Weekly Stock News

Stock  Weekly Trend-25 Feb. 2013 – 01 Mar. 2013

Markets settled lower for fourth consecutive week exhibiting lower lows on weekly charts. It has closed below the upward channel pattern and seems to continue its bearishness in the coming week as well. Key events are Union Budget and F&O Expiry in the coming week which will affect the market volatility. Below 5800 next support is seen around 5700 while 5980 will act as strict resistance for it.

Support: 5740/5630

Resistance: 5980/6070

Crucial Point: 5820

Close: 5892.65

Market Weekly News:

• Indian shares fall for 4th week; Union Budget eyed.
• Wall Street rebounds on HP results, Fed officials’ views.
• Forex reserves fall by $1 bn in week ending Feb 15.
• HDFC Bank and Bharti Airtel may sell US dollar bonds.
• HC orders DCHL to give security of Rs 101 crore to Tata Capital.
• Govt to go ahead with divestment in four companies.

Weekly Pick:

AMBUJACEM FUT. IS MOVING IN A SHORT DOWNWARD CHANNEL PATTERN AND CONSOLIDATED AROUND ITS 100 day EMA. HENCE, IT IS EXPECTED TO GIVE A POSITIVE BREAKOUT.

BUY ABOVE 202 TARGETS 210-220. MAINTAIN SL OF 190.

Weekly Call:

JSWSTEEL SELL BELOW 767 TARGETS 749-729 SL 800.
ZEEL BUY ABOVE 223 TARGETS 229-237 SL 212.

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