BREAKING OUT… FINALLY!
India, once again underperformed its global peers and declined by a percent while rest of the pack surged ahead for the second consecutive week.
Like in USA where new claims for unemployment hit 26 years high this week, in India as per the Labour ministry, 50 lakh Indians were rendered jobless between October to December 2008 amongst eight major sectors like textile and garment industry, metals and metal products, information technology and BPO, automobiles, gems & jewellery, transportation, construction and mining industries surveyed.
The indices are trading in a tight range of 200 nifty points for the last one month or 20 trading sessions. It seems ripe to break out of this narrow range on the higher side in the coming week. Hopes of $ 780 Bn package in USA has buoyed sentiments in markets there and its reverberations are likely to be felt in India next week. A close of 9400/2900 will open possibilities of 3050/10000 in weeks to come.
| Technical Picks for the Forthcoming Week |
| STOCK | RECOMMENDATION | CMP | STOP LOSS (Rs) | TARGETS (Rs) |
| JSW STEEL | BUY | 210.5 | 200 | 224 |
| FUNDAMENTAL CHECK |
| Company | Price | Report Type | Recommendation |
| 07.02.09 | & Target (Rs) | ||
| (Rs) | |||
| BHARAT HEAVY ELECTRICALS LTD. | 1365 | EARNING REVIEW | ACCUMULATE |
| BHARTI AIRTEL | 648 | EARNING REVIEW | NEUTRAL |
| HINDALCO | 44 | EARNING REVIEW | NEUTRAL |
| LARSEN & TOUBRO LTD. | 638 | EARNING REVIEW | ACCUMULATE |
| MARUTI SUZUKI INDIA LTD. | 579 | EARNING REVIEW | NEUTRAL |
| NALCO | 189 | EARNING REVIEW | UNDERPERFORMER |
| PHARMA SECTOR REVIEW | ~ | EARNING REVIEW | ~ |
| PUNJ LLOYD LTD. | 86 | EARNING REVIEW | AVOID |
| SIMPLEX INFRASTRUCTURES LTD. | 138 | EARNING REVIEW | OUTPERFORMER |
| SUZLON ENERGY LTD. | 44 | EARNING REVIEW | HOLD |
| STEEL SECTOR REVIEW | ~ | EARNING REVIEW | ~ |
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