Weekly Nifty-04 Feb 2013

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					Weekly Nifty Report for 04/Feb./2013 – 08/Feb./2013

Markets settled the expiry week sharply lower around their support levels on back of weak global
cues. RBI Policy was unable to cheer markets for long and profit booking was seen on higher levels of
6080-6100 and 6000 acted as major support. On a technical note, a rising wedge pattern is seen and
weekly charts are exhibiting higher highs and higher lows indicating certain correction. If it surpasses
and holds below 6000 level then 5900 is seen as immediate support. While 6150 will act as crucial
mark in the coming week.

Support: 5940/5830

Resistance: 6150/6250

Crucial Point: 6150

Close: 6036.10

Market Weekly News:

        Sensex plunges 322 points last week to settle below 20,000.

        Tata Motors, UltraTech fall briefly; NSE probes decline.

        Jet Air flies into black in Q3, stock up.

        Slow sales, high costs drag TVS Motor Q3 net down 9% YoY.

        BHEL Q3 disappoints, net slips 18% to Rs 1182 cr; shrs fall.

        HCC Q3 net loss declines to Rs 38.5 cr; shares gain 2%.

Weekly Pick:

AXISBANK HAS SHOWED A BULL RUN LAST WEEK AND CONSOLIDATED NEAR TO ITS HIGHS AND SOME
MORE POSITIVE MOMENTUM IS SEEN AHEAD.

BUY ABOVE 1516 TARGETS 1540-1580. MAINTAIN SL OF 1475.

Weekly Call:

HCLTECH BUY ABOVE 1611 TARGETS 1631-1655 SL 1580.
TITAN BUY ABOVE 276.75 TARGETS 280-285 SL 272.

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