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