Markets traded on lower levels last week and were much affected by global concerns and disappointing IIP nos. On daily charts, nifty future had made consecutive lower lows and in the coming sessions 4830 is seen as most crucial level. Bearish sentiments are expected to continue which can drag it towards 4700 while volatile movements can be seen on day of Inflation data. On higher side, 5050 will act as strong resistance for it.
Major Market News –
Ø Sensex posts weekly loss of 538 points; Power, Realty, IT hit most.
Ø Japan's Nikkei index ends at three-month low.
Ø IIP March contracts sharply at -3.5% versus 4.1% in February.
Ø Govt puts on hold raising FDI limit in insurance sector.
Ø JSW Steel shares plunge after SC directs CBI probe against B S Yeddyurappa.
Ø LIC, IL&FS sign pact for USD 2bn infra debt fund.
CALLS OF THE WEEK –
EXIDE SELL BELOW 120 TARGETS 115-110 SL 126.
HINDALCO SELL BELOW 113 TARGETS 110-106 SL 116.50..
LAST UPDATE ORIENTBANK SELL CALL 1ST TARGET ACHIEVED.
LAST UPDATE TCS BUY CALL NOT EXECUTED.
TECHNICAL VIEW –
BPCL FUTURE HAS BEEN CONSOLIDATING AROUND THE PREVIOUS LEVEL OF 715 AND IS EXPECTED TO SURGE ABOVE IT.
BUY ABOVE 715 TARGETS 740-770 SL 686.
For more information Click Here