DAILY REPORT FOR 30 NOVEMBER, 2006
NIFTY: - Open 3923 High 3952 Low 3920 Close 3928
Supp 3915/3900/3880 Res 3948/3966/3980
SENSEX: - Open 13649 High 13712 Low 586 Close 13617
Supp 13560/13500/13440 Res 13690/13765/13820
What happened Yesterday:-
Markets opened very strong but could not hold on to their gains. Stocks like ACC, SAIL, Sun Pharma, Grasim outperformed the market and rose sharply whereas Hind Petro, Cipla, BPCL lost some ground. Global markets came back strongly yesterday. Dow and Nasdaq fared well and were up almost 1 % each.
What shall we witness on Thursday:-
Today is F&O expiry day for November month contracts. The global cues are extremely positive today. As all the global markets are performing well, our markets are expected to open very strong today. There must be a huge f&o short build-up which will infuse further rally in the markets. When all the world markets are performing, we see some euphoria building up in the markets. And this can happen here also. Up till this time we were looking at a systematic bull market. Now we may see gap-up openings and then again carrying the gains for the whole day and also additions at the end. The old days of crazy rallies may come back where speculators are plenty and investors have to a bit shy. Markets are not still expensive but investors should now calculate their own risks and then take a bet.
Where’s the money:-
ABB(3520):- Buy this stock for short term. The stock should target 3650/3800 from these levels. SL can be kept around 3430 levels.
Alstom Projects(431):- Buy with SL 420 and target 460 and above.
Cipla(249):- Buy with SL 235 for target of 270-275 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.
Thursday, November 30, 2006
Tuesday, November 28, 2006
DAILY REPORT FOR 29 NOVEMBER, 2006
NIFTY: - Open 3966 High 3966 Low 3912 Close 3922
Supp 3902/3865/3842 Res 3936/3956/3976
SENSEX: - Open 13691 High 13691 Low 13577 Close 13602
Supp 13550/13480/13450 Res 13630/13670/13740
What happened Yesterday:-
Markets opened lower on weak global cues. Markets remained down the whole day. Still there were gains in some index stocks such as Glaxo, Sun Pharma, SBI. The biggest loser on nifty was HCL Tech which was down almost 4%. Other losers were SAIL, Satyam, Reliance Communication. Tech stocks were the biggest losers yesterday. FIIs net sold Rs 439 Cr as per provisional figure yesterday.
What shall we witness on Wednesday:-
We have seen Nifty rallying from 2596 levels in mid-June till now up to 3977. It has been a 1381 point rally on the nifty itself. It corresponds with exactly 5000 points on the Sensex. FIIs have become sellers after many days in cash markets. The Open Interest is also at a high level again after May-2006. And after such a large position in short in F&O market, markets are not able to move up. So investors are advised to take some profits and stay in good cash levels.
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.
NIFTY: - Open 3966 High 3966 Low 3912 Close 3922
Supp 3902/3865/3842 Res 3936/3956/3976
SENSEX: - Open 13691 High 13691 Low 13577 Close 13602
Supp 13550/13480/13450 Res 13630/13670/13740
What happened Yesterday:-
Markets opened lower on weak global cues. Markets remained down the whole day. Still there were gains in some index stocks such as Glaxo, Sun Pharma, SBI. The biggest loser on nifty was HCL Tech which was down almost 4%. Other losers were SAIL, Satyam, Reliance Communication. Tech stocks were the biggest losers yesterday. FIIs net sold Rs 439 Cr as per provisional figure yesterday.
What shall we witness on Wednesday:-
We have seen Nifty rallying from 2596 levels in mid-June till now up to 3977. It has been a 1381 point rally on the nifty itself. It corresponds with exactly 5000 points on the Sensex. FIIs have become sellers after many days in cash markets. The Open Interest is also at a high level again after May-2006. And after such a large position in short in F&O market, markets are not able to move up. So investors are advised to take some profits and stay in good cash levels.
