Daily Report October 10th Tuesday

Nifty (3567) SUPPORT-3533-3506-3485 RESISTANCE-3591-3612-3645 SL-3511 Nifty is moving in a very tight range, 3539-3585 would be that range with error of 6 points which ever side it moves beyond that would be the direction of markets & above 3588-3591 short would take markets to great height. While for investor there is no panic for traders move below 3526-3533 would be big panic 3506-3475-3439 can be the downside support & with few global events and result season it would be anybody guess where support would come. TOP 5GAINERS= LT-CIPLA-GUJAMBCEM-GRASIM-INFOSYSTCH TOP5LOSER=HDFC-REL-TATASTEEL-SUZLON-ORIENTBANK. P/E=20.80 p/b=4.73 adv=21 dec=29 NSE adv: 588 dec: 346 -vol-rs.5767crs

Sensex (12365) SUPPORT-12304-12238-12112 RESISTANCE-12439-12518-12624 Sensex opened with a downside gap and during the course of the day it got closed which signifies strong bullish undertone, but till we don’t break 12480-90 levels we should know the possible risk downside panic situation low which be 11824 or 11664 in case we break 12100 only till then be positive in markets.
8dma=12362 13dma=12308 21dma=12145 34dma=11976 55dma=11575 OPEN=12335 HIGH=12429 LOW=12261 BSE adv: 1671 dec: 855 -vol-rs.3362crs
Fiis buyer rs.71 crs & Mutual funds buyer rs.116 on Friday, Fiis buyer rs.774crs in Oct month and buyer rs.23588Crs in 2006, mutual fund buyer rs.93crs in Oct month. F&O DATA Fiis sell rs.18crs in nifty future and sell rs.300crs in stock future on 9th October and provisional Fiis sell in cash rs.71crs source NSE website

Day That Ended: Market opened weak on the news that North Korea tested nuclear missile which had great negative impact on ASIAN markets, Indian markets recovered and the volumes were low. With PM in EURO few major announcement can be expected and as per report big lobbying is going on by both ends and it can a WIN-WIN situation. International markets U.S markets closed positive Indian ADRs mixed with TECH stock positive EURO markets positive ASIAN markets has opened positive Crude $ 59.90.

Outlook for Tuesday: CEMENT stocks are looking good MANGALAM CEMENT-GUJAMBCEMENT-ULTRATECH-INDIACEMENT are still looking very good, SHREECEMENT would come out with results and which can be a possible trigger for this sector. INFOSYS-MASTEK would come with results on OCT 11 which would start the TECH results where ADR movement & delivery volumes suggest FIIs are very bullish on this sector. VALUE buy: RSWM-GDL-HPCL-WIPRO-MAGALAMCEMENT-CASTROL

GRAPH views: http://prabhakar-views.blogspot.com MASTEK (354) with a stop loss below rs.338 the stock can be brought on dips target rs.381 & rs.405 with result on OCT 11 one should have a strict stop loss as it has formed a triangle.
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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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