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 mentioned in our earlier reports, Indian market continues to hold crucial levels. Despite negative news flow we find key indices maintain its support as fundamentally most of the negatives are priced in into the stocks. At the current levels, Nifty is trading 13xFY13 earnings which is inexpensive. Strong liquidity flows usually sees re-rating of price to earnings multiples of stock and Indices as envisaged in earlier occasions. Similar trends may follow this time, despite the immediate macro fundamentals and political conditions remaining uncomforting. BUY Hindustan Lever, ACC, Tata Power, Cummins India with Investment perspectives and sugar stocks with trading perspectives.
Ø Exports-Imports data for February 2012 and PMI data for March 2012 (on 2nd April) and March Auto and Cement sales numbers will be in focus this week. In the US, the FOMC minutes (on 3rd April) are unlikely to unveil any major discussion about QE3 or extending Operation Twist. Rather the statement will be gleaned for any clues regarding the prospects of QE3.
Regards,
Team Microsec Research
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CA. Rajesh Desai