The key benchmark indices able to close positive on week ended Sept 06, 2013. Market jumped on Thursday and the rupee rose against the dollar after the new RBI Governor Dr. Raghuram Rajan announced plans on Wednesday to bolster the financial industry and stabilize the rupee. Firmness in global markets also boosted sentiment. Banks were the major gainers for the week and BSE bank index closed 10% up. Going ahead, the movement of rupee and crude oil prices, trend in investment by FIIs, data on industrial production for July 2013, data on inflation based the consumer price index for August 2013 and US job data for August 2013 will dictate trend on the bourses.
Techno- Funda Recommendation
Buy Cairn India Limited between 325 – CMP (332.30) with close below stop loss of Rs 314 level for the target of Rs 375 ( Time Horizon :- 1-2 Months)