DAILY REPORT FOR 29 NOVEMBER, 2006

NIFTY: - Open 3966 High 3966 Low 3912 Close 3922

Supp 3902/3865/3842 Res 3936/3956/3976

20 EMA 3862, 50 EMA 3724, 100 EMA 3561

P/E 21.00 P/B 5.04 Adv 9 Dec 41 Vol Rs 8257.71 Crs

SENSEX: - Open 13691 High 13691 Low 13577 Close 13602

Supp 13550/13480/13450 Res 13630/13670/13740

20 EMA 13395, 50 EMA 12888, 100 EMA 12270

What happened Yesterday:-

Markets opened lower on weak global cues. Markets remained down the whole day. Still there were gains in some index stocks such as Glaxo, Sun Pharma, SBI. The biggest loser on nifty was HCL Tech which was down almost 4%. Other losers were SAIL, Satyam, Reliance Communication. Tech stocks were the biggest losers yesterday. FIIs net sold Rs 439 Cr as per provisional figure yesterday.

What shall we witness on Wednesday:-

We have seen Nifty rallying from 2596 levels in mid-June till now up to 3977. It has been a 1381 point rally on the nifty itself. It corresponds with exactly 5000 points on the Sensex. FIIs have become sellers after many days in cash markets. The Open Interest is also at a high level again after May-2006. And after such a large position in short in F&O market, markets are not able to move up. So investors[P1] are advised to take some profits and stay in good cash levels.

http://rishtrader.blogspot.com/

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.

---

[P1]. Yesterday Sensex has kept a gap between 13716 and 13691 open. Now if we are unable to close that gap quickly, we may see a large correction taking place.

tanmay gopal

DAILY REPORT FOR 27 NOVEMBER, 2006

NIFTY: - Open 3945 High 3966 Low 3935 Close 3951

Supp 3932/3920/3900 Res 3968/3990/4020

20 EMA 3843, 50 EMA 3705, 100 EMA 3545

P/E 21.17 P/B 5.08 Adv 30 Dec 20 Vol Rs 8194.92 Crs

SENSEX: - Open 13670 High 13768 Low 13665 Close 13703

Supp 13640/600/550 Res 13780/13830/13920

20 EMA 13331, 50 EMA 12822, 100 EMA 12212

What happened on Friday:-

Markets opened flat but remained up almost the whole day. Markets consolidated in a narrow band. Still there was stock-specific action. Zee, Tata steel, Dr Reddy gained by around 2% each. Siemens was the biggest loser on Nifty. It was down 8% as there was news about some embezzlement of money by top officials. The stock fell like mad on Friday on the bad news. But that case is an old case and Siemens India should not get affected much here.

What shall we witness on Monday:-

Markets have consolidated as expected. Market should open very strong as we have seen good amount of consolidation at these levels. We should see good bit of rally from here. With many people short in the markets, the target on Nifty for this week should be 4050-4100. F&O expiry for November month will give upside to this market. We have to buy on dips. There is good rollover in nifty. Weekend pressure also didn’t correct the market. With many people short, we will see huge rally in the markets. Banking and Auto sector will see good buying this week. With China facing aluminium shortage and metal prices shooting up, metal stocks can zoom up. Those stocks have seen good consolidation on charts. They look very good for the next month’s settlement.

Where’s the money:-

Nagarjuna Construction(191.55):- The stock looks good from short term perspective. Buy around 190 with Stop loss below 180 for the target of 220 and more.

ONGC(857):- Buy around 848-852 for target of 865/874 with SL below 840

Tata Motors(826):- Buy with SL of 817 for target of 832/838.

CIPLA(264):- The stock looks very good on charts. It can be bought for long term keeping targets as 425-450.

http://rishtrader.blogspot.com/

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.

tanmay gopal

DAILY REPORT FOR 24 NOVEMBER, 2006

NIFTY: - Open 3955 High 3977 Low 3934 Close 3945

Supp 3925/3905/3885 Res 3965/3975/3998

20 EMA 3832, 50 EMA 3695, 100 EMA 3537

P/E 21.14 P/B 5.07 Adv 26 Dec 24 Vol Rs 8864.68 Crs

SENSEX: - Open 13625 High 13740 Low 13625 Close 13707

Supp 13620/13560/13470 Res 13770/13850/13915

20 EMA 13292, 50 EMA 12786, 100 EMA 12182

What happened yesterday:-

Markets opened on a positive note. But could not sustain much higher levels and came down to close flat. Some volatility was witnessed in ending hours of the trading session. Top gainer on Nifty was Glaxo up 5 %. HDFC Bank and Zee tele were other major gainers. Siemens saw profit-booking as it was down 3%. Satyam Comp and Bharti Tele also lost some ground. It was a breather for the rally as we closed a bit down after 3 consecutive days of strong rally.

What shall we witness on Friday:-

Yesterday’s flat closing was just a breather that a market always needs after a strong rally. It is better that we consolidate at these levels so that we can again gain strength to go forward. For today, 3925 should be good support. Below that we may see correction around 3900. A move past 3965 can take nifty to 3975 and 3998. But we should see some consolidation between 3925 and 3975. Stock-specific action should continue.

Where’s the money:-

Apollo Hospital(464):- Buy with SL 453 for target of 485/505

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://rishtrader.blogspot.com/

tanmay gopal

DAILY REPORT FOR 23 NOVEMBER, 2006

DAILY REPORT FOR 23 NOVEMBER, 2006

NIFTY: - Open 3918 High 3960 Low 3910 Close 3955
Supp 3939/3925/3890 Res 3968/3988/4025

20 EMA 3820, 50 EMA 3685, 100 EMA 3529
P/E 21.20 P/B 5.08 Adv 32 Dec 17 Unch 1 Vol Rs 10463.59 Crs

SENSEX: - Open 13625 High 13740 Low 13625 Close 13707

20 EMA 13251, 50 EMA 12749, 100 EMA 12151
Supp 13690/13640/13570 Res 13760/13825/13870

What happened yesterday:-
Markets opened firm and remained up the whole day. Volumes were also on higher side. Siemens gained nearly 10% as it announced about orders worth Rs 40 Bn. Other gainers on Nifty were Satyam Comp, Jet airways, Rel Energy. Hind Petro, BPCL lost around 3% each on the back of rising crude prices.

What shall we witness on Thursday:-
Charts do no show any weakness yet. We can still target 3968 and 3988 today as long as we remain above 3939. Some resistance is possible around 3985-3990. But we should never forget that we are at all time highs and intraday correction and minor profit-booking is always a possibility.

Where’s the money:-
BHEL (2464):- Buy with SL of 2450 for target of 2490/2510

L&T (1374):- Supp 1365 Buy with SL 1358 for target 1388/1402

NALCO (222):- Buy with SL 219 for target of 225/229. Investors can also buy for a target of 280 in 3-4 months.

TISCO (473):- Buy with SL of 465 for target of 480/488/494.

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://rishtrader.blogspot.com/

DAILY REPORT FOR 22 NOVEMBER, 2006

NIFTY: - Open 3860 High 3922 Low 3857 Close 3918

Supp 3898/3874/3855 Res 3940/3955/3966

20 EMA 3806, 50 EMA 3674, 100 EMA 3520

P/E 21 P/B 5.03 Adv 46 Dec 4 Vol Rs 9098.66 Crs

SENSEX: - Open 13435 High 13630 Low 13435 Close 13617

20 EMA 13203, 50 EMA 12710, 100 EMA 12120

Supp 13555/13495/13360 Res 13690/13750/13790

What happened yesterday:-

Markets opened calmly but slowly made their way towards new highs. There was consistent buying in stocks like Suzlon, Siemens, Hind Petro, Reliance Energy and ITC. HDFC was the top loser in Nifty and was down just 0.91%. This shows the strength we had in yesterday’s buying. The top loser also didn’t lose much value. The total Adv-Dec ratio was also very good at 722 Adv v/s 215 Dec. Overall we had a very good session of trading.

