Weekly Market (29-12-08 to 2-1-2009)

Market may recover after sharp fall in this week Nifty lost 220 points (-7.1%) & Sensex lost 770 points (-7.63%) in the last week. Nifty closed below the 2,900 mark while the Sensex drifted below the 9,500 level. Hopes of further rate cuts by the RBI, Rate reduce in fuel prices and a likely second government stimulus package to pump prime the economy may trigger a recovery on the bourses after a sharp slide last week.
In last week, Inflation slipped to a nine-month low, 6.61% against 6.84% (WoW). The government said advance taxes paid by companies declined 22% reflecting economic slowdown. Also there is now tension of war at Indo-Pak border, but as of now both nation’s government said that, there would be no Indo-Pak war.
However, trading volumes are likely to remain low as most foreign fund managers are on a vacation for Christmas and the New Year. Use Stop loss strictly in your every trade, because market is heavily volatile with narrow trading range.
Last week nifty could not sustain above 3000. Now below 2842 nifty may touch 2780-2696 and if nifty close above 2908 at least for two days then it may touch 2989,3050 to 3111 in coming days.
Here is some stocks for my view:-
CAIRN (159): Buy above 163 for target of 174-180-190 with stop loss of 152.
GTOFFSHORE (212):Buy this stock above 215 with stop loss of 206. Target is 228-233-239.
Bank of Baroda (263):Buy only above 266 for target of 280-287-294 with stop loss of 253.
PFC (123): Sell this stock if close below 119 with stop loss of 124. Target is 116-111-106.

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Weekly Report.

Nifty for most part of the week remained range bound between 2630-2800 with a positive bias. Traders holding long positions may continue to do so as long as Nifty holds on 2630.On the upside Nifty has strong resistance at 2860.Once Nifty closes above this level we may see further upside till 3200. Immediate support for Nifty is at 2630 & then 2500.

Friends Here is some stocks for weekly base :-(01/12/2008 to 05/12/2008)

1. Buy DIVISLAB around 1200,Target 1300,SL1149 Close:- 1226
2. Buy KFA above 28.50,Target35,SL 24.90 Close:- 27.65
3. Buy ANDHRABANK around 53,Target 65,SL 48 Close:- 55

Our Hot call:- HDFC Buy at every Dip current close :-1469 Target(1):-1575 (2)1648 SL :-1369

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Sensex Trend down

Sensex trend Down so be careful its only one week Rally for next week so dont trape.

Indiser news :- lok housing take over new company or merge the company terms lok hosing promoter holding 62 % so Buy at this level.

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