Market Last Week Round up

Last week we have seen a minor rally in last days. Still it doesn’t set the mood of the market. Crude oil price has fallen a bit and Inflation data was declared which was bit below expectations giving minor pullback in the market. Still global cues hold the key.

 

MARKET STATS
Group	04-07-08	11-07-08	18-07-08
Sensex	13454	13470	13635
Nifty	4016	4049	4092
Weekly Inflation (%)	11.63	11.89	11.91

STRATEGY FOR NEXT WEEK

Due to short covering we have seen rally in last few days. Still political jitters will hamper the movement of market. 22 July is an important day which will decide the trend of the Nifty and Sensex. Technically Nifty is still in no mans land and can move either way around. Caution is the keyword in the market at this point of time. We can see stock specific rally in coming week yet avoid going for Long delivery positions at this point of time.

 

SENSEX major SUPPORT are 12000-11800 and RESISTANCE are 14490-15150

NIFTY major SUPPORT are3600-3650 and RESISTANCE are 4358-4545

 

!!!Stock specific movement will be there. !!!

Best Sectors for the week

Best Stocks for the Medium term

1. SBIN

2. WWIL

 

 

Caution is to be taken in market.

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