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
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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/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