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.

TODAY'S RECOMMENDATIONS-4 DEC

The market is expected to open on flat to positive note today;traders are advised to assume long position if Nifty sustains above 5850 levels for upside targets of 5900 and 5950 levels. Alternatively, the y can assume long position from lower support of 5800 levels with a final stop loss placed at 5780 levels.

NIFTY(5865)- Resistance-5911,5957 Support-5786,5708

Intraday Recommedations:

Buy IFCI @ 106.80 Sl 105 Tgt 111 (Short term Tgt is 127)

Buy Isapat Industries above 55 Sl 54 Tgt 59

Buy IDBI above 167 Sl 163 Tgt 175

Buy Rcom above 720 Sl 710 Tgt 735-738

F&O Recommendation: (POSITIONAL)

BUY DEC FUT-IDFC ABOVE 220 TARGET 226,229 SL 215

STOCKS TO WATCH:

RNRL, ABB, GARWARE OFFSHORE, JP HYDRO , ADLABS, 3IINFOTEC, ICICI BANK, MIND TREE, RIL, PUNJ LLOYD .

MARKET OUTLOOK - 3rd DEC. 2007

Markets are expected to open on a positive note today. Trade long in Nifty at dips from lower supports of 5680 and 5750 levels for upside targets of 5800 and 5850 levels. Nifty has a crucial
resistance placed around the 5950 mark around which investors are advised to book profits .

NIFTY(5762.75)- Resistance-5820,5876 Support-5669,5576
Intraday Recommedations:

Buy Reliance Energy @ 1734 Sl 1728 Tgt 1795

Buy LITL @538 Sl 514 Tgt 560

Buy Praj @195 Sl 193 Tgt 205

Buy IFCI @ 94.55 Sl 93.20 Tgt 99-102

Buy Idea@122 Sl 100 Tgt 128/130

F&O Recommendation: (POSITIONAL)

BUY DEC FUT-RNRL ABOVE 172 TARGET 176,178 SL 169

Book profits at higher levels and stay in cash…..Happy Trading

Weekly Newsletter

2/12/2007 - 8/12/2007

The Bulls ended the month of November on a positive note led by gains in sensex heavyweights despite some huge volatile movements. Markets recovered from lower levels overcoming F&O expiry jitters and uncertainty over the US subprime tensions. Heavy outflow of FII money during the month too failed to dampen the spirits at Dalal street with Domestic Funds providing to infuse fresh funds into the equity markets. Sensex & Nifty both gained 2.70% for the week by 510 points & 154 points respectively to close at 19393 & 5763.

FII’s continued to be net sellers for most part of the week but turned net buyers on the last day of the week. Cummulative figures for the week in the equity segment were marginally in the negative for apprx Rs 135 crs {incl Friday’s positive figures for Rs. 1088 crs}. The Derivatives segment had net inflows for the week for Rs. 4480 crs. Domestic Institutions continued to support markets in form of buying and were buyers for all 5 trading sessions in the last week totaling to almost Rs. 1500 crs.

Crude prices could not touch the magical $100 mark and crashed to lose more than 10% closing at the week’s lows at $88 mark. Crude price have broken crucial support levels and could gain momentum on the higher side above $94-$95 levels.

WORLD MARKETS

Equity markets all around the Globe were boosted by Fed Reserve comments for further interest rate cuts. Major international markets rallied after sentiment improved on Wall Street. Dow Jones registered its largest percentage gain for the year as US stock rebounded on news of Abu Dhabi govt infusing US7.50bn in Citigroup. Asian as well as European markets rallied with most of them posting weekly gains of over 4% each. {except the Shanghai index which closed lower by 3%}

SECTORAL INDICES

Gains were seen in almost all the sectoral indices on the BSE after most of them had taken a hit in the previous week. Auto stocks found fresh buying support after Crude prices declined almost 10% from the record highs. Banking sector gained on optimism of the Fed Reserve will cut interest rates in its forthcoming meeting. Metals were the biggest gainers for the week. The metal index rose by 6.8% on back of strong buying in Steel stocks and Sterlite Inds.{ stock gained 17% }. IT stocks too found buying support rising by 4% for the week. Cement companies were in the news after they announced a Rs 5-10 per bag increase. Reality stocks gained after the Maharashtra govt abolished the Urban Land Ceiling Act and on Land deals in Mumbai fetching some mind-boggling valuations. Oil refinery stocks recovered sharply from lows to close higher for the week with the help of gains from RPL, Essar Oil, Mrpl & Bongaigoan Refn. Sensex gainers for the week included Bajaj Auto +6%, HDFC +10%, Bhel +5%. ACC & Hindalco were the ones dragging the sensex lower.

