Saturday, April 28, 2012

Market become rangebound after S&P downgrade.

Last week rating agency S&P downgraded India's rating negative from stable. BBB- is new rating for India. This news was bad news for market. Market collapsed by 50 point as immediate effect on announcement. After news market again recovered from intra day low to close 20 points lower. This was not big loss for market. Market had digested this news. There are global markets are good for Wednesday on which this announcement is done. Now market is range bound for more than 3 days. Result session is not giving positive. There should be neutral cue for market now. Some most interesting points for market in this flat market.
  • ITC had made all time high 252. This stock is outperforming market. This stock become most influential stock in  index itself.
  • Hindustan Unilever is another stock which had made all time high in this market. This is story of FMCG space. 
  • Bharti Aritel is stock which had underperformed market. This stock had made low of 288 in this market.
  • BHEL that is Bharat Heavy Electrical Limited is broken down at lower level that had made previously. This stock touched to 230 and lower level. 
  • HDFC Bank is one stock which is making good and outperforming market and banking space. 
This are some main points of market in last weeks. Further discuss some stocks which are good for long term short term. Some technicals are also discuss here. Any viewer want to suggest he will always welcome. Post suggestion here.