Daily Report October 12th Thursday

“There is more money to be made waiting than, by buying and selling!

Nifty (3558) SUPPORT-3538-3506-3472 RESISTANCE-3589-3620-3642 Nifty crucial range 3538-3589 with a 5point error & above 3600 close only bullish, markets always has its unique way of fooling people most of the time so trader avoid market as sometimes bigger money is made sitting on the sideline than putting u r trade on daily basis. Investor with more than 6-8month view can use correction to add slowly. (Any close below 3508 we can have a correction which can be 3330-3352 there is no panic situation it is always better to know the downside) TOP 5GAINERS= INFOSYSTCH-TCS-HDFCBANK-SATYAMCOMP-HINDPETRO TOP5LOSER=SAIL-TATAMOTORS-SIEMENS-HINDALCO-GUJAMBCEM. P/E=20.68 p/b=4.59 adv=13 dec=37 NSE adv: 216 dec: 724 -vol-rs.6809crs

Sensex (12353) SUPPORT-12291-12201-12082 RESISTANCE-12454-12526-12624 Sensex below 12321 would be very crucial, profit booking and sector rotation is happening, 12400 around range 10days over & 13th day happens on Monday which would be a crucial but it is very normal for markets to correct or move sideways before gaining strength to give a breakout to cross its all time high.
8dma=12358 13dma=12334 21dma=12205 34dma=12029 55dma=11655 OPEN=12446 HIGH=12514 LOW=12301 BSE adv: 817 dec: 1690 -vol-rs.3688crs
Fiis buyer rs.96 crs & Mutual funds seller rs.108 on Tuesday, Fiis buyer rs.825crs in Oct month and buyer rs.23639Crs in 2006, mutual fund seller rs.96crs in Oct month. F&O DATA Fiis sell rs.297crs in nifty future and buy rs.99crs in stock future on 11th October and provisional Fiis sell in cash rs.365crs source NSE website

Day That Ended: INFOSYS posted very good results which made markets to open higher and slowly drifted down to close in negative, statement from finance ministry that mutual fund investment would have to follow KYC norm (know your costumer) came as negative to markets as feeling on the street. TECH results INFOSYS-IFLEX-MASTEK posted above markets results & only sector index on BSE (IT& TECH) to close positive while AUTO-HC-CG-METAL had corrected. International markets EURO markets closed positive while U.S market closed bit negative (plane crash was taken as terrorist attack and clarity terrorism apparently was not involved) ASIAN market opened positive CRUDE $ 57.55 Indian ADRs closed mixed with TECH only moving up.
Outlook for Thursday: MIDCAP-SMALLCAP corrected and these stocks any 3-4day of correction would offer good value one should be very stock specific. MANIND which got a huge order hit an upper freeze few days back to correct, good or bad results order inflow markets always has the news before U & I get so {buy on rumor sell on news is very true} people who buy slowly would get a better price. In my feeling U.S (DJIA) can perform from here & see new high in coming days, & with FIIs buying slowly in cash we would also see new high soon. METALS-AUTO-CRUDE as a byproduct stocks would start to perform better.

GRAPH views: http://prabhakar-views.blogspot.com MANIND(183) buy only in dips rs.168-175 would be the range to accumlate but 5% of wat u plan to buy should be taken first so that u track that paticular stock target rs.275 & above (52week high-302which is the all time high 52week low rs.130) this stock look good on weekly basis and people have a meduim to longer term view can accumlate.
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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.

http://www.imf.org/external/pubs/ft/issues/issues38/ei38.pdf Moving to a Flexible Exchange Rate: How, When, and How Fast?
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=261386 Reid & Taylor, the S Kumars suitings brand, is on an expansion mode.