Daily Report October 31st Tuesday

Nifty (3769) SUPPORT-3744-3721-3686 RESISTANCE-3804-3829-3856 Nifty range 3740-3819 today being a month end close and RBI credit policy announcement so any positive trigger 3856 can also be possible 3721-3713 would be a very strong support on the downside & stop loss for long position on a closing basis is 3680 intraday basis 3648 we still haven’t closed above 3774 which is very important for 4224 target by Jan 1st week. TOP 5GAINERS=NATIONALUM-HINDPETRO-ICICIBANK-M&M-DABUR TOP5LOSER=TATAMOTORS-SAIL-MTNL-GLAXO-ABB. P/E=20.38 p/b=4.87 adv=30 dec=20 NSE adv: 378 dec: 565 -vol-rs.8423crs

Sensex (13024) SUPPORT-12931-12815-12722 RESISTANCE-13128-13288-13441 Sensex hit a new high and 13000 mark was also crossed and closed. 12815-13441 would be the range for next 7trading days as markets has gone to uncharted, markets will move up with charts showing over brought so many technical indicators may fail to give any correct indication.
8dma=12785 13dma=12747 21dma=12600 34dma=12389 55dma=12088 OPEN=12925 HIGH=13039 LOW=12844 BSE adv: 1133 dec: 1406 -vol-rs.3711crs
Fiis buyer rs.496 crs on Friday, Fiis buyer rs.6955crs in Oct month and buyer rs.29809Crs in 2006, mutual fund rs.NOT Updated in Oct month. F&O DATA Fiis buy rs.427crs in nifty future and sell rs.192crs in stock future on 30th October and provisional Fiis buy in cash rs.915crs source NSE website

Day That Ended: Markets opened on weak note following global cues and as day progressed it became strong both index marked new high and closed at the highest level ever. Volumes are high but overall advance where lower than declines but FIIs have brought heavily and breakout for new high was on a high volume. International markets U.S markets closed mixed with DJIA closing flat & NASDAQ closing positive Indian ADRs mixed following Indian trend EURO markets closed negative & ASIAN markets has opened on positive note CRUDE $58.47 Plunging on Signs of Ample Supply & warm U.S. weather.
Outlook for Tuesday: Bullish opening with RBI credit policy being the important event today and important index stock results being HLL-TATATEA-BPCL-VSNL-DABUR stock which we track and results due today RAYMOND-HINDSANTIWARE-GAMMON-MANGALAMCEMENT-CESC-GDL-FDC-ASTRAMICROWAVE-MATRIXLAB-MANIND- COLGATE –RICOAUTO are jus few stocks today it is big list for results, investor who spend time going through the result and carefully selecting stocks can still make good return on there investment.

Intraday trading idea:
SATYAMCOMP: close-430 Buy rs.428 target rs.438-442 SL-424
ORCHIDCHEM: close-209 Buy rs.207 target rs.215-218 SL-204 (218 above breakout)
L&T: close-1301 Buy rs.1290-1294 target rs.1355-1367 SL-1275


BREAKOUT stock: http://prabhakar-views.blogspot.com RAYMOND(452): resistance rs.458 & rs.475 above which stock is a major breakout and once the levels are crossed the next target would be 548-565 levels & the stock has rs.630 as its all time high, 52week low rs.286. so a investor can buy this stock with 3-4 months view.
http://in.groups.yahoo.com/group/prabhakar-views/join


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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