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WEEKLYSTOCKS REPORT
Bullish Undertone Remains Intact For The Fifth Consecutive Week !!
15th March 2010 to 20th Mar 2010
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R E S E A R C H
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Stocks Weekly Report15th March to 20th Mar 2010
WEEK WRAPThe benchmark Nifty closed on a flat note for the seventhconsecutive session, especially after three days rally on the
occasion of Budget 2010-11. It remained in a narrow range of
about 70 points and the Sensex about 200 points in these days.
The 30-share BSE Sensex closed at 17166.62, down 1.34 points
while the 50-share NSE Nifty rose just 3.6 points to 5137. Thebroader indices underperformed the benchmark indices; the BSEMidcap Index was down 0.23% and Smallcap down 0.45%.
Even the good Index of Industrial Production (IIP) data for themonth of January 2010 could not able to become a trigger for themarkets. IIP grew 16.7% as against 1% in January 2009. All the
sectors, except consumer non-durables, showed good growth.
ASIAN & EMERGING MARKETChina may be forced to bail out banks that made loans for local-government projects under the unprecedented stimulus programunleashed in 2008, according to Citigroup Inc. and NorthwesternUniversity's Victor Shih.
China's price increases are mild and controllable, AssistantCommerce Minister Fang Aiqin said today after data released thisweek showed inflation reached a 16-month high in February.
Asian stocks rose, driving the MSCI Asia Pacific Index higher for athird week, as better-than- estimated U.S. jobs data and easingconcern over Greece's debt spurred confidence in a globaleconomic recovery.
Asian currencies rallied this week, led by the Malaysian ringgit andSouth Korea's won, as improving economic data and reducedconcern about Greece's debt crisis spurred demand for regionalassets.
Japan's 10-year bonds fell, completing a second weekly decline,as Asian stocks joined a rally in global equities, damping demandfor the safety of debt.
WorldIndices
Sensex
Nifty
Shanghai Com.
CAC 40
FTSE
Nikkei
DOW Jones
17166.62
5137.00
3927.40
5625.65
10624.69
Close
10751.26
3013.41
Weekly ChgPoints
+172.13
+44.85
+16.98
+25.89
+382.30
-17.66
+58.49
% CHG
+1.00
0.88%
+0.40
+0.50
+3.70
-0.60
+0.60
NIFTY Properties
Weekly Open
Weekly Low
Weekly High
Weekly Close
Weekly Chg%
5092.15
5092.05
5158.10
5137.00
+44.85
Values
Weekly Chg Points 0.88%
MICRO ECONOMIC FRONTIndia's Finance Minister Pranab Mukherjee said on Friday thecountry will have to take steps for fiscal consolidation as it cannotlive on "borrowed resources".
India's economy could expand over 8.5 percent in the Marchquarter, the finance ministry's chief economic adviser KaushikBasu said on Friday.
India needs to improve its food grain management system andmodify the way it releases grain stocks, the finance ministry's chief
economic adviser Kaushik Basu said on Friday.
India's industrial output rose 16.7 percent in Januaryfrom a year earlier, slightly stronger than market expectations,aided by stimulus measures that boosted domestic demand, datashowed on Friday.
US MARKETAmerican International Group Inc. was unprepared for thefinancial crisis that forced the insurer to accept a $182.3 billionbailout from the U.S. government, the company's former generalcounsel said.The longest-ever gain in futures linked to the Standard & Poor's500 Index shows growing investor confidence in the U.S.economy.Treasury two-year notes dropped for a second consecutive weekas European Union officials said they would support Greece afterit approved austerity measures.Foreign investors boosted their holdings of U.S. municipal debt byabout 50 percent in 2009, to $60.6 billion, in the first year of salesof Build America Bonds, according to data from the FederalReserve.The dollar and yen fell versus all of their major counterparts asconcern eased Greece would default and European and U.S.reports signaled the economic recovery is accelerating, fuelingappetite for riskier assets.
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Stocks Weekly Report15th March to 20th Mar 2010
Sectorial IndicesIndices
BANK NIFTY
CNX NIFTY JUNIOR
S&P CNX 500
Open
10678.95
9102.15
High
10773.30
9230.00
10439.10
9073.50
Low Close
10508.85
9172.90
CN XIT
4308.70 4308.70 4234.70 4253.35
5843.45 5987.90 5843.45 5960.65
CNX MIDCAP
CNX 100
7651.15 7660.40 7464.70 7503.10
5071.75 5102.55 5039.85 5074.60
Gainers
Scrip
GKB Ophthalm
Orient Press
Sanwaria Agro
Current Close
109.30
39.25
66.90
22.20
Change Chg %
65.58%
76.80%
49.95 34.60 44.36%
Maha Scooter 331.80 240.10 38.19%
Losers
DIIs Investments
08-MAR-2010
09-MAR-2010
Indices
OCL Iron 40.60 29.90 35.78%
FIIs Investments
Scrip
Zenith
AML Steel
Geminicommun
Current Close
45.40
20.25
61.55
30.20
Change Chg %
-26.23%
-32.94%
30.25 37.10 -18.46%
Thinksoft GL 221.05 266.60 -17.08%
NMDC 361.20 435.00 -16.96%
Buy Value Sell Value Net Value
Indices Buy Value Sell Value Net Value
719.30 692.60 26.70
796.80 997.50 -200.60
11-MAR-2010
12-MAR-2010
10-MAR-2010
09-MAR-2010
2302.80 1856.00 446.80
2716.70 2298.60 418.10
3730.10 1959.90 1770.20
4461.30 2201.80 2259.50
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R E S E A R C H
WEEK AHEAD
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Figure: 1 Nifty Weekly
TECHNICALS
NIFTY MADE THE NEW HIGH TODAY AND ALSO MADE THEGOOD CLOSING.NIFTY CONTINUOUSLY HOLDING THECRUCIAL SUPPORT LEVEL OF 5090 TO 5100, UNTIL ITCLOSE BELOW IT WE COULD NOT EXPECT MUCHCORRECTION IN IT. IN UPSIDE THE SHORT TERMRESISTANCE IS SEEMS TO BE AT THE RANGE OF 5175 TO5180. CLOSING ABOVE COULD TAKE IT THE NIFTY FUTURETILL 5230. THE VITAL RESISTANCE ZONE IS SEEMS TO BE ATTHE LEVEL OF 5300 TO 5305.
