Web site : www.theeconomicrevolution.com email : theeconomicrevolution@yahoo.co.in Vol. 6 Issue :09 Date : 22.04-2013 to 28.

8.04-2013 Editor : Narendra Joshi Mobile:9825065387 Address : 115/991, Nirmal Apartment, Telephone Exchange Road, Naranpura, Ahmedabad -380063 Phone : 27451449

TRADING LEVELS --- 22ND / 26TH APRIL MADHAV RANDE

06

IT IS BETTER TO BUY AT DISCOUNT POST LISTING .

14

TRADERS CAN HOLD

THEIR LONG POSITIONS ONLY AS LONG AS THE INDEX TRADES ABOVE

16

5,670.

TRENDCHAZER

MARKET PREVIEW

19/04/2013. BULLISH RISING GAP STILL HOLDS. As expected for the second week running, both Sensex and Nifty took support at the critical long term Bullish Upward Gap between Sensex 18284-18062 and Nifty 5526-5447. But now the million dollar question is whether

PULL-BACK OR REVERSAL?
the current rally is a mere Pull-back or a Reversal. The sharp upward rally witnessed in the previous week can still be attributed as a Pull-back rally and not a Reversal of Trend yet. Only if the Sensex stays above the level of 19416 and Nifty above 5869; can we say that this is a Reversal of Trend. Also the Bearish Head and Shoulders pattern is still in force and that pattern can be negated only if the Sensex closes above 19754 and Nifty above 5971. T E C H N I C A L LY SPEAKING. Sensex opened the week at 18196, made a high of 19058, low of 18144 and closed the week at 19016. Thus it registered a strong weekly gain of 774 points. At the same time the Nifty opened the week at 5508 , made a high of 5794 , low of 5500 and closed the week at 5783. Thus the Nifty went up by 255 points on a weekly basis. Both the indices made a big White Body Marubuzo on the weekly charts. It has also formed a Bullish Engulfing which is a Bullish Reversal pattern, if we consider last two weeks candle formations. As a matter of fact the current
Continue on ......7

POSITIVE FOR BANKS BUT CARFUL IN SUGAR AND AUTOMOBILE STOCKS

this week is represented by planet Ketu and year 2013 is repr e s e n t e d b y Ve n u s . During week four planets will be in Mesh Rashi sun, mars, Ve n u s a n d K e t u . While Saturn and Rahu are in Tula rashi apposite to each other. This combination may were seen unexpected lead volatility in In- move around 10% to 14% upward movedian stock market. Continue on ......08 Our Advance predictions on stocks proved correct. One side upward movement was seen in Public sectors banks State bank of India, Union bank,

BANKING/FINANCIAL, PHARMA, AND LIQUOR SECTOR WILL GET ASTROLOGICAL SUPPORTWILL

22nd April 2013 26th April 2013
Weekly planetary position: During the week, Moon will be transiting in Leo, Virgo & Libra. Lord Saturn & Rahu in Libra. Jupiter in Taurus. Pluto in Sagittarius. Neptune in Aquarius. Ketu, Mars, Sun & Venus in Aries & Mercury in Pisces. New Vikram Samvat 2070 (Hindi/ Hindu New Year) have started from 11th April 2013. With commencement of new Samvat, astrologically, based on planetary position, some new sectors start out performing, while others remain laggard. According to our experience of last more than 13 years, stocks of such sectors outperform resulting in exorbitant gains, irrespective of the behavior of Market. They are called the sectors of Samvat. Last year when new Samvat started Gem & Jewellery, Media & Entertainment & Paints sectors were sectors of Samvat 2069. In Gem & Jewellery
Continue on ......2

ASTROMONEY GURU

COL. AJAY
Mo. 09414056705, 09314196555
www. astromoneyguru.com
Jain Estate, Jakeria Road, Malad (West), Mumbai 400064, Tel : 022-2880 2636 Email id : info@smartprofit.in Website : www.smartprofit.in

ASTROLOGY & STOCK MARKET SATISH GUPTA

http://www.astrostocktips.in e ail:astrostocktips@rediffmail.com

09811738366

MOBILE : - 09810018438

2
PARAS GHELANI (M) 9099010827
SCRIPT NAME Super Spinning Sree Rayalseema Alkali Sturdy Ind SPSL Assam Co. Kriti Nutriens Karuturi Super Spinning Moschip Semi Alok Ind LML Suryachakra Power Mirc Ele Himachal Fut Kriti Ind Marksans Pharma KS Oil SELMCL TTML Moser Baer Digjam JSW Ispat KFA Shri Ashtavinayak Edserve Tutis Tech Anus Lab Twilight Litaka CODE 521180 507753 530611 533110 500024 533210 531687 521180 532407 521070 500255 532874 500279 500183 526423 524404 526209 532886 532371 517140 503796 500305 532747 532793 533055 532311 532981 506985

