Daily Report October 23rd Monday

Nifty (3683) SUPPORT-3663-3634-3605 RESISTANCE-3711-3735-3774 Nifty is finding hard to close above 3700 now with 2days more for F&O settlement and this week having some holiday it would be real hard time. 3660-3727 seems to be a fixed range for now SL3634 for long position on closing basis. TOP 5GAINERS= ABB-HINDPETRO-BPCL-TATASTEEL-ITC TOP5LOSER=DREDDY-PNB-WIPRO-HCLTECH-RCOM P/E=20.94 p/b=4.76 adv=29 dec=19 NSE adv: 706 dec: 199 -vol-rs.1593crs

Sensex (12736) SUPPORT-12644-12551-12480 RESISTANCE-12830-12924-13047 Sensex has to move beyond 13000 mark this week failing which we can correct and this would close 12558-12632 gaps which would be termed as sign of weakness.
8dma=12764 13dma=12612 21dma=12498 34dma=12281 55dma=11953 OPEN=12785 HIGH=12837 LOW=12714 BSE adv: 1836 dec: 486 -vol-rs.1111crs
Fiis seller rs.37 crs & Mutual funds seller rs.71 on Thursday, Fiis buyer rs.5416crs in Oct month and buyer rs.28230Crs in 2006, mutual fund seller rs.378crs in Oct month. F&O DATA Fiis buy rs.344crs in nifty future and buy rs.13crs in stock future on 20th October and provisional Fiis buy in cash rs.17crs source NSE website

Day That Ended: Markets is witnessing rollover of F&O position which has been slow till now with many results yet to be announced markets seem to be in wait & watch mode. METALS markets seem to have activity again after International prices are moving up.
International market U.S markets positive with DJIA closing above 12000 mark 2day in a row EURO markets positive close and ASIAN markets open positive CRUDE $ 58.94.
Outlook for Monday: Positive open but with 2days holidays in next 2days would lighten volumes so it would be best to study results instead of adding stocks now. VSNL & TATASTEEL are stock with news which should be watched, many companies has posted good results and guidance also is very good so if one is having a long term view can slowly start to add fresh long position.

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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.