March 2013

MY WEEKLY TAKE ......

Trading levels  ---  4th / 8th  March  2013

So, We had 5th straight down week and a biggest one than the previous 4.

Italian elections did not give a clear verdict and the expense cuts in US have kicked in after the negotiations on sequester failed on 28th February night.

Our FM had the golden chance to have his name written in golden letters in the Indian economic history – like that of Mr Manmohansingh   for his 1991 budget.  However that opportunity was wasted as FM presented a very pedestrian budget similar to any household budget  an every  housewife  makes for monthly expenses.

There is nothing in the budget for Common Man / Industry / Banks / Metals / Mining  or Infrastructure. No wonder the market is sulking and all sector indices except IT are in the RED.

I am sure that the rating agencies like S&P / MOODYS / FITCH will see thru this game of arithmetical jugglery and their views will not become positive from negative.

We are again at the mercy of FIIs and our further couse will be charted by their Moneyflow.

Please have a look at list of stocks from BSE A group which are currently in short / medium term downtrend.

ALLAHABAD BANK
AUROBINDO PHARMA
CAIRN INDIA
DENA BANK
HDFC BANK
HINDALCO INDS
IDBI BANK
IDFC
MAHINDRA & MAHINDRA FINANCIAL SERVICES
MMTC
PANTALOON RETAIL
PETRONET LNG
RELIANCE CAPITAL
RELIANCE POWER
SESA GOA
SIEMENS LTD
STATE BANK
STERLITE INDS
SYNDICATE BANK
TATA STEEL

My monthly trading levels are out and paid members have them. At 3,000 rupees a year, they provide tremendous value for money proposition.