>> Sunday, April 26, 2009
The week started of with a gain and also ended with a gain.
The week was volatile.
Global cues were in favor of the Indian Markets.
More over we had banking stocks which rallied due to RBI rate cut policies.
Even though annual inflation maintained hovering around zero, banking and related stocks witnessed buying interest on hopes that falling interest rates will boost lending growth.
Highest Indian market capitalized company RIL has been no exception to the economic slowdown, as it witnessed a significant decline in topline and bottomline Y-o-Y. A trend of sharp adjustments in the final hour of trade set in, as it was only in the final hour that the upmove stimulated or selling gained pace.
The US Government is set to announce Federal Government’s ‘Stress Test’ details on the 4th of May, which could keep global cues under pressure ahead of it.
Sectors to watch out for -
IDBI Bank - (67.45) Targets of 73 and 75. SL of 63
DLF - (242.10) Targets of 256 and 265. SL of 234
LNT - (886.25) Targets of 905 and 915. SL of 870
IFCI - (26.95) Targets of 28.10 and 29.45. SL of 24.50
NIFTY Weekly Technicals.