MID-CAP ACTION

Both the sectoral indices closed at their highest weekly level with gains over 4% for the week. Mid-caps and small-caps were once again amongst the actions with the infusion of 15 new stocks from the mid-cap space in the F&O segment. All the newly introduced stocks were the top gainers in the mid-cap space. Stocks like Everready, WWIL & DCB gained more than 25% for the week . Mid-cap media stocks & steel stocks were in limelight. Mid-caps have outperformed markets and could continue doing so for the coming months.

Markets may consolidate before reaching new heights. Momentum Positive.

Markets lost almost 1700 points in four trading sessions on back of some heavy selling pressure from the FII’s. This along with negative cues from all around the world had the indices depict some volatile movements and head down south. The indices have been moving in a huge trading range between 20K & 18K and have not been able to breach the all time highs at 20208 mark. There have been strong resilience at 20K mark and buying supports coming in at 18200-18300 mark. Global pressures could ease out in coming days which could lend support to the markets. Technically the levels of 18600 & 5500 are very important levels for the BULLS and a breach below this could spell problems & take the markets lower to 17K & 5200 mark. I strongly feel that the correction from 20K to 18K may have been over and markets would be headed to test the new highs once again. F&O expiry week could bring in volatility, but remain positive.

Source:jaldimoney

MARKET OUTLOOK - 30th NOV. 2007

Market likely to open and trade firm today. Sensex has immediate resistance at 19225 and support at 18850.Sensex may touch 19400 if close/sustain above 19225.Sensex may touch 18600 if close/sustain below 18850.

NIFTY(5634.60)- Resistance-5703,5770 Support-5589,5544

Intraday Recommendations:

Buy Godrej Industries @ 270 Sl 267 Tgt 280.

Buy Dish TV @ 82.70 Sl 81.70 Tgt 85.50

Buy NTPC @ 231-235 Sl 225 Tgt 265-285

Buy BONGAIGAON REFIN @ 92.85-95.00, Sl 90 Tgt 110-120

F&O Recommendation: (POSITIONAL)

BUY DEC FUT-RPL ABOVE 220 TARGET 228,233 SL 213

Happy Trading ….All the best………….

MARKET OUTLOOK - 29th NOV. 2007

Market likely to open and trade firm today. Sensex has immediate resistance at 19210 and support at 18775.Sensex may touch 19400 if close/sustain above 19210.Sensex may touch 18600 if close/sustain below 18775.

NIFTY(5617.55)- Resistance-5714,5809 Support-5558,5500

Intraday Recommendations:

Buy IndiaBulls@790 SL 780 Tgt 850

Buy Powergrid@150 SL 140 Tgt 165

Buy Rain Calcining @ 55 Sl 53 Tgt 60

Buy IndusInd Bank @ 112 Sl 110 Tgt 120

F&O Recommendation: (POSITIONAL)

BUY DEC FUT-GMRINFRA ABOVE 250 TARGET 256,259 SL 245

All the best…….Happy Trading………

MARKET OUTLOOK - 28th NOV. 2007

Market likely to open and trade firm today. Sensex has immediate resistance at 19220 and support at 19020.Sensex may touch 19400 if close/sustain above 19220.Sensex may touch 18900 if close/sustain below 19020.

NIFTY(5698.15)- Resistance-5743,5788 Support-5654,5611

Intraday Calls:

Buy Reliance Energy @ 1757 Sl 1751 Tgt 1787

Buy Essar Oil @ 217 Sl 215 TGT 237

Buy Petronet @ 104 SL 102 Tgt 114

Buy Punj Lloyd @ 464.85 Sl 462 Tgt 474-475

F&O Recommendation: (POSITIONAL)

BUY DEC FUT-ESCORTS ABOVE 161 TARGET 167,171 SL 155

All the best …….Happy Trading……..