THE ECONOMICREVOLUTION
HIGH RISK HIGH PROFIT
CMP 5.16 7.07 2.44 1.81 5.70 3.75 3.46 5.51 2.38 10.10 5.70 1.18 6.97 7.97 4.99 3.93 2.69 3.64 8.38 4.79 5.10 9.37 6.98 1.28 4.94 4.13 0.40 5.70 TA1 12.00 14.00 5.00 5.00 9.00 9.00 5.00 12.00 5.00 14.00 9.00 3.00 12.00 12.00 9.00 5.00 5.00 5.00 12.00 9.00 9.00 12.00 12.00 3.00 9.00 9.00 2.00 9.00 TA2 18.00 18.00 9.00 9.00 14.00 12.00 9.00 18.00 9.00 18.00 14.00 5.00 14.00 14.00 14.00 9.00 7.00 9.00 14.00 12.00 12.00 14.00 14.00 5.00 14.00 14.00 5.00 14.00 Gitananjali Gems, Tribhuvan Das Bhimjee & Vaibhav Global shot by 110-290%. In Media & Entertainment Sun TV, Zee TV, Hathway, TV 18 & PVR moved up by 65-

Date : 22.04-2013 to 28.04-2013

Cont. from Pg. 1
predicted & during the week Aurobindo Pharma shot up by 13% & Lupin & Sun Pharma made new highs. LIQUOR sector will also continue getting astrological support. Last week this sector was predicted & during the week United Spirit & Tilak Nagar moved up by 15-16%. United Spirit made new life time high, despite heavy selling by lenders of KFA. Buy Ttan & ITC on dips Always be very cautious, when some main planets i.e. Rahu, Ketu, Jupiter & Lord Saturn are changing their houses. It may be that certain sectors which were continue sly getting support for long time may stop receiving support due to change in position by above planets & stocks of those sectors starts coming down, resulting in losses. This is common reason, why most people loss money. One should trade only in the stocks of that sectors which are getting very strong astrologically support. Sectors which get very strong ASTROLOGICAL support are not normally affected by downfall in the market.

ASTROLOGY & STOCK MARKET

CIAL sector i.e. SBI, Canara Bank, BOI, UCO Bank, HDFC, LIC Housing, M&M Financials, IFCI & IDFC etc will continue getting very

FOR ACCURATE STOCK MARKET PREDICTIONS

http//www.astrostocktips.in
TEL NO 9810018438- 9810056543
135% & among Paints sector Asian Paints, Berger Paints & Shalimar Paints appreciated by 5597%. Tata Global went up by 80% during last one year. Take the case of Sugar sector, which has been continuously getting positive news since last more than 6 months & despite decontrol - failed to outperform, simply because this sector is not receiving any astrological support. To know which sectors will outperform in current Samvat & to achieve maximum gains please contact us. Lord Saturn is in retrograde position from 18th February to 8th July 2013. Following sectors will be getting astrological support & buying may be initiated on down days. BANKING / FINANstrong astrological. This sector is being continuesly predicted by us since last one month & last week Allahabad Bank, IDFC, Canara Bank, UBI, OBC, Karnataka Bank, SBI, Yes Bank, Axis Bank & Indusind Bank moved up by 1015.9%. Bank Nifty was the star performer. Interestingly, even on days when NIFTY was down, Bank Nifty used to outperform, simply because, this sector is getting very strong astrological support. PHARMA sector i.e. Cipla, Aurobindo Pharma, Dr Reddy, Sun Pharma, Ranbaxy, Biocon, Wockhardt, Lupin etc will also continue receiving astrological support. Last week, this sector was also

SENSEX ---- (SUPPORT/STOPLOSS-18745/18453----RESISTANCE/ TARGET--19425/19782)

SENSEX ---- (SUPPORT/STOPLOSS-18745/18453----RESISTA N C E / TA R G E T- 19425/19782) Technically sensex looking sideways for also looking sideways for coming days. The next major Strong Resistance in the nifty is above 5956 mark. Live Technical Nifty future Targets and Stop loss for

coming days. The next major Resistance level of sensex is 19425. Live Technical Targets and Stop loss for clients only. NIFTY ---- (SUPPORT/STOPLOSS-5623/5412----RESISTA N C E / TA R G E T- 5891/5956)

THE ECONOMIC REVOLUTION

clients only. SHORT TERM TRADING IDEA ---- ( CASH & FUTURE BOTH )---ICICI BANK ---( S U P P O R T / STOPLOSS--1027---RESISTANCE/TARGET--1174) Technically stock is Technically Nifty is also looking good on

chart for trading for coming days. The next major Strong Resistance in the stock is above 1174 mark. Live Technical stock cash and future Targets and Stop loss for clients only. We can change our Targets and Stoploss anytime. SHORT TERM TRADING IDEA ---- ( CASH & FUTURE BOTH )---RELIANCE CAPITAL ---- (SUPPORT/ STOPLOSS--279---RESISTANCE/TARGET--367) Technically stock is also looking good on chart for trading for coming days. The next major Strong Resistance in the stock is above 367 mark. Live Technical stock cash and future Targets and Stop loss for clients only. We can change our Targets and Stoploss anytime.

