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


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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://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