Daily Report September 28th Thursday

To anticipate the market is to gamble; to be patient and react only when the market gives the signal is to speculate- Jesse livemore.
Nifty (3579) SUPPORT-3565-3542-3511 RESISTANCE-3607-3634-3662 Nifty range 3565-3634 being a F&O last day volatility can be more than expected, and today ONGC would be important stock to watch rs.1200 being a strong resistance. Nifty is lagging sensex by approx 3% to reach the previous high so it would be wise to look at sensex for larger moves as nifty undue weightage to ONGC can make it bit biased. TOP 5GAINERS=REL-HDFC-ORIENTBANK- MARUTI-SUZLON TOP5LOSER=M&M-HEROHONDA-BPCL-LT-WIPRO. P/E=20.87 p/b=4.74 adv=29 dec=21 NSE adv: 505 dec: 407 -vol-rs.7159crs

Sensex (12366) SUPPORT-12269-12154-12006 RESISTANCE-12431-12509-12614 Sensex opened with a gap and 12331-12339 is sustained market rally from 11444-12442 has created 3gaps now of which if 2gaps closes it would be healthy& 250 points correction would close it with today being 13th day of the rise of 998points will this happen being last day of F&O is big guess.
8dma=12190 13dma=12047 21dma=11968 34dma=11771 55dma=11335 OPEN=12359 HIGH=12442 LOW=121339 BSE adv: 1346 dec: 1157 -vol-rs.3948crs
Fiis buyer N.A & Mutual funds buyer rs.446 on Tuesday, Fiis buyer rs.4115crs in Sep month and buyer rs.21504Crs in 2006, mutual fund buyer rs.1003crs in Sep month. F&O DATA Fiis buy rs.196crs in nifty future and sell rs.95crs in stock future on 27th September and provisional Fiis buy in cash rs.410crs source NSE website

Day That Ended: Strong Euphoric opening to close with marginal gains Indian markets is moving on its own strength and we are not following global cues but we would soon see euphoria in Indian markets if DOWJONES crosses its all time high. BANKEX-HEALTHCARE where the 2sector which gained 1% while METALS had a good day too & there was news that HR coils pricing power is back which boosted steel companies. International markets U.S markets closed positive EURO markets very positive close ASIAN markets steady open with Nikkei bit stable now CRUDE has gained $62.92.

Outlook for Thursday: F&O settlement with FIIs & MF buying big this should be a day of big fight the rally for past 3yrs has been rising with its fundamental values and we saw some euphoria in APRIL-MAY which led to the crash, till markets gives good correction and till 90% of intraday player are not making money then it is a big sign euphoria hasn’t started & markets are on healthy track. I would say all good F&O stock place a buy 5-10% below yesterday close and panic would be chance to add good stocks. Value picks GDL-GAMMON-BEML-TATACHEM-CESC.

BREAKOUT stocks: http://prabhakar-views.blogspot.com MARUTI above rs.974 formation is CUP &HANDLE. RANBAXY rs.425 double top and high of almost 17weeks . AUROPHARMA RS.666 above would be major breakout.
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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.

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