GOLD UP RS. 500/10 GM ON GLOBAL CUES

Gold prices rallied to regain Rs. 27,000 per 10 gm level in the national capital on Saturday on brisk buying by retail customers after recent steep fall amid short-covering by speculators on firming global trend. The gold, which had suffered biggest ever losses following a meltdown in global bullion prices, recovered by Rs. 500 to Rs. 27,100 per 10 gm. It had gained Rs. 250 in the previous session. Traders said the recovery in gold prices was backed by emergence of retailers buying at attractive low levels, as the metal suffered the biggest loss of Rs. 3,250 in four sessions earlier this week. They said the rising trend was further fuelled on speculators covering their short positions created in the bear markets and a rise in futures trade on the Multi Commodity Exchange. The gold in New York reclaimed 1,400 dollar an ounce by climbing 1.4 per cent to 1,412.40 dollar an ounce and spurted one per cent to Rs. 26,069 per 10 gm

on the MCX. Buying activity was mostly confined to gold as silver continued to fall for the sixth straight day on Saturday by losing Rs. 100 to Rs. 45,300 per kg. This was on reduced off-take by industrial units on expectations of more correction in the prices. Silver had plunged Rs 7,200 in previous five sessions. Gold in world markets had slumped the most since 1983 on April 15, by losing nearly 10 per cent on speculations that Cyprus
Continue on ......16

FAMOUS WRITERS FROM EVERY CORNER OF INDIA GIVES HIS ADVICE FOR YOU ONLY

THE ECONOMICREVOLUTION

Date : 22.04-2013 to 28.04-2013

DARK HORSE RECOMMENDATION BY SMART PROFIT

NEYVELI LIGNITE CORPORATION
BSE CODE 513683 CMP: 69 TARGET: 92 IN 4 MONTHS
Tonnes per Annum at Neyveli and one open cast lignite Mine of capacity 2.1 Million Tonnes per Annum at Barsingsar, Rajasthan. Three Thermal Power Stations with a total installed capacity of 2490 Mega Watt at Neyveli and one Thermal Power Station at Barsingsar, Rajasthan with an installed capacity of 250 Mega Watt NLC reported 20% growth in sales during the third quarter at Rs 1,255.70 crore as compared to Rs 1,045.99 crore for the same period in the previous year 2011-12. Profit After Tax stood at at Rs 221.65 crore as compared to Rs 184.94 crore for the same period in the previous year 2011-12 and registered a growth of 19.85%. The Company has 50% joint venture with Tamil Nadu Electricity Board and its announced its plans to invest about Rs.36, 900 Crore on power generations and mining capacity augmentation by 2017. The plan also includes development of power projects

SUMAN JAIN

Neyveli Lignite Corporation Limited, a Navratna Government of India Enterprise, a pioneer among the public

sector undertakings in energy sector, NLC operates Three Opencast Lignite Mines of total capacity of 28.5 Million

using other fuel feed. The company is also planning to invest Rs.40,200 Crore to build power plants in Tamil Nadu, Rajasthan and Uttar Pradesh. Strong expansion & diversification plans to explore coal-based, wind and solar power generation projects will add on strength to the cashbook. The coal priced has risen, due to which Central

Govt. has forced SEB to increase Electricity Power tariff by 25-30%. This will directly benefit NLC for ownership of their mines. We recommend BUY on the stock at CMP of Rs.69, the stock P/E ratio is at 10.67 x FY13E and 11.89 x FY14E respectively with a target price of Rs. 92 in 4 months

RURAL ELECTRIFICATION CORPORATION (REC)

BSE CODE 532955 CMP: 218; TARGET: 250 IN 4 MONTHS
State Government DeRural Electrification partments and Rural Corporation Limited Electric Cooperatives for (REC), incorporated in 3552.23 crore in Q3 December 2012 over Q3 December 2011. been steadily increasing which also has helped RECL to keep its cost of funds under check. Over the Eleventh and Twelfth Five Year plans (FY07-17), India targets to add ~170 MW, creating huge investment opportunities across the power value chain. High growth, long term visibility and sustainable returns, coupled with demand-supply gap and rising energy consumption, make the sector an attractive investment option. We expect earnings CAGR of ~20%, with average RoA of ~3% over FY13-14. We recommend a BUY at CMP Rs.218 target of Rs 285 in 4 months.

BUY TATA COMMUNICATION

BSE CODE 500483 CMP: 228 TARGET: 315 IN 4 MONTHS
Global Network encompasses one of the most advanced and largest submarine cable networks, a Tier-1 IP network, connectivity to more than 200 countries across 400 PoPs and more than 10 lac square feet data center space. Tata Communications serves its customers from its offices in 80 cities in 40 countries worldwide. The number one global international wholesale voice operator and number one provider of International Long Distance, Enterprise Data and Internet Services in India (famously known as TATA PHOTON+), the company was named "Best Wholesale Carrier" at the World Communications Awards and was named the "Best PanAsian Wholesale Provider" Tata Communications Ltd. is a part of the $6740 Crore Tata Companies; it is listed on the Bombay Stock Exchange and the National