What shall we witness Wednesday:-

The rally is expected to continue today. There was good buying yesterday but in my view, there was not much of short covering from F&O data. Those people are going to take this rally further. There is still a lot of room for markets to go higher as stocks like Ranbaxy, Dr Reddy, ITC, Tata Steel, Tata Motors have been laggards in this rally so far. And if they do perform, we will have a large upside from here also. We should see 3950-3980 in coming days.

Where’s the money:-

3I Infotech(184.50):- Buy with SL of 182 for target of 187-188

Astra Microwave (158):- Buy for short term delivery with SL of 145 and target of 171-175 and 190+.

BHEL(2420):- Supp 2405 Buy for target of 2438/2465/2490 SL should be kept at 2390 for intraday trade.

IOB(116.25):- Buy with SL 114 for 118/121.

Larsen and Toubro(1347):- Support is at 1339 Buy with SL of 1323 for target of 1365/1379/1400

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://rishtrader.blogspot.com/

tanmay gopal

DAILY REPORT FOR 21 NOVEMBER, 2006

NIFTY: - Open 3853 High 3867 Low 3794 Close 3856

Supp 3838/3820/3795 Res 3885/3915/3940

20 EMA 3794, 50 EMA 3664, 100 EMA 3512

P/E 20.67 P/B 4.95 Adv 17 Dec 33 Vol Rs 9628.51 Crs

SENSEX: - Open 13391 High 13463 Low 13200 Close 13431

20 EMA 13160, 50 EMA 12673, 100 EMA 12090

Supp 13360/13320/13260 Res 13530/13590/13630

What happened yesterday:-

Markets opened lower on negative global cues. We saw a large bit of selling in 2^nd hour of trading. But huge buying took place after 2’O clock and we ended 3 points up on Nifty. At one point of time we were down 59 points on Nifty and 229 points on Sensex. Bharti, Jetairways, HDFC, Infosys gained smartly whereas ACC, HDFC Bank, Gail fell almost 3 % each. The recovery was led by Reliance Inds and ICICIBank which recovered well from lows.

What shall we witness today:-

Though yesterday’s sharp initial fall suggested some trend-deterioration, we managed to close above 3825. That looks as a bullish signal. From here, we should at least touch 3885-3900 levels. A new huge rally is expected if we manage to sustain above 3820 after an hour or so today. There is much news about Reliance group stocks. So Reliance Industries and other reliance stocks should remain active today and that can take markets up further up to 3950-3980 also in coming days.

Where’s the money:-

Bank of Baroda (255):- Buy with SL of 249.50 for target of 258/262/269.

Tata Steel(462):- The stock has fallen almost 15% from its recent peak at 548 to yesterday’s low of 458. The stock can be bought with 3 month perspective and can give 10-15% upside from these levels.

TCS(1118):- Supp 1108 Buy with SL of 1098 for target of 1135/1155

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://rishtrader.blogspot.com/

DAILY REPORT NOVEMBER 20TH MONDAY

NIFTY: - Open 3877 High 3892 Low 3835 Close 3853

Supp 3825/3805/3770 Res 3885/3918/3940

20 EMA 3787, 50 EMA 3656, 100 EMA 3505

P/E 20.65 P/B 4.95Adv 14 Dec 36 Vol Rs 8720 Crs

SENSEX: - Open 13678 High 13678 Low 13380 Close 13429

Supp 13380/13300/13230 Res 13510/13590/13680

WHAT HAPPENED ON FRIDAY:-

Markets opened flattish, but saw good selling in mid-hours. In spite of that, we regained some lost ground around late hours and closed 25 points down on Nifty. Oil stocks such as HPCL, BPCL rose more than 4% each. HDFC rose 3%. Approval to Indo-US nuclear deal infused good buying in NTPC.

WHAT SHALL WE WITNESS ON MONDAY:-

Today is a crucial day for the markets. If we do not close below 3825 today, we will see a strong rally in coming days. If we do close below 3825 today, we will have good correction until 3670 at least. Outlook remains bullish until we close below the aforesaid levels.

WHERE’S THE MONEY:-

IOB (117.20) :- The stock looks good for from short term perspective. Supp is at 114 and 109. One should buy around those supports with Stop Loss below 104 and target in the vicinity of 140.

GDL (166):- Buy with SL of 162 for target of 172/178

NALCO (220) :- Buy for medium term for target of around 280. Short term players should keep SL around 212.

SAIL (84.85):- Buy with SL 83 for target of 86.50/88.

TCS(1095) :- The stock should be bought with SL 1075 and target 1125 and 1150.

Wockhardt(403) :- Buy with SL of 397 for target of 408/413

Dr Reddy (736) :- Buy for 6-8 month perspective with target around 900. Short term players may buy around 720 with SL below 700. Long term players can accumulate at these levels also.

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.

NEWS LETTER 16TH NOV

Nifty (3876):- Supp 3865/3850/3825 Res 3890/3905/3920 Above 3890 we should see 3920 in short term. On the downside 3825 is a very important support level. Any closing below that should be regarded as a start to a healthy correction upto 3740/3675.

P/E 20.78 P/B 4.98 Adv 27 Dec 23 Turnover Rs 8768.6

Sensex (13469):- Supp 13390/13340/13290 Res 13500/13570/13635

What happened yesterday :-

Market opened strongly went down a bit but again stayed in the green for most of the day. Yesterday’s small rally of 45 points in sensex was marked by Bank stocks. SBI, PNB, ICICIBank witnessed strong rally.But reliance kept the market from achieving great heights as it fell almost Rs 16.

What shall we witness on Thursday :-

US Dow Jones once again closed in All Time Highs. Asian Markets are trading up. Our markets are expected to open flat. Nifty has not been able to breach 3885-3890 region from last 2 days. We will see if it does that today. If it crosses 3890, intraday we can see move upto 3905 and 3920.

Where is the money :-

Reliance looks weak technically. CMP 1263. Go short around 1270 with SL 1281 and target 1252/1240/1227

BEML (1005):- The stock is nearing its trendline support around 970. Buy around that support for target of 1030-1040. Keep strict Stop Losses in your intraday trades.

Tanmay Gopal
tanmaygopal@yahoo.co.in

Daily Report November 14th Tuesday

Nifty (3858) SUPPORT-3840-3816-3791 RESISTANCE-3874-3891-3915 Nifty range 3840-3891, now 3840 levels will become a major support on lower side, SL-3833 for long traders Intraday & weekly. (SL-3782 for target 4200 by Jan)
P/E=20.66 p/b=4.95 adv=35 dec=15 NSE adv: 552 dec: 391 -vol-rs.6744crs

Sensex (13399) SUPPORT-13345-13280-13208 RESISTANCE-13484-13564-13647 Sensex now has to trade above 13345 and target for this move should be 13647 in a day or 2. Sensex is moving in a orderly direction and no Gaps-Up seen and incase markets opens with a gap then it would lack intraday movement.
8dma=13182 13dma=13083 21dma=12965 34dma=12733 55dma=12405 OPEN=13295 HIGH=13410 LOW=13287 BSE adv: 1474 dec: 1080 -vol-rs.3942crs
Fiis Buyer rs.478 crs & Mutual funds buyer rs.129crs on Friday, Fiis buyer rs.2816crs in Nov month and buyer rs.33643Crs in 2006, mutual fund rs.417crs in Nov month. F&O DATA Fiis sell rs.71crs in nifty future and sell rs.88 crs in stock future on 13th November and provisional Fiis buy in cash rs.445crs source NSE website

Day That Ended: Market opened positive and moved higher to close at highest levels ever it was a day were markets didn’t see negative, markets volumes in Nse cash has droped lowest in this month while Advances where more than Decline. International markets U.S markets closed positive Indian ADRs where major gainers EURO markets also positive ASIAN markets open with very positive bias Nikkei up 1.71% Crude $58.75.

