Nifty (3588) SUPPORT-3571-3545-3511 RESISTANCE-3614-3641-3678 Nifty range 3571-3641 this market would now develop into running correction were markets would correct itself then and there intraday and it would now move away from index, rally would turn into broader one. SL-3511 for target3856 is maintained.
TOP 5GAINERS= MARUTI-SAIL-TATASTEEL-BAJAJAUTO-ZEETELE TOP5LOSER=NATIONALUM-GAIL-ORIENTBANK-HEROHONDA-SULZON. P/E=20.92 p/b=4.76 adv=35 dec=15 NSE adv: 647 dec: 277 -vol-rs.7110crs
Sensex (12454) SUPPORT-12398-12310-12238 RESISTANCE-12528-12624-12702 Sensex has created all time Weekly-Monthly-Quarterly high on closing basis, and now it is jus 1.75% away from its all time high(12671) and it is jus time we see these levels getting crossed, with FIIs & MF being major buyers markets seeing new all time high would be possible soon.
8dma=12289 13dma=12171 21dma=12035 34dma=11844 55dma=11391 OPEN=12414 HIGH=12485 LOW=121381 BSE adv: 1609 dec: 896 -vol-rs.3704crs
Fiis buyer rs.719crs & Mutual funds buyer rs.308 on Thursday, Fiis buyer rs.5424crs in Sep month and buyer rs.22814Crs in 2006, mutual fund buyer rs.1218crs in Sep month. F&O DATA Fiis sell rs.180crs in nifty future and sell rs.104crs in stock future on 29th September and provisional Fiis buy in cash rs.903crs source NSE website
Day That Ended: Markets more of a range bound movement due to long weekend & activity has shifted beyond index 50stocks and markets breath would prove the point, India’s GDP grew 8.9% in the April-June 2006 quarter from a year earlier, boosted by manufacturing and services output boosted the markets sentiment and FIIs-MF buying is highly visible. GDP growth boosted AUTO-FMCG-METALS & CONSUMERDURABLE sectors good buying was visible, PAPER-CEMENT-TEXTILES-CONSTRUCTION would be the sector to watch in coming days.
Outlook for Tuesday: Stock specific bullish with month starting, AUTO-CEMENT sales figure and results season has ticked in now we have to be very stocks specific and many misleading information would be passed with vested interest and news flows would be fast and with high degree information and if u cant interpret the news correctly jus avoid it, as wrong doing would cost more. TEXTILES sector stock with brand & retails presence RAYMOND-KKCL (killer brand)-RSWM (mayur brand) & ALOKINDUSTRIES buying Czech firm Mileta International would be few stocks I would say looking good with festival season across globe for next 3-4months strong $ & Yuan would boost Indian textile export.
VALUE pick: CASTROLINDIA-GAMMON-RAYMOND-PUNJABTRACTOR-TATACHEM-CESC-EIDPARRY-BATAINDIA-MANGALAMCEMENT-TNPL-BILT.
STOCK TECH views: http://prabhakar-views.blogspot.com MANGALAMCEMENT(204in bse): target rs.230& rs.260-265 upside the stock is a breakout above rs.210 and the target would would come faster than expected. CASTROLindia: rs.220 buy for a target rs.300-320 45% upside from the current levels, rounding bottom formation.
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Counter view: DOW JONES –DJIA has crossed its all time high (11750) which was clocked in Jan14, 2000, how does this influence Indian markets. Recent bull markets in India namely 1992-1996-2000 which I have closely watched have been associated with DJIA reaching new peaks and highs during the same period and subsequent correction also. But Indian markets have entered different phase of bull markets which many wouldn’t agree or understand, where after FEB2000 high SENSEX clocked again in jan2004 its all time high and after which we reached a peak of 12671 on11MAY2006 and this has been a continuous bull market and now wat is in store as the facts above is history. Outlook- I feel Indian markets would find a major rally which can possibly take markets to great heights and as before euphoria would be built and if u can refresh u r memory when markets where at 9000 levels in sensex I had given a target of 16000in MAY2007 and these thing can happen. Caution till now markets from 2003-2006 has been moving up with strong fundamentals and growth of the country and it’s corporate, we are still no where near euphoria phase but I foresee that kind building up faster in future so advise to investors would be AVIOD 1) Margin+F&O, 2) take u r own decision advise would be free but danger lies ahead, 3) if u don’t understand markets dynamic or u r capital is small to divide u risk avoid direct investment take a mutual fund route 4) good management would always command premium for business and never compare P/E multiple of that with a growing concern it would be a very costly mistake. 5) Many IPO would come take cautious approach 6) operators stocks would find fancy & management also would support by giving good news flow have a close watch, these theories are based on my experience & observation of the markets and I have no proof to support the above so people reading this should take there own informed decision.
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://www.bloomberg.com/apps/news?pid=20601091&sid=apUl6SM2rx5E&refer=india Hero Honda Returns to Monthly Increase in Sales of Motorbikes
China's ICBC-: Industrial and Commercial Bank of China (ICBC)the World's Largest IPO Ever, bank is offering $19 billion worth of shares says business week.
http://www.businessweek.com/smallbiz/content/sep2006/sb20060913_157784.htm?campaign_id=rss_as Are Indians the Model Immigrants?
Saving more requires that we consume less or work more either way sacrifice---taken from FED chairman Ben S. Bernanke for which the link is given below in continuation to that I would like to add few things to Indian context so one has to read that to understand this. Japan had a boom time economy in 1980-1990 U.S in 1990-2000 & now India is having boom End year will be know only when crash landing or soft landing of the economy happens in 5-8 yrs, why should one discuss this topic now- we have a younger generation which is pushing the Indian boom they are earning at a faster pace than there previous generation there are more independent in there life style & spending more than what they can earn ( credit off take of the econo
my by the retail sector credit cards sale and money spend using them are few pointers ) or committing there future salary now itself as they spend on housing, cars & many more things on easily availed credit not a bad idea.
er system there would be shortage of skilled labour soon, even basic labor in many states metro are becoming very difficult & expensive to get )
VSNL moved with good volumes after the government has accorded final approvals to the de-merger scheme and reportedly will bear all stamp duty (transaction) costs arising from the de-merger which was a major issue between GOVT & TATA now it is being resolved, and as per many reports VALUATION of real estate per share comes near rs.200 as a conservative figure whereas rs.300-rs.400 also can be possible if GOVT can deal efficient as per reports. Real estate 773acres of surplus land- real estate in Delhi -70 acres in Greater Kailash and 58 acres in Chattarpur--- Dighi property in Pune- 524 acr
es. And the major clarification= Current shareholders will also benefit, all shareholders of VSNL barring the major shareholders the TATA group.
