"Beginning of the week, the market tumbled on account of Goldman Sachs sues. But the market was able to snap the previous losses supported by in line with expected RBI`s monetary policy
. RBI raised key policy rates and CRR by 25 bps each. Moreover firm global market and IMF announcement of India`s growth at 8.50% for the calendar 2011 boosted the sentiments. The banking stocks were among the major gainers of the week on account of announcement of government recapitalization of PSU banks. Further the surprise bonus issue from Wipro supported the market. Overall the market health remained strong by the end of the week. The food price index rose 17.65% in the year to 10 April 2010," .... said Aditya Birla Money, for the past week`s performance.
. RBI raised key policy rates and CRR by 25 bps each. Moreover firm global market and IMF announcement of India`s growth at 8.50% for the calendar 2011 boosted the sentiments. The banking stocks were among the major gainers of the week on account of announcement of government recapitalization of PSU banks. Further the surprise bonus issue from Wipro supported the market. Overall the market health remained strong by the end of the week. The food price index rose 17.65% in the year to 10 April 2010," .... said Aditya Birla Money, for the past week`s performance.The Indian Meteorological department (IMD) expects normal rainfall in the June-September monsoon season this year. Expectations of a normal monsoon this year and optimism about fourth quarter corporate earnings lifted stocks last week as the market shrugged off a rate-hike by the central bank at its annual policy review earlier in the week.
Asian markets continued to ease on escalating tensions on the Greece front as the buyers stood on the sidelines ahead of the weekends, awaiting for the proper guidance on whether Greece would avail of IMF and EU finances.
The Nifty ended the week at 5,304.10, up 34 points (0.66%) and the Sensex shut shop at 17,694, up 120 points. Benchmark indices closed in green for the fourth consecutive day. For the week, the Nifty and Sensex closed up around 1%. Turnover in NSE F&O segment was Rs 1,02,453.29 crore, lower than Rs 1,45,808.60 crore on Thursday, 22 April 2010.
Nifty future sheds 8 points and closed at 5305 in closing session though it shuts at 5313 at 3.30 p.m. on the last trading day, i.e. on Friday.
"The Nifty day chart shows consecutive tops which signals for the positive trend to continue for the forthcoming sessions. The momentum is seen strong thereby supporting the positive trend. If Nifty is able to break and sustain 5,335 levels supported by good volume, then the next levels would be 5,388-5,400 levels in near term. On downside immediate support is seen at 5,250 levels and break of it would test 5,190 levels in near term," said Aditya Birla Money, for the upcoming week`s outlook.
Union Cabinet today approved infusion of Rs. 15000 cr. into the public sector banks. Watch Bank Nifty. Bank of India, Vijaya Bank in Midcap/smallcap.
Next week, if NIFTY crossed 5378 decisively, then we may see 5405/5431.
The most important level is 5303. Watch and follow it. Below 5303, you will get 5284/5268/5255.
Better avoid options trading
in expiry week. As per IIFL weekly wrap-up, they recommended to buy MAYTAS INFRA.
The most important level is 5303. Watch and follow it. Below 5303, you will get 5284/5268/5255.
Better avoid options trading
in expiry week. As per IIFL weekly wrap-up, they recommended to buy MAYTAS INFRA."I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." - Warren Buffett
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