Daily Report September 5th Tuesday

Nifty (3476) SUPPORT-3453-3433-3405 RESISTANCE-3510-3538-3564 Nifty range 3453-3538 any correction till 3450 is healthy and one should have a stop loss at 3424 till that is not broken markets is looking good and 3580-3620 can be possible before a correction and before a target of 3800 by Oct end can be possible. Nifty has broken from a range and any move up would be faster and TECH-AUTO is leading the rally. TOP 5GAINERS=DABUR-ZEETELE-HINDPETRO-TATAMOTORS-MARUTI TOP5LOSER=DRREDDY-HEROHONDA-PNB-SAIL-M&M. P/E=19.92 p/b=4.56 adv=42 dec=8 NSE adv:633 dec:277 -vol-rs.5691crs

Sensex (11914) SUPPORT-11830-11770-11685 RESISTANCE-12014-12108-12238 Sensex has created one more gap and markets didn’t test the gap intraday which can mean sensex can cross 12000 and new high also can be possible soon.
8dma=11693 13dma=11608 21dma=11421 34dma=11073 55dma=10839 OPEN=11824 HIGH=11939 LOW=11824 BSE adv:1627 dec:926 -vol-rs.2879crs
Mutual funds seller rs.118crs on Friday, mutual fund seller rs.118crs in Sep month. F&O DATA Fiis buy rs.479crs in nifty future and sell rs.61crs in stock future on 4TH September and provisional Fiis buy in cash rs.342crs source NSE website

Day That Ended: Markets opened with gap and stayed high volumes were lower, but advance to decline ratio was very good with AUTO-TECH-CD-CG-BANKEX and almost all sectors gaining. International markets U.S on a holiday EURO markets closed very bullish Crude $68.22 after 4months we are seeing crude staying below 70 for so many days. Packing industry & man made fibre stocks are moving up with crude falling and pharma is one more sector looking up.
Outlook for Tuesday: Bullish till markets doesn’t give any clear sign of reversal, as pointed before TECH majors are moving up and collectively they would be the best returns on the index. AUROBHINDOPHARMA has given a breakout above 655 and would soon give 10-15% returns if the stock can trade above 655 for one more day, MICROINK-VENUSREMEDIES-GREAVESCOT are few stocks which are looking good on graph and can give good returns soon. Crude now staying below $70 and lower side possible would boost HPCL-BPCL-IOC-CENTURYENKA-INDORAMASYST-IPCL and many more crude linked stocks.

STOCK TECH view: MICROINKS (285) buy with rs.280 as stop loss; above rs.302 the stock would give a breakout this stock has corrected massive from rs.723 and 52week low 242 so have a strict stop loss and run the stock with trailing stop loss target rs.380-410 possible. VENUSRemdies (366) breakout above rs.381 and can target rs.450-475 in 7-8 weeks if a breakout with good volumes happen and this is a good investment stock also.

Counter view: Always check your accounts: there is so much of news that stocks disappear from your DP account and someone is withdrawing cash using fake ATM cards and many more internet fraud are reported and this can be contained if only people are vigil about there holding and account. 1) always cross verify and check your accounts 2) if u find any mistake are short fall please report the mistake in writing and post copy to higher official and make it with register post with acknowledgement due. 3) Get regular statement and verify with the transaction which u have done and remember doing this on a regular basis would save u. People should remember these kinds of frauds are done by very few employee and the days of trusting days of trusting XYZ they have gem of staff and no fraud can be reported is gone as demand for skilled labour has grown huge and that is made things worst. And when u notice any fraud are difference in accounts I asked to send a reminder by letter as when u report to one person u run a risk of shielding a fraud as he would jus do some adjustment and escape but when reported to many people the real truth would come out and u would save many people account.

NEWS:
The Ministry of Chemicals and Fertilizers has sought the Finance Ministry's approval for extension of the time limit on tax exemptions provided to R&D activities in the pharma sector. (BS)
Biocon subsidiary Syngene International has signed an agreement with Sweden's Innate Pharmaceuticals AB for jointly manufacturing and marketing drugs against bacterial diarrhoeal disease. (BS)
Kalpataru Power Transmission has completed a qualified institutional placement (QIP) for an amount of Rs 347 crore ($75 million) at a price of Rs 727 per share, a premium of 2.7 per cent to the three-month average price of the stock. (BS)
India's state-run explorer Oil and Natural Gas Corp Ltd (ONGC) plans to spend Rs 600 billion ($13 billion) during 2007-12 to raise its total production to 140 million tonnes, a top official said on Monday. (FE)
Gujarat State Petronet Ltd has informed the BSE that the company has signed an agreement with Reliance Industries Ltd for transportation of 11 mmscmd gas from Bharuch to Jamnagar for a period of 15 years starting from first quarter of financial y ear 2008-2009. (BL)

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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.thehindubusinessline.com/2006/09/05/stories/2006090502301400.htm
http://www.bloomberg.com/apps/news?pid=20601012&sid=a.eZ2d3_5A9k&refer=commodities crude at 15 week low.