Daily Report August 17th Thursday

Nifty (3356) SUPPORT-3332-3310-3260 RESISTANCE-3381-3405-3440 Nifty range 3381-3310 target of 3381 has almost reached and we would see some profit booking at higher levels now if 3310 is broken we can see correction till 3210 also now time investor have some cash so that in dips one can buy. In case market crosses 3381 and closes, 3475-3555 and above levels also would be possible but risk to reward ratio is not favorable in my view so have a strict trailing stop loss. TOP 5GAINERS=HINDPETRO-BPCL-HDFCBANK-JETAIRWAYS-MTNL TOP5LOSER=SUZLON-CIPLA-BAJAJAUTO-TATATEA-HCLTECH. P/E=18.60 p/b=4.52 adv=40 dec=10 NSE adv:673 dec:250 -vol-rs.7028crs

Sensex (11448) SUPPORT-11388-11310-11190 RESISTANCE-111530-11589-11684 Sensex has made a gap up and this gap should be a support and one can jus run the profit till 12000 above levels till the gap is not closed and any move above 11620 would be faster. RELIANCE is showing strength and can reach the double top at rs.1100 and even cross 1195 its all time high very soon downside rs.1022 would be crucial.

8dma=11117 13dma=10993 21dma=10741 34dma=10704 55dma=10394 OPEN=11384 HIGH=11507 LOW=11384 BSE adv: 1800 dec: 726 -vol-rs.3453crs

Fiis buyer rs.10crs and Mutual funds buyer rs.32crs on Monday, Fiis buyer rs.1497crs in August month and buyer rs.14244Crs in 2006, mutual fund buyer rs.306crs in August month. F&O DATA Fiis buy rs.368crs in nifty future and sell rs.11crs in stock future on 16th August and provisional Fiis buy in cash rs.303crs source NSE website

Day That Ended: Market opened stronger on back of strong international cues and buying from FIIs, it is all good news now in markets Crude drops to $71.45 10% fall from the peak and U.S data suggest that FED would not hike interest rate in next meet. SUGAR sector saw a sell off after international prices cooled down, OIL marketing and refinery companies saw major gains with crude falling and PM statement that subsidies on LPG-KEROSENE would be cut and BANKS gained on hopes that FED would start cutting rates soon. International markets U.S markets closed positive Indian ADR closed positive EURO markets positive closing with FTSE closing flat ASIAN markets has opened on a strong note.

Outlook for Thursday: Stock specific bullish markets need a correction to be healthy there are many positive news but markets are correct and we would get it wrong. Time to take profits where targets are reached, are targets crossed but one thumb rule says run u r profits with strict stop loss as trend is up and no sign of weakness is yet seen. There are still stocks which have not moved up in the markets and has good long term growth prospect so investor should identify stocks like that to invest BEML-MANIND-WOCKHARD-VENUSREMEDIES jus to name a few.

STOCK TECH view: MAHSEAMLESS reached its 52week high the stock would target rs.420-430 buy in dips. MANINDS after trading in a range the stock has closed above rs.180 with a stop loss at rs.168 in place one can target rs.220-235 and above in the stock in short term. RELIANCE is showing strength and can reach the double top at rs.1100 and even cross 1195 its all time high very soon downside rs.1022 would be crucial.

NEWS:

http://www.capitalmarket.com entire sugar pack came under selling pressure, following reports of a 3 million tonne world sugar surplus on the back of a good harvest in Brazil and forecasts that India could triple its exports. Orchid Chemicals & Pharmaceuticals received a formal approval from the US FDA for three Abbreviated New Drug Applications (ANDAs) for Cefotaxime injection in various dosage forms. Cefotaxime is the generic version of Sanofi Aventis' Claforan. The company would be launching this product in the US through Apotex, its exclusive distribution partner. Refinery shares find favour, Select refinery shares advanced following a decline in global crude oil prices and Prime Minister Manmohan Singh's speech on Independence Day, hinting at cut in subsidies in kerosene and LPG, provided the much needed fuel for their rally.

http://www.businessstandard.com Gail India has announced that the estimated gas resources in the three discovered gas fields, Shwe and Shwe Phyu in Block A-1, and May field in Block A-3, have been certified by Gaffney Cline and Associates (GCA). Sahara Group today said it was "as of now" pre-occupied with strengthening its airline operations while terming as "speculative" the reports on talks with Jet Airways, the estranged suitor of Air Sahara , for an out-of-court settlement. Strides Arcolab has signed an agreement with US-based bio-pharmaceutical company, Gilead Sciences, for manufacturing and distributing generic versions of anti-HIV drugs Truvada and Viread.

http://www.financialexpress.com Simplex Infra gets orders worth Rs 5.77 bn. Indian electronics maker Asian Electronics Ltd will invest up to Rs 1 billion to pick up at least a 50 per cent stake in US-based Westinghouse Lighting Corp, a senior company official said. The much expected dip in real estate prices has finally arrived. Prices in the National Capital Region, areas around Mumbai and Bangalore have dropped by almost 10-20%. In outer Gurgaon, the dip has been as much as 30%.

http://www.thehindubusinessline.com Venus Remedies Ltd on Wednesday said it has received approval from the Drug Controller General of India (DGCI) for launching Fixed Dose Combination Drug of Cephalosporin. Reforms will smoothen policy, regulatory shortcomings: Chidambaram. The Asian Development Bank (ADB) on Wednesday said India, despite making significant improvement in access to primary education, would not meet the millennium development goal (MDG) targets as in the case of other countries in the Asia Pacific region.

http://economictimes.indiatimes.com Tech Mahindra Ltd, an IT solutions joint venture between Mahindra & Mahindra and British Telecom, is likely to list on the bourses on August 29. The general insurance industry grew by 23 per cent in the first quarter of this fiscal as private players continue their impressive performance with Reliance General emerging as the fastest growing company. Banking segment stocks were in a bullish form across the board on Wednesday on massive buying by funds after global agency Fitch Ratings upgraded the ratings of ICICI Bank to investment grade.



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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.

http://www.financialexpress.com/fe_full_story.php?content_id=137537 Property deals down 40%