End of day summary and outlook for 05Dec06

As expected the NSE Nifty failed to cross the opening high made today morning inspite of repeated attempts. The NSE Nifty traded in a narrow range and closed above 4000.00 for the first time at 4001.00 with a gain of 3.40 points. The BSE sensex closed at 13874.33 with a gain of 29.55 points. Tata motors and ACC were the majot gainers of the day. The FIIs were net buyers in the cash market for 5.09 crores, net sellers for 175.45 cores in index futures and 142.04 crores in the stock futures. This is the fifth consecutive day they have sold the stock futures.

The outlook for 05Dec06 is the same as today. Markets will open in the positive and has to cross the opening high to gain momentum for any further rally. The Nifty has the resistance at 4015-4025-4040 and support at 3980-3930-3913.

Disclaimer: The recommendations provided would be purely on my personal opinion and doesnot reflect any fund house interest or my personal holdings. I would not be responsible for the loss in trades undertaken based on my recommendations.