Key benchmark indices closed more than 1% down after attaining all-time high in the previous week. Pressure of profit booking was witnessed at the top and Capital goods and Metal stocks beaten more. Buying support was witnessed in Pharma stocks and its BSE indices closed more than 2% up. Profit-booking by funds and retail investors at higher levels amid forecast of below normal rains dampened the trading sentiment during the week. A major near term trigger for the stock market is the outcome of the upcoming Lok Sabha elections. The results will be declared on 16 May 2014.
Techno- Funda Recommendation
Buy Marico Limited between 212 – CMP (217.40) with close below stop loss of 198 for the target of 265 ( Time Horizon :- 1-2 Months).