WEEKLY REVIEW FOR NEXT WEEK

Summary of Weekly wrap (India Infoline):
Buy Union Bank of India :: CMP 314 TARGET 360;
Buy GE Shipping :: CMP 299 TARGET 315;
Sell Rcomm :: CMP 185 TARGET 166.

HDFC Securities:: With the markets in an uptrend on all time frames (short, intermediate and long term), we recommend having a long bias on the market. While intermediate and long-term investors could enter at current levels, it would be preferable to buy on any corrections. Levels to watch for buying are the previously mentioned support levels of 17249-17150/5171-5147.

It is important that any correction does not lead to the 16896-16560/5071-4961 levels being broken, as they are our short-term trend reversal levels.

We retain our view that the main indices are headed towards the 18048-18300/5400-5500 levels in the weeks to come. These levels coincide with the upper end of the upward sloping blue channel that the Sensex/Nifty are currently trading within. Traders however need to be prepared for some correction in the short term.

Stock Picks: Buy GE Shipping between 297-299 with stoploss of 288 for a target of 325.
Motilal Oswal: Buy Hindalco:: CMP : 145 Stop Loss : 140 Target : 161

Angel Securities: Our top picks in the IT sector are TCS, Wipro, Tech Mahindra and Mphasis. We recommend Buy SpiceJet (CMP 55) stock with a Target Price of Rs65. We maintain a Buy and Accumulate on Grasim and Ultratech, respectively. We maintain our Neutral view on ACC and Ambuja.

Liquidity is coming back in market; Be stock specific.