Daily Report September 22nd Friday

Nifty (3553) SUPPORT-3528-3504-3486 RESISTANCE-3580-3605-3638 nifty staying above 3528 would target higher levels any correction in intraday short covering would push markets up & now stop loss for 3856 target is pegged at 3471. High speculative (short or long) position square up would happen due to sun outage which would keep markets very volatile. TOP 5GAINERS= ORIENTBANK-HINDLEVER-BAJAJAUTO-SUZLON-BHEL TOP5LOSER=JETAIRWAYS-HEROHONDA-RCOM-LT-ZEETELE. P/E=20.38 p/b=4.63 adv=45 dec=5 NSE adv: 557 dec: 357 -vol-rs.7132crs

Sensex (12274) SUPPORT-12218-12130-12040 RESISTANCE-12348-12456-12564 Sensex created one more gap up 12128-12167(which would be a strong support) and there was no sign of markets correcting to fill the gap instead we closed above the major pain area 12238 and important would be highest weekly close for sensex is at 12359 & today’s close if it happens above that it would boost the sentiment.
8dma=11995 13dma=11932 21dma=11841 34dma=11616 55dma=11217 OPEN=12167 HIGH=12285 LOW=12167 BSE adv: 1372 dec: 1138 -vol-rs.3453crs
Fiis buyer rs.236crs & Mutual funds seller rs.269on Wednesday, Fiis buyer rs.3942crs in Sep month and buyer rs.21332Crs in 2006, mutual fund buyer rs.276crs in Sep month. F&O DATA Fiis buy rs.962crs in nifty future and sell rs.154crs in stock future on 21ST September and provisional Fiis buy in cash rs.235crs source NSE website

Day That Ended: Markets opened strong and advanced to close near the days high, many advance tax figures where reported by media which I have listed below & these figure gave a big boost to markets already report suggest that 36% higher advance tax paid by corporate & Advance tax payment of 8 Sensex firms up 400% in Q2. All sector gave gains and FMCG gained on pricing power coming back after HLL hiked prices and ITC rumour of doing so AUTO stock moves on lower crude & metal price. International market U.S markets corrected INDIAN ADRs also corrected with sentiment of U.S market EURO MARKETS closed positive ASIAN markets has opened on a weak note CRUDE-$61.90.

Outlook for Friday: Markets would see some speculative square off due to sun outage which starts from Monday25SEP has been the worst time for traders & ends Monday9OCT (time when market changes course after break). CEMENT-METALS-AUTO advance tax payments have surprised markets, PHARMA is one sector which is attracting lots of attention. Market is at a high risk zone and investor should know the risk of wat they are doing as stock markets world over are effected by many events which is not so easily understandable sometimes accessible (for EG. THAI military rule) so protect urself always well and F&O & margin funding is very risky at this stage.
ACC-GUJAMBCEMENT-GRASIM-TATASTEEL-NALCO-HINDALCO-M&M-IPCL-BIOCON-LLYODELECENGEERING would be stock which can give 5-8% in 7-10days.

STOCK TECK view: http://prabhakar-views.blogspot.com IPCL stock has given a breakout and should target rs.340-350 which is 10-12% from the current close this is a trading movemutum stock where u buy higher & sell higher as this stock has enetered uncharted territory so a strict stop loss at rs.298 is to be maintained.

http://in.groups.yahoo.com/group/prabhakar-views/join

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.

Advance Tax (Sept, YoY): SBI - Rs 863 crore Vs Rs 559 crore
Advance Tax (Sept, YoY): ICICI Bank - Rs 450 crore Vs Rs 250 crore
Advance Tax (Sept, YoY): RIL - Rs 446 crore Vs Rs 253 crore
Advance Tax (Sept, YoY): IOC - Rs 211 crore Vs NIL
Advance Tax (Sept, YoY): HDFC Bank - Rs 160 crore Vs Rs 120 crore
Advance Tax (Sept, YoY): Grasim - Rs 155 crore Vs Rs 80 crore
Advance Tax (Sept, YoY): BOB - Rs 150 crore Vs Rs 110 crore
Advance Tax (Sept, YoY): Bajaj Auto - Rs 125 crore Vs Rs 110 crore
Advance Tax (Sept, YoY): ACC - Rs 125 crore Vs Rs 5 crore
Advance Tax (Sept, YoY): Guj Amb - Rs 120 crore Vs Rs 20 crore
Advance Tax (Sept, YoY): BPCL - Rs 105 crore Vs NIL
Advance Tax (Sept, YoY): Siemens - Rs 45 crore Vs Rs 28.5 crore
Advance Tax (Sept, YoY): HLL - Rs 80 crore Vs Rs 60 crore
Advance Tax (Sept, YoY): M&M - Rs 99 crore Vs Rs 46 crore
Advance Tax (Sept, YoY): L&T - Rs 80 crore Vs Rs 50 crore
Advance Tax (Sept, YoY): Tata Motors - Rs 75 crore Vs Rs 55 crore
Advance Tax (Sept, YoY): Tatachem- Rs.56crore VS Rs 50 crore
Advance Tax (Sept, YoY): Hindalco-Rs 230 crore Vs Rs 135 crore
http://www.financialexpress.com/fe_full_story.php?content_id=141175 Advance tax payment of 8 Sensex firms up 400% in Q2
http://www.businessstandard.com/common/storypage_c.php?leftnm=11&bKeyFlag=IN&autono=5930 US to be hit by recesssion in '07: Spence.
http://www.financialexpress.com/latest_full_story.php?content_id=141094 L&T to earn Rs 4 bn from expansion