>> Sunday, March 29, 2009
The week began on an extremely positive note supported by strong global cues on account of economic announcements in US and China.
Back home, short covering in the derivatives segment and fall in headline inflation to a record low lifted the BSE Sensex to the psychological 10,000 mark and the S&P CNX Nifty to the 3,000 mark.
Banking stocks extended gains after the RBI issued fresh norms for the treatment of provisions for restructured accounts, standard assets, and non-performing assets (NPAs).
Indian Economy Headed towards deflation , current inflation stands at 2.27
Tata Motors however garnered significant buying interest as it launched the Nano.
Many stocks gave superb returns in the week.
NIFTY gained 300 odd points last week.
Monday markets are expected to open negative as Walstree had a fall after good rise last week.
Over all market sentements are driven by Election 09.
Stocks to watch out for in Short term -
RNRL - (49.25) Target 56. SL 45.55
Hindalco - (55.05) Target 61.25 SL 51.90
RCom - (183.85) Target 194. SL 176.50