The Markets failed to perform, partly due to the lukewarm performance by RIL and partly due to lack of cues from the global markets. The markets clearly lacked direction. The fall was further cushioned by Axis bank which corrected upto 4.5%, despite posting a net profit of 1020 cr for the quarter ending in March 2011 in comparison to Rs.765 cr in the same quarter a year ago, as it reported a fall in its Net Interest Margins (NIM), a measure used to determine a bank`s core earning capability.
However, we have still many heavyweights lined up for this week like Wipro, Ambuja Cements, BoB and ICICI Bank, which may set the course for the markets. On the global front we have, the US Federal Reserve`s rate setting meet (which is on Wednesday), which is again closely watched.
Following are the some technical picks,for the coming weeks.The trade details are mentioned in the individual thumbnails below. On a crucial note,the price targets would be sensitive to their respective quarterly outcomes and sharp broader market movements, so proper heed has to be paid to the Stop Loss mentioned.
Ambuja Cements :
Wipro:
Reliance Capital:
BPCL :
Kotak Mahindra Bank
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