Indian Equity Market Update

www.equitytrendz.com WEEKLY INDIAN EQUITY MARKET UPDATE AS ON 9th MARCH NIFTY - 2620 As mentioned in our last weekly update, Nifty fell down to 2540, taking support at 2550 level and then making a mild recovery. In the current week,expect upside resistance around 2660 / 2693 levels . Nifty will have to close above 2693 / 2765 levels to gain further momentum. During, the week expect weakness to emerge, once Nifty closes below 2557 levels. A close below 2557 level, can take it down to 2350 / 2150 level in march itself. Strategy remains sell on rallies to 2693 / 2765 levels.

EQUITY TRENDZ Alstom Projects (254) Buy with a stop loss of 240, for a target of 292 by friday 13th march.

Gujarat Ambuja Cem(67.3)  Recommended to buy last week, with a stop loss of 50, GACL, has moved up promisingly. GACL has a time & price target of 74 on or before tuesday 17th march. Buy with a stop loss at 60, for a target of 74 by 17th march and then 85 / 90.

  Jindal Steel (1000)  

Sell rallies to around 1025 levels - with stop loss at 1050, for a target of 950 / 890.

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  Noida Toll (21.25)  

Buy declines to 20.5 or on a breakout above 21.6, with a stop loss at 20, for a target of 25/27/31.

  Tata Motors (138.5)  

A rise above 145 on monday 9th march, would qualify as a breakout.It will then head for a target of 154 by thursday 12th march and later for higher targets of 162 / 172. If it is unable to rise above 145 on monday, then buy declines to around 134 - 132 levels with a stop loss at 130. Exit this stock on rallies to 162 / 172 levels.

  LONG TERM VALUE BUYS 

ICICI BANK (269) Long term investors can start accumulating,this banking major, in installments of 25%, around 230250 levels.

Punj LLoyd(70) This construction giant, with an order book of 22,000 crs, and a 100% growth in sales & net profit on yoy basis, can be gradually accumlated around these levels.

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