1. Relative to Sensex...
Sector Analysis: Relative Strength Performance
www.iventures.inFueling Your Aspirations
Top Sectors for the Week Monday
01st July, 2013
BSE Auto Index Neutral
BSE Banks Index Neutral
BSE Capital Goods Index Underperformer
BSE FMCG Index Outperformer
BSE Metals Index Underperformer

2. From Iventures Research Desk…
www.iventures.inFueling Your Aspirations
Top Sectors for the Week
Sensex: 19395: Sensex snapped three weeks losing streak and did close above the psychological 19000 mark in the week passed by, helped by
some aggressive short covering in the F&O segment, reform announcement in the Oil & Gas sector, and also on back of strength in Rupee. Current
Account Deficit for the fourth quarter of last financial year also boosted investors’ confidence.
Last week, the Sensex lost in two out of the five trading sessions, ending up 3.31% for the week. For the month of April 2013, the benchmark index was
up 3.55%. For the month of May, it ended with gains of 1.31% and for June 2013, it ended in red, down 1.84%. Year to date, Sensex is now down just
0.16%.
Among the 13 sectoral indices, BSE Consumer Durables index fell the most, down 5.98% while BSE Oil & Gas index and BSE IT index were star
performers, gaining 6.59% and 4.06% respectively.
The top four major gainers for last week – RIL up by 8.80%, GAIL up by 8.17%, ONGC up by 7.59% and HDFC up by 7.11%. The top three losers of the
week were – Ranbaxy fell by 11.15%, JP Associate fell by 7.03% and IDFC down by 6.00%.
Meanwhile on international front, Wall Street rose during the second quarter, but ended June with losses as investors started to come to terms with the
potential slowdown in the Federal Reserve’s monetary stimulus.
Week Ahead: This week promises to be an action packed one as investors will eye the monthly sales numbers of auto and cement companies. Also
in focus would be June manufacturing and services PMI data. In the international front, ECB meet on interest rates will command investors’ attention.
Investors will be looking for signs of sustained strength in U.S. labor markets this week when the government releases its June jobs report.
Traders are likely to keep a close eye on the movement of USD/INR. Any further strength in USD/INR may gain result in resumption of downward trend
in our equity markets.
We expect the markets to continue to be in distribution pattern mode with key supports placed at recent low at 18500 zone. Below 18500, there is little
support to note until 18100 mark (April 2013 low). The big picture however continues to be positive as long as 18000 psychological support zone is
held. Hurdles now at 19750 mark.
Buying on excessive weakness should be the preferred trading strategy for the week.
Among BSE sectoral indices, BSE Capital Goods is expected to underperform in the near future. The other indices likely to underperform are BSE Metal
and BSE Power index. This week, our most preferred pair strategy is: Long Tata Steel & Short Steel Authority.

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Top Sectors for the Week
BSE Auto Index vs Sensex
• BSE AUTO: 10,715: Neutral
• Absolute Charts:
• A) The index has taken support at the mentioned level of
10350. We would maintain neutral/positive bias on the index as
long as the mentioned support levels at 10300 levels are held.
Hurdles remain at 11000 zone and then major hurdles seen at
11500 zone. Only above 11500 will the upside momentum
start.
B) This week, aggressive traders can look to buy on early dips
with strict stop loss below 10300 zone, targeting 10900-11000
zone.
• Relative Charts: BSE Auto Index has been an
outperformer since early April 2013 and going forward in
the short term, we expect the auto index to be neutral relative
to the Sensex. However, in the medium term, we expect the
Auto Index to outperform the benchmark Sensex.
• Outperforming Stocks – Bajaj Auto, Mahindra & Mahindra,
Mother Sumi, Eicher Motors, Tata Motors, Maruti
• Underperforming Stocks – Ashok Leyland, Exide
Industries, Hero MotoCorp.
PAIR Strategy: Long M & M and Short TATA MOTORS