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 28 NOVEMBER, 2006
NIFTY: - Open 3975 High 3975 Low 3949 Close 3969
Supp 3962/3945/3922 Res 3990/4010/4025
SENSEX: - Open 13716 High 13799 Low 13716 Close 13774
Supp 13725/13670/630 Res 13810/13860/13930
What happened Yesterday:-
Markets opened strong as expected and remained that way. Cement stocks like ACC, Gujarat Ambuja Cement gained 3% each. Other gainers were Jet Airways, Bharti Tele, Tata power. Dr Reddy, Zee tele, HPCL were top losers on the Nifty losing 2% each. Midcap stocks have started performing now. Stocks like Nagarjuna construction, Pidilite, ENIL saw good buying yesterday.
What shall we witness on Tuesday:-
The bull run should continue. The targets on nifty for today are 3990/4025.
Nifty All time high is 3976 and it was not able to cross it yesterday. But once we do that, we will see the above targets very quickly. F&O expiry is the major trigger that should help this market reach new highs.
Where’s the money:-
Tata Motors(829):- The stock looks nice on charts. Supp 824/816 Buy for target of 845/853
Dishman Pharma(211):- Buy this stock for short term with SL below 197 and target 229/265.
Bajaj Auto(2656):- Buy around 2630 with SL 2608 and target 2670/2690.
ITC(181):- Buy with SL of 178 for target 184/186
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.
NIFTY: - Open 3975 High 3975 Low 3949 Close 3969
Supp 3962/3945/3922 Res 3990/4010/4025
SENSEX: - Open 13716 High 13799 Low 13716 Close 13774
Supp 13725/13670/630 Res 13810/13860/13930
What happened Yesterday:-
Markets opened strong as expected and remained that way. Cement stocks like ACC, Gujarat Ambuja Cement gained 3% each. Other gainers were Jet Airways, Bharti Tele, Tata power. Dr Reddy, Zee tele, HPCL were top losers on the Nifty losing 2% each. Midcap stocks have started performing now. Stocks like Nagarjuna construction, Pidilite, ENIL saw good buying yesterday.
What shall we witness on Tuesday:-
The bull run should continue. The targets on nifty for today are 3990/4025.
Nifty All time high is 3976 and it was not able to cross it yesterday. But once we do that, we will see the above targets very quickly. F&O expiry is the major trigger that should help this market reach new highs.
Where’s the money:-
Tata Motors(829):- The stock looks nice on charts. Supp 824/816 Buy for target of 845/853
Dishman Pharma(211):- Buy this stock for short term with SL below 197 and target 229/265.
Bajaj Auto(2656):- Buy around 2630 with SL 2608 and target 2670/2690.
ITC(181):- Buy with SL of 178 for target 184/186
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.
Sunday, November 26, 2006
DAILY REPORT FOR 27 NOVEMBER, 2006
NIFTY: - Open 3945 High 3966 Low 3935 Close 3951
Supp 3932/3920/3900 Res 3968/3990/4020
SENSEX: - Open 13670 High 13768 Low 13665 Close 13703
Supp 13640/600/550 Res 13780/13830/13920
What happened on Friday:-
Markets opened flat but remained up almost the whole day. Markets consolidated in a narrow band. Still there was stock-specific action. Zee, Tata steel, Dr Reddy gained by around 2% each. Siemens was the biggest loser on Nifty. It was down 8% as there was news about some embezzlement of money by top officials. The stock fell like mad on Friday on the bad news. But that case is an old case and Siemens India should not get affected much here.
What shall we witness on Monday:-
Markets have consolidated as expected. Market should open very strong as we have seen good amount of consolidation at these levels. We should see good bit of rally from here. With many people short in the markets, the target on Nifty for this week should be 4050-4100. F&O expiry for November month will give upside to this market. We have to buy on dips. There is good rollover in nifty. Weekend pressure also didn’t correct the market. With many people short, we will see huge rally in the markets. Banking and Auto sector will see good buying this week. With China facing aluminium shortage and metal prices shooting up, metal stocks can zoom up. Those stocks have seen good consolidation on charts. They look very good for the next month’s settlement.
Where’s the money:-
Nagarjuna Construction(191.55):- The stock looks good from short term perspective. Buy around 190 with Stop loss below 180 for the target of 220 and more.
ONGC(857):- Buy around 848-852 for target of 865/874 with SL below 840
Tata Motors(826):- Buy with SL of 817 for target of 832/838.
CIPLA(264):- The stock looks very good on charts. It can be bought for long term keeping targets as 425-450.
