Weekly Market Pulse for 12 May 2014

Sensex closed at 22994.23, a rise of 590 points as compared to a fall of 284 points in the previous week. Sensex crossed the 23000 mark & made a new All Time high of 23048. Sensex is in strong uptrend and continue to be remaining in uptrend with higher volume and volatility. Most of the leading indicators are in overbought territory. CNX Banking Index broke decisively 52week high and closed at 13750 levels with large volume.

market graph 12 may 2014

 

Technical Levels

Support Levels

21480

21320

21000

Resistance Levels

Uncharted Territory

Uncharted Territory

Uncharted Territory

                                                           

Weekly FII Figures:

Buying

Selling

Net

Comments

14635.4 Cr

13090.50 Cr

1544.90 Cr

 FIIs were Net Buyers with good volumes

                                                                                                                            

Weekly Mutual Fund Figures:

Buying

Selling

Net

Comments

2164.90 Cr

1852 Cr

(312.90)**Cr

   MFs were Net sellers with bleak volumes

                                                                                                            **Data only available for 28 APR

Market Gossip/Rumours:

Trading recommendation for the week- L& T Finance Holding CMP- Rs65 Target Price- Rs73 Stoploss- Rs61

 

Market Outlook: 

Market is in strong uptrend. Be cautious before the event risk.

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Posted in Global News, Indian Market, Market Updates, Useful Articles
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