DAILY REPORT FOR 2 JANUARY, 2008

NIFTY: - Open 6136 High 6165 Low 6109 Close 6144 (+6 points)

P/E 27.64 P/B 6.40 Adv 24 Dec 26

Supp 6090/6070/6020 Res 6160/6200/6265

SENSEX: - Open 20325 High 20394 Low 20220 Close 20300 (+13 pts)

Supp 20200/20000/19800 Res 20400/20500/20900

Cautious start to the New Year:-

· Markets gained in early trade but drifted down thereafter to close just 13 points up on the Sensex. Power stocks rallied with Rel Energy and Tata Power as leaders.

· Volumes were lower - Rs 16595 Cr in spot market and F&O Vol at Rs 49163 Cr.

· Breadth was positive– BSE Adv 2418 Dec 651 Unch 36 NSE Adv 819 Dec 333 Unch 16

· Top Gainers: - REL, Tata Power, Nalco, ITC, Unitech

Top Losers: - Cairn, Bharti Air, HCL Tech, TCS, Idea

· FIIs bought Rs 461 Cr and DIIs bought Rs 306 Cr in Cash Market. FIIs sold total Rs 325 Cr in stock and index futures.

· Total OI 109516 Cr (+3485 Cr) PCR at 1.29

· Nifty added 2% OI. Premium 12.05 pts

· OI Added:- Albk 12%, Brigade 54%, HOEC 13%, IOB 11%, ITC 12%, J&K 24%, Karnataka Bank 11%, MahLife 11%, MTNL 13%, NagarConst 10%, Naukri 15%, Nucleus 46%, Peninsula 12%, RajeshExpo 20%, RelCap 11%, Tata Motors 12%

· OI Shed:- BEL 7%, HindZinc 6%, IndianBank 7%, Parsvnath 6%, REL 4%, Rolta 5%, Tata Power 8%, WWIL 6%

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

Outlook for Wednesday:-

· Sideways movement has happened for last 3-4 sessions and new positions are getting created with every passing day. Break of 6070 may give some more intraday fall towards 6020.

· Stock-specific movement will continue as long as we are in the range of 6070 to 6200.

· Stock of ONGC is showing good formation on charts and that stock should be watched for knowing Nifty Movement. It can surprise on the upside and then Nifty will go up with it.

· Tata Tea (927):- It should target 1050-1060 in days to come. Buy SL 885.

· MTNL (208):- Buy at 200-204 for target 227-232 in next 3-4 days. Keep SL of 195

· Tata Motors, Mphasis BFL, Bharat Forge, Biocon are other stocks that are looking good on graph and can be bought for quick gains.

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 JANUARY, 2008

NIFTY: - Open 6095 High 6167 Low 6095 Close 6138 (+59 points)

P/E 27.62 P/B 6.39 Adv 34 Dec 16

Supp 6100/6075/6020 Res 6160/6200/6265

SENSEX: - Open 20323 High 20484 Low 20239 Close 20286 (+80 pts)

Supp 20200/20000/19800 Res 20350/20500/20900

Good gains:-

· Markets opened strong and remained that way the whole day. Stock-specific movement was seen as breadth was very positive. Oil stocks contributed on hopes of fuel price hike from the government.

· Cash Volumes were higher - Rs 19135 Cr in spot market and F&O Vol at Rs 46186 Cr.

· Breadth:- Gainers outstripped losers by quite a margin – BSE Adv 2684 Dec 393 Unch 27 NSE Adv 949 Dec 206 Unch 8

· Top Gainers: - BPCL, Bharti Airtel, Tata Power, Idea, Zee Enter

Top Losers: - Nalco, HDFC, Sterlite Ind, Infosys, Ambuja Cem

· FIIs bought Rs 516 Cr and DIIs bought Rs 442 Cr in Cash Market. FIIs sold total Rs 1208 Cr in stock and index futures.

· Total OI 106030 Cr (+5757 Cr) PCR at 1.31

· Nifty added 3% OI. Premium 24.35 pts

· OI Added:- WWIL 30%, KPIT 29%, GBN 20%, Ambuja Cem 18%, NagarConst 17%, Network18 16%, IVR Prime 14%, Edelweiss 13%, HOEC 13%, BongRef 12%, Colgate 11%, Indusind 11%, Patel 11%, ACC 10%, Maruti 10%

· OI Shed:- Balrampur 9%, Parsvnath 8%, MahSeamless 8%, Matrix 6%, Titan 5%

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

Global Markets:-

DJIA was down more than 100 pts overnight as slow economic growth weighed down on the sentiment. MTNL ADR was the top gainer with 3% gain. Patni Comp lost 2%.

Outlook for Tuesday:-

· 20500 is possible resistance for the Sensex and crossing that we can see 20900.

· Nifty can come towards 6075 before next rally happens. Range-bound movement is likely to happen between 6200 and 6075 for today.

· Though breadth is not expected to be as strong as yesterday, stock-specific movement will continue. ACC and GAIL saw some buying yesterday. They can give 3-4% more in a day or two.

· Stocks for 2008:- 3i Infotech, Bombay Dyeing, Dr Reddy, GDL, HT Media, Tata Motors, Tech Mahindra (All stocks are for around 20% appreciation. They look good at current prices and should be accumulated in corrective times also.)

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 31 DECEMBER, 2007

NIFTY: - Open 6079 High 6098 Low 6021 Close 6079 (-2 points)

P/E 27.35 P/B 6.33 Adv 29 Dec 21

Supp 6050/6000/5940 Res 6115/6150/6200

SENSEX: - Open 20158 High 20259 Low 20022 Close 20206 (-9 pts)

Supp 20150/20000/19800 Res 20330/20420/20500

Heavy Metal:-

· Nifty moved sideways the whole day and stock-specific movement was seen. Metals, Realty stocks gained.

