Microsec: Weekly Market Report, Outlook and Technical Report...

[RAJESH DESAI]

 

Dear Sir/Madam,

 

Kindly find attached the Weekly Fundamental and  Weekly Technical Reports.

 

OUTLOOK

 

As expected, Nifty took a strong support around 4800 levels and bounced back helped by better than expected results from SBI which led to buying across the board in Banking shares. The decline in crude oil prices in the international market is a reason to cheer but the impact of the same remain negated due to depreciating INR VS USD, which fell to 54.50 towards the weekend trading. The week ahead may see some heady actions from the government and RBI to contain the free fall of the INR. On the global front, market will continue to watch developments in euro-zone. Greece's inability to form a Government, which led to the country calling another election in June, has raised concerns about its ongoing membership of the euro zone and the health of the European economy. Greece has put a senior judge in charge of an emergency government to lead the nation to its second election in just over a month on June 17, which will likely determine whether it remains in the common currency area.

 

We continue to hold on to our view that Nifty may find strong support at 4800 levels as it trades at 12XFY13 EPS which is inexpensive. Also, we expect inflation to cool down more than expected on a host of factors which may act trigger for the market in the days to come. Hence we recommend investors to BUY SBI, LT, Bharti Airtel, Infosys, TCS, Tata Steel, Exide Industries, Indian Hotels, Cummins India and Blue Star at current levels

 

Regards,

 

Team Microsec Research

 

 

 

Microsec Capital Limited

Tel: 91 33 30512100

Fax: 91 33 30512020

 

--
CA. Rajesh Desai