The markets have declined in the week ended Friday, 30 May 2014, on profit booking after logging gains in prior three weeks. The Sensex logged decline in three out of five trading sessions in the week gone by. The S&P BSE Mid-Cap index fell 2.32%, underperforming the Sensex. The S&P BSE Small-Cap index declined 1.23%, outperforming the Sensex. Going ahead, the outcome of the Reserve Bank of India's (RBI) monetary policy review and the result of the monthly surveys on India's manufacturing and services sector for May 2014 will dictate the trend on the bourses next week. Shares of automobile companies will also be in focus as auto companies start unveiling monthly sales volume data for May 2014 from Sunday, 1 June 2014.
Techno- Funda Recommendation
Though the prevailing trend of benchmark index is up in our technical trend sheet of our daily newsletter but considering the present market situation and already running positions, we are not initiating fresh recommendation this week. For pending recommendations, we have updated all the relevant information.