WEEKLY REVIEW WEEK 7 12 FEBRUARY 2013

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1 WEEKLY REVIEW WEEK 7 12 FEBRUARY 2013

2 NIFTY OVERVIEW Nifty did see a round of profit booking, as discussed in our previous week s report. We believe that the supports lie at around 5920 levels. An upward sloping trendline lends this support to Nifty. However, in case Nifty decisively breaks this trendline and closes below 5890, then doors for 5695 open up. So as of now the support for Nifty is at 5920 and on the upside, key resistance is at 6120 level. Weekly Candle Chart of Nifty (futures) 2

3 BANK NIFTY OVERVIEW Similarly, profit booking was expected in Bank Nifty too and it is already on going. From here on, Bank Nifty has supports in the range of And on the upside, key resistance comes at Weekly Candle Chart of Bank Nifty (futures) 3

4 STOCKS IN FOCUS HINDALCO INDUSTRIES LTD BSE Code: NSE Symbol: HINDALCO P/E :11.55 ISIN Demat:INE038A01020 Div & Yield %:1.38 EPS :9.7 Book Value: Market Cap (Rs Cr.): Face Value :1 Recommendation : BUY Last Close : Targets : Stop loss: 107 (closing basis) Hindalco has seen a sharp correction from the level of 137 to around 108. However, this correction has brought the stock to trendline support at around The stock is expected to see a bounce from here. The stock is a buy for the targets of and stop loss of 107 on closing basis. 4

5 STOCKS IN FOCUS OIL AND NATURAL GAS CORPN LTD BSE Code: NSE Symbol: ONGC P/E :11.79 ISIN Demat:INE213A01029 Div & Yield %:3.16 EPS :26.14 Book Value: Market Cap (Rs Cr.): Face Value :5 Recommendation : BUY CMP: 316 Targets : Stop loss: 299 (closing basis) ONGC has declined sharply over the last two weeks. The correction is about 50% retracement of the recent rally. The stock is currently trading closer to a trendline support. The stock is a buy for the targets of and stop loss of 299 on closing basis. 5

6 STOCKS IN FOCUS TATA CONSULTANCY SERVICES LTD BSE Code: NSE Symbol: TCS P/E :22.51 ISIN Demat:INE467B01029 Div & Yield %:1.76 EPS :62.82 Book Value: Market Cap (Rs Cr.): Face Value :1 Recommendation : SELL Last Close : 1419 (futures) Targets : Stop loss: 1443 (closing basis) TCS has made a double tops at around 1442 levels. A double top is a reversal pattern. After the double top the stock has given an inside day, which shows that the upward momentum has come to any halt. The stock is a sell for the targets of and stop loss of 1443 on closing basis. 6

7 DISCLAIMER Created by: Inventure Research Contact : Research Coordinator, Inventure Growth & Securities Ltd,201,Viraj Tower, Near Landmark Building, Western Express Highway, Andheri (East),Mumbai Tele: Extension :578, Fax: milan.bavishi@inventuregrowth.com, website : Notice: This document is prepared by Mr. Milan Bavishi. Research for Inventure Group for private circulation exclusively for their clients. Disclosure: We and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company/companies mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company / companies discussed herein or act as advisor or lender / borrower to such company / companies or have other potential conflict of interest with respect to any recommendation and related information and opinions. The same persons may have acted upon the information contained here in. Disclaimer: This document has been furnished to you solely for your information and may not be reproduced or redistributed to any other person. This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The material is based upon technical reading of the Graph. Though utmost care is taken by the writer of this document, and it should be relied upon as such. Neither Mr. Milan Bavishi of Inventure Growth & Securities Ltd. nor any person connected with any of these entities accepts any liability arising from the use of this document. Opinions expressed herein the report are our own and are based on Technical Research as of the date appearing in this document only. Reports based on Technical Analysis centers on studying charts of a stock's price movement and trading volume, as opposed to focusing on a company's fundamentals and as such, may not match with a report based on a company's fundamentals. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward- looking statements are not predictions and may be subject to change without notice. Our proprietary trading and investment businesses may make investment decisions that may not exactly adhere to the recommendations expressed herein. No part of this material may be duplicated in any form and /or redistributed without Mr. Milan Bavishi s prior written consent. In so far as this report includes current or historical information, it is believed to be reliable, although its accuracy and completeness cannot be guaranteed. 7

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