1969 is a leading NAVRATNA Central Public Sector Enterprise under Ministry of Power, with a net worth of Rs. 14,745 Crore, has main objective to finance and promote rural electrification projects all over the country. It provides financial assistance to State Electricity Boards,

rural electrification projects as are sponsored by them. The Government of India owns 66.8% stake in REC (as per the shareholding pattern as on 31 March 2013). REC's net profit rose 33.4% to Rs 1026.65 crore on 31.6% growth in total income to Rs

RECL started disbursing short term loans to SEBs subject to fulfillment of certain pre-requisite conditions such as 1) tariff hike 2) government guarantee 3) proof of filing of tariff hike petition etc, which reduces the risk on incremental lending done to SEBs. The share of foreign currency borrowings has

Tata Communications Limited along with its global subsidiaries (Tata Communications) is a leading global provider of the new world of communications. The Tata

THE ECONOMIC REVOLUTION GUJARATI AND ENGLISH HARD COPY AVAILABLE IN THE MARKET

Date : 22.04-2013 to 28.04-2013

THE ECONOMICREVOLUTION

MIDCAP STOCKS WILL SHOW STRENGTH IN THIS WEEK

One can buy this stock on dips around 545-550 keeping stop loss of 531. On the upper side stock will zoom up to 575 level, cross over will take it to 588---600 levNAYAN PATEL els in coming (M 9879526525 days!!! email - rupeegains@yahoo.co.in IRB INFRA web site rupeegains.com Last close: 119.35 this stock in panic Stock is looking 5719 level, below keeping stop loss of strong on daily chart. this level will create 446. On the upper panic up to 5660 lev- side stock will zoom Some positive news els. On the upper side up to 459.50 level, on INFRA sector resistance at 5815 cross over will take it may come in coming levels, cross over to 468----472 or 485 days. Risky traders 5815 will take it to levels in this can buy this stock keeping stop loss of 5865---5910 level. rally!!! 116. On the upper RANBAXY OIL INDIA Last close: 455.90 Last close: 556.50 side stock will zoom Stock has shown Last week, some up to 126 level, cross strong consolidation value buying was over will take it to at lower level and seen in this counter. 133 levels in coming NIFTY Last close: 5783.10 For next week NIFTY has strong support at 5739--now ready for one up move. Stock is looking explosive on chart. Positional traders still can buy days!!! BHEL Last close: 185.70 One can buy this stock keeping stop loss of 181.50. On the upper side stock will zoom up to 189.50 level, cross over will take it to 195 levels in coming days. Soon stock will cross 200+ levels soon!!! CAIRN INDIA Last close: 293.40 Stock is looking hot on chart. One can buy this stock in panic around 290 keeping stop loss of 285. On the upper side stock will zoom up to 298 level, cross over will take it to 310 levels in coming days!!! Hot buy of the week for investors Blue Star Infotech Ltd (BSE Code: 532356) (Close: 59.20) Blue St a r Infotech Limited is a part of the wellknown BLUE STAR GROUP. Company has equity of just Rs.10.39crore while it has huge reserve of around Rs.71.87crore and it has a book value of Rs.80.46 per share. Company has declared net profit of Rs.2.14crore in December Quarter against net profit of Rs.0.82crore. It has shown EPS of Rs.4.22 in first nine months of FY13 & it may show EPS of Rs.6.25 in FY13. Current level stock is available at forward P/E of just 10. This is regular dividend paying company and it has paid 20% dividend for FY12. Investors can buy this stock with stop loss of Rs.51. On the upper side stock will zoom up to Rs.75---77 levels in coming days while it has potential to kiss Rs.100+ levels in medium to long term. Its alltime high rate is Rs.255.!!!

NOW SOME PAGES OF THE ECONOMIC REVOLUTION IS AVAILABLE ON MONDAY ON THIS WEB AND WHOLE ISSUE WILL BE AVAILABLE ON OR AFTER WEDNESDAY ONLY. IF YOU WANT WHOLE ISSUE ON SUNDAY EVENING IN YOUR E MAIL HARD COPY OF ENGLISH EDITION IS ALSO AVAILABLE IN THE MARKET, FOR SPECIMEN VISIT OUR WEB SITE www.theeconomicrevolution.com & .in

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Date : 22.04-2013 to 28.04-2013

Lions Roar
weeks white body candle is so big that it completely engulfs last three weeks black body candles. On the daily charts there is an Opening White Body Marubuzo on both Sensex and Nifty, which is again pointing towards more bullishness in the short term. Sensex and 5719-57945869 for the Nifty. This week both the indices were able to conquer the short term average of 20dma (Sensex 18657 and Nifty 5633), and even the long term average of 200dma (Sensex 18666 and Nifty 5661). Nifty even managed to close above

