DAILY REPORT FOR 16 NOVEMBER, 2007

NIFTY: - Open 5942 High 5966 Low 5895 Close 5912 (-25 points)

P/E 25.87 P/B 6.20 Adv 18 Dec 32

Supp 5890/5850/5790 Res 5975/6025/6110

SENSEX: - Open 19947 High 19967 Low 19723 Close 19784 (-144 pts)

Supp 19585/19350/19200 Res 19850/20000/20240

REFINED markets:-

· Markets opened flat and remained sideways the whole day to close 144 points down on the Sensex. Refinery stocks were among prominent gainers. Bongaigaon spurted 30%, BPCL and HPCL were up more than 15% each.

· Volumes were good - Rs 21056 Cr in spot market and F&O Vol at Rs 65894 Cr.

· Breadth was good – BSE Adv 1933 Dec 1064 Unch 68 NSE Adv 683 Dec 425 Unch 21

· FIIs sold Rs 152 Cr in spot market and domestic institutions bought Rs 585 Cr. Foreign investors sold in Derivatives market too worth Rs 1526 Cr.

· Major Open Interest change: - Bongaigaon(65%), GescoCorp(34%), CNX100(33%), JPHydro(32%), NagarFert(25%), Skumar(24%), GAIL(23%), IOC(23%), Titan(22%), BalrampurChinni(-40%), Omaxe(-18%), Bajaj Hind(-13%), HindujaTMT(-11%)

Total OI 101032 Cr (+2%) PCR at 1.19

Top Gainers: - BPCL, Hind Petro, Bharti Airtel, Siemens, ITC

Top Losers: - Tata Power, Infosys, REL, Wipro, HDFC Bank

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

Outlook for Friday:-

· Dow Jones closed down by 120 points. HDFC Bank and ICICI Bank ADRs were down 4% each. MTNL was the top gainer with 3% rally.

· Indices are expected to open lower on weak global markets. Sensex has good support between 19200 and 19350. In case we cross 20000, it will confirm the bullishness and we can once again see previous all time high of 20240 being tested. Strong support for the Nifty is at 5770-5790.

· Heavyweights like Reliance, SBI and ONGC have to rally for the markets to test new highs. There are no triggers for rally in the short-run so market players should take a view of 2-3 days only and be stock-specific.

· Axis Bank, RPL and Punj Lloyd look weak and may test lower levels when market corrects.

· Yes Bank (236):- Buy around 230-232 for target of 250. SL 225.

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 NOVEMBER, 2007

NIFTY: - Open 5703 High 5950 Low 5700 Close 5937 (+242 points)

P/E 25.98 P/B 6.22 Adv 49 Dec 1

Supp 5860/5790/5700 Res 5975/6025/6110

SENSEX: - Open 19336 High 19987 Low 19336 Close 19929 (+893 pts)

Supp 19750/19580/19330 Res 20000/20240/20460

Everything rallies:-

· Opening was gap-up on strong global cues and consistent buying was seen the whole day. Just 1 stock – RPL was down among the 50 stocks in Nifty.

· Volumes were higher - Rs 20726 Cr in spot market and F&O Vol at Rs 68270 Cr.

· Breadth was very positive – BSE Adv 2135 Dec 852 Unch 78 NSE Adv 841 Dec 266 Unch 22

· Foreign investors were buyers in cash market Rs 163 Cr and domestic investors too bought Rs 567 Cr. In F&O, FIIs bought index fut worth Rs 2058 Cr and sold stock fut worth Rs 264 Cr.

· Major Open Interest change: - NftyMidCap(49%), APIL(21%), IVRCL Infra(21%), GAIL(19%), MahSeamless(17%), Federal Bank (16%), IOC(16%), PFC(16%), MRPL(15%), BankNifty(-19%), BEML(-17%), EssarOil(-16%), CESC(-14%), Powergrid(-12%)

Total OI 99248 Cr (+3%) PCR at 1.21

Top Gainers: - Nalco, HDFC Bank, PNB, ICICI Bank, VSNL

Top Losers: - RPL

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

Outlook for Thursday:-

· Indices may remain sideways today after breathtaking rally yesterday. 20238 and 6012 are previous all time highs are in touching distance for both the Sensex and the Nifty.

