Daily Report August 10th Thursday

Nifty (3254) SUPPORT-3227-3200-3182 RESISTANCE-3279-3310-3381 Nifty range 3217-3280 nifty faces a minor resistance at 3277 once it is crossed 3342 would be one more level to watch. Now the stop loss is moved up to 3182 on nifty for long position on a closing basis. TOP 5GAINERS=SBIN-NATIONALUM-ITC-SUZLON-ORIENTBANK TOP5LOSER=ICICIBANK-TATAPOWER-HDFCBANK-HDFC-GRASIM. P/E=18.27 p/b=4.44 adv=44 dec=6 NSE adv: 690 dec: 210 -vol-rs.6297crs

Sensex (11145) SUPPORT-11066-10958-10879 RESISTANCE-11218-11305-11395 Sensex has showed good strength and a target of 11400 above can be possible in near term if we can cross 10218 with good volume. CD-FMGC-METALS where sectors which gained the most, CD as sector has given a breakout.
8dma=10891 13dma=10754 21dma=10630 34dma=10576 55dma=10353 OPEN=10990 HIGH=11187 LOW=10939 BSE adv: 1668 dec: 731 -vol-rs.2899crs
Fiis buyer rs.298crs and Mutual funds seller rs.126crs on Tuesday, Fiis buyer rs.1021crs in August month and buyer rs.13767Crs in 2006, mutual fund buyer rs.5crs in August month. F&O DATA Fiis buy rs.597crs in nifty future and buy rs.1crs in stock future on 9th August and provisional Fiis buy in cash rs.219crs source NSE website

Day That Ended: Markets opened with the weak trend in international markets and turned big positive with SUGAR-METALS-AUTO-CEMENT-FMCG all making major gains many MIDCAP and SMALL CAP stocks gained after a very long time on value buying. Volumes were good with very positive advance decline ratio and the volumes were seen in all segment. Crude $76.25 International markets U.S couldn’t sustain its initial gain and closed negative DJIA closed .87% down while NASDAQ was stable .03% only down EURO markets EURO markets closed positive ASIAN markets weak opening Indian ADRs mixed VSNL-TATAMOT-WIPRO were noticeable gainer.

Outlook for Thursday: markets to open positive and TATA group stocks can be in action after news that cross holding in few group companies has been raised VSNL has a build up 20% open interest in F&O and looks bullish. BEML-ASTRAMICRO-NELCO all 3defense supplier would be a good pick as these stocks have bottomed out and an upmove would give 20-25% returns. METALS is one sectors which can do well if markets is positive HINDALCO-STER-TATASTEEL-SAIL-NALCO all looking for a big upmove.

STOCK TECH view: TATASTEEL should cross and trade above rs.525 to target rs.565-570, ORCHIDCHEM has given a triangle breakout would target rs.228-240 soon, ASTROMICROWAVE the stock trading above rs.165 would target rs.190 soon GUJAMBCEM is looking for a breakout and can target rs.125.

NEWS:
http://www.capitalmarket.com Hindustan Oil Exploration Company (HOEC) announced that the allotment committee has fixed the issue price at Rs 76 per equity share and the entitlement ratio at 1:3, (1 equity share for every 3 held). Aurobindo Pharma surged on getting marketing authorization approval for Mirtazapine anti-depressant tablets from UK Medicines and Healthcare Products Regulatory Agency. The entire sugar pack surged on the back of strong buying momentum as sugar prices firmed. Rolta India net profit for Q4 June 2006 rose 42.88% to Rs 35.35 crore compared with Rs 24.74 crore in Q1 June 2005. Total income during the period increased from Rs 103.21 crore to Rs 143.44 crore.

http://www.businessstandard.com Bajaj launches CNG 3-wheelers in Indonesia. Gujarat Floods: Diamond industry hit hard. State Bank of India (SBI) and SBI Holdings, part of Japan's financial services provider SBI group, are setting up a $100 million venture fund for investing in unlisted Indian companies. ITC Infotech, a wholly-owned subsidiary of ITC, has signed an offshore sourcing contract with Danske Bank of Denmark. The multi-year contract envisages supporting Danske Bank's IT division, the company said in a release today.

http://www.financialexpress.com Telecommunication services provider Videsh Sanchar Nigam Ltd said on Wednesday Tata Sons Ltd bought two per cent stake in the company to raise its stake to 5.64 per cent. India said that it did not see the US decision to review the preferential trade benefits that it gives to 133 developing countries linked in any way to stand-off at the WTO.

http://www.thehindubusinessline.com Power, steel pull down infrastructure growth to 6.2 pc in June compared to 8.3 per cent in the same month last fiscal.
http://economictimes.indiatimes.com Riding on back of a booming economy, government's total indirect tax collections recorded a growth of 23.3 % to Rs 50,372 crore in the first quarter ending June 30, 2006.

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http://www.thehindubusinessline.com/businessline/blnus/03091606.htm data

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