Depreciating Ruppe and spike in oil price may further aggravate Indian Economy - Microsec

Indian markets may continue to remain volatile. Depreciating INR and spike in international price of oil may further aggravate the Indian economy, anticipating which investors may continue to prefer save haven like IT, Pharma, FMCG.

IIP data and Infosys results for Q1, 2013 are important events to watch. BUY RIL, TCS, Britannia, Swaraj Engines, Dabur.

We believe Nifty to hold 5550-5600 very strongly as Nifty earnings discounts FY14E EPS at 13times and FY15E EPS at 11.5 times.

Source : Equity Bulls

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