WEEKLY NEWS

High inflation can't be new normal: Subbarao

RBI Governor D Subbarao has said that high inflation

can not be the new normal. He reiterated today that

India's near-term inflation target remains around 5%. He

demolished the argument for keeping India's near term

inflation target higher.What the Reserve Bank Governor

is saying today is significant for a longish period of time

not necessarily for the short-term. At least for the past

three or four years starting from Kaushik Basu there has

been a pressure on the Reserve Bank to accept that

India's inflation cannot be at the old 5 percent goal

which was attained over the past 15 years up until 2008

and that it has to be revised higher.

SC dismisses KFA's plea on depositing Rs

185cr to IT dept

The Supreme Court today rejected Kingfisher Airlines '

plea against the Karnataka High Court's order directing

it to deposit around Rs 185 crore with the Income Tax

Department as TDS from its employees' wages.The

apex court, which had asked the cash-strapped airlines

to deposit the money within four weeks, refused to

extend the time limit as sought by the Kingfisher's

counsel.

Economy to bounce back to 8% growth rate by

2015-16: PM

Striking an optimistic note, Prime Minister Manmohan

Singh today exuded confidence that the economic

slowdown will not continue and the country will bounce

back to the growth rate of 7 to 8 percent in next two to

three years.

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WEEKLY EQUITY NEWSLETTER

11TH MARCH 2013

MARKET UPDATE:-

Nifty up by 241 pts and

settle at 5945.70

Bank Nifty up by 682 pts at 12197.25

NIFTY WEEKLY PIVOTS

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MARKET ANALYSIS KEY BENCHMARK INDICES EDGED HIGHER IN THE WEEK ENDED FRIDAY, 8 MARCH 2013 AS WORLD

STOCKS ROSE ON BULLISH ECONOMIC DATA IN THE US AND CHINA, THE WORLD'S NO 1 AND 2 ECONOMIES. THE BAROMETER INDEX, THE 30-SHARE S&P BSE SENSEX, ATTAINED ITS HIGHEST CLOSING LEVEL IN

MORE THAN 4-1/2 WEEKS. THE 50-UNIT CNX NIFTY ATTAINED ITS HIGHEST CLOSING LEVEL IN MORE

THAN 4 WEEKS. INDIAN STOCKS GAINED IN FOUR OUT OF FIVE TRADING SESSIONS IN THE WEEK ENDED

FRIDAY, 8 MARCH 2013. THE BSE MID-CAP AND THE BSE SMALL-CAP INDICES UNDERPERFORMED THE

SENSEX DURING THE WEEK IN THE WEEK ENDED FRIDAY, 8 MARCH 2013, THE 30-SHARE S&P BSE SENSEX ADVANCED 764.71

POINTS OR 4.04% TO 19,683.23. THE 50-UNIT CNX NIFTY GAINED 226 POINTS OR 3.95% TO 5,945.70. FROM 30-SHARE SENSEX PACK, 27 STOCKS GAINED AND ONLY THREE OF THEM DECLINED IN THE WEEK

ENDED FRIDAY, 8 MARCH 2013 HINDUSTAN UNILEVER (DOWN 3.25%) AND NTPC (DOWN 0.43%) EDGED LOWER FROM THE SENSEX

PACK.CIPLA (UP 5.93%), DR REDDY'S LABORATORIES (UP 4.74%) AND HDFC (UP 4.55%) EDGED

HIGHER FROM THE SENSEX PACK. METAL STOCKS EDGED HIGHER AS GLOBAL COMMODITY PRICES ROSE. STERLITE INDUSTRIES (INDIA) (UP

8.37%) AND HINDALCO INDUSTRIES (UP 2.22%) GAINED.STEEL SHARES ROSE AFTER THE MINISTER OF

STEEL, MR. BENI PRASAD VERMA ON THURSDAY, 7 MARCH 2013, SAID THAT THE SUPREME COURT HAS

PERMITTED SOME MINES IN KARNATAKA TO REOPEN.

.

EXPERT OPINION

NIFTY BANK NIFTY

Nifty looks Bearish Bank Nifty looks Bearish

Strategy: Sell on rise Strategy: Sell on rise

Support:5900 Support: 12100

Resistance: 6000 Resistance: 12300

NIFTY WEEKLY PIVOTS

PIVOTS R4 R3 R2 R1 PP S1 S2 S3 S4

NIFTY 6720 6431 6142 6043 5853 5754 5564 5275 4986

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NIFTY WEEKLY CHART

WEEKLY BANK NIFTY CHART

.

GAINERS AND LOOSERS

WEEKLY NIFTY GAINERS

SCRIPS RATE VOL. (000) PR.

CLOSE

NET

CHANGE

% CHANGE

Jindal Steel 367.20 5516.29 347.35 19.85 5.71

IDFC 160.25 7378.75 153.90 6.35 4.13

HDFC 813.25 2909.91 782.05 31.20 3.99

BPCL 405.40 1648.55 390.65 14.75 3.78

Kotak Mahindra

675.30 1100.68 655.25 20.05 3.06

WEEKLY NIFTY LOOSERS

SCRIPS RATE VOL.

(000)

PR. CLOSE NET

CHANGE

% CHANGE

Hindustan Unilever

437.80 1620.89 452.80 -15.00 -3.31

Ambuja 187.40 1217.04 192.55 -5.15 -2.67

Bajaj Auto 2013.45 494.17 2028.30 -14.85 -0.73

NTPC 149.05 11395.92 150.05 -1.00 -0.67

ACC 1263.00 149.90 1267.40 -4.40 -0.35

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