Weekly News letter and stocks to watch out for.

>> Sunday, May 10, 2009

Markets gained yet again for the ninth consecutive week amidst high volatility as aggressive buying was witnessed on the first trading day.
The BSE Sensex breached the 12,000 mark on the back of positive global cues and buying support from FIIs and domestic institutions.

FII Trends are expected to remain positive.

The week ahead, maybe guided by the trends in the international markets at the beginning while back home, the IIP numbers which are expected to be announced in the mid-week could marginally influence the markets.

Volatility is expected to remain high as the results of Elections will be coming on 16th May.

Sectors to look out for -

  • IT (Bearish)
  • Pharma
  • Telecom
  • FMCG
Stocks to watch out for -

RCom - (229.60) Targets of 236 and 241. SL - 222

Unitech - (52.80) Targets of 54.25 and 56.80. SL - 50.25

RPL - (117.30) Targets of 123 and 131. SL - 111

GAIL - (261.05) Targets of 268 and 279. SL - 254

NIFTY Weekly Technicals.