breakout above 3212 but failed to sustain higher levels range 3174-3245 now
the stop loss can be raised to 3140 levels for short term long position.
Volumes where good today and 2days close above 3183 would be bullish for
markets. And fed meeting next week and rate hike in U.K is making markets
more sideways and by next week a clear picture would emerge. TOP
5GAINERS=RANBAXY-ABB-HDFC-HDFCBANK-GLAXO TOP5LOSER
=GAIL-BHEL-JETAIRWAYS-HINDLEVER-TATATEA. P/E=17.90 p/b=4.35 adv=26 dec=24 NSE
adv: 562 dec: 346 -vol-rs.6363crs*
*Sensex (10923) SUPPORT-10853-10763-10640 RESISTANCE-11058-11179-11244
Sensex opened with a gap up and couldn't sustain at higher levels if markets
doesn't close above 11000 levels we see some correction before an upmove
starts. Markets have almost crossed all moving averages so if the upmove can
sustain we will see a fresh bull rally and big one also as Fiis buying is
visible in markets.*
*8dma=10718 13dma=10510 21dma=10570 34dma=10479 55dma=10329
OPEN=10929
HIGH=11081 LOW=10875BSE adv: 1527 dec: 937 -vol-rs.2937crs *
*Fiis buyer rs.140crs and Mutual funds seller rs.100crs on Wednesday, Fiis
buyer rs.413crs in August month and buyer rs.13160Crs in 2006, mutual fund
seller rs.216crs in August month. F&O DATA Fiis buy rs.438crs in nifty
future and buy rs.45crs in stock future on 3rd August and provisional Fiis
buy in cash rs.227crs source NSE website*
* *
*Day That Ended:** Market opened on a positive note and gave big breakout
good volumes with positive advance decline ratio, end session profit booking
and panic due to surprise move to raise interest rate by bank of **England**.
SUGAR-CONSTRUCTION sector was seeing good buying and they sustained the end
of session sell off so upside still left. Fiis buying is visible both in F&O
and news that MF have collected money in JULY is a positive sign that
investors are confident about Indian market growth. Crude $75.40 eased after
**Tropical Storm Chris weakened, International markets EURO markets closed
weak U.S markets continued its second day gain after opening weak Indian
ADRs more towards positive ASIAN markets has opened positive.*
*Outlook for Friday: **Bullish on markets stock specific big upside possible
as the breakout has happened so if markets doesn't go below Thursday low it
can be very bullish signal. AUTO index has gaped up which is a very bullish
sign and CD-consumer durables is looking very good for a big upside.
TECH-CAPITALGOODS both would move with markets and there is a big addition
in open interest in CNXIT 25% many sectoral indexes are near to breakout.
BHEL faces resistance at rs.2200 levels support exit at rs.2050 and this one
stock when moves up can move 5-8% same way down now this stock is in
positive mode so buy in dips.*
* *
*STOCK TECH views: **IVRCL has given a gap up breakout so one can buy the
stock with rs.197 as stop loss and target of rs.230-235 possible by month
end. CUMMINS has formed a likely double top at 202.40 so above
rs.203.50only it will be bullish. BILT is moving in a channel and can
target
rs.122 soon. ORCHIDCHEM can give a major breakout and above rs.192 on
closing basis the worst for the stock would be over. BHARATFORGE faces
resistance around rs.315 range once that is broken can target rs.345 and
above. ***
*NEWS:*
*http://www.capitalmarket.com **Lanxess **India** has registered a brilliant
425% growth in net profit to Rs 7.35 crore for Q2 June 2006 compared to Rs
1.40 crore in Q2 June 2005. Net sales during the period increased to Rs
114.43 crore from Rs 99.18 crore. Subhash Projects reported 770.50% surge in
net profit for Q1 June 2006 to Rs 11.49 crore as compared to a net profit of
Rs 1.32 crore for Q1 June 2005. Net sales rose 43.90% to Rs 105.18 crore (Rs
73.08 crore). Other income surged to Rs 1,105.60% to Rs 6.51 crore (Rs
0.54crore). Glenmark Pharmaceuticals has received approval from The
Drug
Controller General of **India** [DCGI] to initiate Phase II trials for its
novel, in-licensed anti-diarrhoeal product, crofelemer. The trial is
expected to commence in calendar 2006 and will be concluded within three
months from the start of dosing. *
*http://www.businessstandard.com **Offshoring of engineering services can be
$40 billion opportunity for the Indian IT industry by 2020. The largely
untapped domain also has the potential to create 250,000 jobs for Indian
engineers, according to a study by Nasscom and management consulting firm
Booz Allen Hamilton. US foreign direct investment (FDI) inflows into **India
** will increase to $ 1 billion annually by 2010, according to Indo-American
Chamber of Commerce (IACC). Investors seem to have reposed their faith in
mutual funds as their assets under management (AUM) rose by around Rs 22,966
crore in July, driven majorly by debt funds. Warburg Pincus has picked up
over 9 per cent stake in auto parts maker Amtek Auto from the open markets.
***
*http://www.financialexpress.com **Tata Power Co Ltd is in talks to buy coal
mines in Australia, **Indonesia** and South Africa
tie up fuel supplies for its proposed 15,000-megawatt capacity
expansion,a top official said. Tata Motors and Fiat **India** on Thursday made a
commitment to invest<http://www.financialexpress.com/fe_full_story.php?content_id=136219>Rs
2,000 crore in Ranjangaon near Pune to produce Fiat's Grande Punto.
***
*http://www.thehindubusinessline.com **It is advantage for Indian companies
such as Infosys, Wipro and TCS on the country's IT services arena over their
global peers including the giants like IBM and Accenture on the revenue and
profit growth parameters, a recent study shows. ***
*http://economictimes.indiatimes.com **Bharti, IBM offer to wire up all govt
departments, **Bharti Airtel and IBM are betting big on the Indian
government. The success of Taxnet, which on completion will connect 745 IT
departments in 510 cities, is pushing many ministries to wire their offices
nationally.***
http://in.groups.yahoo.com/group/prabhakar-views/join join and view files
and links it is like a library.**
* *
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.businessstandard.com/bsonline/storypage.php?leftnm=11&bKey...
*Brics PCG: 'Buy' Noida, IVRCL & Lloyd Electric** *
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