Market View: 13-17 May 2013

Filed in Market Update by on May 13, 2013 0 Comments
Week Market View: 13-17 May 2013
Market This Week Last week the markets closed on a positive note for the 4th consecutive week. This was mainly because of positive global outlook and good  buying from the FII’s (as can be seen in the table below). A few results to be announced this week, one of them is Dr Reddy’s. Note that we had recommended this stock sometime back. Though it has already rallied, this will be one stock to watch for. The close that we got last week was the highest so far in this year. The NIFTY has made a higher top now and it will continue to move up. Note that when it has to move two steps ahead, it also needs to move one step back. So expect a few corrections. The important support level to watch for is 5950. There could come a resistance at 6200. Overall we have a bullish trend intact for this week.
FII Inflow
Sr.No Reporting Date Net Investment (In Crores)
1 06-May-2013 1061.00
2 07-May-2013 919.80
3 08-May-2013  1095.50
4 09-May-2013 1049.20
5 10-May-2013 792.70

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