Daily Report August 25th Friday

Nifty (3370) SUPPORT-3354-3337-3310 RESISTANCE-3398-3429-3475 Nifty range 3366-3450 now one should have more aggressive stop loss and it has to be placed at 3337 and we need to break above 3400 and close. Nifty is showing signs of reaching target of 3800 in 2months but each and every day would be a struggle between bulls & bears till a new high is reached so there is no place for complacent. TOP 5GAINERS=IPCL-PNB-RELIANCE-GAIL-HINDALCO TOP5LOSER=ABB-ONGC-REL-SAIL-BHEL. P/E=18.91 p/b=4.56 adv=42 dec=8 NSE adv: 490 dec: 419 -vol-rs.6747crs

Sensex (11531) SUPPORT-11447-11380-11305 RESISTANCE-11598-11688-10772 Sensex has done with its correction now it should target higher levels markets would be very bullish till 11447 is not cut on the lower side and Thursday close gives a confirmation for a gap up open and we could possibly see one more day of big gains. TECH=WIPRO+INFY+SATYMCOMP+TCS & RELIANCE would possibly do the magic.
8dma=10457 13dma=11305 21dma=11103 34dma=10854 55dma=10560 OPEN=11367 HIGH=11566 LOW=11297 BSE adv: 1346 dec: 1121 -vol-rs.3164crs
Fiis seller rs.9crs and Mutual funds seller rs.28crs on Wednesday, Fiis buyer rs.3810crs in August month and buyer rs.16557Crs in 2006, mutual fund buyer rs.226crs in August month. F&O DATA Fiis sell rs.535crs in nifty future and sell rs.398crs in stock future on 24th August and provisional Fiis sell in cash rs.24crs source NSE website

Day That Ended: Market opened week and gained strength as the day progressed and short covering towards the end made Nifty fut to close at premium and OIL-METALS-AUTO where the sectors which gained. The rise has been with rise in volumes with positive advance to decline ratio and no major negative news in markets for now that is major positive news. Iran response and reaction would take time and it would cool off oil markets and with France sending more troops Lebanon there is temporary peace in place now in Middle East Crude $72.82 moved up due to Tropical Storm Ernesto. International markets U.S closed positive Indian ADRs mixed with more positive bias EURO market closed big positive and ASIAN markets has opened on a positive note.
Outlook for Friday: Markets to be positive with TECH stocks which would make a big difference soon BSEIT & BSETECK is giving a impression that they would give nearly 30% returns soon. RELIANCE-IPCL have given a good breakout and soon all time high would be breached, markets staying at higher levels would force short to push the markets up and TITAN-SBIN-BHEL- TECH & AUTO SECTOR stocks would be in limelight with Metals.
http://in.groups.yahoo.com/group/prabhakar-views/files/daily%20update here delivery volumes is loaded and HEROHONDA has 70% delivery and lot of info given in file & link.

STOCK TECH view: WIPRO breakout above rs.525 and would target rs.585-600 soon but one can buy in before a breakout also and the stock is showing lot of strength. PUNJLLOYD stock has a strong support at rs.730 and would give good solid reward of 15-20% and risk should be below rs.730.

NEWS:
The global emergence and resurgence of epidemics such as AIDS, tuberculosis and malaria is expected to translate into a $2 billion opportunity for Indian generic players, particularly early movers such as Cipla, Aurobindo and Lupin.(TOI)
Punj Lloyd has signed a 49:51 joint venture agreement with Germany-based KAEFER GmbH, a world leader in insulation business. (BS)
Larsen & Toubro Ltd along with its consortium partner, Denmark's Haldor Topsoe AS, has bagged an order worth over Rs 698 crore ($150 million) from Saudi Formaldehyde Chemical Company Ltd, for setting up high technology methanol and carbon monoxide plants.(ET)
Economic ministers of the Association of Southeast Asian Nations (ASEAN) and India Thursday reaffirmed their will to move forward their negotiations on trade in goods.
BP, the UK oil giant, was forced to further reduce production from its Alaskan oil field on Wednesday, after it had to shut down a gathering centre due to a mechanical failure in a compressor. That cut daily production from 200,000 barrels to 110,000 barrels, which is likely to have repercussions in the tightly-balanced oil market, which was rattled when BP last cut production from the field. (FT)
Tata Group plans to invest Rs 1.20 trillion ($25.8 billion) in the next three to five years in telecommunications, steel, chemicals, power and other industries, a Group official said on Thursday.(FE)
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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.kommersant.com/page.asp?idr=527&id=699853 Tehran's response to the proposals of the Six
http://www.newratings.com/analyst_news/article_1352615.html Tata Group acquires 30% stake in Glaceau
http://news.xinhuanet.com/english/2006-08/24/content_5002909.htm?rss=1 India to move forward FTA negotiations
http://economictimes.indiatimes.com/articleshow/1923729.cms
http://abcnews.go.com/WNT/story?id=2349435&page=1 White House Softens Iran Nuclear Response
http://www.bloomberg.com/apps/news?pid=20602099&sid=a7cfnmcsRYYA&refer=energy Crude Oil Rises as Storm Forms
http://timesofindia.indiatimes.com/articleshow/1924268.cms Pharma firms can reap $2b