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Top Sectors for the Week
BSE Banks Index vs Sensex
• BSE BANKS: 13,257: Neutral
• Absolute Charts:
• A) The interweek outlook shifts to neutral as the index is now
trading at oversold zone on the short term charts; hence a
pullback is most likely. Key supports are placed at recent low at
12600. Any up move is likely to be capped at 13600-13650
zone.
• B) For this week, Buying on any excessive dips should be the
preferred trading strategy.
• Relative Charts: BSE Banks Index is outperforming Sensex
since June 2009. Going forward, in the short term we expect
the index to mildly underperform the benchmark index.
However, in the medium term, we expect the index to continue
its outperformance the benchmark Sensex.
• Outperforming Stocks – Yes Bank, HDFC Bank, ICICI Bank,
Indusind Bank, Kotak Bank, Syndicate bank.
• Underperforming Stocks – Andhra Bank, Bank of India,
Federal Bank, Indian Bank, Oriental Bank of Commerce, SBI
PAIR Strategy: Long YES BANK and Short STATE BANK OF INDIA.

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Top Sectors for the Week
BSE Capital Goods Index vs Sensex
• BSE CAPITAL GOODS INDEX: 9,111: Underperformer
• Absolute Charts:
• A) The interweek outlook after recent declines remains
neutral/negative. The momentum oscillators continue to be on
sell mode on the short term charts; hence some more
corrective declines likely. Key support levels at 8700-8750
zone. Hurdles are at 9350-9450 zone.
• B) Selling on excessive strength near 9300-9300 zone should
be the preferred trading strategy for the week.
• Relative Charts: BSE Capital Goods Index is
underperforming Sensex since June 2007. Going forward, in
the short term and in medium term, the index is likely to
continue its underperformance relative to the benchmark
Sensex.
• Outperforming Stocks – ABB, Bharat Electric (BEL), FAG
Bearings, Havells India, Larsen, Thermax
• Underperforming Stocks – BEML, Crompton Greaves, Praj
Industries, Jindal Saw, Suzlon Energy, Welcorp.
PAIR Strategy: Long HAVELLS INDIA and Short
CROMPTON GREAVES..

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Top Sectors for the Week
BSE FMCG Index vs Sensex
• BSE FMCG INDEX: 6,458 : Neutral
• Absolute Charts:
• A) The intermonth outlook is negative and selling on any
strength should be the preferred trading strategy. Any up move
is likely to be capped at 6700-6750 zone. Downside risk
remains at 6265-6300 zone.
• B) Lightening long positions on any strength near 6600-6650
zone should be the preferred trading strategy for the week
• Relative Charts: BSE FMCG Index has been outperforming
severely since January 2013. Going forward, in the near term,
we expect the index to mildly underperform relative to the
benchmark.
• Outperforming Stocks – Dabur, Hindustan Unilever, Godrej
Consumers, ITC, Tata Global, Britannia
• Underperforming Stocks– Jubilant Foods, Mc Dowell,
Nestle
PAIR Strategy: Long GODREJ CONSUMER and
Short JUBILANT FOODS

7. www.iventures.inFueling Your Aspirations
Top Sectors for the Week
BSE Metal vs Sensex
• BSE METAL INDEX: 7,753 : Underperformer
• Absolute Charts:
• A) Negative bias to continue to Bse Metal index as the index has
signaled a break down below a lower consolidation zone on the
weekly charts. Downside risk now at 7400-7500 zone.
Immediate hurdles continue to be at 8000-8100.
• B) Selling on strength should be the preferred trading strategy
for the week.
• Relative Charts: BSE Metal Index has been underperforming
since March 2010. Going forward, in the near to medium term,
we expect the index to remain an underperformer relative to
the benchmark Sensex.
• Outperforming Stocks – Tata Steel, JSW Steel, Bhushan
Steel.
• Underperforming Stocks– Jindal Steel, Steel Authority,
Sesa Goa, Sterlite
PAIR Strategy: Long TATA STEEL and Short SAIL

8. Top Sectors for the Week is a Technical and Macro report containing everything you
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enter or exit an outperforming or underperforming sector using the relative strength
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Top Sectors for the Week
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