MARKET OUTLOOK - 26th NOV. 2007

Market likely to open and trade firm today. Sensex has immediate resistance at 19000 and support at 18630.Sensex may touch 19300 if close/sustain above 19000.Sensex may touch 18400 if close/sustain below 18630.

NIFTY(5608.60)- Resistance-5660,5712 Support-5536,5463

Intraday Recommendations:

BUY IFCI ABOVE 90 sl 89 tg 91.5 94

BUY RPL ABOVE 211 sl 209 tg 214 220

BUY TTML ABOVE 48.5 sl 47.8 tg 49.5 51.5

BUY PARSHVANATH CMP FOR A TGT OF 365/400 SL 328

F&O Recommendation: (POSITIONAL)

BUY NOV FUT-RPL ABOVE 219 TARGET 230,237 SL 210

All the best…..Happy Trading………..

Market View:
Markets lost almost 1700 points in four trading sessions on back of some heavy selling pressure from the FII’s. This along with negative cues from all around the world had the indices depict some volatile movements and head down south. The indices have been moving in a huge trading range between 20K & 18K and have not been able to breach the all time highs at 20208 mark. There have been strong resilience at 20K mark and buying supports coming in at 18200-18300 mark. Global pressures could ease out in coming days which could lend support to the markets. Technically the levels of 18600 & 5500 are very important levels for the BULLS and a breach below this could spell problems & take the markets lower to 17K & 5200 mark. I strongly feel that the correction from 20K to 18K may have been over and markets would be headed to test the new highs once again. F&O expiry week could bring in volatility, but remain positive.

MARKET OUTLOOK - 23rd NOV. 2007
Market likely to open and trade firm today. Sensex has immediate resistance at 18800 and support at 18200.Sensex may touch 19200 if close/sustain above 18800.Sensex may touch 17900 if close/sustain below 18200.

NIFTY(5519.35)- Resistance-5621,5722 Support-5406,5293

Intraday Recommendations:

Buy DLF 852 - 845, Stop-Loss 834.30 Target 890
BUY GMRINFRA ABOVE 235 sl 230 tg 250
Buy Reliance Energy @ 1603 Sl 1595 Tgt 1640
BUY ACC ABOVE 1103 SL 1040 tgt 1180-1200

F&O Recommendation: (POSITIONAL)

BUY NOV FUT-RNRL ABOVE 152 TARGET 156,158 SL 149

All the best…… Happy Trading……

MARKET OUTLOOK - 22nd NOV. 2007

Market likely to open lower with gap today .However expecting recovery in later of the day. Sensex has immediate resistance at 19040 and support at 18340.Sensex may touch 19700 if close/sustain above 19040.Sensex may touch 18000 if close/sustain below 18340.

NIFTY(5561.05)- Resistance-5724,5887 Support-5464,5368

Intraday Recommendations:

BUY POLARIS ABOVE 116 sl 114 tg119 122
BUY BHARTIARTL ABOVE 905 sl 898 tg 915 930
SELL PFC(238.50) BELOW 236.50 target 230 sl 240
BUY PUNJLLYOD @ 471 SL 460 TGT 490

F&O Recommendation: (POSITIONAL)

BUY NOV FUT-BHARTI ONLY ABOVE 900 TARGET 930,950 SL 875

Be cautious..... All the best..... Happy Trading.....