THE ECONOMICREVOLUTION
low of Sensex 15748 and Nifty 4770 to a high of Sensex 20203 and Nifty 6111, then the relevant correction levels for that will be at Sensex 1850117976-17450 and 55995441-5282 for the Nifty. On closer inspection we find that the 38.2% Retracement level of the entire rally i.e. Sensex Nifty above 5971, then the Bearish Head and Shoulders pattern will stand negated. MACD has given a Buy signal despite being negative. ROC too is negative and continues with its Sell signal but is moving higher. RSI (54) has given a fresh Buy signal besides showing positive divergence. Stochastic Oscillator is in Buy mode as %K (74) is above %D. MFI (59) is under Buy mode and also showing a positive divergence which signals money flowing into the market. ADX has moved lower to 24, suggesting that the current trend has lost lot some of its strength. The Directional Indicators have given a Buy signal just two days back as +DI has gone above -DI. OBV continues in Sell mode besides making a lower top lower bottom formation, hence OBV does not confirm with the current upward price movement. Thus, majority of the Oscillators with the exception of OBV have turned positive for the short term. The Nifty O.I. PCR has increased to 1.37. The value has increased after the O.I.PCR reached oversold levels last week. For the current series, highest Open interest build up is seen at 5600 Put and 5900 Call. This suggests that the market expects a trading range for the Nifty with support at 5600 and resistance around 5900

7
Cont. from Pg. 1
levels. Lot of Put writing was seen at the strike of 5700 on Thursday, which suggests an immediate support at that level. Trendline Support for the Sensex is at 17860. Trendline Resistance for the Sensex is at 19340. Trendline Support for the Nifty is at 5511. Trendline Resistance for the Nifty falls at 5837. For the week ahead, Sensex will find Support at 18687-1839318062 and will find Resistance at 1934519686-20036. For the week ahead, Nifty will find Support at 5679-5583-5477 and will find Resistance at 5863-5971-6068.

INDEX LEVELS :
Nifty Sensex 5477 5583 5679 5783 18062 18393 18687 19016 5863 5971 6068 19345 19686 20036

This week, both the indices again tested and took support at the Bull-

18267 and Nifty 5507 is very close to starting point of the Bullish Rising Gap (Sensex 18284 and Nifty 5526) THIS WEEKS RECOMMENDATIONS: and 50% of In123456789012345678 termittent rally 123456789012345678 123456789012345678 123456789012345678 123456789012345678 i.e. Sensex 123456789012345678 123456789012345678 STOCK CMP SL Tgt-1 Tgt-2 123456789012345678 17976 and 123456789012345678 123456789012345678 123456789012345678 Buy FinTech 754 734 781 809 123456789012345678 Nifty 5441 is Buy ReLCap 339 333 348 358 very close to Buy UnionBnk 236 231 243 12345678901234567890 251 12345678901234567890 the lower end 12345678901234567890 12345678901234567890 12345678901234567890 Buy DenaBnk 94 92 98 102 12345678901234567890 12345678901234567890 of the Bullish Buy Bhel 185 182 190 12345678901234567890 195 12345678901234567890 12345678901234567890 Gap (Sensex 12345678901234567890 12345678901234567890 12345678901234567890 and 12345678901234567890 18062 Nifty 5447); ish Rising Gap between below that level. Thus thus forming a strong the trend in the short

the medium term average of 50dma (Sensex 19101 and Nifty 5769) but Sensex has closed

123456789012345678 123456789012345678 123456789012345678 123456789012345678 123456789012345678 123456789012345678 123456789012345678 123456789012345678 Majority of the recommendations did well, but 123456789012345678 123456789012345678 123456789012345678 of the week were Karnataka Bank and RPower 123456789012345678

LAST WEEKS RECOMMENDATIONS :

the Star performers which went up by

more than 9% each!!! STOCK Reco. Price Buy HDFCBK 16,000 Buy KTKBnk 135 Buy RPower 66 Buy Hindalco 91 Buy UcoBnk 60

Tgt 643 145 70 95 63

Reached Lot Size Profit 672 148 72 94 64 Total 675 500 Rs.

4000 Rs. 52,000 4000 Rs. 24,000 2000 Rs.12345678901234567890 6,000 12345678901234567890 12345678901234567890 12345678901234567890 12345678901234567890 4000 Rs.12345678901234567890 16,000 12345678901234567890 12345678901234567890 12345678901234567890 Rs. 1,14,000 12345678901234567890
12345678901234567890 12345678901234567890 12345678901234567890 12345678901234567890

ASTROMONEYGURU
ment under volatile market. Kindly refer to long article of different market expert almost all electronic and print media expert were carrying weak view on Indian stock market. Now check now they have changed their view. This is magic of financial astrology. Our banking and Pharma stocks have rocked the market against all market experts. Now this week public sectors banks still looking positive while automobile, sugar and media stocks may see some profit booking in Indian stock market. Short term traders may keep eyes on Icici bank, Punjab national bank, Union bank for trading keep away from automobile and sugar stocks for time being. This week Karak Rashi traders need to careful in big volume trading. Good quality Perl is recommended in right hand first finger under guidance of only financial astrologer. Remember this is not you who make orlose money this is your stars which lead to make profit or loss. Therefore check your horoscope before

