>> Sunday, April 5, 2009
We started off negative but in the latter half of the week we saw some positivity.
The week overall was good .
The stimulus package announced by the Japanese Government, ECB cutting its benchmark interest rates by 25 bps and better than expected sales figure of the Indian automobile companies lifted the BSE Sensex above the psychological 10,000 mark and the S&P CNX Nifty to the 3,200 mark.
The biggest positive of the week however was the announcement of USD 1.1 trillion stimulus package to tackle the global financial crisis in the G20 Summit.
I like always term this rally as a Election 09 rally or a global pull back rally.
Inflation increased a bit. (Our economy didnt go in deflation this time.)
Sectors I am bullish on.
Larsen & Toubro (LNT) - CMP - 717.25 , Target 755 (Time frame - 1 month) SL - 685
Tata Motors - CMP - 202.95 , Target 225 (Time Frame - 20 to 25 days) SL - 189
HDIL - CMP 101.60 , Target 114 (Time Frame - 1 month) SL - 92
Rajesh Exports - CMP 28.00 , Target 33 (Time Frame - 1 month) SL - 22
NIFTY Weekly technicals.
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