Outlook for Tuesday: Markets to open very positive and the most important would be stocks which move higher (All time high) always gives better gains in short term for traders. TECH+MEDIA should be the buzz word of the markets, investor should remember to take profits where his targets are reached or crossed few stocks in construction sectors have given faster gains. Metals stock saw a correction due to fall in LME prices in Alumina, Zinc & Nalco has gaped down so below 212 we can see panic but a investor with 5-6months can accumulate slowly.


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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://news.monstersandcritics.com/india/article_1221286.php/China_no_threat_to_Indian_textiles_expert Textile
http://www.businessstandard.com/common/storypage_c.php?leftnm=10&bKeyFlag=BO&autono=264674&chkFlg F&O position up at Rs 51,146 cr

national aluminium

NALCO: rs.220 target rs.280 Upside potential rs.60 which is 27% the stock has formed cup with a handle and 100DMA is rs.212 which is the support for now 200DMA rs.243 which has been strong resistance with Nalco reporting results which is above market expecation and price hike by nalco and steady prices of alumnia would benefit the stock in meduim term

Daily Report November 13th Monday

Each slide in the markets ensures that weaker / pessimistic investors leave the market and only the optimists remain behind

Nifty (3834) SUPPORT-3775-3752-3729 RESISTANCE-3852-3874-3896 Nifty range 3815-3874, intraday Buy near 3815-3820 with a SL-3803 target 3870 & 3890. Nifty after correcting 103points from the peak has regained all losses so if we see new high marked then my target for the week is 3940-3960 & with 3803 as SL. ( 3777 would be the SL for short term traders for a target of 4200 by Jan)
P/E=20.53 p/b=4.92 adv=36 dec=14 NSE adv: 470 dec: 474 -vol-rs.8232crs

Sensex (13282) SUPPORT-13225-13148-13034 RESISTANCE-13379-13441-13564 Sensex should stay above 13225 is bullish and higher levels can be reached. The coming would be very crucial for markets and any close above 13441 would change whole market scenario.
8dma=13136 13dma=13023 21dma=12924 34dma=12699 55dma=12371 OPEN=13187 HIGH=13303 LOW=13104 BSE adv: 1270 dec: 1219 -vol-rs.4567crs
Fiis Buyer rs.526 crs & Mutual funds seller rs.71crs on Thursday, Fiis buyer rs.2337crs in Nov month and buyer rs.33164Crs in 2006, mutual fund rs.371crs in Nov month. F&O DATA Fiis buy rs.595crs in nifty future and sell rs.149 crs in stock future on 10th November and provisional Fiis buy in cash rs.121crs source NSE website

Day That Ended: Market opened flat and as the day progressed rained in gains and closed at the highest level ever & marking marginal new high in both indexes. Weekly basis AUTO stocks where the major loser with BAJAJAUTO-MARUTI-HEROHONDA while GUJAMBCEMENT was the major gainer of the week. India's industrial production grew a faster-than-expected 11.4 percent in September, sustaining the fastest streak in a decade, adding to evidence that interest rates may rise. International markets U.S markets closed positive with Indian ADRs mixed with more of positive signs TATAMOTORS gained 4%, EURO markets ASIAN markets and other international markets all closed weak only. Democrat’s victory is pulling Pharma company stocks in U.S & Europe down on Friday 1.9% health care Index was down in Europe. Crude $59.59

Outlook for Monday: Markets to open positive and Cement-Pharma & Auto sector along with Textile would perform. Pharma added 6% in O.I & Private Banks 5% in O.I and with many MNC Pharma companies world over fear the changes in Pharma policy in U.S after Democrats victory, which would benefit Indian Pharma company which is a low cost destination. Chinese premier visit and Indian PM Visit to Japan are 2major events which can bring long term growth to India if properly handled and Japan FDI is not in a big way after Pokhran. TATACHEM & RAYMOND would be good value buy for 6-8months time frame.

Intra Day:
ACC: Buy: rs.1008-1012 SL-998 target T1-1028 T2-1045
Weekly Buy:
NDTV: Buy: rs.235-240 SL-229 target T1-260 T2-284

http://prabhakar-views.blogspot.com STOCK Outlook: TATAMOTORS news of launching small size engine cars to take 8% excise duty benefit will give better margins & stock faces resistance at rs.844 above which rs.900 would be possible in 1-2months. ABANLYOD if this stock fails to cross above 1194 then there is a very high possibility of the stock correcting heavily 8-10% soon. RAYMOND the Value buy: 50-50 joint venture with Italian fashion company Grotto to launch the Italian fashion brand, GAS, planning to expand its retail presence in the country by opening 30 exclusive flagship stores, Raymond is also planning to increase its portfolio for women’s wear brands to become multi product company. 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.

http://business-standard.com/common/storypage_c.php?leftnm=10&autono=264344 India, Japan to negotiate economic agreement
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=264387 Tata Motors is giving its Indica a smaller 1,200cc petrol engine, which is set to be launched next week. Tata Motors took this step to get the benefit of a reduction in excise duty from 24 per cent to 16 per cent for small cars
http://www.bloomberg.com/apps/news?pid=20601091&sid=alwoAZbPH0HU&refer=india India's Production Growth Sustains Decade's best Pace
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=264487 Grasim, Orissa sign MoU for Rs 1200cr cement unit
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=264488 Raymond, Italian firm form joint venture
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=264489 Raymond to expand retail presence
http://www.ndtvprofit.com/homepage/storybusiness.asp?id=34609&template RBI tightens lending rules for banks

Daily Report November 10th Friday

Nifty (3796) SUPPORT-3775-3752-3729 RESISTANCE-3814-3841-3874 Nifty range 3775-3814 and 2days high marked is 3809 so short would cover only if markets can trade above that levels comfortable. Pivotal point of markets will be 3787 above which markets would touch 3814 breaking that we can possibly close near 3844. TOP 5GAINERS=M&M-VSNL-RCOM-SATYAMCOMP-ORIENTBANK TOP5LOSER=HINDALCO-MARUTI-GRASIM-BPCL-SAIL. P/E=20.32 p/b=4.87 adv=30 dec=20 NSE adv: 547 dec: 384 -vol-rs.7837crs