Cont. from Pg. 1

jumping in to market. Karak rashi traders kindly check vastu of their office and home specially north west direction . Ifthere is some problem then problem toward health, difference of opinion with children may happens. All above predictions have made base on astrology, Profit and loss are based on individual's horoscope. Kindly get check horoscope from financial astrologer before taking any decisions. Risk factors should always consider in future trading

Sensex 18284-18062 and Nifty 5526-5447. This gap has acted as a strong support for the market even before. This gap holds more significance because a breach of this gap will signal the end of the current rally. The Pull-back rally started this week after both Sensex and Nifty again took support at the Bullish Rising Gap as mentioned above. The levels for the Pull-back rally will be 1893019173-19416 for the

term and the long term timeframe has turned upwards but the medium term trend still remains down atleast for the Sensex. If we consider the entire rally from low of Sensex 15135 and Nifty 4531 to a high of Sensex 20203 and Nifty 6111, then the retracement levels for the Sensex will be 18267-17669-17071 and 5507-5321-5134 for the Nifty. If we consider the intermittent rally from the

support zone between Sensex 18284 - 17976 and Nifty 5526 - 5441. This support zone held true for the second week running. Both Sensex and Nifty had completed a Bearish Head and Shoulders pattern, the targets for which were Sensex 17250 and Nifty 5204. This is secondary pattern which has evolved from the smaller primary Head and Shoulders pattern. Only if the Sensex were to close above 19754 and

THE ECONOMIC REVOLUTION

GET SUCCESS IN STOCK, COMMODITY AND FOREX MARKET

Date : 22.04-2013 to 28.04-2013

THE ECONOMICREVOLUTION

WEEKLY SUPPORT AND RESISTANCE LEVELS

FROM 22 APR TO 27 APR 2013 Email: anuraghsr@yahoo.com ANURAG GUPTA MOBILE : (M) 9255191643
SYMBOL CLOSE TREND ACC APR 1212.20 BULLISH ABIRLANUVO APR 971.80 BULLISH AMBUJACEM 189.10 BULLISH ARVIND APR 85.05 BULLISH AUROPHARMA APR 181.90 BULLISH AXISBANK APR 1427.85 BULLISH BAJAJAUTO APR 1795.00 BULLISH BANKNIFTY APR 12265.40BULLISH BHEL APR 186.30 BULLISH CENTURYTEX APR 299.40 BULLISH COALINDIA APR 299.90 BEARISH DIVISLAB APR 1062.65 BULLISH GAIL APR 331.75 BULLISH GRASIM APR 2823.55 BULLISH HDFC APR 818.30 BULLISH HDFCBANK APR 672.15 BULLISH ICICIBANK APR 1121.15 BULLISH INFOSYS APR 2295.95 BEARISH JINDALSTEEL APR 337.65 BULLISH JSWSTEEL APR 717.80 BULLISH KOTAKBANK APR 668.90 BULLISH MARUTI APR 1528.95 BULLISH NIFTY APR 5783.00 BEARISH ONGC APR 334.70 BULLISH RANBAXY APR 456.85 BULLISH RELCAPITAL APR 339.95 BULLISH RELIANCE APR 782.85 BULLISH SBIN APR 2288.05 BULLISH UNITEDSPIRITS APR2099.80 BULLISH WIPRO APR 368.65 BEARISH ZEE ENTER APR 211.20 BULLISH RES2 RES1 1276.73 1244.47 1016.60 994.20 202.47 195.78 89.55 87.30 193.87 187.88 1551.88 1489.87 1876.67 1835.83 12931.13 12598.27 192.77 189.53 316.10 307.75 307.30 303.60 1108.82 1085.73 344.82 338.28 2944.18 2883.87 858.03 838.17 698.58 685.37 1184.35 1152.75 2436.02 2365.98 354.58 346.12 794.87 756.33 695.90 682.40 1623.85 1576.40 5987.83 5885.42 356.17 345.43 473.55 465.20 362.45 351.20 827.18 805.02 2457.95 2373.00 2352.03 2225.92 405.15 386.90 221.53 216.37 TREND 1187.23 967.60 183.12 84.30 181.32 1371.18 1773.17 11962.13 183.67 293.10 298.30 1054.37 327.37 2789.98 801.73 660.78 1093.40 2289.92 336.03 708.27 658.25 1488.05 5694.28 325.92 451.40 334.75 787.93 2214.05 2071.88 374.75 207.23 SUPP1 SUPP2 1154.97 1097.73 945.20 918.60 176.43 163.77 82.05 79.05 175.33 168.77 1309.17 1190.48 1732.33 1669.67 11629.27 10993.13 180.43 174.57 284.75 270.10 294.60 289.30 1031.28 999.92 320.83 309.92 2729.67 2635.78 781.87 745.43 647.57 622.98 1061.80 1002.45 2219.88 2143.82 327.57 317.48 669.73 621.67 644.75 620.60 1440.60 1352.25 5591.87 5400.73 315.18 295.67 443.05 429.25 323.50 307.05 765.77 748.68 2129.10 1970.15 1945.77 1791.73 356.50 344.35 202.07 192.93

