Lackluster week

27-12-2010

Hi,

Wish you all happy earnings for the day.

Last week was important week, in which market was range bound with positive bias.

China has increased interest rates by 25 point basis, which may affect commodity prices particularly metals and steel. But it looks that Asia has ignored the effects of rate increment by china.

Global Indications:

USA – Europe Markets were closed on Friday, so we have no clues from USA- Europe at least. But if we see on weekly basis Nasdaq and S&P are trading at 2 years’ higher level since last 4-5 weeks.   

Today morning ASIAN markets are trading in greens except Hangseng. Nikki is up by 46, Kospi is up by 5 points and straits is up by 7 points.

Singapore Nifty was down up to 16.50 points, but at 8.00 am it has covered all it’s lost ground and is trading at previous close point.

Today’s Call

1.      Bajaj Hindustan looks very good above Rs. 120 for short term i.e. for 5-7 days. Current price of the share is Rs. 117.70, one can trade for 2 to 5% returns from present levels. In Medium term it may reach up to 140 levels if it is closed above Rs 121. SL is Rs. 113.

2.      Buy Siemens at Rs. 809.50. Target is 836 and SL is 790.  

Weekly Review

This week is very important week as it will be expiry week for December 2010 and also for the year 2010. Market was able to close above 6000 levels. If it crosses 6040 levels on closing basis than we may reach at recent highs of 6350 levels. But until we cross this level be cautious in trade. Please book profits at each rise. 

Please write your suggestions and ideas.

Thanks