Sensex (13137) SUPPORT-13058-12971-12894 RESISTANCE-13214-13308-13375 Sensex now has a major resistance at 13214 and any move above that can target a new high, but on the lower side 13058 is very crucial as markets traded in a very narrow range and didn’t any clear trend so 9th Nov High & Low can be a make or break levels for sensex.
8dma=13096 13dma=12981 21dma=12880 34dma=12669 55dma=12337 OPEN=13107 HIGH=13192 LOW=13069 BSE adv: 1478 dec: 1020 -vol-rs.4235crs
Fiis seller rs.6 crs & Mutual funds seller rs.274crs on Wednesday, Fiis buyer rs.1811crs in Nov month and buyer rs.32638Crs in 2006, mutual fund rs.442crs in Nov month. F&O DATA Fiis buy rs.528crs in nifty future and sell rs.65 crs in stock future on 9th November and provisional Fiis buy in cash rs.332crs source NSE website

Day That Ended: Markets opened Positive and stayed higher and closed with gains the news of George Soros coming to India in Dec to invest here in big way and Positive Global markets cues possible reasons. News of Nissan changing partners from Maruti to M&M made Maruti stock to drift down while M&M was biggest gainer in Nifty the news of Govt to disinvest balance stake in Maruti gave a breather. Pharma Minister statement as reported by FE of drug companies cheating him and warning of severe action was not in good taste no business would like to lose his profits and when companies makes loss Govt is not going to compensate only competition can bring down prices. International market U.S markets ended in loss while Indian ADRs gained EURO markets mixed with marginal losses ASIAN markets opened weak Crude $61.16.

Outlook for Friday: Markets to have positive open 4wheeler auto stocks & Cement stocks can give some positive surprise. Pharma stocks can be good buy in dips as some initial selling can happen that would be good chance for investor looking at longer duration to accumulate DRREDDY-WOCKHARDT-RANBAXY would be my picks buy only in panic.

F&O Data: Nifty added 4% O.I & PCR at 1.41 from 1.46 and calls where added more. Volumes surprise (higher) M&M- 357% MPHASISBFL-234% MARUTI-170% IDFC-281% CESC-113%. O.I added stock and sector wise MARUTI saw highest O.I added 30% and 4Wheeler Auto adding 3%, Metals added 3% and HINDALCO added 7% while stocks like GRASIM +10% ,INDUSINDBANK+11%, CIPLA +6% , SUNTV+23%, BHEL+9%, IDFC+15% Added O.I while Stocks like RELIANCE – 3%, GAIL-5%, PATNI -12%, CUMMINS-6% shed O.I.

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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.financialexpress.com/fe_full_story.php?content_id=146041 Pharma cos cheated me: Paswan
http://www.financialexpress.com/latest_full_story.php?content_id=146076 India must maintain edge in outsourcing: Fernandes
http://www.businessstandard.com/common/storypage_c_online.php?leftnm=11&bKeyFlag=IN&autono=17370 ITC has unveiled an investment plan of around Rs 1,200 crore to expand its existing hotel and cigarette business in West Bengal
http://www.thehindubusinessline.com/blnus/00091706.htm Bill Gates cautions Russia against competing with India
http://www.thehindubusinessline.com/blnus/14091507.htm Tata Steel may enter Fortune 500 list
http://www.thehindubusinessline.com/2006/11/10/stories/2006111004640300.htm TVS Motor to come back with new products in bike segment

Daily Report November 9th Thursday

Nifty (3777) SUPPORT-3750-3729-3708 RESISTANCE-3798-3824-3856 Nifty above 3777 is bullish below which 3750 would give support on the higher side markets has to trade above 3798 which is the most important. Any correction till 100-150 points from the peak is always good but as said before SL-3729 on closing basis for short term investor, ( Target of 4200 level by Jan is still Maintained). TOP 5GAINERS=SUZLON-SBIN-ICICIBANK-INFOSYSTCH-GAIL TOP5LOSER=HEROHONDA-BPCL-BAJAJAUTO-JETAIRWAYS-RELIANCE. P/E=20.22 p/b=4.88 adv=13 dec=37 NSE adv: 211 dec: 734 -vol-rs.8572crs

Sensex (13072) SUPPORT-13089-13002-12915 RESISTANCE-13137-13264-13375 Sensex has corrected from 13300-12950 and now if we trade above 13124-13137 for a considerable time, correction in markets can be considered as over and fresh up move would start, in case we don’t trade above 13124-13137 levels & breaks 12950 then 12670 which is the previous high is where markets would take support.
8dma=13082 13dma=12948 21dma=12843 34dma=12639 55dma=12307 OPEN=13176 HIGH=13202 LOW=12950 BSE adv: 840 dec: 1702 -vol-rs.4339crs
Fiis buyer rs.335 crs & Mutual funds seller rs.14crs on Tuesday, Fiis buyer rs.1817crs in Nov month and buyer rs.32644Crs in 2006, mutual fund rs.717crs in Nov month. F&O DATA Fiis sell rs.470crs in nifty future and sell rs.303 crs in stock future on 8th November and provisional Fiis sell in cash rs.56crs source NSE website

Day That Ended: Markets opened with a corrective mood in line with Asian markets & final hour had a good pullback to recover more than 64% from the days low decline 3.5 to 1 advance in NSE & 2:1 in BSE with volumes being more than average. In sectoral index BANKS & IT were the positive while OIL&GAS-AUTO-METALS-FMCG corrected. International markets U.S markets closed positive with Indian ADRs closed positive, other American markets gained considerably, EURO markets closed flat and ASIAN markets has opened on a very positive note Crude $59.95.

Outlook for Thursday: Markets to open positive as uncertain event is behind and yesterday low is very crucial till that level is not broken markets would attempt to move higher and in 1-3days new highs can be marked. Sugar sector looks to have more news and the sectors seems to have almost bottomed out a investor should pick just few good long term bets SREE RENUKASUGAR-EIDPARRY would be my picks.


http://prabhakar-views.blogspot.com Value Buy: Glaxo
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.

http://www.financialexpress.com/latest_full_story.php?content_id=145883 TCS buys Australian consulting company
http://www.financialexpress.com/latest_full_story.php?content_id=145882 India to introduce 10% ethanol blended petrol
http://www.businessstandard.com/common/storypage_c_online.php?leftnm=11&bKeyFlag=IN&autono=17325 Reliance bids for BP plant in Belgium
http://www.financialexpress.com/latest_full_story.php?content_id=145881 SEBI, RBI asked to prepare -ve list
http://www.financialexpress.com/fe_full_story.php?content_id=145956 George Soros to visit Delhi in Dec, unveil India plans
http://economictimes.indiatimes.com/articleshowcnews/373454.cms Wipro launches service for US Health Plans mkt
http://economictimes.indiatimes.com/articleshow/375037.cms US vote not to nuke India deal
http://www.financialexpress.com/fe_full_story.php?content_id=145958 Big Corus shareholders cash out
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=264234 Karwal quits Reliance Retail
http://www.business-standard.com/common/storypage.php?autono=264214&leftnm=3&subLeft=0&chkFlg Decision on lifting sugar export ban in 2 weeks

Daily Report November 8th Wednesday

Nifty (3798) SUPPORT-3776-3752-3729 RESISTANCE-3826-3852-3884 Nifty range 3776-3852 now we have had one day correction and support is taken near 3789 we can have some more panic till 3776 before a major up move but 3798 would be very crucial, after 2hours of market if we stay above 3798 then it would be a major bullish day in my view. And SL-3729 on closing basis for long. TOP 5GAINERS=SUZLON-M&M-HDFC-DRREDDY-GUJAMBCEM TOP5LOSER =HINDPETRO-ZEETELE-BPCL-BAJAJAUTO-HEROHONDA. P/E=20.37 p/b=4.84 adv=19 dec=31 NSE adv: 385 dec: 558 -vol-rs.9066crs

Sensex (13156) SUPPORT-13089-13002-12915 RESISTANCE-13288-13354-13441 Sensex still maintaining its new high every day and with FIIs & MF being buyer in markets any correction would be deep but short duration and bounce back also will be equally fast and when the new high is not able to be marked for a day or two only this can happen.