Market View :

Worldwide selling this time took a heavy toll on the Indian bourses with the indices tanking to some heavy selling pressure. Sensex started off losing 200 points in the opening minutes of trades and did attempt to gain positive momentum. But sustained selling pressure continued to mount in the markets taking the indices lower south. The indices could not manage to gain strength as selling pressure mostly by FII’s intensified in the post lunch session. The BSE index recorded its 3rd worst single day fall losing more than 700 points for the day closing below the 19K mark at 18602. Nifty too ended up on the losing side closing at 5561 a loss of 219 points.All the sectoral indices took a heavy beating on heavy selling pressure with most of them losing more than 5% each. Metals and Power stocks were the worst hit taking a hit of 6% for the day. Momentum stocks in the power sector like REL, Neyveli Lignite, Power Grid & NTPC lost heavy ground. PSU refinery stocks which were the talk of the town last week too tanked on profit booking. Even mid-caps and small-caps which have been rising since the past several days took a beating to lose apprx 4% each. Market breadth was in the ratio of 1:3. FII’s were heavy sellers in the equity markets selling stock worth Rs. 2007 crs as per provisional data & had net outflows in the F&O segment as well for Rs. 2187 crs. Domestic Institutions were on the opposite side being net buyers in the equity segment for Rs. 630 crs.FII selling in the past 2 days have been the major reason for the Sensex correcting sharply. The benchmark index has lost more than 1000 points in the last 2 days and is currently placed at their medium term support levels at 18600 & 5500. Negative cues from the global markets, especially Asian markets have finally had an impact on the Indian markets as well. FII’s have been selling in most emerging markets like China & India. The correction has been fast and taken most people by surprise. The support levels mentioned above are strong support areas and markets could take support at these levels. Accumulate stocks at lower levels.

MARKET OUTLOOK - 20th NOV. 2007

Market may open weak today. However expecting recovery in later part of day, may try to close positive today. Sensex has immediate resistance at 19875 and support at 19500.Sensex may touch 20200 if close/sustain above 19875.Sensex may touch 19150 if close/sustain below 19500.


NIFTY(5907.65)- Resistance-5962,6016 Support-5873,5839

INTRADAY RECOMMENDATIONS:

Buy TTML @ 50 Sl 46 Tgt 56

Buy IFCI @ 98 Sl 93 Tgt 105-110

Buy IVRCL Infra @ declines for a target of 560

Buy DLF @ declines for a target of 1000

F&O Recommendation: (POSITIONAL)

BUY NOV FUT-IFCI ABOVE 101 TARGET 105,108 SL 97

STOCKS TO WATCH:

ENERGY DEVELOPMENT

TULIP

ATLANTA

KESORAM IND.

VARUN SHIPPING

DABUR

DENA BANK

CORE PROJECTS

INDIAN BANK

JINDAL PHOTO

All the best … Happy Trading….

MARKET OUTLOOK - 19th NOV. 2007

Market likely to open and trade firm today. Sensex has immediate resistance at 19870 and support at 19500.Sensex may touch 20200 if close/sustain above 19870.Sensex may touch 19150 if close/sustain below 19500.


NIFTY(5906.85)- Resistance-5965,6022 Support-5833,5760

Intraday Recommendations:

Buy IFCI @ 90.30 Sl 89 Tgt 94

Buy Reliance Energy @ 1826 Sl 1820 Tgt 1850-1860
Buy IndusInd Bank @ 112.80 Sl 111 Tgt 116-117
BUY Nagarfert ABOVE 83 sl 78 tg 86/91
BUY ITC ABOVE 208 sl202 tg 212 219

STOCKS TO WATCH: (ACE, ENERGY DEVELOPMENT,VIDEOCON INDUSTRY,ORBIT CORPORTION,RPL, JINDAL PHOTO)

F&O Recommendation: (POSITIONAL)

BUY NOV FUT-LITL ABOVE 454 TARGET 465,472 SL 445

ALL THE BEST AND HAPPY TRADING......

MARKET OUTLOOK - 16th NOV. 2007

Market likely to open weak today. However expecting recovery in later part of day. Sensex has immediate resistance at 19925 and support at 19680.Sensex may touch 20400 if close/sustain above 19925.Sensex may touch 19100 if close/sustain below 19680.


NIFTY(5912.10)- Resistance-5955,5997 Support-5882,5853

F&O Recommendation: (POSITIONAL)

BUY NOV FUT-GMRINFRA AT AROUND 223-224 TARGET 230,234 SL 218

STOCKS TO WATCH:

YES BANK

ENERGY DEVELOPMENT

BALAJE TELE

RNRL

RPL

BPCL

ASHOK LEYLAND

INDUSIND BANK

DCB

JSW STELL

INDIA CEMENT

FUTURE AND OPTIONS:

RIL, SBI

MARKET OUTLOOK - 15th NOV. 2007

Market likely to open firm today. However expecting selling pressure in later part of day. Sensex has immediate resistance at 20165 and support at 19515.Sensex may touch 20400 if close/sustain above 20165.Sensex may touch 19100 if close/sustain below 19515.

