Daily Report August 16th Wednesday

Nifty (3313) SUPPORT-3290-3260-3230 RESISTANCE-3337-3374-3400 Nifty range 3274-3337 now if nifty sustains above 3260 above levels for this week then we would target 3400-3485 and for this we need a close above 3335 which can make it happen now stop loss for long position 3260 on closing basis short would cover only above 3335-3345 which would give faster upside to markets so one should have this in mind. TOP 5GAINERS=BPCL-HINDPETRO-BAJAJAUTO-JETAIRWAYS-CIPLA TOP5LOSER=HEROHONDA-ICICIBANK-SUZLON-RANBAXY-LT. P/E=18.60 p/b=4.52 adv=40 dec=9 NSE adv:714 dec:212 -vol-rs.5333crs

Sensex (11312) SUPPORT-11255-11174-11060 RESISTANCE-11389-11470-11560 Sensex moved higher and lack of volumes many feel is a big worrying factor which some times can be misleading as volumes come only after few critical levels are crossed. Here is a graph view jus click to view http://prabhakar-views.blogspot.com/2006/08/sensex-view.html
8dma=11052 13dma=10939 21dma=11312 34dma=10666 55dma=10375 OPEN=11221 HIGH=11330 LOW=11221 BSE adv: 1840 dec:647 -vol-rs.2848crs
Fiis buyer rs.63crs and Mutual funds buyer rs.47crs on Friday, Fiis buyer rs.1487crs in August month and buyer rs.14233Crs in 2006, mutual fund buyer rs.273crs in August month. F&O DATA Fiis buy rs.130crs in nifty future and buy rs.53crs in stock future on 14th August and provisional Fiis sell in cash rs.61crs source NSE website

Day That Ended: Markets had much news to cheer an election survey which showed 300+ seats to UPA The Hindu-CNN-IBN State of the Nation Survey carried out by the Centre for the Study of Developing Societies (CSDS), and Middle-East saw some peace which made Crude drop $73.29. Market volume was very low but the general feeling is that many have taken extended holiday with the festival season corner and advance outnumbering declines and with all sectors contributing expect for BANK-CAPITALGOODS. International markets U.S market opened strong but lost its major gains to close positive Indian ADRs closed positive EURO & ASIAN markets very mixed as of now.

Outlook for Wednesday: Positive opening some sell off can be possible before a major recovery market men seemed to be very confused about market move but I would maintain my bullish view and buy and hold good stocks for long term and it can give solid returns also in short term. There seems to be a silent recovery in oil refining & marketing companies like CHENNAIPETRO-BONGAIREF-MRPL-BPCL-HPCL-COCHINREF-IOC and this doesn’t seem to be a recovery based on drop in crude prices there should be some thing more to this which I am not aware off. PHARMA is where good buying was seen BIOCON-CIPLA-GLAXO-SUNPHARMA where few gainers BIOCON which was underperforming markets can become an out performer and WOCKHARD also would be a good safe investment.

STOCK TECH view: BHEL is looking good for a target of rs.2465 so one can have a stop loss at rs.2120 closing basis (short term trading ideas). WOCKHARD would be a good buy at rs.350-370 levels target rs.500-520 target time period can be medium term looks very good on graph. TVSMOTOR can give 30-40% returns in 6-8months maybe even before.
http://in.groups.yahoo.com/group/prabhakar-views/files have a look

NEWS:
http://www.capitalmarket.com Oil Minister Murli Deora said on Monday that the joint bid by Oil and Natural Gas Corporation and China's Sinopec for a share of an oil asset in Colombia has been accepted, and India would get around 1 million tonnes of oil every year from it. ONGC and China's Sinopec have picked up 50% stake in Colombian oil firm Omimex de Colombia for $ 800 million. Omimex is a 100% subsidiary of Omimex Resources, a US-based exploration and production company. Strides Arcolab has received tentative approval from the US FDA for Nevirapine Tablets, used to stop the AIDS virus from reproducing. This drug was reviewed under the expedited review provisions of the president's emergency plan for AIDS relief program. -flex Solutions’ board will acquire Mantas, USA, in an all-cash deal for $ 122.6 million through the company’s wholly-owned US subsidiary, i-flex America. Mantas is a leading provider of anti-money laundering (AML) compliance software and services

http://www.businessstandard.com The Prime Minister’s Economic Advisory Council has forecast that the economy will grow at 7.9 per cent in 2006-07, which is slightly lower than the average growth of 8.1 per cent recorded in the past three years. Tata Steel is planning to acquire manganese mines in South Africa and is likely to float a joint venture with a South African company, P Roy, executive in charge of ferro alloys & minerals said on the sidelines of a seminar on Indo-Africa project partnership, organised by the Confederation of Indian Industry (CII), here today. Bharat Heavy Electricals (BHEL) has won a contract worth Rs 1,224 crore to set up a thermal power plant in Uttar Pradesh.

http://www.financialexpress.com Ranbaxy Laboratories Ltd (RLL) on Monday said that it has received approval to manufacture and market two products, indicated for treatment of HIV infection in children. With the approval, the country’s biggest drugmaker can now manufacture and distribute Triviro-LNS kid and Triviro-LNS kid DS in the country. Mukesh Ambani controlled Reliance Industries Limited (RIL) along with Nikhil Gandhi of Sky King Infrastructure, one of the promoters of the Navi Mumbai Special Economic Zone (NMSEZ), has taken the management control of Rewas Ports Limited (RPL). Mukesh alone has picked up a 37% stake in the Rs 2,000 crore port. The port was being developed by Vijay Papa Rao, just adjacent to Ambani’s NMSEZ. IL&FS had also been vying for a stake in the port.

http://www.thehindubusinessline.com Edible oil manufacturing company KS Oils Ltd has said it will raise over Rs 92 crore ($20 million) through the issue of foreign currency convertible bonds (FCCBs) or other securities. Rama Newsprint & Papers Ltd has informed the BSE that the water supply to company mills, at Barbodhan in Surat district, has restored from the intake water pumping station situated near Tapi River in Surat. Consequent to the restoration of the water supply to the mills, the company has resumed production.

http://economictimes.indiatimes.com Market regulator SEBI and the Reserve Bank would meet soon to sort out differences over permitting institutional investors to short sell their securities, official sources said. British bank Barclays Plc is in talks to buy a 10 per cent stake in country's distressed assets firm Asset Reconstruction Co of India Ltd (Arcil) from ICICI Bank , a senior Barclays official said on Monday. ONGC to explore new frontiers for more oil and gas. Titan Industries Limited plans to open 40 new outlets across the country within this fiscal and is eyeing a growth target of 25 per cent.


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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