WEEKLY MARKET REPORT FOR TRADERS AND INVESTORS

Friends,
                The trading week ahead is going to be short and Futures & Options expiry is also there. We may give a close above 17500, BUT still believe to book profits and keep cash on hand.
                 On 23/12/2009 without much news Sensex rise nearly 550 points and rising towards our major resistance of 17500. At this point of time we have no major news to watch out and having too short week and F&O expiry Sensex may give close above magical figure of 17500 but we don’t consider this as a confirmed buy signal and we continue maintaining our exit strategy and waiting to give concrete signal to go long.
             Many time speculative money or news drive the market above /below support or resistance levels and thereafter it fails to hold there and reverse the directions.
At this juncture we advise to book profit and you can join our PMS Service and get 8 multi-bagger stocks to invest in it, we at MEGHA INVESTMENTS will guide you when to enter above the clear breakout or on down side so you can get maximum benefit by minimizing risks.


FUNDAMENTAL STOCK PICK
KSB PUMPS
CMP 430, Target 650.
Capex programme on power ,oil and gas segment will boost the demand of co’s products.
Co’s growth is dependent on India growth story not on global growth story. This means lesser and lesser dependence on global demand and immunity from international recession or crisis.


MUTUAL FUND PICK
HDFC Growth Fund: Avoid.
Reason: Despite having 9 years of existence in the market fund fails to give impressive and consistence returns.


WEEKLY MARKET OUTLOOK
Support at 5110-5050.
Resistance at 5350-5400.
Last time buy signal give above 5095 with target of 5180 and 5200 which clearly hit hope u have enjoyed it.
This time due to short week and F&O expiry we don’t recommend any buy or sell strategy!


TECHNICAL STOCK PICKS
Buy SUZLON stop loss 83 target 94/96.
Buy REI AGRO stop loss 44 target 55/57.
Buy MAX INDIA stop loss210 target 238/248.
Buy SHREE ASHT VINAYAK stop loss 67 target 86/90.


GLOBAL MARKET CHECK
DOW JONES
Last time support given at 10230 it make low of 10260 and rise nearly 300 points.


HENG SENG
Last time support given at 20900 it make low of 20932 and rise nearly 500 points.


FTSE
Last time support given at 5100-it makes low of 5196 and rise nearly 400 points.


KEY NEWS TO WATCH OUT
There is no meaningful key news to watch out.


Disclosures:we may have vested interested in above weekly report for more read the disclosures and disclaimers at our web-sites.