NIFTY(5937.90)- Resistance-6026,6113 Support-5775,5612

Intraday Tips for 15th November 07

Buy RNRL @ 169.05 Sl 165 Tgt 175-180
Buy Lloyds Steel Industries @ 17 Sl 16.50 Tgt 19
Buy Gujarat NRE Coke @ 121.75 Sl 120 Tgt 126
Buy Tata Motors @ 707 Sl 704 Tgt 716-720
Buy JPHYDRO above 98 sl 96 tgt 105
Buy IOC at cmp for a target of 630 sl 510

F&O Recommendation: (POSITIONAL)

BUY NOV FUT-STER ABOVE 1020 TARGET 1050,1070 SL 995

All the best and happy trading.....

MARKET OUTLOOK - 8th NOV. 2007

Sensex has immediate resistance at 19565 and support at 19200.Sensex may touch 19800 if close/sustain above 19565.Sensex may touch 18900 if close/sustain below 19200.Expecting fall of 1000 points if Sensex close below 19000.

NIFTY(5782.35)- Resistance-5848,5914 Support-5730,5678

BUY GAIL ABOVE 458 sl 455 tg 473 496

BUY ISPATIND ABOVE 30.2 sl 29.8 tg 32- 33.5

SELL RPL AT CMP SL 230 TGT 206-196

All the best and Happy Diwali to all....

RPL AND RNRL – STOCK PRICES DEFY FUNDAMENTALS

Reliance Petroleum Ltd. (RPL) promoted by Reliance Industries Ltd. (RIL) is setting up a Rs.27,000 crore refinery of 29 million TPA at Jamnagar. The company is scheduled to start its commercial production on or before December 08.

Reliance Natural Resources Ltd. (RNRL) is a Reliance ADAG group company, which has been formed, mainly, to secure gas supply arrangement with RIL from Krishna Godavari Basin, to be explored and produced from June 08, and to be used by the power projects, to be set up by Reliance Energy Ltd. (REL) a company of Reliance ADAG group.

RPL, since implementing its refinery has not been making any profit & loss account and entire amount spent on the project is capitalized and there are no commercial activities at present. However, RNRL though, has got the allotment of coal bed methane block, onshore oil exploration blocks, exploring opportunities for import of gas, city gas distribution business and also for setting up gas terminals at coastal based locations, it does not have much of the business activities. For quarter ending September 07, RNRL had total income of Rs.61.31 crores which has resulted into an EBITDA of Rs.48.21 crores, PBT of Rs.26.75 crores and PAT of Rs.19.17 crores on equity of Rs.736.57 crores (face value of Rs.5) resulting in an EPS of 13 paise.

RPL share is now ruling at Rs.225 while RNRL is ruling at Rs.155. With the present state of activities of both the companies, nobody would really think of buying these stocks at the prevailing rates, when much better options are available. It is also strange to note that, couple of days back, RNRL had a high of Rs.199 while RPL had a high of Rs.295, on NSE.

It is surprising to see that retail investors have bought heavily into both of the stocks and mainly in F&O segment. RNRL lot size is 7,150 shares while RPL lot size is 3,350 shares. Due to this, value of both the stocks has almost touched Rs.10 lakhs, which is considered very high from retail investors’ view.

The irony is that, for the last couple of days, both these stocks have been showing a volatility of about 25% to 30% on an intra day basis, with negative bias at the closing levels. The share price has also corrected by about 20% to 25% in the last 2 days. Even options segment has been showing huge premiums on calls, which were bought by the retail investors.

Given these facts, obviously, it is very surprising to understand why retail investors are bullish on both these stocks, despite no existing fundamentals to support these stock prices. There is only one apparent reason – momentum. The retail investors have became complacent and have accepted that share price of both the companies would keep going up, one way and hence, it is very easy for anyone to make money, in F&O market, by creating long position. But now they are all stuck with their long positions and have been sitting on good amount of losses. Since some of them are unable to bear these losses, they have had to cut their positions by booking losses and leave the battle half way.

