The key benchmark indices attain new all-time high in a volatile trading week ended 11 Apr 2014. CNX Nifty able to touch the psychological level of 6800. Strong buying support witnessed in Power, Banking and Capital goods stocks. Going ahead, market may remain volatile in a truncated week. The next major trigger for the stock market is Q4 March 2014 and year ended 31 March 2014 (FY 2014) corporate earnings. Macroeconomic data, trend in investment by foreign institutional investors (FIIs), trend in global markets, trend in other global emerging markets, the movement of rupee against the dollar and crude oil price movement hold key.
Techno- Funda Recommendation
Buy Pidilite Industries Limited between 320 – CMP (328.20) with close below stop loss of 300 for the target of 392 ( Time Horizon :- 1-2 Months).