Daily Report August 9th Wednesday

Nifty (3212) SUPPORT-3198-3172-3154 RESISTANCE-3260-3305-3352 Nifty range 3198-3260 if nifty stays above 3198 then we would see higher levels 3277 would be a minor resistance on the upside. Nifty failed to test 3140 on the downside and now stop loss can be improved to 3155 levels on closing basis for the target of 3381 by month end. TOP 5GAINERS=PNB-SAIL-ICICIBANK-ORIENTBANK-GLAXO TOP5LOSER=ZEETELE-VSNL-BPCL-BHEL-TATATEA. P/E=17.69 p/b=4.30 adv=43 dec=7 NSE adv: 672 dec: 229 -vol-rs.4283crs

Sensex (11014) SUPPORT-10924-10840-10780 RESISTANCE-11126-11218-11330 sensex above 10924 is a very bullish sign and above 11200 close new all high would become possible soon. Market opening is very important and any move above 11081 shorts would give support by covering there position.

8dma=10833 13dma=10672 21dma=10605 34dma=10554 55dma=10344 OPEN=10839 HIGH=11028 LOW=10839 BSE adv: 1613 dec: 818 -vol-rs.2142crs

Fiis buyer rs.115crs and Mutual funds buyer rs.99crs on Monday, Fiis buyer rs.722crs in August month and buyer rs.13469Crs in 2006, mutual fund buyer rs.132crs in August month. F&O DATA Fiis buy rs.330crs in nifty future and sell rs.134crs in stock future on 8th August and provisional Fiis buy in cash rs.165crs source NSE website

Day That Ended: Markets opened strong and made further gains to close at highest point from 19th May and advance where more than decline but volumes too low, BANKS where the major gainer but METALS-OIL sector also supported gains. $76.37 Crude oil was little changed on expectations that U.S. stockpiles are enough to cover the interruption of supply from BP Plc's Prudhoe Bay oil field in Alaska. International markets Fed finally takes a breather and holds rates steady Fed rate hikes could resume made U.S markets closed weak Indian ADRs closed strong EURO markets closed mixed and ASIAN markets opens on a weak note.

Outlook for Wednesday: Market to open steady and could make a move up later in the day, few sectors are looking good and CONSTRUCTION is one which has lot of stream left. IPCL-VOLTAS-BEML-NELCO-STER-NALCO-HEROHONDA is few stocks which are looking good in my view and can give good returns to investor. Market has closed at highest level from 19 th may and any further gains would boost confidence of investor more and good MIDCAP-SMALLCAP stocks would be in action.

VOLTAS: Buy for a return of 15-20% in 3-4 months rs.775now.


STOCK TECH view: STER would face a resistance at rs.388 once it is crossed it can target rs.408 and rs.435. VSNL breakout if the stock trades above rs.384 and would target rs.425 and even above levels. BEML this stock has strong support at rs.900 and staying above that level can target rs.1100 soon so now should have a strict stop loss below rs.898. RAYMOND is in a rising channel and chances of a big breakout is possible and if that happens can target rs.450.

NEWS:

http://www.capitalmarket.com Raymond and Belgian firm UCO NV will invest Euro 100 million each in a new joint venture company to merge their denim businesses in Europe, the US and Asia. The two firms signed an agreement in February. The merged firm will have a combined capacity of 80 million metres per annum. Healthy order-books make construction scrips glossy. Fall in rubber price revives tyre scrips, have been rising since late July 2006. From Rs 72.90 on 24 July, JK Industries jumped 39% to the current Rs 101.50. MRF has risen 26% from a recent low of Rs 2,611.70 on 25 July. Apollo Tyres has gained 18% from a low of Rs 243.75 on 24 July.

http://www.businessstandard.com Hero Honda today announced a new plant in tax-haven Uttaranchal, where the auto major will invest Rs 1,900 crore along with ancillaries. The plant will be operational by May 2007. Tata Tea plans buys in US, to focus on beverages. Tata Sons, which has interests across businesses including automobile, steel, power, finance, beverage, IT and hospitality, is keen on raising its holding in group companies, but denied the move stemmed from fear of hostile takeovers. Product development, though small in size, is one of the fastest growing segments of the offshore services market. This growth is being fuelled by companies across a range of verticals from aerospace to medical equipment seeking to load more value-added software onto their products while cutting R&D costs.

http://www.financialexpress.com Oil stocks flare up on free pricing move The Centre may allow PSU oil companies to adjust prices in tune with global trend. Corporate India reported its best quarterly growth in three years in the quarter ended June, 2006. An FE analysis of the performance of 1,717 manufacturing and service companies over the last 12 quarters reveals that net sales grew 31.61%, while net profits grew 53.32% in Q1, 2006-07 over Q1 of 2005-06. India is ranked sixth in the top ten list of the world's gold and currency reserves. The first three positions are being held by Japan, Russia and China , according to a report by the Currency Board of Hong Kong.

http://www.thehindubusinessline.com AT&T Global Network Services, is all set to make a comeback into the Indian telecom sector with the Department of Telecommunications in the final stages of giving its approval to the company's application for a long distance licence. AT&T has formed a joint venture company with Mahindras where AT&T Global holds 74 per cent equity. Hindustan Construction Company Ltd on Tuesday said it has bagged an Rs 246.40 crore contract from NTPC for construction works at Loharinag Pala Hydro Electric Power Project in Uttaranchal.

http://economictimes.indiatimes.com India could be insulated from a possible economic downturn in the United States next year as its trade exposure is evenly spread across the world, Deutsche Bank's chief economist said on Tuesday. Zenotech Laboratories on Tuesday said it has received marketing approval for 'GM-CSF' and 'G-CSF', its generic versions for treating blood disorder in cancer patients and will launch both the products in India in the next few days.



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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=136720 Flat brokerage is order of the day

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http://economictimes.indiatimes.com/articleshow/1869183.cms India lives in villages? Not for long