This kind of volatility has been witnessed in the stock price of REL around Dussera where share price fell by about Rs.500 to Rs.600 from a high of Rs.1,950. Though share price bounced back from Rs.1,200 to Rs.1,800 in less than a week, weak hands lost huge money in F&O segment. Same thing is going to get repeated now in case of RNRL and RPL. If the recovery process is delayed in case of these scrips, this time, traders may not be able to hold their positions due to lack of patience and of capacity to finance mark to market losses.

The message is loud and clear for traders - remain away from such volatile stocks and especially, refrain from trading into these stocks in F&O segment. It is also very much necessary to look into the fundamentals of such stocks being traded, even on technicals. Momentum or taking blind calls even on promoters, can cause huge losses in the short term, though the calls may remain profitable in the long run. So traders loose, investors gain.

source:sptulsian

MARKET OUTLOOK - 7th NOV. 2007

Market likely to open and trade firm today. Sensex has immediate resistance at 19770 and support at 19200.Sensex may touch 20400 if close/sustain above 19790.Sensex may touch 18900 if close/sustain below 19200.


NIFTY(5786.50)- Resistance-5910,6032

Support-5711,5637

F&O Recommendation: (POSITIONAL)

BUY NOV FUT-JPHYDRO ABOVE 88 TARGET 92,94 SL 85

Intraday tips:

Buy Sun TV Network @ 310.90 Sl 308 Tgt 321

Buy Reliance Energy @ 1848 Sl 1841 Tgt 1870

Buy NTPC @ 242 tgt 265

Buy NAGARFERT@ 63 tgt 70

Buy GMR Infra @ 192 tgt 208

Happy trading.... all the best.

MARKET OUTLOOK - 6th NOV. 2007

Market likely to open and trade firm today. Sensex has immediate resistance at 19900 and support at 19390.Sensex may touch 20400 if close/sustain above 19900.Sensex may touch 19000 if close/sustain below 19390.

NIFTY(5847.30)- Resistance-5924,6000 Support-5795,5741

Buy RPL Above 272 For Target of 277 & 288

Buy Sterlite Optical Above 302 for target of 312& 325

Buy Petronet Above 93 For Target of 96 & 99

Buy Powergrid Above 151 For Target of 157 & 162

RNRL Given bullish brekout see level of 194 & 210 Keep SL of 168

Tata Power Given good Breakout look for Target of 1407 & 1448 !!!!! Keep SL of 1345

Happy trading...All the best

Weekly Tips for 05-11-2007 to 09-11-2007

WEEK TECHNICALS:

BUY NAGARFERT @ CMP TARGET 70+ SL 55
BUY REL @ CMP TARGET 2100+ SL 1700
BUY ICICIBANK @ CMP TARGET 1400+ SL 1270
BUY PRITHIVI @ 286.60 TARGET 315-342 SL 250
BUY SOBHA @ 925.70 TARGET 965-970-1003 SL 871
BUY ELGIEQUIPMENTS @ 71.35 TARGET 78-80-96 SL 64
BUY BSELINFRA @ 63.95 TAGET 71-77 SL 56.80

Market this Week:

Indian indices weathered the storms of CRR hike and global weakness closing at its highest level ever {shade below the 20K mark}. Asian markets have largely been outperforming in weaker US & European markets and are currently placed near to their all time highs. Sensex and Nifty have taken support at their respective gaps { Sensex at 19279 & Nifty futures at 5729 }. Technically this demonstrates a positive signal. Markets could be on fire in the coming week and one could expect some brilliant fireworks display in the Indian Stock markets. Markets could be on a frenzy and move to new highs. Resistances are placed at 20200-20250, above which markets could move upto 21K. Nifty {futures} resistances exists at 6000 mark, above which expect non-stop rally upto 6175-6200 levels. Short term support for the sensex stands at 19250-19300, below which markets could correct sharply.

