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Coming week updates
Last week quick updates
Sensex closed 237 pts UP on fund buying during the week
Indian markets climbed over 200 points to close at 16,000 with volatility this week on the back of intense buying by FIIs on mixed global cues.
It gained due to fund building position ahead of three day weekend due to a market holiday on Friday.
The Sensex went up 236.94 points (1.48%) to 16,152.59 in the week ended Feb. 11, 2010 while NSE Nifty gained 69.6 points (1.46%) to 4,826.85 in the same period.
Updated - 14 Feb 2010
Mid-cap stocks climbed 73.81 points, or 1.15%, to 6,509.74 in the week. While small-cap shares rose 105.15 points, or 1.28%, to 8,303.08 during the week.
Major gainers over the week in the sectors were IT gained 3.59%, TECk 3.36%, Realty rose 1.94%, BSE Conusmer Durables climbed 2.36%, and Oil & Gas went up 1.22%.
Top stock gainers Sensex index were Hero Honda Motors (6.56%), Infosys Technologies (6.19%), Jaiprakash Associates (5.95%), Grasim Industries (5.41%), and ACC (4.98%) over the week.
Top Losers were Tata Steel (2.99%), Tata Power Company (1.64%), NTPC (0.83%), DLF (0.79%), and Maruti Suzuki India (0.28%).
Economy Update
The government estimated the economy to grow by 7.2% in the financial year 2009-10, against 6.7% a year ago, despite contraction in farm production. The projected GDP figure for the current fiscal, as put out by the advanced estimates of the Central Statistical Organisation, is lower than the Reserve Bank and the Finance Ministry`s forecasts.
The Finance Ministry pegged GDP growth at 7.75% in the mid-term economic review, while the RBI projected the economy to grow by 7.5% in its quarterly monetary policy review last month. However, the economy is likely to grow at a higher pace in the second half than 7% in the first half.
Inflation
Food inflation rose for three successive weeks, moving closer to 18% for the week ended on January 30, on account of rising prices of potato and pulses. The wholesale price-based food inflation rose to 17.94% in the last week of January from 17.56% in the previous week.
Nifty Future Intraday trading levels
We have started providing Nifty intraday trading tips through SMS from 1 Feb. If you are interested then please visit at
http://www.daytradingshares.com/nifty_trading_tips/nifty_fando_future_trading_tips.html
Investment stock tips
We have posted new stocks for investment at below links
Researched stocks
http://www.daytradingshares.com/stocks_buy_sell_tips.php
Where to invest and why - This section is posted on home page.
Welcome to Indian Share Market
Your Desire to Earn
Short Term Traders/Investors
Budget session is expected on 24 to 26 February 2010. Some stocks are expected to gain during or before this session. We have posted such stocks at below link
http://www.daytradingshares.com/highlights/prebudget_stocks.html
Coming week forecast
Due to aggressive selling for last couple of weeks, markets are in oversold zone and are expected to bounce back till 4900 (Nifty). But markets are not bullish and are expected to come down again. Most of the market watchers including FII (Foreign Institutional Investors) are waiting for Budget announcement which is expected on 24 to 26 Feb.
Nifty levels for the week
Resistance at 4950.
Support at 4700. If Nifty closes below this level then it is expected to go till its 200 DMA (daily moving average) which is at 4630 and breaking this level may take the nifty in downtrend.
Please visit below link to see the technical chart of Nifty.
http://www.daytradingshares.com/Nifty_trading_levels.html
Government’s plans about disinvestment
We have posted all details about governments disinvestment plans and see how you can take benefits of same
We will send you these details in coming week to your email ID’s
http://www.daytradingshares.com/IPO_section/PSU_government_companies.html
http://www.daytradingshares.com/highlights/what_is_disinvestment.html
About Website
We have given new look to our website and posted new contents/stock picks including Researched stocks, Where to invest and why? Section, various sections for day traders and lot more.
Visit at http://www.daytradingshares.com
