Market Last Week Round up

Indian stock market has become too volatile now a days, moreover global markets are guiding Nifty and Sensex now days. As mentioned last week that Nifty and Sensex are resting in consolidation phase with bit of negative indications as in short term and market unfolded in same way as expected.

Market has declined in all the five trading sessions in the week as mentioned last week that rising inflation and crude oil price can hamper sentiments of market so it did. The corporate results announced till now are more or less as per market expectations.

MARKET STATS
Group	25-04-08	02-05-08	09-05-08
Sensex	17125.98	17600.12	17737
Nifty	5111.70	5228.20	4982
Weekly Inflation (%)	7.33	7.57	7.61

STRATEGY FOR NEXT WEEK

 In coming week market will be guided by the global markets. The key data which the market will be eyeing at the start of the week is Industrial production data for March 2008 which will come our on 12 May 08. Major issues are again rising crude oil price and Inflation rate.

Technically market looking bit more week and is expected to come down in coming days bit more. But global markets will be the guiding force for our Nifty and Sensex now.

 

SENSEX major SUPPORT are 16610-15750 and RESISTANCE are 17200-17400.

NIFTY major SUPPORT are 4900-4750 and RESISTANCE are 5080-5120.

 

!!!Stay away and don't any long positions. !!!

Best Sectors for the week

Best Stocks for the Medium term

1. Rpower

2. Geojit

3. Dish Tv