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MARKET LOSES GROUND AHEAD OF RBI'S POLICY REVIEW !!!
WEEK WRAP
Markets are set to end the weak on a negative note due to weakness in financial shares as investors turned jittery on expectations of 25 bps rate hike by Reserve
Bank of India next week.
India has also underperformed Asian peers in the past week which posted gains due to weakness in the Dollar Index. Rajesh Iyer, Head Products & Research,
Kotak Wealth Management said, “Indian markets have shown a mild correction this week on account of the F&O expiry.
BHEL was off 0.1%, but peer Larsen & Tourbo dipped 4%, dragging the Sensex down 44 points. Suzlon Energy and Praj Industries were off 4% each. Crompton
Greaves fell 10% after fourth results disappointed. Net profit was up 5% at Rs 270 crore y-o-y and margins were hit due to higher input costs.
Sydney fell 1.52 percent as exporters were hurt by the stronger "Aussie", which is approaching US$1.10 after credit ratings agency Standard & Poor's last week
downgraded its outlook on US debt for the first time
The greenback was pressed on Thursday after US Fed chief Ben Bernanke said there was no timetable to raise interest rates while its present loose monetary
policy would continue through to June.
US MARKET
US stocks rose on Friday on strength from Caterpillar and other industrials, lifting the Dow and Nasdaq to their best monthly performance since December.
Heavy machinery manufacturer Caterpillar Inc led the way after reporting a fivefold increase in profit and raising its full-year forecast.
Silver roared ahead and gold was set for its seventh consecutive weekly rise, its longest winning streak since 2007. It was last up at $1,557.77 an ounce on
course for an 8 per cent monthly gain, its biggest since November.
With weak U.S. economic data this week also offering no relief, the dollar index, which tracks its performance against a basket of major currencies, fell to its
lowest level since July 2008 this week before recovering somewhat.
The index is down about 7.5 percent this year, making it one of the world's worst-performing assets, and is on track for its biggest weekly fall since mid-January
Government faces cash crunch on tax refunds: The government is facing a temporary cash crunch on account of tax refunds of nearly Rs 45,000 crore during
April and May, prompting it to resort to short-term borrowing .
India can become economically developed by 2020: Kalam India can become economically developed by 2020 if it maintains a GDP of 10-11 per cent as there
are nine more years to achieve 'Vision 2020' goals, former President A P J Abdul Kalam said.
SECTORIAL INDICES
Indices Open High Low Close
GAINERS LOSERS
Scrip GAINERS
Current Close Change Chg % Scrip Current Close Change Chg %
SHASUN CHEM&D 80.10 55.00 45.63 ATLANTA LTD 86.35 129.05 -33.08
KIRLOSK BROS 202.60 150.50 34.61 TCI DEVELOP 230.95 282.80 -18.33
RANKLIN SOLU 29.40 21.85 34.55 MONEY MAT.FIN 60.10 72.95 -17.61
FAG BEARINGS 1,157.25 903.15 28.13 WINDSOR MACH 63.90 77.40 -17.44
TECHNICALS
Properties Values
Support 1 5695
Support 2 5950
Resistance 1 5825
Resistance 2 5950
The Nifty futures closed and settled finally at 5753.80, down by -56.60 or -0.97 %. It is looking bearish in the coming trading
session if it manages to trade below the support level of 5695 else above resistance level of 5825 it would be in an upward
trend.
TECHNICALS
Properties Values
Support 1 11430
Support 2 11330
Resistance 1 11775
Resistance 2 11870
Figure: Bank Nifty Weekly
Bank Nifty Futures shut stop at 11511.75 down by -250.70 points or -2.13 % It is looking bearish in the coming trading session
if it manages to trade below the support level of 11430 else above resistance level of 11775 it would be in a upward trend.
EDUCOMP IS IN CONSOLIDATION PHASE FROM LAST FEW TRADING SESSION. .IF IT MANAGES TO SUSTAIN ABOVE 484 IT WILL TAKE UP
MOVE .WE RECOMMEND TO BUY EDUCOMP IN CASH ABOVE 484 TARGET 503,515 WITH STOP LOSS OF 463.
Price `477.80
Change `10.95
Volume 834405
52 Week High 717.30
% From High -33.39%
Day High 482
EPS 31.16
KEY STATISTICS
Primary Factors
Almost 48.98% increase in Q o Q Earnings.
Sources: Sihl.in
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