Weekly Nifty Trend :-
Last week market was down for last two days which was not expected
Looks like Nifty should find support around 5520-5450. The last attempt towards 5800-5850 failed to make new highs gives a signal for more sideways period to come. This is the 4th attempt at the trendline and a dip below it can be possibly be a trap. The medium term trend remains with a re-test of breakout.
Expected Range of Nifty for Week : 5450 - 5710.
Expert's Recommendations :-
1) For completing budget target, govt. will release IPO for 10 PSU stocks.
2) GAAR Final report and FDI report with changes will be released by Govt any time.
3) Winter session of parliament begins from 22nd November and govt. will pass Company bill, Pension bill and Banking law amendment.
4) RBI has guided for interest rate cut in January 2013. It is positive for interest sensitive sectors like Banking, Auto, Infrastructure, Realty and Capital Goods.
WE Suggest to buy low valued stocks of BSE/NSE Good stocks are L & T, Tata Motors, Tata Global, Tata Steel, SBI, ICICI, Maruti, LNG Petro and M&M.
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