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 despite domestic and global negatives cues. India’s GDP for the fourth quarter at 5.30 percent which came lower than the most pessimistic estimates failed to take markets down sharply. The poorer than expected GDP growth may propel the RBI to cut rates further. Correction in global commodities prices led by Crude oil prices may help moderation in Inflation going forward. We expect Banking sector to remain in the limelight and post gains. INR may not fall further against the USD as RBI may aggressively intervene to prop up the INR against the USD. 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, Bosch India at current levels.
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
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CA. Rajesh Desai
RAJESH DESAI
Dear Sir/Madam,
Kindly find attached the Weekly Fundamental and Weekly Technical Reports.
OUTLOOK
As expected Indian markets continue to find value buying around 4800 levels. With a spate of events in the months of June-12, viz Indian IIP on June 12, 2012 and Inflation data on June 13, 2012 followed by Greece election on June 17, 2012, RBI Monetary Policy on June 17, 2012 and June 18, 2012 respectively. G-20 meeting is scheduled from 18-19 and FOMC meeting is from June 19-20. Indian market is likely to remain volatile. Nifty may trade between 11.8-13xFY13E EPS of 404 which makes a range of 4780-5250 for June 2012. BUY Hindustan Lever, Bharti Airtel, SBI, TCS, and Bajaj Auto, Exide on dips and M&M, Godrej Ind, Cummins India, Castrol and LIC housing with long term horizon.
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
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CA. Rajesh Desai