Market View

Another session marked with increased volatility with the indices depicted large intra-day movements. It was a positive start to the week with the benchmark index gaining 150 points in the opening minutes. However the journey was short lived as bears hammered the indices to wipe the early gains and take the indices into negative zone by 200 points.

A power packed rally had the indices help to gain back the positive momentum with R.Power leading the rally and moving above its issue price at Rs450 after its liberal bonus annoucement. NTPC , Reliance Energy, tata Power too rose on buying support. Cement sector made a smart rise in late trades with ACC & India Cement gaining by 4% each.

Markets rebounded sharply from lower levels with an allround participation. the indices gained almost 500 points from the day's low to close with a triple century gain of over 300 points at 17650. Nifty on the other hand closed at 5200 mark, up by 90 points. The reversal has been sharp with the BSE index gaining 500 points and Nifty almost 200 points from its lows.

Markets have cleared the short term hurdles at 5170-5175. Technically markets have generated a Buy Signal and could head towards 5350-5375 mark very soon. Expect a pre-budget rally and accumulate stocks of your choice. MEtals, power & Cement sectors look technically attractive for a rise.

Market View :

Global cues once again dominated proceedings at Dalal street with the indices opening on a strong note. US markets received a positive push after Goldman Sachs reported better than expected earnings. Sensex opened higher by 200 points moving to highs at 19350 levels. However that became the high for the day as Bears once again attacked the markets erasing all the gains taking the indices lower and lower for the day. Sensex moved below the 19K level by mid-afternoon session down by 100 points. However some heavy buying coupled with short covering lifted the sensex back to positive territory in the last hour of trades. SEnsex managed to close with marginal gains for the day at 19091 up by 12 points while the Nifty gained 9 points for the day to close at 5751.

Markets depicted high volatility moving like a see-saw. Most of the sectoral indices moved in tandem with the benchmark index fluctuating between positive and negative territory. Reality , Auto and healthcare posted marginal losses while FMCG, IT & Metals closed with 0.50% gain each. Small-caps stocks were in action managing to post gains of 0.82% due to which market breadth remained in the positive. Advances were at 1883 while Declines were at 1030. FII’s continued to be net sellers s in the equity markets as per provisional data for Rs. 1454 crs while Domestic Funds were net buyers for RS. 350 crs. FII’s had net insflows in the F&O segment as well amounting to Rs. 461 crs.

Markets snapped the 4-day losing streak to gain from lower levels and close into positive range. Technically this indicates a reversal in trend and markets may provide a pull-back rally. Nifty could recover from current levels and move to 5900+ levels in coming days. Remain positive in the markets taking yesterday’s lows as support levels.

MARKET OUTLOOK - 11th DEC. 2007
Market likely to open and trade firm today. Sensex has immediate resistance at 20075 and support at 19800.Sensex may touch 20500 if close/sustain above 20075.Sensex may touch 19500 if close/sustain below 19800.

NIFTY(5960.60)- Resistance-6010,6059 Support-5917,5874

Intraday Recommendations:
Buy NDTV SL 376 TGT 406-15-30.
Buy KESORAM ABOVE 648 TGT 684-707.
Buy GAIL ABOVE 499 TGT 512-517
Buy PRAJIND above 222 sl 216 tgt 230-33.
BUY KIRLOSKAR FRRROUS @ 65.65 SL 63.5 TGT 69-70

F&O Recommendation: (POSITIONAL)
BUY DEC FUT-KOTAKBANK ABOVE 1330 TARGET 1360,1380 SL 1300

Happy Trading…..All the best…..

Market Look - 7-12-07

Market is expected to open on a positive note today following the strong global indices. Trade long in Nifty if it sustains above 6020 levels for upside targets of 6070 and 6150 levels. Alternatively one can assume long positions from lower supports of 5950 and 5900 levels with a final intraday stop loss placed below 5870 levels.

NIFTY(5954.70)- Resistance-6015,6075 Support-5907,5859

Intraday Recommendations:

Buy Bharti @ 940 sl 928 Tgt 1020
Buy Empee Distilleries @ 311.50 Sl 309 Tgt 319

Buy Ranbaxy @ 397 sl 389 Tgt 450

F&O Recommendation: (POSITIONAL)

BUY DEC FUT-RPL ABOVE 234 TARGET 240,244 SL 229

All the best.......Happy Trading.......

MARKET OUTLOOK FOR 5TH DEC

The market is expected to open on a flat to positive note today; traders are advised to assume long positions if Nifty sustains above 5840 levels for upside targets of 5900 and 5950 levels. Alternatively, they can assume long positions from lower supports of 5800 levels with a final stop loss placed at 5770 levels.

Intraday Recommendations:

Buy Hindalco @195 sl 190 Tgt220

Buy Bata above 260 sl 225 Tgt 280-315

Buy Tata motors above 746 Sl 739 Tgt 760

STOCK TO WATCH

RNRL, ANSAL INRA, WWIL, MRPL, 3IINFOTEC, ICICI BANK, YES BANK, RIL, GAMMON.