Indian market continued with upswing for the second week aided by strong FIIs inflow. Sensex and Nifty ruled above 19,400 and 5,800 mark respectively on buying spree seen in index pivotal. Nevertheless, the fundamental worries relating to inflation and interest rates still continue. Sectorally, BSE Realty, Consumer durable, Auto and Metal led the rally.

The 30 share index, Sensex ascended 604.75 points, or 3.21% to 19,420.39 in the week ended April 01. On the other hand, the broad based NSE Nifty surged 171.8 points, or 3.04% to 5,826.05 in the same period.

Mid-cap index gained by 261.38 points, or 3.89% to 6,982.94 in the week. Small-cap index too climbed 356.56 points, or 4.46% to 8,358.19 during the week.

All sectoral indices embraced the week with sharp gains. Key gainers were BSE Realty (7.15%), Consumer durable (5.97%), Auto (5.74%), Power (3.30%), Metal (3.18%), Teck (3.09%), FMCG (2.92%), IT (2.72%), Capital goods (2.51%), PSU (2.5%), Bankex (2.04%), Oil & gas (2.01%) and Healthcare (1.58%).

The Indian indices Sensex and Nifty dropped over 1% during the week after a surge last week. Financial markets got hammered amid increasing concerns about global growth derailment, continued Libya fear and Japan quake. Further disappointing macroeconomic data, together with Moody`s downgrade to Spain`s credit rating, posed further threats to market confidence.   However, the bulls chose to ignore the positive domestic economic data like the better than estimated IIP numbers, strong exports and sharp fall in food inflation.

The 30 share index, Sensex plunged 312.36 points, or 1.69% to 18,174.09 in the week ended March 11. On the other hand, the broad based NSE Nifty dropped 93.3 points, or 1.68% to 5,445.45 in the same period.

Mid-cap index declined by 62.84 points, or 0.95% to 6,529.28 in the week. Small-cap index too dipped 99.18 points, or 1.24% to 7,899.81 during the week.

Key losers over the week were BSE Capital goods (3.03%), Metal (2.9%), Bankex (2.02%), Auto (1.7%), Power (1.6%), IT (1.28%), Teck (1.14%), Healthcare (1.07%), PSU (0.64%), Consumer Durable (0.49%) and FMCG (0.48%) during the week. However BSE Realty and Oil & gas gained 1.26% and 0.72% respectively over the week.

Industrial growth for the month of January, 2011 stood at 3.7% compared to 16.8% expansion in the year-ago period, dragged down by the poor performance of the manufacturing sector, particularly capital goods.

Food inflation declined to single digit after nearly 3 months helped by fall in prices of potatoes, pulses and wheat. It fell to 9.52% for the week ended February 26 from 10.39% last week. Meanwhile, primary inflation dropped 13.96% for the week ended February 26 from 14.85% previous week.

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Enrich Industries Ltd
Today's condition     29.15  +4.85  (19.9%)
Details         Technicals for 08-03-2011
Open 29.15                 Resistance 3 32.01
Last close 24.30          Resistance 2 30.58
Today's high 29.15      Resistance 1 29.86
Today's low 27.00       PP (Pivot Point) 28.43
Volume 14,143           Support 1 27.71
52-Week high 24.30    Support 2 26.28
52-Week low 5.99       Support 3 25.56




Shree Bhawani Paper Mills Ltd
Today's condition     9.49     +1.49     (18.6%)
Details            Technicals for 08-03-2011
Open 9.49                 Resistance 3 9.502
Last close 8.00          Resistance 2 9.496
Today's high 9.49      Resistance 1 9.492
Today's low 9.48       PP (Pivot Point) 9.486
Volume 9,001           Support 1 9.482
52-Week high 11.00  Support 2 9.476
52-Week low 5.23     Support 3 9.472

Reliance Power Ltd
Today's condition    122.90     +1.75    (1.44%)
Details                     Technicals for 08-03-2011
Open 118.50                    Resistance 3 131.2
Last close 121.15             Resistance 2 127.3
Today's high 123.40         Resistance 1 125
Today's low 117.20          PP (Pivot Point) 121.1
Volume 8,493,194            Support 1 118.8
52-Week high 190.00       Support 2 114.9
52-Week low 128.50        Support 3 112.6


Nestle India Ltd
Today's condition         3748.75      +78.45      (2.13%)
Details                    Technicals for 08-03-2011
Open 3650.00                   Resistance 3 4046.25
Last close 3670.30            Resistance 2 3912.6
Today's high 3778.95        Resistance 1 3829.65
Today's low 3562.3501      PP (Pivot Point) 3696.
Volume 39,096                 Support 1 3613.05
52-Week high 4224.00      Support 2 3479.4
52-Week low 0.00             Support 3 3396.45

FIIs were net sellers of Rs 2,702.22 crore while DIIs were net buyers of Rs 1,029.22 crore in equities today, February 24, as per provisional data available with NSE.

Indian equity benchmarks shattered on the back of a sharp spike in crude oil prices in international markets on Thursday, reacting to growing concerns in Libya, which could spread over to other oil-producing as well as exporting countries in the Middle East.

The 30-share BSE Sensex dropped 545.92 points or 3%, to close at 17,632.41 and the 50-share NSE Nifty fell 174.65 points or 3.21%, to end at 5262.70 on record volume.

All sectoral indices were butchered badly; the BSE Bank and Capital Goods indices were hit the hardest, which plunged 4% each. Auto, Realty, Metal, Healthcare, Oil & Gas, Power, FMCG and IT indices too were down 2-3.5%.

It was a record volume for the Indian markets, especially on expiry day. Total traded turnover was at Rs 2,99,194.72 crore, including Rs 2,77,277.49 crore from the F&O segment.

MUMBAI: HDFC Bank on Thursday rose by over 4 percent on the Bombay Stock Exchange on buying by investors at attractive lower levels.

This is a good strategy to trade in market that if market is going down then buy good stock at low price and after some time it will definitely give a good return.

The stock, which was the top gainer among the 30-Sensex scrips, surged 4.15 percent to close at Rs 2,183.80 on BSE. In the intra-day trade, the scrip had gained 4.49 percent to touch a month's high of Rs 2,191.

On the National Stock Exchange, HDFC Bank settled 4.64 percent higher at Rs 2,192.

On the volume front, over 12 lakh shares of the company were traded on the two bourses.

Besides, other major banking stocks, including SBI and ICICI Bank closed in the green. Country's top lender SBI settled higher by 0.96 percent, while ICICI Bank closed up by 0.46 percent.

Meanwhile, the BSE barometer Sensex closed with a gain of 205.92 points at 18,506.82 points.

So that is the indication for the bank nifty.