Daily Report September 8th Friday

Nifty (3454) SUPPORT-3432-3411-3384 RESISTANCE-3480-3510-3532 Nifty range 3432-3474 and down side support come at 3410 &3384-3377 levels and being last day of the week a panic would be good chance to add good stocks where value would come and markets correction always eliminates excess and gives strength to markets and target of 3800 by end OCT is my view. TOP 5GAINERS=JETAIRWAYS-HDFC-SAIL-MARUTI-ZEETELE TOP5LOSER=CIPLA-BPCL-HINDPETRO-SATYAMCOMP-BAJAJAUTO. P/E=19.79 p/b=4.53 adv=14 dec=35 NSE adv: 383 dec: 541 -vol-rs.6290crs

Sensex (11853) SUPPORT-11782-11694-11616 RESISTANCE-11948-12014-12108 Sensex has started it correction downside seem to be very limited in my view, we have two gap which are not filled and whenever gap gets filled we can have a pullback so 11795 & 11633 are the gap levels which we have to watch if that is getting squared in case we don’t close the gap markets can surprise on the higher side.
8dma=11814 13dma=11703 21dma=11564 34dma=11223 55dma=10940 OPEN=11893 HIGH=11921 LOW=11815 BSE adv: 1246 dec: 1294 -vol-rs.3312crs
Fiis buyer rs.451crs and Mutual funds buyer rs.128 on Wednesday, Fiis buyer rs.1556crs in Sep month and buyer rs.18945Crs in 2006, mutual fund buyer rs.15crs in Sep month. F&O DATA Fiis sell rs.849crs in nifty future and sell rs.330crs in stock future on 7TH September and provisional Fiis sell in cash rs.89crs source NSE website

Day That Ended: Market opened on a weak note and drifted down on back of weak global market cues and fear of global slowdown in many parts of the world effected sentiment and it has given much needed correction to Indian index even after crude falling to 5months low DATED BRENT $65.37 while NYMEX FUT $67.17. Indian markets saw many fresh announcement many AUTO major announcing expansion and fresh investment and ACC looking to expand in east, . International markets U.S markets closed weak EURO markets closed weak ASIAN markets opened weak and drifting down Indian ADRs comparatively stable.
Outlook for Friday: Market can open weak based on global cues but selective buying would limit the fall be stocks specific accumulate stocks which has growth potential, being Friday traders wouldn’t like to carry open position so few stocks would have panic sale without reason where holding those for jus 10-15% days would give good returns. HLL move to sign agreement with Cap Gemini would boost the stock, METAL price sudden hike can boost that sector, INFOSYS management statement that they would meet guidance should boost that stock, AUTO & AUTO ANCILLARY are seeing good buying. M&M-PUNJABTRACTOR-HINDSANTIWARE-AUROPHARMA-RAYMOND would be few good picks.

STOCK TECH view: http://prabhakar-views.blogspot.com RAYMOND: buy rs.440-455 1st target rs.525 2nd target rs.580 stock is a breakout above rs.450 and holds good potential for big upside and 200dma is placed at rs.438 so the stock staying above that would boost sentiment and stop loss should be placed below 430 on a closing basis.

NEWS:
Hindustan Lever (HLL) has signed an agreement with Cap Gemini S.A, the parent company of the Capgemini Group, to take a 51% stake in Unilever India Shared Services known as Indigo, Indigo is currently a fully-owned subsidiary of the company providing BPO services to a number of Unilever companies, including the company, around the world-(BS
Oil and Natural Gas Corp (ONGC) today approved an investment of Rs 2,300 crore for re-development of its ageing Heera and South Heera fields at Mumbai offshore in the Arabian Sea. (BS)
Suzuki and Maruti today scaled up their investment plans for the country by Rs 3,000 crore, taking the total investment to Rs 9,000 crore, and announced they would start contract manufacturing for Nissan from 2008-09. (BS)
ACC is planning to invest more than Rs 1,100 crore in eastern region over a period of four years to ramp up cement capacity and to set up new ready mix concrete plants.(BS)
The Union Cabinet on Thursday approved a $720 million realty fund by Housing Development Finance Corp for foreign investors. (FE)
Mahindra and Mahindra (M&M) on Thursday said it was looking for acquisitions in the auto components space in the European markets.(BL)
Commerce & industry minister Kamal Nath has said that export target of $126 billion set for 2006-07 was likely to be exceeded going by the 40% growth momentum seen in the first quarter of the fiscal. (ET)
Tata Consultancy Services (TCS), has been named as one of the world's top BPO providers by the International Association of Outsourcing Professionals (IAOP), for 2006, a press release issued here on Thursday said. (ET)

http://in.groups.yahoo.com/group/prabhakar-views/join join and view files and links it is like a library.

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/latest_full_story.php?content_id=139700 Infosys on track to meet guidance: Nilekani .
http://www.thehindubusinessline.com/2006/09/08/stories/2006090805260100.htm Auto majors line up big investment plans.