Daily Report October 19th Thursday

Nifty (3710) SUPPORT-3691-3670-3634 RESISTANCE-3735-3774-3805 Range 3670-3774, AVIOD trading day I would call it with so many results in one single day it should be volatile, bullish trend is in tact & with markets jumping from 3558(close) to 3723(close) in 3trading days & didn't give any chance for the short sellers to square up so we have interesting days ahead, SL3634 (close) target 3856 still maintained. TOP 5GAINERS= SAIL-RANBAXY-DRREDDY-NATIONALUM-ICICIBANK TOP5LOSER=BAJAJAUTO-IPCL-WIPRO-HDFCBANK-HDFC. P/E=21.33 p/b=4.79 adv=27 dec=23 NSE adv: 442 dec: 481 -vol-rs.7997crs

Sensex (12858) SUPPORT-12755-12680-12568 RESISTANCE-12953-13025-13134 Sensex
Upmove would be healthy if a correction till 12755 with festive season profit booking which can happen. BSE AUTO corrected heavily while BSE Health Care gained.

8dma=12628 13dma=12524 21dma=12411 34dma=12200 55dma=11851 OPEN=12875 HIGH=12920 LOW=12830 BSE adv: 1193 dec: 1273 -vol-rs.4030crs

Fiis buyer rs.389 crs & Mutual funds seller rs.121 on Tuesday, Fiis buyer rs.4445crs in Oct month and buyer rs.27259Crs in 2006, mutual fund seller rs.130crs in Oct month. F&O DATA Fiis sell rs.97crs in nifty future and sell rs.320crs in stock future on 18th October and provisional Fiis buy in cash rs.686crs source NSE website

Outlook for Thursday: METALS should do well as results of hindalco indicate profits have been maintained QoQ & Nalco head also said 2nd quarter would be same of 1st quarter which has been good---TATASTEEL emerging as major contender for corus. Pharma is where activity has jus started and once results flow comes in markets would get a feel of the performance till now results has been good.

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(BETTER TO WAIT FOR FEW MORE DAYS TO SEE RESULTS AND PREFORMANCES SO I HAVE AVIODED PICKS)

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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