Weekly Report, Outlook - Microsec

As expected, Indian market continues to trade range bound with mixed set of results for Sep-2012 quarter. However, towards the end of the week, TCS and ITC announced better than expected results which may confide further interest in the FMGC and IT sector. We maintain the trading range of 5600-5850 for the market and recommend to BUY around the lower levels of NIFTY. Results would give only stock specific volatility. The winter session of the Indian parliament is scheduled to start from early November 2012. If the measures taken by the Indian cabinet taken on the reforms are passed by the parliament, lot of structural changes may happen which may let the INR to appreciate sharply and Indian stock markets may rally higher. Among the leading results this week, Cairn India, L&T, BoB, Syndicate bank, HUL needs to be watched. F&O settlement is due on Thursday Oct 15, 2012. We recommend to buy Apollo Tyres, Tube Investment, IL&FS Infra, Maharashtra Seamless, GSK Consumer, Ranbaxy, Rallis India for investments.

Source : Equity Bulls

Keywords