· Volumes - Rs 17548 Cr in spot market and F&O Vol at Rs 50436 Cr.

· Market Breadth– BSE Adv 2370 Dec 696 Unch 38 NSE Adv 845 Dec 302 Unch 16

· Top Gainers: - Nalco, Unitech, HCL Tech, Tata Steel, SAIL

Top Losers: - Wipro, Bajaj Auto, Idea, TCS, Bharti Airtel

· FIIs bought Rs 653 Cr and DIIs bought Rs 166 Cr in Cash Market. FIIs sold total Rs 1645 Cr in stock and index futures.

· Total OI 108015 Cr (+7229 Cr) PCR at 1.28

· Nifty added 4% OI. Premium 38.6 pts

· OI Added:- BankNifty 9%, Amtek Auto 42%, Aptech 18%, Arvind Mill 25%, Bajaj Auto 23%, Bharti Airtel 13%, CMC 14%, Edelweiss 15%, GDL 10%, Glaxo 10%, Havells 38%, HOEC 19%, Hotel Leela 15%, IndHotel 14%, Ispat Ind 14%, JPHydro 30%, LITL 10%, MahLife 13%, Mico 22%, NagarConst 9%, Omaxe 10%, ONGC 13%, Orchid 14%, Pantaloon 11%, Parsvanath 15%, Purva 23%, Redington 21%, Shree Cem 34%, Sobha 15%, Sun TV 10%, Tulip 13%, UniPhos 14%, Unitech 13%

· OI Shed:- SCI 8%, Alok 4%, Hind Zinc 4%, Axis Bank 3%, Rolta 4%,

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

Global Markets:-

US Markets were flat as Dow Jones was up just 6 points. NASDAQ was down 2 points. HDFC Bank and ICICI Bank ADRs gained 3% each. Others were flat.

Outlook for Monday:-

· This is the last day of the year, though not the last from the viewpoint of settlement calendar. Market is expected to be stock-specific as NAV propping can happen from various funds.

· Nifty and Sensex have recouped almost all the losses of 3^rd week in December. Short term players can keep SL at 19800 for the Sensex and look forward to 20500 as the target. Surpassing this level can give us a good breakout.

· GDL (162):- The stock has broken out on weekly graph. Buy for target of 200-210 in short-term. SL 150

· ITC (206):- Buy with SL 194 for target 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.

Dear Blog readers,
The Daily Newsletter will not be available from Tuesday, 18 December 2007. It will again be prepared from 31 Dec, 2007 onwards.

DAILY REPORT FOR 17 DECEMBER, 2007

NIFTY: - Open 6056 High 6078 Low 6015 Close 6047 (-11 points)

P/E 27.19 P/B 6.32 Adv 23 Dec 27

Supp 6000/5960/5890 Res 6080/6130/6200

SENSEX: - Open 20108 High 20171 Low 19936 Close 20030 (-73 pts)

Supp 19880/19690/19500 Res 20170/20280/20500

Supply from higher levels:-

· Indices moved sideways for the whole day and finally Sensex lost 73 points weekend selling must have kept investors from creating big positions. Cement stocks were big gainers.

· Volumes were lower - Rs 19307 Cr in spot market and F&O Vol at Rs 61326 Cr.

· Market Breadth– BSE Adv 2182 Dec 869 Unch 41 NSE Adv 720 Dec 420 Unch 13

· Top Gainers: - Glaxo, ACC, CAIRN, Hind Unilever, Ranbaxy

Top Losers: - HDFC, Bharti Airtel, ICICI Bank, Tata Motors, BPCL

· FIIs sold Rs 647 Cr and DIIs bought Rs 105 Cr in Cash Market. FIIs sold total Rs 2144 Cr in stock and index futures.

· Total OI 114945 Cr (+3153 Cr) PCR at 1.24

· Nifty added 5% OI. Premium 24.10 pts

· OI Added:- BankNifty 8%, ACC 11%, Ansal Infra 13%, APIL 17%, Aptech 14%, BEML 11%, Biocon 10%, Crompton Greaves 28%, Edelweiss 15%, Grasim 19%, HOEC 15%, HindZinc 20%, India Cem 16%, ITC 13%, IVR Prime 46%, Jet 17%, JP Hydro 18%, Karnataka Bank 12%, LITL 16%, Lupin 10%, Mahlife 13%, Omaxe 10%, Patel Engg 18%, Satyam Comp 21%, Shree Cem 59%, Sobha 13%, Strides 14%, Tata Motors 11%, Tata Steel 10%, Triveni 13%, WWIL 10%

· OI Shed:- Axis Bank 14%, Bindal Agro 11%, GNFC 9%, Hotel Leela 8%, TTML 12%, Arvind Mill 7%

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

Global Markets:-

American markets corrected on Friday as the Fed failed to assuage recession concerns. Dow Jones was down 178 pts. Wipro ADR was the top loser with around 4% loss. Other Indian ADRs were flattish.

Outlook for Monday:-

· As market is becoming quite stock-specific, only a short-term view of one or two days should be taken. Nifty sustaining above 6000 is bullish and below that level, 5960 is good support.

· Tech stocks look attractive in corrections. Satyam Comp, Prithvi Information and Tech Mahindra can bounce back from current levels.

· Other positive stocks are Asian Ele, Kesoram Ind, Ingersoll and Cairn.

· Prithvi (280):- Buy for target of 310-315. Keep SL at 264

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.