Market outlook for week starting 29th Oct

Last week was a fantastic week for the Indian investors as sensex jumped up by nearly
10 % thereby recovering all loses of previous week.

Yesterday even Dow and Nasdaq ended 2.10 and 2.90 % higher respectively.

The rise in sensex was triggered by the following factors

a) Sebi’s meeting with FII’s giving them clear picture of PN notes unwinding and registration of pending sub accounts.
b) Expectations of a further cut in interest rate by the US Federal Reserve.
c) Strong results by sensex heavyweights like L&T, ONGC, SBI, ICICI Bank and Reliance Energy.

This week we expect the volatility to continue.
The markets momentum would be dependent on results of sensex stocks like BHEL, Bharti and HDFC.

Recommendations

Medium Term

Buy Tata Teleservices @ 40 with a target of 65.


Short Term

Buy Powergrid @135 with a target of 160.


We recommend a hold on our last weeks recommendation as both stocks have moved considerably on a positive side.

Happy Investing