Weekly wrap : April 02, 2012
Nifty view for the week
Nifty appears to be bullish for the immediate term till the time it trades above 5200. We recommend a buy with a stop loss of 5200 for an upside till 5385 – 5400 range and higher.
Sector Trend reader
A sudden rise in BSE Sensex in last day of previous week revived the hopes of bulls. BSE Sensex was successful in giving close above its 200 EMA at 17,260 and now is expected to show upward movement till 18,000 in this month. However, in the volatility of past week, Investors remained long in defensive sectors like Healthcare and FMCG and all other sectoral indices remained sideways.
Due to a truncated trading week because of public holidays, we are not recommending any sector specific view as we expect range bound movement for BSE Sensex for the current week.