Stock Weekly Trend-18 Feb. 2013 – 22 Feb. 2013
Markets settled lower for fourth consecutive week ahead of cautious trading before budget. Nifty future,
on weekly charts has given breakout surpassing the lower band of upper
channel pattern. Crucial level is found around 5838 below which if it
sustains then it may find support in the zone of 5800-5700. While, if
some correction happens then it may find resistance around 5980-6050.Support: 5800/5700
Resistance: 5980/6120
Crucial Point: 5838
Close: 5892.65
Market Weekly News:
- Sensex ends week on slightly lower note; mid & small-caps plunge.
- Wall Street ends slightly lower, S&P positive for 7th week.
- Forex reserves in India down at $294.54 billion on Feb 8.
- UB Group may use money from stake sale to Diageo for Kingfisher Airlines.
- Sebi extends pre-open call auction to all scrips.
- Mahindra Satyam buys 51% stake in Brazilian firm.
Weekly Pick:
INFY HAS MADE AN UPWARD CHANNEL PATTERN AND CONSOLIDATED
AROUND HIGHER LEVELS AND MAY GIVE A POSITIVE BREAKOUT IN THE COMING
SESSIONS.
BUY ABOVE 2843 TARGETS 2895-2945. MAINTAIN SL OF 2780.
BUY ABOVE 2843 TARGETS 2895-2945. MAINTAIN SL OF 2780.
Weekly Call:
RANBAXY SELL BELOW 408.50 TARGETS 400-388 SL 420.
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