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.
NIFTY: - Open 3945 High 3966 Low 3935 Close 3951
Supp 3932/3920/3900 Res 3968/3990/4020
SENSEX: - Open 13670 High 13768 Low 13665 Close 13703
Supp 13640/600/550 Res 13780/13830/13920
What happened on Friday:-
Markets opened flat but remained up almost the whole day. Markets consolidated in a narrow band. Still there was stock-specific action. Zee, Tata steel, Dr Reddy gained by around 2% each. Siemens was the biggest loser on Nifty. It was down 8% as there was news about some embezzlement of money by top officials. The stock fell like mad on Friday on the bad news. But that case is an old case and Siemens India should not get affected much here.
What shall we witness on Monday:-
Markets have consolidated as expected. Market should open very strong as we have seen good amount of consolidation at these levels. We should see good bit of rally from here. With many people short in the markets, the target on Nifty for this week should be 4050-4100. F&O expiry for November month will give upside to this market. We have to buy on dips. There is good rollover in nifty. Weekend pressure also didn’t correct the market. With many people short, we will see huge rally in the markets. Banking and Auto sector will see good buying this week. With China facing aluminium shortage and metal prices shooting up, metal stocks can zoom up. Those stocks have seen good consolidation on charts. They look very good for the next month’s settlement.
Where’s the money:-
Nagarjuna Construction(191.55):- The stock looks good from short term perspective. Buy around 190 with Stop loss below 180 for the target of 220 and more.
ONGC(857):- Buy around 848-852 for target of 865/874 with SL below 840
Tata Motors(826):- Buy with SL of 817 for target of 832/838.
CIPLA(264):- The stock looks very good on charts. It can be bought for long term keeping targets as 425-450.
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.
Friday, November 24, 2006
DAILY REPORT FOR 24 NOVEMBER, 2006
NIFTY: - Open 3955 High 3977 Low 3934 Close 3945
Supp 3925/3905/3885 Res 3965/3975/3998
SENSEX: - Open 13625 High 13740 Low 13625 Close 13707
Supp 13620/13560/13470 Res 13770/13850/13915
What happened yesterday:-
Markets opened on a positive note. But could not sustain much higher levels and came down to close flat. Some volatility was witnessed in ending hours of the trading session. Top gainer on Nifty was Glaxo up 5 %. HDFC Bank and Zee tele were other major gainers. Siemens saw profit-booking as it was down 3%. Satyam Comp and Bharti Tele also lost some ground. It was a breather for the rally as we closed a bit down after 3 consecutive days of strong rally.
What shall we witness on Friday:-
Yesterday’s flat closing was just a breather that a market always needs after a strong rally. It is better that we consolidate at these levels so that we can again gain strength to go forward. For today, 3925 should be good support. Below that we may see correction around 3900. A move past 3965 can take nifty to 3975 and 3998. But we should see some consolidation between 3925 and 3975. Stock-specific action should continue.
Where’s the money:-
Apollo Hospital(464):- Buy with SL 453 for target of 485/505
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.
NIFTY: - Open 3955 High 3977 Low 3934 Close 3945
Supp 3925/3905/3885 Res 3965/3975/3998
SENSEX: - Open 13625 High 13740 Low 13625 Close 13707
Supp 13620/13560/13470 Res 13770/13850/13915
What happened yesterday:-
Markets opened on a positive note. But could not sustain much higher levels and came down to close flat. Some volatility was witnessed in ending hours of the trading session. Top gainer on Nifty was Glaxo up 5 %. HDFC Bank and Zee tele were other major gainers. Siemens saw profit-booking as it was down 3%. Satyam Comp and Bharti Tele also lost some ground. It was a breather for the rally as we closed a bit down after 3 consecutive days of strong rally.
What shall we witness on Friday:-
Yesterday’s flat closing was just a breather that a market always needs after a strong rally. It is better that we consolidate at these levels so that we can again gain strength to go forward. For today, 3925 should be good support. Below that we may see correction around 3900. A move past 3965 can take nifty to 3975 and 3998. But we should see some consolidation between 3925 and 3975. Stock-specific action should continue.
Where’s the money:-
Apollo Hospital(464):- Buy with SL 453 for target of 485/505
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.
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