Weekly Review of the Market : 6th Jun to 10th Jun 2011

by khalid on 13/06/2011 · 0 comments

Passed Week ( 6th Jun to 10th Jun 2011 ) :-

Sensex was down 0.60% (108 points) to close at 18268 levels on a week-on-week basis. The week started on a positive note and closed in the green for first two days of the week but faced selling pressure for rest of the week to close the week marginally in the RED. During the week, FIIs were net sellers to the tune of 64 crore while domestic institutions were net buyers to the tune of 310 crore

The S&P CNX Nifty also closed in RED down by 30 points or 0.60% to close at 5486 levels on a week-on-week basis.

TCS, Cipla and Infosys Technology were the major index movers during trade last week, where as Hero Honda, Ambuja Cement, ONGC and State Bank of India were the major draggers during last week trade.

Coming Week ( 9th May to 13th May 2011 ) :-

Nifty is likely to remain choppy and volatile as long as the index prevails in the current trading band of 5450-5600 levels.

The key data to watch out for, in the coming week would be Wholesale Price Inflation Data for May on Tuesday 14th June 2011, advance tax numbers on Wednesday 15th June 2011 and monetary policy meeting on Thursday 16th 2011.

A sustained close below 5435 levels could see the index remaining under pressure and the key supports on the downside are placed around 5300-5330 levels.

If you want to play Nifty this week, go short at 5600-5620 levels and go long at the key support levels of 5330-5300 strictly followed by stop loss.

Stay tuned to BelltheBull Blog for more news on Indian share market !

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