Weekly equity-report by epic research 11 march 2013
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Transcript of Weekly equity-report by epic research 11 march 2013
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
Economy to bounce back to 8% growth rate by
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
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WEEKLY EQUITY NEWSLETTER
11TH MARCH 2013
Nifty up by 241 pts and
settle at 5945.70
Bank Nifty up by 682 pts at 12197.25
NIFTY WEEKLY PIVOTS
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.
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
NIFTY WEEKLY CHART
WEEKLY BANK NIFTY CHART
GAINERS AND LOOSERS
WEEKLY NIFTY GAINERS
SCRIPS RATE VOL. (000) PR.
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
675.30 1100.68 655.25 20.05 3.06
WEEKLY NIFTY LOOSERS
SCRIPS RATE VOL.
PR. CLOSE NET
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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