MARKET VIEW FOR THE WEEK 11TH FEB 2013 TO 15TH FEB 2013

Last week Indian equity markets settled sharply lower for the second consecutive week where Sensex and Nifty settled below the psychological market of 19600 & 5950 due to weak global cues, poor results and expectations, and downgrade in GDP @5% announced last week disappointed the market sentiment resulting in sharp decline in indices at the last hours of the weekly closing of the market. Sensex closed at 19484.77 & Nifty at 5903.50.

Going forward Indian markets will be highly volatile due to various events scheduled in this week. IIP data(Feb, 12th)  & WPI Inflation data (Feb, 14th) is scheduled during this week. Results of some heavy weight like SBI, ONGC, SAIL,  etc shall be in the lime light. Markets will look up and gradually catch the pre-budget rally from the mid of February as the  budgetary session in the Parliamentary commences from 21st February 2013. 

Buying in Large & Mid Cap shares is suggested on every fall. Shares like SBI, Reliance, HDFC, TCS, Infosys, Aegis Logistics, Bata, Deltacorp, Trent, Lupin, Sun Pharma etc are very good to buy in delivery.

Technically Nifty has shed almost 3.70% from its recent high of 6111.80 made on 29th January 2013. Now Nifty shall get strong support at 5800, breach of which shall bring Nifty to 5650 changing the short term trend of Nifty to negative. Hence all long position should be held with the stop-loss of 5800.

FOR THIS WEEK:
No trade zone for the Nifty is 5870-5950.
If Nifty breaks 5870, Short Nifty/Buy PE 5900 & PE5800, it may go further down to 5840 & 5800. Keep 5950 as Stop-Loss.
If Nifty breaks above 5950,  Buy Nifty/Buy CE 6000 & CE6100, it may go further up to 6030 & 6120. Keep 5870 as Stop-Loss.


FOLLOWING SHARES ARE GOOD TO BUY FOR THE SHORT TERM DELIVERY HOLDING (45-60 DAYS):

1. SUN TV(469.60): Buy for target of 490-500-550++

2. UNITED SPIRIT(1912.85): Buy for target of 2000-2440-2800++

3. DCM(79.30): Buy for target of 90-98-110++

4. L&T(1509.35): Buy for target of 1550-1580-1620-1660++

5. JM FIN(19.50): Buy for target of 22-24-28-30++++

6. GODREJ IND(311.85): Buy for target of 322-336-340-350-360+++

ASTROLOGICALLY: Market will be bullish from the mid of Feb to Feb last.

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.

Disclaimer: 
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.