By Dilip Davda

Biz Brief:
Email: dilip_davda@rediffmail.com

PURAVANKARA SETS TREND OF REWARDING MINORITY STAKEHOLDERS

On a consolidated performance for tional dividend of 50% (a total dividend of 70%) and has thus set a trend of being investor friendly corporate. Commenting on the strong results, Ravi Puravankara, Chairman and Managing Director, Puravankara Projects, said We have crossed a key milestone for the group with revenues exceeding Rs. 1,200 crore for the financial year ended 31 March 2013 based on excellent performance both under Puravankara and Provident brands. Innovative marketing strategies, differentiated product offerings have seen us clock record sales of 3.96 msft for the fiscal 2013 and we will work to keep up this momentum. It is with pleasure we acknowledge the support of the minority shareholders who have stood by us with the belief in our brand, people and processes. We remain committed to create value for them.

TRADING GUIDELINES (or how to trade using this sheet): PLEASE UNDERSTAND BEFORE YOU TRADE

1. This model is based on the premise that the TREND LEVEL is the most important price level that decides the intraday trend. Much like how the door or a window hangs by a hinge and sways in the wind, the intraday trend also hangs by this TREND LEVEL and swings because of the demand-supply, volatility and market sentiments prevailing in the market. Hence its importance in intraday trading. 2. Opening Price is considered around close of previous day. Avoid BUYING if Prices open abnormally High and Avoid SELLING if prices open too low. 3. If the market price is stable above the TREND LEVEL, then GO LONG. and book profit near the resistant level (res1 and res2) 4. If the market price is stable below the TREND LEVEL, then GO SHORT. and book profit near the support level (sup1 and sup2) 5. STOP LOSS: Since you are aware of the 'potential returns' at the time of initiating an intraday trade (difference between the entry price and profit targets), you should set up an appropriate STOP LOSS around 1% above below of the trade price to protect yourself if the market turns and goes against you. 6. ALTERNATE STRATEGY: If you have already initiated a trade with clear-cut profit targets and a stop loss level, and find during the course of the trading day that the market turns and goes the other way and crosses the TREND LEVEL, then trade again: .For instance, if your first trade was a LONG trade and the market price drops through the TREND LEVEL to lower price levels, then GO SHORT. . And, if your first trade was a SHORT trade, and the market price rises through the TREND LEVEL to higher price levels, then GO LONG. Anurag Gupta is a professional analyst and investment consultant having a rich experience of around 13 years successfully predicting the movement of Indian Stock Market. With an enviable track record of more than 90 % accuracy consistently, we firmly believe that the Key to success for Indian stock market is a rare combination of Money + Method + Time + Target. It would be a very difficult task to achieve perfection in all above, but we have been able to go very much close to the same by continuously practicing the guru mantras for stock market over the past 2 decades Self confidence, Hard Work. My email id and chat id anuraghsr@yahoo.com. Mobile no 9255191643. You can watch his daily news letter on http://www.ways2gain.com/ anuraggupta_daily.html. We provide paid service also for intraday trading Nifty Future Call + intraday call in fno and in capital market + daily news letter + BTST/STBT+ delivery base call for swing traders and short term investors. Based on news and technical by sms.

the fiscal 2012-13, Puravankara Projects has reported net profit After Tax of Rs. 243 crore ( up 79%) on a turnover of Rs. 1246 crore (up 53%) and it has not monetized land parcel during the year. With this performance, the company has announced a dividend of 20% for all, but it has rewarded nonpromoter stakeholders with an addi-

FULCRUM VENTURE INDIA INVESTS RS. 21.82 CRORE IN SHIELD HEALTHCARE

21.82 crore in Shield Healthcare Pvt Ltd a pharmaceutical company within the branded formulations space. The company will use the proceeds to fund its business geographically and vertically integrate a manufacturing unit. As an integral part of this deal, Krishna Ramanathan, Founder-Partner, Fulcrum Venture India will join the Board of Directors of the Company.

Fulcrum Venture India, a highly successful early stage venture capital investor started in 2000 by Krishna Ramanathan as a proprietary fund, recently announced an investment of Rs.

KULS PHASE II DEVELOPMENT AT PUNE

Close on the heels of the success of the countrys first ever realty project based on designs from prospective home buyers, MumbaiPune developer Kumar Urban Development Limited (KUL) announced the launch of the second phase of its integrated eco-friendly township, KUL Ecoloch, in Mahalunge, behind Balewadi Stadium, Pune. Phase II of KUL Ecoloch is spread over 100 acres, with mountains on one side and river on the other. The new phase consists of a total saleable area of around 9, 90, 000 sq. ft. with 1/2 BHK of 550 sq ft./ 1020 sq ft. The design, elevations and the overall amenities in KUL Ecoloch phase II have been upgraded to global standards.