· Market has become quite stock-specific and today also it is expected that way. Mid and Small cap stocks should also perform.

· 5860 should be considered a good support for intraday in Nifty.

· Harrison Mallyalam (86):- The stock can target 103-107 in short term. Buy with 78 as SL.

SEBI board nod for new derivative instruments http://www.business-standard.com/common/storypage_c_online.php?leftnm=11&bKeyFlag=IN&autono=30083

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 NOVEMBER, 2007

NIFTY: - Open 5612 High 5758 Low 5591 Close 5695 (+78 points)

P/E 24.92 P/B 5.97 Adv 31 Dec 19

Supp 5660/5600/5530 Res 5795/5865/5970

SENSEX: - Open 18681 High 19210 Low 18636 Close 19035 (+298 pts)

Supp 18840/18800/18630 Res 19340/19500/19730

POWERful rally:-

· Indices opened lower but after that bulls took the control as Sensex could close up by 298 points. Power and Banking stocks gained.

· Volumes were good - Rs 19646 Cr in spot market and F&O Vol at Rs 67336 Cr.

· Breadth was negative – BSE Adv 1982 Dec 1001 Unch 82 NSE Adv 748 Dec 355 Unch 26

· FIIs sold Rs 332 Cr in Cash Market whereas DIIs bought Rs 264 Cr. Foreign Investors bought Rs 213 Cr in Index Fut and sold Rs 1447 Cr in Stock Fut.

· Major Open Interest change: - Rolta (41%), Matrix Labs (38%), HCC (34%), Adlabs (32%), Syndi Bank (26%), Yes Bank (26%), APIL (25%), Cairn (17%), Crompton Greaves (16%), M&M (16%), Bongaigaon (-21%), JPHydro (-14%), BankNifty (-14%), Ansal Infra (-13%), Essar Oil (-11%), LT (-10%)

Total OI 96237 Cr (+3%) PCR at 1.16

Top Gainers: - NTPC, MTNL, HDFC Bank, LT, ABB

Top Losers: - Wipro, GAIL, M&M, Hindalco, TCS

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

Outlook for Wednesday:-

· Global markets are extremely strong with Dow Jones recovering more than 300 points overnight. Asian markets too are doing very well.

· Our markets to open gap-up on yesterday’s buying and global strength. A closing above 5860 on the Nifty can make the bulls very comfortable. Shorts will be forced to cover and that can take us higher.

· Infosys (1627) and Siemens (1770) are looking good and both can add more than Rs 100 from current levels.

· Gesco Corp (602):- Buy for target of 670-685 in 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 12 NOVEMBER, 2007

NIFTY: - Open 5703 High 5794 Low 5614 Close 5663 (-35 points)

P/E 24.92 P/B 5.97 Adv 14 Dec 35 Unch 1

Supp 5545/5500/5430 Res 5715/5790/5840

SENSEX: - Open 19282 High 19329 Low 18737 Close 18907 (-151 pts)

Supp 18470/18300/17900 Res 19000/19250/19340

First negative closing on a Muhurat Day in 7 years:-

· Sensex zoomed more than 200 points in first 10 minutes of trade but there was no buying support afterwards even if it was an auspicious day. Finally Sensex closed down by 151 points.

Top Gainers: - Hind Petro, BPCL, Suzlon, RPL, RCom

Top Losers: - Wipro, Sun Pharma, ACC, ICICI Bank, Bharti Airtel

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

Outlook for Monday:-

· US Markets have closed very badly on Friday as Dow Jones took a hit of 223 points. Asian markets too are negative.

· So far markets have been correcting slowly and higher levels are not sustaining. Now with global markets weakening, steeper correction may set in. Margin pressures will add fuel to the fire.

· Nifty has good support at 5470-5500 levels and that can be tested in a day or two.

Wockhardt to hive-off innovative R&D business http://economictimes.indiatimes.com/Wockhardt_to_hive_off_innovative_RD_business/articleshow/2533966.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.

The newsletter will not be available on 8th and 9th Nov 2007. It will be prepared from 12 Nov 2007 onwards.