MARKET VIEW FOR THE WEEK 26TH NOV 2012 TO 30TH NOV 2012

In the past week Indian Stock Market ended the volatile session on flat note led by losses in interest rate sensitive stocks. Ending the week Sensex closed at 18506.57 and Nifty closed at 5626.60 with a loss of around 1%.

Going forward the Indian Stock market shall be volatile amid the ongoing winter session of the Parliament. Also some key economic data like Q3 GDP of US(Est.:2.80%) on 29th November and Q2 GDP of India(Est.:5.30%) on 30th November shall also be the key factors for the markets, to watch for.
The view for the market is clear, utilize any sharp correction or fall towards the levels of strong support (Which is around 5450 in terms of Nifty) in buying the quality and blue chip stocks.
Few experts, analysts and informers visualize the following stocks as worthwhile investing on correction:
L&T, SBI, HDFC, HINDUSTAN LEVER, GLAXO CONSUMER, CERA SANITARY, TTK PHARMA, ALEMBIC PHARMA, RALLIS, EXIDE, RELIANCE, RCOM, ZEE ENT, KTK BANK,  ETC.

Technically the views of various analysts could be summarized as:
"The daily chart of Nifty is showing that it has been moving in the range of 5540 and 5820 since last five weeks. We expect this movement would continue for another few days. If Nifty is able to maintain above 5820, an upward rally might continue to 5960-6040 in the short term. However a breach of 5540 is likely to take Nifty to 5450 levels in the extreme short term."

FOR THIS WEEK:
No trading zone for the Nifty is 5540 to 5650, which are support and resistance respectively. 

Buy Call Options (CE5600 & CE5700) if Nifty breaks and stays above 5650, keeping the stop-loss of 5540 for the target of 5730 & 5820.

Buy Put Options (PE5600 & PE5500) if Nifty breaks and stays below 5540, keeping the stop-loss of 5650 for the target of 5500 & 5450.

FOLLOWING STOCKS ARE GOOD IN DELIVERY HOLDING PERIOD 45-60 DAYS:

1. SUN TV (384.60): Buy at cmp or on correction for the target of 400-415-430+++

2. AXIS BANK(1254.80): Buy at cmp or on correction for the target of 1280-1320-1350

3. ZEE ENT(204.20): Buy at cmp or on correction for the target of 220-240++++

4. BHEL(224.65) : Buy at cmp or on correction for the target of 240-260++++

5. TATA GLOBAL BEV(163.20): Buy at cmp or on correction for the target of 200-225++++

ASTROLOGICALLY: Mercury becoming direct fro 26th Nov , is a good sign for the market to inch up, as Jupiter is retrograde, we can't expect any fire works till it gets support from any one of Neptune, Uranus or Pluto... so wait for some more time, say till Dec 2nd week to get some real up side, failing which Nifty shall be rising only after 31st March 2013, when Jupiter becomes direct........

Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.

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This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.