The key benchmark indices closed negative in the second consecutive week due to selling pressure by FIIs. Banking and Realty stocks were beaten more and its BSE indices closed 3.42% and 6.49% down respectively. Going ahead, Q3 December 2013 results from some prominent companies, data on inflation based on the combined consumer price index (CPI) for urban and rural India and data on inflation based on the wholesale price index (WPI), both, for December 2013 will dictate near term trend on the domestic bourses. Trend in investment by foreign institutional investors, trend in other global emerging markets and the movement of rupee against the dollar hold key.
Techno- Funda Recommendation
Buy Dewan Housing Finance Corporation Limited between 206 – CMP (214.35) with close below stop loss of Rs 189 level for the target of Rs 275 ( Time Horizon :- 1-2 Months).