Properties
Support 1 5090
4990
5230
5305
Values
Support 2
Resistance 1
Resistance 2
Spot Nifty
Stocks Weekly Report15th March to 20th Mar 2010
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WEEK AHEAD
Bank Nifty
TECHNICALS
BANK NIFTY HAS MADE THE GOOD UPSIDE BREAKOUTABOVE 9200 BUT DID NOT MADE THE CLOSING ABOVEAND ALSO NOT GETTING THE VOLUME ACCUMULATIONAT HIGHER LEVELS. IN IT AS WE HAD DISCUSSED THAT ITCOULD BE IN UPSIDE CONSOLIDATION FOR THE WEEK ITHAPPENS. NOW IN THIS WEEK WE RECOMMEND SELL ONHIGHER LEVELS IN BANK NIFTY FUTURE. IT MIGHT FACETHE RESISTANCE AT HIGHER LEVELS AND COULD BE IN THERANGE OF 9095 TO 9345. ABOVE 9345 WE COULDEXPECT THE TARGET OF 94440 IN IT. THE GOOD SUPPORTBASE IS SEEMS TO BE AT THE LEVEL OF 8990 TO 9000 FORIT.
Properties
Support 1 9095
8910
9345
9450
Values
Support 2
Resistance 1
Resistance 2
Stocks Weekly Report15th March to 20th Mar 2010
Figure: 1 Bank Nifty Weekly
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STOCK OF THE WEEK
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Company Name
Price
Change
Volume
52 Week High
% From High
Day High
% of DAV
EPS
Stocks Weekly Report15th March to 20th Mar 2010
BUY
ALLAHABAD
BANK
Symbol
ALLAHABAD BANK
ALBK (NSE)
Rs. 145.70
Rs. 3.45
1923716
147.80
-0.27%
147.40
142%
27.89
Complete Details
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CAN SLIM is a formula created byWilliam J. O'Neil, who is the founder ofthe Investor's Business Daily and authorof the book How to Make Money inStocks - A Winning System in GoodTimes or Bad.
Each letter in CAN SLIM stands for oneof the seven chief characteristics thatare commonly found in the greatestwinning stocks. The C-A-N-S-L-I-M.
characteristics are often present prior to
a stock making a significant rise in price,and making huge profits for theshareholders!
O'Neil explains how he conducted anintensive study of 500 of the biggestwinners in the stock market from 1953to 1990. A model of each of thesecompanies was built and studied. Againand again, it was noticed that almost allof the biggest stock market winnershad very similar characteristics justbefore they began their big moves.
KEY STATISTICS
WHY CAN SLIM?
C Current Quarter Earning per Share. The Higher The Better.Primary Factors Jumped almost 3.53% increase
from previous Quarter Earnings.
Source: sihl.in
A Annual Earnings Increases: Look for a significant growth.Primary Factors Annual Earnings showed a nominal
decline of -21.5% YoY.
N New Products, New Management, New Highs, Buying atRight Time.
Primary Factors ALLAHABAD BANK is good to its52 week high and chances tohave a good breakout.
S Supply and Demand: Shares Outstanding Plus Big VolumeDemand.
Primary Factors ALLAHABAD BANK a mid cap stockconsisting of Rs. 600 crores SharesOutstanding.(Total Public Shareholding)
L Leader or Laggard: Which is your stock?Primary Factors ALLAHABAD BANK a leading stock
with a relative strength above 63%in Weekly and 67% in Daily.
I Institutional Sponsorship: Follow the Leaders.
Primary Factors Approximately 28.3% Share heldby the Institutional Investors (FIIs,Mutual Funds.)
M Market Direction
Primary Factors If Market continues to remain in asecular uptrend, hence overallconditions are appropriate toinitiate long position in the stock:A Big plus for the Stock.
Stocks Weekly Report15th March to 20th Mar 2010
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Stock
Technical Picture
TECHNICALS
STOCK IS LOOKING TO MAKE THE MORE UPMOVES FROMHERE AND ABOVE 148 IT IS LOOKING GOOD ONE FORLONG SIDE. TECHNICAL INDICATORS ARE ALSOSUGGESTING THE POSITIVE STRENGTH IN STOCK. WERECOMMEND LONG POSITION IN STOCK ABOVE THELEVEL OF 148 FOR THE TG OF 152/156. THE GOODSUPPORT BASE RANGE IS SEEMS TO BE AT 138 TO 140.
ALLAHABAD BANK
140Support
Indices
Stocks Weekly Report15th March to 20th Mar 2010
148Resistant
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Stocks Weekly Report15th March to 20th Mar 2010