Daily Report September 15th Friday

Nifty (3471) SUPPORT-3449-3426-3398 RESISTANCE-3498-3535-3564 Nifty range 3458-3535 and NIFTY FUT above 3492 shorts would rush to cover; any correction till 3426 on a closing basis also is within bull orbit in case markets breaking above 3500 fresh buying would emerge and month end target is 3650 in my view, already given target of 3800 by oct end is also maintained till 3328 on downside is maintained. TOP 5GAINERS=ICICIBANK-GRASIM-SAIL-ZEETELE-ORIENTBANK TOP5LOSER=HEROHONDA-GLAXO-HDFC-REL-HDFCBANK. P/E=19.91 p/b=4.53 adv=31 dec=18 NSE adv: 447 dec: 473 -vol-rs.8424crs

Sensex (11973) SUPPORT-11898-11800-11718 RESISTANCE-12054-12154-12238 Sensex has touched 12000 mark, but the street is not bullish as this is pain area and this time there is fear than fanfare. Now we staying above 12000 comfortably for a long time only would reduce fear and we should be trading in & out of this level before we move above this.
8dma=11836 13dma=11808 21dma=11695 34dma=11426 55dma=11082 OPEN=11936 HIGH=12003 LOW=11892 BSE adv: 1137 dec: 1367 -vol-rs.4047crs
Fiis buyer rs.519crs & Mutual funds not updated on Wednesday, Fiis buyer rs.1984crs in Sep month and buyer rs.19374Crs in 2006, mutual fund buyer rs.121crs in Sep month. F&O DATA Fiis buy rs.87crs in nifty future and sell rs.162crs in stock future on 14th September and provisional Fiis buy in cash rs.288crs source NSE website

Day That Ended: Markets maintained its positive trend and with BANKS & METALS sector gained while CD was one sector which moved down, SATYAMCOMP block deal gave many buzz which was denied and we would witness many more M&A activity which is where investor wealth and value is created. India GDP to grow at 8.3% in 2006 IMF which had predicted growth of 7.9% in 2006 and 7.6% next year in its last report in April & now CRUDE in Indian basket is 59$ which was 72-73 jus few weeks back which would ease big pressure on inflation BOP-balance of payment & rate hike. International markets U.S markets closed weak EURO market flat with mixed closing ASIAN market has opened weak Crude $63.30.
Outlook for Friday: Weekend & FED rate on Sep20 is making markets more on sideline the 8day correction which was given on Monday11sep exactly ends on Sep20 so is the FED likely to cut rates? This is one thing which I have in mind. Markets rises on fear and falls on greed and investor are still on the pain which they faced jus few months back but slow systematic investment always give a superior gains. Few stocks have witnessed high delivery and good volumes in both BSE & NSE like LLYODELETRIC-BHARTISHIPYARD-SKUMARNATIONWIDE-RICOAUTO jus to name a few.

STOCK TECK view: http://prabhakar-views.blogspot.com GRASIM the stock is moving in a rising channel for a very long time and buy was given at lower levels now at rs.2391 also the stock has a good upside 10-15% and can cross its high 2605(BSE) so one can slowly add this stock for a decent gains.

Counter view: Markets have recovered from the low of 8799 to 12003=3204points which is 36% rise within 3months which is very healthy and these kind of returns can happen when equity markets as a investment avenue is jus starting after few years when Indian markets become matured markets u will never get such big returns, so only many FIIs talk about India and we here trade more than investing and now CLSA says 40000 as sensex target & many say many things. Important is how many of u developed the habit of investing and nothing can be made simpler, u can buy one share in 5-10companies out of there earning in TOP 100-200 companies every month would do them world of good. Today I made request many to buy TATACHEM jus one share which would cost then rs.220 and forget for 2years some where something should be started and jus buy top 200 stocks in there bad times and over a period of time it would make world of difference, investing is a art and u would love it as u practice.


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Disclaimer: These recommendations are based on the theory of technical analysis and personal observations. This does not claim for profit. I am not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment. I am trying to consider the fundamental validity of stocks as far as possible, but demand and supply affects it with vision variations.
http://economictimes.indiatimes.com/articleshow/1992698.cms skumar
http://www.financialexpress.com/latest_full_story.php?content_id=140370 India, China to lead robust Asian growth.