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Saturday, June 27, 2009

Weekly Newsletter - June 27 2009


In the coming week, traders and investors may remain reluctant to bet their money ahead of the Union Budget. After witnessing unabated buying since March, FIIs have turned net seller over the seven days, indicating some money is being taken off the table ahead of the Budget.

On the positive side, there are signs of some recovery in the global economy, particularly in the US. Economic data appears to be quite encouraging as the US economy shrank 5.5% in Q1 of 2009, which was less-than anticipated.

One cannot bet on a sustained rebound. Selling pressure is bound to come in at higher levels. Avoid any leverage. If stocks stage a rally no harm in booking gains ahead of the event.

Key results next week are: Finolex Industries, Ganesh Housing, Greenply Industries, Gremach Infra, Gujarat NRE Coke, Havells India, Hotel Leela, IFCI, India Cement, Nesco, Patel Engineering, Pfizer, Suzlon Energy, Tulip Telecom, Godawari Power, Anant Raj Indus, Apollo Hospitals, BRFL, DS Kulkarni, Gujarat Alkali, IBN 18, Orchid Chemicals, Petron Eng and Unity Infra.