>> Sunday, April 19, 2009
The week started off with a good opening. We had good FII's inflow in the week.
Markets went above 11K mark which indirectly increased the volumes of few stocks.
Few stocks gave excellent returns such as Unitech and Jai Corp.
With inflation near zero levels, the central bank's next monetary policy review in the week ahead has raised expectations of a rate cut. Interest rate sensitive stocks could thus continue to remain in the limelight during the beginning of the week.
Though stock specific moves can be expected due to the result season, the recent market trend suggests that there could be profit booking at higher levels.
Sectors on which I am bullish
Unitech (52.60) targets of 56.85 and 62.45. SL of 46.90
Suzlon (58.00) targets of 65 and 68. SL of 54
Axis Bank (503.80) targets of 520 and 535. SL of 490
Bank of Baroda (296.50) targets of 310 and 321 . SL of 284
NIFTY Weekly technical analysis.