MARKETS AHEAD :

We can observe for the Nifty on the daily charts, that the markets has a strong support at 5600 levels. We can also notice that the markets have bounced back very strongly from the 5500 levels last week. But this bounce back has happened very quickly, as the markets should have consolidated for some more time in the 5500 levels. Also, the markets have gone up this week with average volumes, which indicates that there is some more consolidation left for our markets in the short term. Therefore, we can expect our markets to trade in a sideways range, between 5500-5700 levels for the short term.

Sectoral Indices:

BSE  REALTY (10626)

The BSE REALTY index has closed at 10626 levels this week, which is (8.62%) above its previous weeks close. We can also notice on the daily charts that we have a strong upside resistance at 10800 levels, which could be breached in the short term. Hence, we can now expect this index to move slightly higher to 10800 levels in the short term. We recommend a buy in  Omaxe Ltd. and HDIL in this sector.

BSE  METAL (17730)

The BSE METAL Sector has closed at 17730 levels this week, which is (6.85 %) above its previous week''s close. We can also notice on the daily charts that we have a strong upside resistance at 18000 levels, which could be tested in the short term. Hence, we can now expect this index to move slightly higher to 18000 levels in the short term. We recommend a buy in Ispat Inds. and  Jindal Stainless in this sector.

BSE  CONSUMER DURABLES  (5365)

The BSE CONSUMER DURABLES Sector has closed at 5365 levels this week, which is (5.18%) above its previous week''s close. We can also notice on the daily charts that we have a strong support at 5100 levels, which is unlikely to be tested in the short term. Hence, we expect this sector to move to in a sideways range, between 5400-5500 levels in the short term. We recommend a buy in Blue Star and Gitanjali Gems  in this sector.

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