8dma=13061 13dma=12921 21dma=12810 34dma=12606 55dma=12279 OPEN=13208 HIGH=13300 LOW=13135 BSE adv: 1134 dec: 1387 -vol-rs.4737crs

Fiis buyer rs.422 crs & Mutual funds buyer rs.164crs on Monday, Fiis buyer rs.1481crs in Nov month and buyer rs.32308Crs in 2006, mutual fund rs.732crs in Nov month. F&O DATA Fiis sell rs.182crs in nifty future and buy rs.418 crs in stock future on 7th November and provisional Fiis buy in cash rs.316crs source NSE website

Day That Ended : Market opened on a positive note based on positive global markets and heavy long intraday position square off and panic sale towards the close ended markets in negative & possible interest rate hike by BOJ-Bank of Japan and election in U.S also had its effect in Indian markets. FM promises more tax cuts, reforms Ahead of the budget exercise starting Wednesday. Infosys $1.5 bn ADS to put it in Nasdaq-100 for which it secured shareholders' approval on Tuesday, ONGC and the Hinduja group Tuesday ventures to pursue global opportunities in LNG and linked exploration business. International markets U.S ended positive while Indian ADRs where mixed with negative biased EURO markets positive close Asian markets in negative note Crude $ 59.22.

Outlook for Tuesday: Markets to open flat to negative and as the day progress should make considerable gains, OIL marketing companies should see some gains as Govt would like to delay the price cut in fuel till crude falls more. Few stocks has strong news flows which can have a possible upside TATAMOTOR-INFOSYS-ONGC-RIL-NTPC & IPCL would also see some gains as demand picks up. Budget expectation would start and last budget leftovers like duty cuts on cars & many more things would start to do round.

F&O Watch: Bank nifty has seen 8% fall in OI, Nifty fut has added 1% in OI in sector wise breakup Cement-7% fall-Capital goods-4% fall in OI. Nifty PCR ratio is slowly coming down from 1.50 few days before to 1.46 but it is still a major indicator that majority in the street are bearish.

Positive stock: ALOKTEX-HINDALCO-ORCHIDCHEM-BPCL-TATACHEM-HPCL-MARUTI


http://prabhakar-views.blogspot.com

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.

http://business-standard.com/common/storypage_c.php?leftnm=10&bKeyFlag=IN&autono=17239 FM promises more tax cuts, reforms

http://www.ndtvprofit.com/homepage/storybusiness.asp?id=34542&template Infosys to be listed in Nasdaq-100

http://economictimes.indiatimes.com/articleshow/361194.cms Financial regulators are compiling a list of tax havens to make it impossible for financial entities to get the coveted FII status in India

http://www.businessstandard.com/common/storypage.php?autono=264083&leftnm=3&subLeft=0&chkFlg Drug price cut a let down: Paswan

http://www.financialexpress.com/fe_full_story.php?content_id=145812 Reliance to link KG, Orissa gas sources

http://www.financialexpress.com/fe_full_story.php?content_id=145830 Asian naphtha price slump likely to end

http://www.financialexpress.com/fe_full_story.php?content_id=145801 NTPC may seal 3 mtpa gas pact with Nigeria

Daily Report November 8th Wednesday

Nifty (3798) SUPPORT-3776-3752-3729 RESISTANCE-3826-3852-3884 Nifty range 3776-3852 now we have had one day correction and support is taken near 3789 we can have some more panic till 3776 before a major up move but 3798 would be very crucial, after 2hours of market if we stay above 3798 then it would be a major bullish day in my view. And SL-3729 on closing basis for long. TOP 5GAINERS=SUZLON-M&M-HDFC-DRREDDY-GUJAMBCEM TOP5LOSER =HINDPETRO-ZEETELE-BPCL-BAJAJAUTO-HEROHONDA. P/E=20.37 p/b=4.84 adv=19 dec=31 NSE adv: 385 dec: 558 -vol-rs.9066crs

Sensex (13156) SUPPORT-13089-13002-12915 RESISTANCE-13288-13354-13441 Sensex still maintaining its new high every day and with FIIs & MF being buyer in markets any correction would be deep but short duration and bounce back also will be equally fast and when the new high is not able to be marked for a day or two only this can happen.

8dma=13061 13dma=12921 21dma=12810 34dma=12606 55dma=12279 OPEN=13208 HIGH=13300 LOW=13135 BSE adv: 1134 dec: 1387 -vol-rs.4737crs

Fiis buyer rs.422 crs & Mutual funds buyer rs.164crs on Monday, Fiis buyer rs.1481crs in Nov month and buyer rs.32308Crs in 2006, mutual fund rs.732crs in Nov month. F&O DATA Fiis sell rs.182crs in nifty future and buy rs.418 crs in stock future on 7th November and provisional Fiis buy in cash rs.316crs source NSE website

Day That Ended : Market opened on a positive note based on positive global markets and heavy long intraday position square off and panic sale towards the close ended markets in negative & possible interest rate hike by BOJ-Bank of Japan and election in U.S also had its effect in Indian markets. FM promises more tax cuts, reforms Ahead of the budget exercise starting Wednesday. Infosys $1.5 bn ADS to put it in Nasdaq-100 for which it secured shareholders' approval on Tuesday, ONGC and the Hinduja group Tuesday ventures to pursue global opportunities in LNG and linked exploration business. International markets U.S ended positive while Indian ADRs where mixed with negative biased EURO markets positive close Asian markets in negative note Crude $ 59.22.

Outlook for Tuesday: Markets to open flat to negative and as the day progress should make considerable gains, OIL marketing companies should see some gains as Govt would like to delay the price cut in fuel till crude falls more. Few stocks has strong news flows which can have a possible upside TATAMOTOR-INFOSYS-ONGC-RIL-NTPC & IPCL would also see some gains as demand picks up. Budget expectation would start and last budget leftovers like duty cuts on cars & many more things would start to do round.

F&O Watch: Bank nifty has seen 8% fall in OI, Nifty fut has added 1% in OI in sector wise breakup Cement-7% fall-Capital goods-4% fall in OI. Nifty PCR ratio is slowly coming down from 1.50 few days before to 1.46 but it is still a major indicator that majority in the street are bearish.

