WEEKLY REVIEW WEEK 7 12 FEBRUARY 2013
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
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 12100-12200. And on the upside, key resistance comes at 13320. Weekly Candle Chart of Bank Nifty (futures) 3
STOCKS IN FOCUS HINDALCO INDUSTRIES LTD BSE Code:500440 NSE Symbol: HINDALCO P/E :11.55 ISIN Demat:INE038A01020 Div & Yield %:1.38 EPS :9.7 Book Value:164.49 Market Cap (Rs Cr.):21461.54 Face Value :1 Recommendation : BUY Last Close : 112.30 Targets : 117-122-127 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 108-109. The stock is expected to see a bounce from here. The stock is a buy for the targets of 117-122-127 and stop loss of 107 on closing basis. 4
STOCKS IN FOCUS OIL AND NATURAL GAS CORPN LTD BSE Code:500312 NSE Symbol: ONGC P/E :11.79 ISIN Demat:INE213A01029 Div & Yield %:3.16 EPS :26.14 Book Value:132.03 Market Cap (Rs Cr.):263851.00 Face Value :5 Recommendation : BUY CMP: 316 Targets : 330-356 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 330-356 and stop loss of 299 on closing basis. 5
STOCKS IN FOCUS TATA CONSULTANCY SERVICES LTD BSE Code:532540 NSE Symbol: TCS P/E :22.51 ISIN Demat:INE467B01029 Div & Yield %:1.76 EPS :62.82 Book Value:126.49 Market Cap (Rs Cr.):276836.15 Face Value :1 Recommendation : SELL Last Close : 1419 (futures) Targets : 1395-1381-1360 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 1395-1381-1360 and stop loss of 1443 on closing basis. 6
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