Stocks
Short-term trend turns weak
AFTER showing a sideways pattern for nearly four weeks, the indices witnessed a definitive break-out, resolving thereby the uncertainty that has prevailed at the stock markets. The Sensex saw a break-out on the downside which was, however, contained by t he support from the moving averages. On the other hand, the broadbased BSE-100 witnessed an upside break-out in the previous week.

Downtrend yet to subside
AS mentioned in the previous week, the share price of Hindustan Lever (CMP Rs. 2,346.75) continued to rule weak in the previous settlement. There appears to be hardly any reason to take long positions at current levels as the stock appears to be on its w ay down to test the previous bottom of Rs. 2,130.

Book profit in Ashok Leyland
MARKET sentiment continued to remain subdued in this settlement as well. However, the Sensex appears to be bottoming out and a sharp rally appears to be on the cards. Though there exists a possibility of the Sensex declining to the 5050-5100 levels, such dips ought to be used to take exposure in the Sensex stocks.

Indices' movement not in tandem
THE correlation in the movement of the BL - 250 Composite Index and the Sensex continued to remain weak. The market movement was broadbased, as has been the case for quite time now.

Demand for IT stocks set to continue
THE average badla rate for the market was around 28.5 per cent per annum, down by half-a-percentage point in relation to the previous week. The aggregate carry-forward badla value was around Rs. 3,548 crores, lower by Rs. 2 crores vis-a-vis the previous week's badla session.

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