Positive stock: ALOKTEX-HINDALCO-ORCHIDCHEM-BPCL-TATACHEM-HPCL-MARUTI


http://prabhakar-views.blogspot.com

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.

http://business-standard.com/common/storypage_c.php?leftnm=10&bKeyFlag=IN&autono=17239 FM promises more tax cuts, reforms

http://www.ndtvprofit.com/homepage/storybusiness.asp?id=34542&template Infosys to be listed in Nasdaq-100

http://economictimes.indiatimes.com/articleshow/361194.cms Financial regulators are compiling a list of tax havens to make it impossible for financial entities to get the coveted FII status in India

http://www.businessstandard.com/common/storypage.php?autono=264083&leftnm=3&subLeft=0&chkFlg Drug price cut a let down: Paswan

http://www.financialexpress.com/fe_full_story.php?content_id=145812 Reliance to link KG, Orissa gas sources

http://www.financialexpress.com/fe_full_story.php?content_id=145830 Asian naphtha price slump likely to end

http://www.financialexpress.com/fe_full_story.php?content_id=145801 NTPC may seal 3 mtpa gas pact with Nigeria

TATA MOTORS

TATAMOTORS: rs.816 is the close and at rs.808-809 it has marked a double bottom & the stock has tradinally faced resistance at rs.800 levels and that would be a strong support now but weekly traders can have a SL-805 and Buy around rs.812-817 for a target of rs.845-855 which has a good risk to reward ratio.
http://in.groups.yahoo.com/group/prabhakar-views/join

Daily Report November 7th Tuesday

Nifty (3809) SUPPORT-3787-3765-3733 RESISTANCE-3827-3848-3870 Nifty range 3801-3848 breaking 3801 only we can have an intraday correction were strong support would come at 3787-3765 & possible one day correction where one can add in panic towards the close. TOP 5GAINERS=GLAXO-HINDLEVER-GUJAMBCEM-ZEETELE-HDFC TOP5LOSER=-HINDPETRO-ORIENTBANK-BPCL-MARUTI-ONGC. P/E=20.39 p/b=4.92 adv=22 dec=28 NSE adv: 498 dec: 437 -vol-rs.7752crs

Sensex (13186) SUPPORT-13104-13037-12952 RESISTANCE-13276-13352-13441 Sensex is moving up and new high is maintained, and sensex seems to head towards 13441 and above before we can think about any short term correction.
8dma=13004 13dma=12898 21dma=12772 34dma=12574 55dma=12248 OPEN=13155 HIGH=13206 LOW=13111 BSE adv: 1415 dec: 1131 -vol-rs.4264crs
Fiis buyer rs.227 crs & Mutual funds buyer rs.77crs on Friday, Fiis buyer rs.1058crs in Nov month and buyer rs.31855Crs in 2006, mutual fund rs.568crs Updated in Nov month. F&O DATA Fiis sell rs.30crs in nifty future and buy rs.36 crs in stock future on 6th November and provisional Fiis buy in cash rs.221crs source NSE website

Day That Ended: Markets opened higher and was in a very narrow range and news of Govt considering cut in fuel prices made people book profits in Oil PSU stocks while FMCG & METALS where the sectoral index gainers. And views expressed by PSU bankers with FM feel commercial real estates and personal loans will cost more and pressure on NIM-net interest margin is there as credit growth is at 30% which is not supported by deposit growth which is at 20% & FM also stressed the need to increase the deposit growth. International markets U.S markets had a very positive day with DJIA+1% NASDAQ+1.51% Indian ADRs closed positive EURO markets & other American markets were also very positive ASIAN markets has opened on a positive note Crude $ 60.15.

Outlook for Tuesday: Positive open with all global markets very positive TECH major would should good positive day PHARMA & BANKS should see some profit booking at higher levels. METALS are looking good and with TATASTEEL & CORUS deal likely to go through which is indicated by the management now after media has reported should see some sustained upmove. LOGISTICS sector would be major beneficiary if fuel prices are cut as they were not able to pass on the full fuel price hike when last done GDL-AEGIS-GATI would be few good picks in that sector.

Intraday trading idea:
GDL: Buy rs.173 Target rs.182-185 SL-rs.171 (if SL is not hit can extend duration)
GATI: Buy rs.91 target rs.96-97.5 SL-rs.89.50


WEEKLY stock: http://prabhakar-views.blogspot.com TATAMOTORS: rs.816 is the close and at rs.808-809 it has marked a double bottom & the stock has tradinally faced resistance at rs.800 levels and that would be a strong support now but weekly traders can have a SL-805 and Buy around rs.812-817 for a target of rs.845-855 which has a good risk to reward ratio.
http://in.groups.yahoo.com/group/prabhakar-views/join

Counter View: Labour Union & communist Policy
It is important to take a perspective of the Left Parties in India.
The main strength of left parties is their support for the workers and labor of India. However one must understand whether this is still relevant today as it was when the trade unions were first started.

Trade or Labour unions was started in London, UK, in an age when workers where uneducated and exploited by employers. These workers were paid extremely low wages and were overworked. Lacks of education, overbearing employers were factors that make unions necessary. Today, with improved education standards and access to information resources, labor unions are losing their significance.
Further, the world has accepted capitalism and thus the Hire & Fire policy. However, standards have improved at work and culture. If one looks deep at the attrition rate these days, it is mainly due to job switching by employees rather than retrenchment and VRS. Salaries are fixed after negotiation and minimum wage laws ensure that a set standard is maintained at the bottom.

Recently, there was a statement by the Left parties to stop incentives to higher-ranking officials of Oil PSUs along with a demand for trade unions for BPO workers. However, I feel this would have far-reaching negative effects and the statement by the Left was made without thinking. In today's competitive environment if a Govt PSU is not going to pay higher it would face exodus of employees and in BPO sector already non-voice jobs are starting to flow to Philippines. When a communist country like China can have a flexible labour policy, it is amazing that political bosses who have failed to create enough jobs themselves would want to make statement. If the Left cannot do good then it should refrain from destabilizing any good that is happening without its intervention.

Now we have to read a small story http://www.online-literature.com/orwell/animalfarm/ this story of George Orwell Animal Farm (1945) - satirical allegory of the Russian Revolution, particularly directed against Stalin's Russia. After you read this, you will understand why Communist Russia failed, whereas China, another Communist nation, was fast in changing its strategy and growing with great vision.

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.ndtvprofit.com/homepage/storybusiness.asp?id=34503&template commercial real estates and personal loans might cost more in the near future.

http://www.ndtvprofit.com/homepage/storybusiness.asp?id=34500&template Govt considering cut in fuel prices: Deora
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=263773 Tata Steel
http://business-standard.com/common/storypage_c.php?leftnm=10&bKeyFlag=IN&autono=17192 FM wants banks to beef up deposits
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=263958
http://news.monstersandcritics.com/india/article_1218920.php/Corus_deal_to_be_completed_by_January_Tata_Steel Tata Steel Monday said it had received 'positive' feedback from the shareholders of Anglo-Dutch steel manufacturer Corus Steel

Deora says the retail selling prices of LPG would have to be raised by Rs 150 per cylinder and PDS kerosene by Rs 14 per liter to bring them at par with cost of production.

Labour Union & communist Policy

It is important to take a perspective of the Left Parties in India.

The main strength of left parties is their support for the workers and labor of India. However one must understand whether this is still relevant today as it was when the trade unions were first started.

Trade or Labour unions was started in London, UK, in an age when workers where uneducated and exploited by employers. These workers were paid extremely low wages and were overworked.
Lack of education, overbearing employers were factors that make unions necessary. Today, with improved education standards and access to information resources, labor unions are losing their significance.

Further, the world has accepted capitalism and thus the Hire & Fire policy. However, standards have improved at work and culture. If one looks deep at the attrition rate these days, it is mainly due to job switching by employees rather than retrenchment and VRS. Salaries are fixed after negotiation and minimum wage laws ensure that a set standard is maintained at the bottom.

Recently, there was a statement by the Left parties to stop incentives to higher-ranking officials of Oil PSUs along with a demand for trade unions for BPO workers. However, I feel this would have far-reaching negative effects and the statement by the Left was made without thinking.

In today's competitive environment if a Govt PSU is not going to pay higher it would face exodus of employees and in BPO sector already non-voice jobs are starting to flow to Indonesia. When a communist country like China can have a flexible labour policy, it is amazing that political bosses who have failed to create enough jobs themselves would want to make statement.

If the Left cannot do good then it should refrain from destabilizing any good that is happening without its intervention.

