Daily Report August 11th Friday

*Nifty (3260) SUPPORT-3238-3212-3180 RESISTANCE-3286-3319-3358 Nifty range
3240-3295 markets is showing sign of strength in spite of bad news (high
alert in U.K &U.S) markets didn't crack much which suggest that undertone is
bullish. Nifty last week close was 3176 so any close around above 3260-3280
would be very bullish close for next week. TOP
5GAINERS=PNB-SUZLON-HCLTECH-BHARATIATL-TATATEA TOP5LOSER
=BAJAJAUTO-JETAIRWAYS-RANBAXY-DABUR-ITC. P/E=18.30 p/b=4.45 adv=24 dec=25 NSE
adv: 625 dec: 276 -vol-rs.6372crs*

*Sensex (11149) SUPPORT-11055-10960-10872 RESISTANCE-11218-11305-11420
Sensex needs to break 11218 levels for real bullish markets yesterday it
failed to cross. Action has shifted to mid cap & small cap so sensex would
take a breather at higher level and more of sideways movement would be
witnessed. *

*OPEN=11175 HIGH=11213 LOW=11051 BSE adv: 1532 dec: 876 -vol-rs.3136crs *

*Fiis buyer rs.250crs and Mutual funds buyer rs.198crs on Wednesday, Fiis
buyer rs.1271crs in August month and buyer rs.14018Crs in 2006, mutual fund
buyer rs.203crs in August month. F&O DATA Fiis sell rs.286crs in nifty
future and sell rs.197crs in stock future on 10th August and provisional
Fiis buy in cash rs.54crs source NSE website*

*Day That Ended:** Markets almost flat index wise but jr.Nifty gained
1.5%and CNX Midcap gained
1.55% so the action has shifted there and in index stock specific action is
only seen. And movementum stocks are back in action but investor should
stick to basic invest in good fundamental stock, TEA-METALS-IT stocks where
in action IT stocks like GEOINFO-ROLTA-WIPRO-HCLTECH-MPHASISBFL where few
noticeable gainers. International markets U.S markets closed positive Indian
ADRs also closed positive EURO markets closed weak ASIAN markets opened on a
steady note, CRUDE $74.13.*

*Outlook for Friday: **Markets to open positive
CUMMINS-BHARATFORGE-AMTEKAUTO would be few positive stock,
VSNL-STER-ORCHIDCHEM have given breakout and would soon reach the target one
should use a trailing stop loss. OI in NIFTY PCR is 1.37 which suggests that
markets are positive and there can be a big spurt in markets before the end
of the settlement. Few stocks should be slowly accumulated in dips for big
gains
TULIPIT-BHARTHISHIPYARD-OMAXAUTO-RICOAUTO-BEML-NELCO-HINDOIL-TVSMOTORS-PUNJTRACTORS.
***

*STOCK TECH view: BHARATFORGE OI added 34% in 2days and delivery volumes BSE
& NSE combined 37lac delivery 25lacs 67% and the stock is showing great
strength technically and target can be rs.340-350 and even higher which is
12% stop loss below rs.298 is advisable. TATAMOTORS is looking good for a
target of rs.840 and in coming week. CUMMINS targets rs.202 above and if
that is sustained we would see a major upmove.*


*NEWS:*

*http://www.capitalmarket.com **Gujarat** Flourochemicals ecstatic on
prospective carbon credit revenue. **Sadbhav Engineering has bagged a
contract worth Rs 560 crore from the Ahmedabad Urban Development Authority
for strengthening and widening of the Sardar Patel ring road around
Ahmedabad cityon a build-operate-transfer basis. Tea plantation shares
spurted today boosted by reports of a surge in tea exports in June 2006.
Micro Technologies India and Girvan Institute of Technology has announced
the signing of a partnership under which the two organizations will together
introduce various security products developed by the company in the **US**.
Girvan will customize the products of the company to meet the huge demand
for homeland security products in the **US**. *

*http://www.businessstandard.com **Punj Lloyd today said it has bagged a Rs
321 crore contract from Yemgas, for civil works at the LNG project in **
Yemen**. Ranbaxy Laboratories today said it will sell off its manufacturing
unit in Ireland as it consolidates production activity for Europe and the
Commonwealth of Independent States (CIS) countries, at the plant of recently
acquired Terapia in **Romania**. Emco, a leading manufacturer of
transformers has said it will raise over Rs 232 crore ($ 50 million) from
the international or domestic market through the issue of foreign currency
convertible bonds (FCCBs) or other securities. Bharati Shipyard has firmed
up plans to foray into oil rig construction. The company, which operates
three yards currently, has tied up with reputed US-based oil manufacturing
company for the project.*

*http://www.financialexpress.com **Reliance Industries Ltd., which plans to
launch a retail chain, has submitted a 2.88-billion-rupee ($62 million) bid
to revive an ailing shopping cooperative. Third-largest software services
exporter, Wipro Ltd., is eyeing more foreign acquisitions to accelerate
growth and plans to expand operations in **China**, its chief financial
officer said on Thursday. In the line with the Securities and Exchange Board
of India's decision, Crisil has launched initial public offering (IPO)
grading services for the Indian market. Crisil has also graded two
forthcoming IPOs, namely Ashtavinayak Cine Vision and Minar INternational
Ltd.***

*http://www.thehindubusinessline.com **Tata Motors launches mini truck in
MP, **Enthused by response to its indigenously developed mini truck, Tata
Motors on Thursday announced its plans to introduce a passenger model of
Tata Ace. ***

*http://economictimes.indiatimes.com **The tremendous investors' response
to the two big IPOs of Tech Mahindra and GMR Infrastructure is likely to
lure those promoters who had shelved their IPO plans back into the market,
market watchers said pointing to the trend in the last ten days. The West
Bengal government on Thursday finalised its plans to acquire about 1013
acres of land at Singur in Hooghly district for Tata Motors, which will set
up its small car manufacturing unit at an estimated cost of Rs 1,000 crore.
**Indian exports of engineering goods touched $ 5.5 billion in the first
quarter of the current fiscal growing by more than 20% making it the largest
contributor to **India**'s total merchandise exports.***

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Disclaimer: trade in stock market is high risk& high return and I do not
accept any financial and/or legal responsibility arising the use of the
information this is no offer to buy/sell jus my views to share.

*
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*Cabinet to decide residual BALCO stake sale