Daily Report October 27th Friday

Nifty (3677) SUPPORT-3653-3634-3614 RESISTANCE-3698-3725-3774 Nifty range 3663-3725 with new F&O settlement market should see a strong opening and any move above 3725 would soon mark all time new high in nifty. 3651 levels has acted as double bottom for now and 3644-3655 would be the strong support for markets which has to be kept as stop loss for now.TOP 5GAINERS= ORIENTBANK-M&M-ICICIBANK-SIEMENS-SBIN TOP5LOSER=HINDPETRO-BPCL-BAJAJAUTO-JETAIRWAYS-RANBAXY. P/E=20.79 p/b=4.75 adv=27 dec=23 NSE adv: 503 dec: 420 -vol-rs.8888crs

Sensex (12698) SUPPORT-12632-12552-12420 RESISTANCE-12772-12905-13020 Sensex correcting in a falling channel and it has to trade above 12772 to break and give clear indication of a fresh upmove any correction which is 200-250 is welcome but anything below that it will turn into massive correction where 11700-11444 levels also will become possible, so we need a solid close being a weekend 12736 has been 2weekly close.
8dma=12770 13dma=12655 21dma=12541 34dma=12325 55dma=12019 OPEN=12636 HIGH=12718 LOW=12636 BSE adv: 1376 dec: 1084 -vol-rs.3416crs
Fiis buyer rs.168 crs & Mutual funds seller rs.4 on Monday, Fiis buyer rs.6005crs in Oct month and buyer rs.28819Crs in 2006, mutual fund seller rs.384crs in Oct month. F&O DATA Fiis buy rs.1196crs in nifty future and sell rs.404crs in stock future on 26th October and provisional Fiis buy in cash rs.282crs source NSE website

Day That Ended: Market opened on a positive note, remained range bound till the mid session and showed sharp rise towards the end with BANK Nifty outperforming markets gaining 4% and METAL was one more sector to gain while CD-consumer durable correcting 3.72%, MARUTI-M&M posting results which was above market expectation and they margins expansion helped them. PHARMA companies like WOCKHARD-CIPLA-DABUR have also posted excellent results with growth around 35-40% and till now major disappointing results has been Auto 2wheeler segment. International markets U.S markets positive with Indian ADRs closing positive EURO markets mixed ASIAN markets opening negative CRUDE $60.45
Outlook for Friday: Positive open and if markets can sustain higher levels we would see good gains next week, Pharma stocks has seen good delivery buying . Markets being near its all time high people investing now should be prepared for a correction which can be 10-15% anytime and sometimes we would get carried away by the euphoria of the markets and overtrade to lose heavily so please avoid these common mistake, MARUTI-DRREDDY-AUROPHARMA-CASTROL-WOCKHARD-VSNL-NATIONALUM-TATASTEEL-WIPRO would still be the picks which can give good solid returns for a investor.


GRAPH views: http://prabhakar-views.blogspot.com CASTROL(237) the stock has broken out from its trading range and should soon target rs.268-275 already buy was given at rs.220 for a target of 300-320 which is a longer term target in very short term we should see rs.268-275.
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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.