Now we have to read a small story http://www.online-literature.com/orwell/animalfarm/ this story of George Orwell Animal Farm (1945) - satirical allegory of the Russian Revolution, particularly directed against Stalin's Russia. After you read this, you will understand why Communist Russia failed, whereas China, another Communist nation, was fast in changing its strategy and growing with great vision.

CESC & NDTV

Day Trading calls:
CESC: Buy rs.330-331 target rs.343-346 SL-327 close-334
NDTV: Buy rs.232-234 target rs.244-248 SL-rs.229 close-235
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Daily Report November 6th Monday

Nifty (3805) SUPPORT-3783-3756-3719 RESISTANCE-3824-3848-3872 Nifty range 3783-3839 this markets will be slowly moving up with in a range higher opening it would correct & create panic to move close up, lower opening markets will accumulate and move up, so only when the range break and supports are broken on a big way only one should worry about market correction. SL-3708 Closing basis 3679 intraday basis for now. TOP 5GAINERS=REL-JETAIRWAYS-ONGC-GUJAMBCEM-DRREDDY TOP5LOSER=HCLTECH-DABUR-ORIENTBANK-TATAMOTORS-GLAXO. P/E=20.37 p/b=4.92 adv=21 dec=29 NSE adv: 375 dec: 549 -vol-rs.7363crs

Sensex (13130) SUPPORT-13039-12962-12881 RESISTANCE-13185-13275-13364
Sensex for the 2 days has traded above 13000 so that level would become strong support and we should look at higher levels. Any major correction in the markets will give enough indication and I don’t see any major correction now 5-8% is a normal bull market correction which last 3-5-8 days.
8dma=12933 13dma=12875 21dma=12734 34dma=12540 55dma=12217 OPEN=13119 HIGH=13146 LOW=13017 BSE adv: 1116 dec: 1408 -vol-rs.4034crs
Fiis buyer rs.139 crs & Mutual funds buyer rs.146crs on Thursday, Fiis buyer rs.891crs in Nov month and buyer rs.31658Crs in 2006, mutual fund buyer rs.490crs in Nov month. F&O DATA Fiis sell rs.11crs in nifty future and sell rs.57crs in stock future on 3rd November and provisional Fiis buy in cash rs.41crs source NSE website

Day That Ended: Markets was subdued in the entire day of trade and gained in the later part of the day but breath of the markets was negative as declines outnumber advances and there was last minute buying in TECH & CEMENT stocks. RBI, FM speak one voice on overheating of the economy and RBI as per indication would tighten retail loans & consumer credit by other means & ways, ET also reported policy shift which can likely shut down NBFC avenue for banks which many foreign banks use as a bypass for Branch licensing norms & Lend via NBFC. Inflation at 4month high & now many political voices are heard about oil price cut and Govt should think inline of hike in kerosene & Lpg and reasonable cut in Petrol & Diesel as for a common man effect is the same and this undue pricing benefits smuggling & adulteration people only. International markets U.S markets closed lower even after good job data Indian ADRs mixed EURO markets & other world markets closed mostly in positive CRUDE $59.14.

Outlook for Monday: Market to open positive Paper companies have hiked prices and the statement made by a company management says pricing power is high and it is here to stay which would benefit the stocks in that sector BILT-TNPL would be my best pick. BAYERCROP listed in BSE has seen a huge volume rise one can buy the stock in dips at rs.196-202 for 15-20% rise in coming month.

F&O watch: ACC-ALOKTEX-CESC-REL-BILT-BHEL-MAHSEAMLESS-NICOLASPIRMAL-RPL-STAR-TATAPOWER-INDIACEMENT (these stocks has shown unusual rise in volumes in Stock fut and looks bullish also in graph)

http://prabhakar-views.blogspot.com
Day Trading calls:
CESC: Buy rs.330-331 target rs.343-346 SL-327 close-334
NDTV: Buy rs.232-234 target rs.244-248 SL-rs.229 close-235
http://in.groups.yahoo.com/group/prabhakar-views/join

Counter View: IPOs flush- There are many IPOs which are lined up and in my personnel view many look very expensive and past 3years experience of IPOs has showed that only 2out of 10 IPOs are successful in rewarding shareholder and has given gains over a period of time, in 1980s-1990s we had a system where promoters where not allowed to charge premium for new business and existing business can charge premium fixed by controller of capital issues but the era of free pricing is just fleecing investor. And now we need a system where free pricing should have a basis to fix price as an investor who invest in new business should have a reward over period of time for the risk taken by him & lead managers & bankers like before should provide safety net. In my view there should be some norms which can make promoters answerable but in India never have seen a big politician or Big business person punished for wrong doing it is not they never commit crime it is that our legal system are not competent to deal with irregularities.

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://news.xinhuanet.com/english/2006-11/03/content_5287182.htm?rss=1 china Central bank decides to raise deposit reserve ratio by 0.5
http://www.ndtvprofit.com/homepage/storybusiness.asp?id=34471&template RBI, FM speak one voice on overheating
http://www.ndtvprofit.com/homepage/storybusiness.asp?id=34485&template Reliance to revive the Vimal brand
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=263748 FMCG sector logs 18% growth
http://www.financialexpress.com/fe_full_story.php?content_id=145517 No duty on 217 IT items soon
http://business-standard.com/common/storypage_c.php?leftnm=10&bKeyFlag=IN&autono=17163 Pharma industry opposes price controls
http://business-standard.com/common/storypage_c.php?leftnm=10&bKeyFlag=IN&autono=17157 S Kumars may buy US-based American Pacific
http://www.businessweek.com/globalbiz/content/oct2006/gb20061003_157876.htm?campaign_id=rss_as Innovation: Outsourcing's Second Wave
http://www.fool.com/news/commentary/2006/commentary06110403.htm DCF-Discounted cash flow analysis requires companies to show you the money -- literally.

RENUKA SUGARS

VALUE buy: http://prabhakar-views.blogspot.com RENUKA sugar: 601 is the close this stock from a low of rs.256 reached a high of rs.1657 & recently touched a low of rs.551 this stock is showing signs of bottoming out and it is very hard to predict the lowest price so long term investor who like sugar sector can enter this stock by slow accumlation ( sugar sector is weakest now will take more time to recover and this stock is one of the best in that sector)
http://in.groups.yahoo.com/group/prabhakar-views/join

Daily Report November 3rd Friday

Nifty (3791) SUPPORT-3772-3448-3705 RESISTANCE-3822-3848-3872 Nifty range 3772-3848 markets can have intraday correction till 3772 before an upmove 3763 would be very crucial for intraday traders Nifty has given a close above 3774 and closed at highest level. TOP 5GAINERS=ONGC-SIEMENS-MARUTI-ZEETELE-RELIANCE TOP5LOSER=VSNL-NATIONALUM-SATYAMCOMP-MTNL-DABUR. P/E=20.29 p/b=4.90 adv=28 dec=22 NSE adv: 441 dec: 490 -vol-rs.7363crs

Sensex (13091) SUPPORT-13004-12920-12844 RESISTANCE-13158-13267-13441 Sensex for the first time traded above 13000 and this has to happen for few more days & every day we have to see if new high in sensex is marked if that doesn’t happen 3-5 day correction can come.
8dma=12884 13dma=12859 21dma=12690 34dma=12506 55dma=12186 OPEN=13062 HIGH=13137 LOW=13014 BSE adv: 1224 dec: 1295 -vol-rs.3989crs
Fiis buyer rs.368 crs & Mutual funds buyer rs.311crs on Wednesday, Fiis buyer rs.692crs in Nov month and buyer rs.31519Crs in 2006, mutual fund buyer rs.311crs in Nov month. F&O DATA Fiis buy rs.243crs in nifty future and buy rs.24crs in stock future on 2nd November and provisional Fiis buy in cash rs.41crs source NSE website

Day That Ended: Markets opened flat and made strong gains hitting new all time high with help of OIL & GAS index ONGC gained after news, OVL may buy stake in Iran, Angola fields from Norsk Hydro & OVL may take stake in Sakhalin-III project. The European Central Bank kept its main interest rate at 3.25 per cent on Thursday as forecast, and signalled to markets it intended to raise rates again in December. International markets U.S almost closed flat Indian ADRs mixed with more gainers EURO markets closed in deep red ASIAN markets flat opening CRUDE $57.87.

