The weekly market report summarizes the performance of key indices and stocks from August 4th to August 8th. The Sensex and Nifty fell more than 2.5% due to weak global cues. Tech Mahindra dipped after weak quarterly results, while Maruti gained 2% on strong July sales. JSW Steel's quarterly net income was Rs 656.5 crore. The report provides support and resistance levels for the Nifty, and notes that the correction may continue next week with key support at 7440. It recommends watching the RBI monetary policy and provides buy/sell recommendations and calls for specific stocks.

1. 04 August – 08 August 2014
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MARKET GOSSI PS
Sensex, Nifty slumps more than
2.5% on weak global cues.
Tech Mahindra dips after declared
weak Quarterly results.
Maruti gains 2% after post July sales
figure.
Bharti Airtel, Idea gains as much as
on tariff hike plan.
JSW steel Q1 net income stood at Rs
656.5 crore.

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Support & Resistance
CLOSE S2 S1 CRUCIAL POINT R1 R2
7622.60 7440 7530 7440 7750 7850
NI FTY WEEKLY

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Weekly market view
Markets were in downtrend last week mainly hit by global concerns which
made the key indices to close 2.5% down. Nifty future found reversal from
the trendline on weekly charts as shown in the chart above and dragged
below the major support of 7700. This correction may continue in the
coming week and now crucial support is seen near 7440. For up move and
to again gain strength it needs to close above 7700 which can be an
indication to lead towards resistance range of 7750-7800. Key event to be
watched is RBI Monetary Policy.

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DATE
FII
(Figures are in Rs. cr.)
DII
(Figures are in Rs. cr.)
28-JULY-14 75.04 55.91
29-JULY-14 _ _
30-JULY-14 -381.66 515.65
31-JULY-14 -1654.86 1420.36
01-AUG-14 -1072.96 1074.70
Indices Change
INDEX VALUE PTS %
SENSEX 25480 -646 -2.53
NIFTY 7602 -188 -2.47
BANK NIFTY 15127 -195 -1.28
INDIA VIX 15.22 1.00 6.57
Top Nifty Losers ( Weekly)
Scrip Price P. Close %
IPCA LAB 730.00 838.00 12.89
L&T 1471.95 1654.85 11.05
MMTC 74.15 83.35 11.04
JP POWER 18.50
20.65 10.41
JPASSOCIATE 59.55 66.00 9.77
Top Nifty Gainers (Weekly)
Scrip Price P.
Close
%
GLENMARK 677.75 591.65 14.55
BRITANNIA 1154.3 1042.0 10.78
HUL 693.85 632.50 9.70
MARICO LTD 261.55 240.65 8.68
GMR INFRA 28.70 26.45 8.51
STOCK BUY/SELL COMMENTS
BHARATFORGE(EQ) BUY ABOVE 738 TARGETS 758-778 SL 708.
IGL(FUT) BUY ABOVE 385 TARGETS 395-405 SL 371.
LAST UPDATE CIPLA(EQ) BUY CALL 1ST
TARGET ACHIEVED.
LAST UPDATE TATASTEEL EQ BUY CALL NOT EXECUTED.
MARKET WATCHMARKET WATCH
CALLS OF THE WEEK

6. ICICIBANK FUT SUSTAINED NEAR THE RESISTANCE OF 1515 SINCE LAST FEW
SESSIONS ABOVE WHICH IT MAY SHOW POSITIVE MOMENTUM.
BUY ABOVE 1515 TARGETS 1560/1610. MAINTAIN SL OF 1445.
NIFTY FUT.
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TECHNICAL VIEW
WEEKLY PICK

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