth was quite negative in recent past – BSE Adv 621 Dec 2364 Unch 56 NSE Adv 137 Dec 955 Unch 20

· FIIs bought Rs 1416 Cr equity in spot market whereas domestic institutional investors sold Rs 529 Cr. FII’s bought Rs 1668 Cr in Index F&O. They sold small Rs 66 Cr in Stock Futures.

Top Gainers: - Rel Energy, RCom, Tata Power, Maruti, Zee Enter

Top Losers: - Sun Pharma

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

Euphoria starts:-

· Yesterday’s move is a breakout and we can see 5450-5500 as the immediate target for the Nifty. 5300 and 5260 will act as strong supports. Consistent support from ONGC and other heavyweights can even make us surpass this target.

· As political uncertainty disappears for some days, market-players will watch quarterly results closely. If Tech stocks can deliver good results, it will add further fuel to this rally.

· Buy Amtek Auto (371):- The stock can target 420-430 in short term. SL 357

· Buy Nicolas Piramal as it can reach 330-340 in days to come.

(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 9 OCTOBER, 2007

NIFTY: - Open 5186 High 5249 Low 5024 Close 5085 (-100 points)

P/E 23.16 P/B 5.55 Adv 11 Dec 38

Supp 5055/5024/5000 Res 5130/5167/5250

SENSEX: - Open 17901 High 17982 Low 17322 Close 17491 (-281 pts)

Supp 17400/17280/17140 Res 17600/17730/17880

What happened on Monday:-

· Firm opening was followed by selling from higher levels.

· Volumes were at Rs 15996 Cr in spot market and F&O Vol at Rs 69842 Cr.

· Breadth was quite negative in recent past – BSE Adv 621 Dec 2364 Unch 56 NSE Adv 137 Dec 955 Unch 20

· FIIs continue to buy equity. They bought Rs 1459 Cr in cash market in yesterday’s trade even if broader market was down. Domestic Institutions sold Rs 142 Cr. In Derivatives market, FIIs sold Rs 1679 Cr in Index Futures and Options. They bought Stock Futures worth Rs 395 Cr.

· Most of the sectors were down including Banks, Metals but Tech stocks stood out. Patni and Satyam were top gainers in that space.

Top Gainers: - Satyam Comp, VSNL, Wipro, BHEL, Infosys

Top Losers: - Zee Enter, Tata Steel, ACC, RPL, SAIL

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

Outlook for Tuesday:-

· Political uncertainty is not good for markets and that is why we see volatility. One small statement from a minister and we can go deep down and another one can take us to new highs. Traders need to watch markets closely instead of being aggressive for time-being.

· Nifty is moving sideways between 5250 and 5000. Clear trend will emerge only after we breach any of these levels. Stock-specific movement should continue until we are moving sideways.

· Maruti, M&M, IDBI are near supports and if they can sustain current levels, some rally can be expected from them.

· ONGC (940):- Buy near 920-930 for target 1020-1030. SL can be kept around 900.

(Keep SL in short-term trades)

N-Deal timeline: Dates to watch out for http://www.business-standard.com/common/storypage_c_online.php?leftnm=11&bKeyFlag=IN&autono=28459

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.