WEEKLY REVIEW WEEK 14 3 APRIL 2013
NIFTY OVERVIEW After a weak previous week, Nifty has jump started this week with confidence. There is a renewed sense of bullishness in the market. And it is being witnessed in the widespread participation from large caps as well as mid and small cap stocks. Midcaps and smallcaps are seeing fresh round of buying interest. Certain stocks in this segment may surprise with their rise in the coming days. And market analyst may fail to find out the news or reasons behind such a rise. However, typically, it can be considered as value based buying. Technically, Nifty has reversed from its 200 dma (day moving average). This is a long term support. A sustained buying interest from here could lead Nifty to 5850 in next one or two weeks. The rise from here could be termed as bounce back rather than trend reversal, for the time being. On the downside 5600 remains a support for the short term. Daily Candle Chart of Nifty (futures) 2
BANK NIFTY OVERVIEW Technically, Bank Nifty now trades comfortably above its 200 dma (day moving average) and that is a positive indication. Further, in case of any rally in the broader markets, banks would participate with their fair share. We believe that any correction in bank nifty to around 11400 levels would be result in fresh buying opportunity. Bank Nifty s next resistance lies at 11870 and supports stand deep at 11000. Daily Candle Chart of Bank Nifty (futures) 3
STOCKS IN FOCUS ICICI BANK LTD BSE Code:532174 NSE Symbol: ICICIBANK P/E :15.24 ISIN Demat:INE090A01013 Div & Yield %:1.57 EPS :68.69 Book Value:523.65 Market Cap (Rs Cr.):120828.59 Face Value :10 Recommendation : BUY ABOVE 1060 Last Close : 1046 Targets : 1100-1135 Stop loss: 1038 (closing basis) ICICI Bank has made double bottoms around 1000 levels and now the stock is seeing buying interest. The stock is now trading above its 200 dma (day moving average), which is a long term support. The stock is a buy for the targets of 1100-1135 and stop loss of 1038 on closing basis. 4
STOCKS IN FOCUS JAIPRAKASH POWER VENTURES LTD BSE Code:532627 NSE Symbol: JPPOWER P/E :17.28 ISIN Demat:INE351F01018 Div & Yield %:0 EPS :1.51 Book Value:21.83 Market Cap (Rs Cr.):7668.18 Face Value :10 Recommendation : BUY Last Close : 26.15 Targets : 28.50 30.60 Stop loss: 24 (closing basis) JP Power has made multiple bottoms at around 24.50 levels. So this level becomes a strong support for the stock. The stock has given a doji candlestick pattern on the weekly charts and this suggests the the downtrend may come a halt or may reverse from here. The stock is a buy for the targets of 28.50-30.60 and stop loss of 24 on closing basis. 5
STOCKS IN FOCUS LUPIN LTD BSE Code:500257 NSE Symbol: LUPIN P/E :20.70 ISIN Demat:INE326A01037 Div & Yield %:0.50 EPS :30.75 Book Value:83.45 Market Cap (Rs Cr.):28493.27 Face Value :2 Recommendation : SELL Last Close : 641 Targets : 620-600 Stop loss: 651 (closing basis) Lupin has given a shooting star candlestick pattern at its top. This is a bearish indication. The stock s RSI (relative strength index) is showing divergence. The stock could see a profit booking from here. The stock is a sell for the targets of 620-600 and stop loss of 651 on closing basis. The stock is a buy for the targets of 90-100 and stop loss of 68 on closing basis. 6
STOCKS IN FOCUS MARUTI SUZUKI INDIA LTD BSE Code:532500 NSE Symbol: MARUTI P/E :21.09 ISIN Demat:INE585B01010 Div & Yield %:0.57 EPS :62.04 Book Value:525.66 Market Cap (Rs Cr.):37810.96 Face Value :5 Recommendation : BUY Last Close : 1307 Targets : 1350-1400 Stop loss: 1259 (closing basis) Maruti is currently trading near its trendline support. The stock has given a bullish engulfing candlestick pattern on the daily charts, which is a bullish indication. The stock is a buy for the targets of 1350-1400 and stop loss of 1259 on closing basis. 7
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