Outlook for Friday: Markets to remain range bound in the opening before a clear trend weekend so up or down we will see big one, OIL marketing company is getting bigger benefit lower crude price-no price cut & strong rupee which has gained 4.7% against dollar from May & this would benefit Importers while Exporter who didn’t hedge would find the going tough, TECH companies are correcting on strong rupee but normally they hedge themselves well in advance. The most watched news in the world would be Chinese president Hu Jintao’s high-profile visit to India 2 giant economy and 2most populous countries and real good agreements go through it would benefit both countries in tandem as India has many times from independence failed to have a good relationship with all its neighbors and with new external minister will things change we should wait and watch.


VALUE buy: http://prabhakar-views.blogspot.com RENUKA sugar: 601 is the close this stock from a low of rs.256 reached a high of rs.1657 & recently touched a low of rs.551 this stock is showing signs of bottoming out and it is very hard to predict the lowest price so long term investor who like sugar sector can enter this stock by slow accumlation ( sugar sector is weakest now will take more time to recover and this stock is one of the best in that sector)
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.

http://business-standard.com/common/storypage_c.php?leftnm=10&bKeyFlag=IN&autono=17090 OVL may take stake in Sakhalin-III project
http://www.ft.com/cms/s/723802b0-69e3-11db-952e-0000779e2340.html World urged to build more N-plants
http://www.financialexpress.com/latest_full_story.php?content_id=145279 MFs become richer by Rs 20,000 cr in October
http://www.ndtvprofit.com/homepage/news.asp?id=274721 convertible rupee ended at 44.885/44.895 per dollar
http://economictimes.indiatimes.com/articleshow/299812.cms Govt to clear air on China FDI before Hu visit
http://economictimes.indiatimes.com/articleshow/299890.cms new hospitals, hotels, cold storage warehouses and multiplexes have suddenly become hard to come by with the Reserve Bank of India (RBI) classifying such advances as loans to ‘real estate’.
http://economictimes.indiatimes.com/articleshow/294584.cms Bombay Rayon Fashions Limted (BRFL), has recorded a 162 per cent jump in its PAT

HINDALCO

GAMMON INDIA

Gammon India: (405) the stock from a low of rs.358 targeted rs.409 in just 4trading days it would now face intraday resistance at rs.415 & short term resistance at rs.422 above which the stock can easily target its all time high rs.587 also this would be for investor looking at more than 6-8months of invesment period.

SENSEX IHS

Daily Report November 2nd Thursday

Nifty (3767) SUPPORT-3748-3422-3691 RESISTANCE-3798-3822-3850 Nifty range 3748-3822 but nifty staying above 3763 is most important for intraday players below which 3744-3748 levels can be possible, till markets holds above 3691 on a closing basis we would head higher levels, & till now we haven’t closed above 3774 which is also important for short term. TOP 5GAINERS=ZEETELE-RELIANCE-RCOM-VSNL-BHARTIATRL TOP5LOSER=HDFC-CIPLA-ONGC-HCLTECH-SATYAMCOMP. P/E=20.37 p/b=4.84 adv=31 dec=19 NSE adv: 476 dec: 449 -vol-rs.7754crs

Sensex (13033) SUPPORT-12932-12844-12720 RESISTANCE-13139-13228-13441 Sensex now should move above 13000 levels, till now sensex hasn’t traded fully above 13000 which should happen soon. Sensex has given a small inverse head & shoulder which can target 13441 or even higher levels where the support is 12900 breaking that would negate the IHS & we need a new high to sustain higher levels.
8dma=12836 13dma=12832 21dma=12656 34dma=12470 55dma=12154 OPEN=12992 HIGH=13050 LOW=12937 BSE adv: 1262 dec: 1254 -vol-rs.4108crs
Fiis buyer rs.323 crs & Mutual funds buyer rs.73crs on Tuesday, Fiis buyer rs.323crs in Nov month and buyer rs.31150Crs in 2006, mutual fund buyer rs.16crs in Oct month. F&O DATA Fiis buy rs.402crs in nifty future and buy rs.74crs in stock future on 1st November and provisional Fiis buy in cash rs.83crs source NSE website

Day That Ended: Market opened positive and made further gains after Reliance Industries announced it almost doubled its estimated gas reserves at D6 block in the Krishna-Godavari basin to 11.3 trillion cubic feet, from the earlier 6 trillion cubic feet, company has also more than doubled the estimated expenditure on bringing the gas onshore to $5.2 billion from an earlier estimate of $2 billion. The upmove was on lower volumes with positive advance: decline ratio, Auto numbers showed growth and Maruti surprised with MOM increase as SEP month sales is normally highest due to depreciation benefits & high sales in Oct than Sep shows the strength of the economy. International markets U.S Stocks Drop as Manufacturing Growth Slows & ended lower for 4th day, Indian ADRs corrected with U.S market trend EURO markets ended with gains while ASIAN markets has opened weak CRUDE $ 58.65.

Outlook for Thursday: Markets can have a flat opening & advance higher levels AUTO sales and CEMENT dispatch numbers are good with price hike in Mumbai region and NALCO has said it would raise Alumina prices & JSW Steel hikes galvanised steel prices by rs.1000 on higher input cost. PHARMA stocks corrected after new drug policy where prices of 886 drugs where cut this would effect jus few companies which generate higher revenue from Indian operation while many companies have increased there global markets presence with M&A so those companies wont be effected much. Hindalco joint venture with Almex USA Inc for the manufacture of high strength aluminium (HSA) alloys for applications in the aerospace, sporting goods and surface transport industries.

Intraday trading idea:
TATACHEM: (233) SL-229 Buy around rs.232 target rs.238-240
HINDALCO: (190) SL-188 target rs.196-199

BREAK out levels: http://prabhakar-views.blogspot.com Gammon India: (405) the stock from a low of rs.358 targeted rs.409 in just 4trading days it would now face intraday resistance at rs.415 & short term resistance at rs.422 above which the stock can easily target its all time high rs.587 also this would be for investor looking at more than 6-8months of invesment period.
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.
http://business-standard.com/common/storypage_c.php?leftnm=10&autono=263557 Reliance doubles gas estimates, to raise $2 bn
http://www.bloomberg.com/apps/news?pid=20601091&sid=aHYAbDWZYSJg&refer=india India's October Vehicle Sales Surge, Driven by Festival Demand
http://economictimes.indiatimes.com/articleshow/287555.cms Tech hub India draws 25% of global R&D funds
http://www.businessstandard.com/common/storypage.php?autono=263525&leftnm=1&subLeft=0&chkFlg Hindalco in JV with US firm