Market Summary:

Markets extended its run-up from last week to record its 2nd consecutive weekly gain despite weakness in the Global markets & a CRR hike by the RBI. The indices depicted high volatility moving between 20200 – 19700 mark for most of the week. Global weakness on the last day did send jitters to the Bulls as sensex dropped to 19250 mark on Friday, but recovered sharply from last weeks gap opening to close at a new weekly high. The BSE benchmark index added 733 points or 3.80% for the week to close at 19976 and Nifty registered gains of 4% or 230 points to close at 5932. Nifty futures hit the 6000 mark for the first time ever.

Banking stocks bucked the negative news in form of a 50 bps point CRR hike by the RBI to curb capital inflows. The hike which previously used to dampen sentiment in Banking stocks failed to do so this time around. The BSE Bankex gained 9.50%. Banking majors SBI & ICICI bank hit new highs. PSU banking stocks too gained smart ground to close at its highest levels ever. Capital Goods continued to outperform the markets and gained as much as 10% for the week largely with the help of gains from L&T. The stock gained another 15% bagging another prestigious order { Mumbai Airport revamp order from GVK worth Rs.5000 crs}. ONGC had a good run from last week and was the biggest contributor to the rise in the Sensex. The stock gained 18% on higher crude prices. Metals continued to shine gaining 5.7% for the week. Auto stocks were the target of a sell-off with the CRR hike acting as a dampner. FMCG stocks too lost ground on weak results from HUL. Telecom stocks too headed south from higher levels on weak Q2 numbers, except Rcom. The top sensex gainers were Ongc{+18%}, L&T{+15%}, Tata power {+14%}, HDFC Bank{+13.80%} while draggers included HUL{-10%}, Bharti Airtel{-10%}, Hero Honda{-8.50

Sensex bucks global trend, gains 251 pts Short covering helped Indian stock markets buck the slide, as the Asian and European markets were hit by renewed concerns on subprime mortgage forcing some of the biggest Wall Street banks, including Citigroup, to report lower profits.

On a day of choppy trades, the Sensex closed 251 points up (1.28 per cent) to settle at 19,976.23, after opening lower by more than 400 points.

A day after the broader S&P CNX Nifty peaked 6,000-mark during intra-day trades, the 50-stock index ended 1.12 per cent higher at 5,932.40 points.

Dealers said some foreign institutional investors were under redemption pressure to maintain their net asset values (NAVs), which triggered a sell-off in almost all sectors.

Some hedge funds, which have now been given 18 months to unwind their P-Note (participatory note) positions, were also in a mood to sell.

Globally, Dow Jones and Nasdaq closed lower on Thursday on concerns that losses from the US subprime mortgage will deepen. Asian indices followed the suit and Japan’s Nikkei ended 352 points lower followed by Kospi and Taiwan index, down 43.80 and 325.14 points, respectively.

US crude hovered near $93.60 a barrel, after sliding from an all-time high of $96.24 as concerns about the US economy weighed, while gold notched up to $791.60 an ounce, keeping within sight of a 28-year peak near $800.

The markets opened with a negative gap of 365 points but recovered almost 100 points during mid-afternoon trades and was hovering at 19,511. However, it bounced back in late afternoon and even crossed 20,000 during intra-day trades on huge short covering.

Almost all the sectors were in positive territory by the end of Friday’s trading session. The banking index was the biggest gainer, shooting up 3.59 per cent due to heavy buying seen in State Bank of India after Bloomberg reported that the state-owned bank got government approval for a rights issue.

SBI surged 8.74 per cent to Rs 2,251.75, HDFC Bank ended 5 per cent higher at Rs 1,758.75, Reliance Energy shot up 4.78 per cent to Rs 1,852.35 and ONGC rose 2.70 per cent to Rs 1,366.10.

Sunil Mittal-controlled Bharti Airtel dropped 5 per cent to Rs 894.85 on concerns that proposed new rules for allocation of spectrum will hurt its growth prospects. ACC tumbled 1.90 per cent to Rs 1,032.55, Satyam Computer 1.87 per cent to Rs 462 and Cipla 1.39 per cent to Rs 173.60.

Almost half of the stocks advanced at BSE.