By Mr. A K Prabhakar, ANAND RATHI
* Ø NIFTY (5922), Nifty has made fancy high of 6111 on 29th January 2013 post which Nifty has been continuously correcting and made low of 2013.
Nifty in past 12 years rallied or / corrected depending on whether January, 2013 high or low is cut. In 2012 January high was cut while in 2013 Low is cut expect 6 to 8% correction from 5935 levels.
* Ø SENSEX - (19561) has almost seven pending gap-ups as Rally from December 2011 out of which few can be closed if Sensex does not cross 20205.
Sensex Weekly charts shows break-down from rising weekly channel & now support comes about 18265. Sensex has to cross 20430 for any fresh rally.
Sharesthat may be in lime light before budget are
Reliance capital, LIC Housing, GSFC, Emami, Navneet Publication, Everest Industries and GIC Housing.
Monthly Pick – Cummins India
Mr. A K Prabhakar
Senior Vice President - Equity Research
akprabhakar@bloomberg.net
Anand Rathi
4 th Floor , Silver Metropolis, Jaicoach Compound Opposite Bimbisar Nagar, Goregaon(East), Mumbai - 400 063. India
Tel No: +91 22 4001 3700, Direct: + 91 22 4001 3999, Fax No: +91 22 4001 3770, Website: www.rathi.com
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