THE ECONOMIC REVOLUTION

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THE ECONOMICREVOLUTION

Date : 22.04-2013 to 28.04-2013

MARKETS WILL BE OPENING WITH A POSITIVE GAP ON SENSEX. MARKETS WILL BE WITNESSING MIXED TREND DURING THE ABOVE MENTIONED PERIOD.
MARKET FORECAST FOR THE PERIOD STARTING FROM 22 nd APRIL, 2013 TO 28th APRIL, 2013 Markets will be opening with a positive gap on SENSEX. Markets will be witnessing MIXED trend during the BUY@ 715-725, TARGET PRICE : 800820, STOP LOSS : 700-701, RE-ENTRY PRICE : 675-685, EXIT PERIDO : 10-15 TRD.DAYS, ( ENTRY TIME: DURING THE DAY) SAFE BETS: Reliance- May: BUY @ 775-780, TARG E T Raman Murty Mumbai PRICE: Contact No. 091675 47273, 835-860, email id : S T O P LOSS: 760sensex_stocks@yahoo.co.in, 761, REwebsite : www.track2trade.net E N T RY PRICE: 735-745, EXIT PERIOD : 1015 TRD. DAYS, (ENT R Y T I M E : DURING 260.50, RE-ENTRY above mentioned peTHE DAY) riod. There will be high PRICE: 248 -253, Reliance - PUT volatility in the markets. EXIT PERIOD : 10-15 760-PE - May: BUY @ TRD. DAYS (ENTRY Markets will be closing 15-17, TARGET TIME: DURING THE in uncertainty at the PRICE : 35-50, STOP closing of Fridays trad- DAY) Eclerx: BUY @ LOSS : 8.00-8.50, ing. 635640, TARGET EXIT PERIOD : 10I advise all the trad700-725, 15TRD. DAYS , ( ENers to apply stop loss for PRICE: all their executed trades STOP LOSS: 622- TRY TIME : During as per their risk bearing 622.50, RE-ENTRY the day) Heromotoco- FU600-605, capacity. Please do take PRICE: note of the Re-Entry EXIT PERIOD: 10-15 TURES- May: Buy @ price where ever the TRD. DAYS, (ENTRY 1485-1495, TARGET TIME: DURING THE PRICE : 1625-1650, stop loss triggers. STOP LOSS: 1470POINTS TO RE- DAY) 1471, Re Entry Price FUTURES:MEMBER: : 1440-1450, EXIT Jublfoods FUSAFE BETS : Both the positions are to be TURES-May : BUY PERIOD : 10-15 taken simultaneously in @ 1080-1090, TAR- TRD.DAYS. (TRADE order to be safe on trad- GET PRICE : 1200- T I M E : - D U R I N G ing, i.e., both futures as 1225, STOP LOSS: THE DAY) Heromotoco - Putwell as option are to be 1065-1066, RE-EN1450-PE: BUY @ 35TRY PRICE: 1035taken to get the pur40, TARGET PRICE: 1045, EXIT PERIOD : posed served. 80-100, STOP LOSS : OPTIONS SEG- 10-15 TRD. DAYS, MENT: Both call and (ENTRY TIME: DUR- 28-28.50, EXIT PERIOD: 10-15, TRD. put are to be taken si- ING THE DAY) (ENTRY Indusind Bank - DAYS, multaneously without any deviation. Do not do May : Short Selling @ TIME: DURING THE naked trading, it is dan- 465-460, TARGET DAY) OPTIONS: PRICE: 410-390, gerous to pockets. NIFTY PutMURTY REC- STOP LOSS: 475-474, 5700PEMay : BUY EXIT PERIOD : 10-15 OMMENDS AS UN@ 45-50, TARGET TRD. DAYS, (TRADE DER:PRICE: 150-175, CASH SEGMENT: TIME: DURING THE STOP LOSS: 38BHEL: BUY @ DAY) 38.50, EXIT PERIOD HCL Tech May : 182-185, TARGET PRICE : 200-210, STOP LOSS: 178178.50, RE-ENTRY PRICE: 172-174, EXIT PERIOD : 10-15 TRD.DAYS. (ENTRY TIME:-DURING THE DAY) NIIT Tech : BUY @ 265-268, TARGET PRICE : 295-305, STOP LOSS: 260: 10-15 TRD. DAYS, (ENTRY TIME: DURING THE DAY) Nifty Call 5800CE- May: BUY @ 100-105, TARGET PRICE: 165-180, STOP LOSS: 85-86, EXIT PERIOD: 10-15 TRD. DAYS, (ENTRY TIME: DURING THE DAY) M&M Put 900PE-May : BUY @ 2024, TARGET PRICE: 75-90, STOP LOSS: 14-14.25, EXIT PERIOD : 10-15 TRD. DAYS, (ENTRY TIME: DURING THE DAY) M&M- Call 920 CE: BUY @ 15-17, TARGET PRICE: 3550, STOP LOSS: 9.009.25, EXIT PERID : 10-15 TRD. DAYS, (ENTRY TIME: DURING THE DAY) Wish you a very happy trading week

SHARP FALL IN GOLD AND OIL PRICE LIFTS STOCK PRICES

BSE Sensex (19016.46) and Nifty (5783.10) closed up by 4.2% and 4.6% respectively last week.Nifty Future April was quoting at 0.10 points discount.Nifty call option April 5800 was very active.Support for Sensex is at 18750. Resistance for Sensex is at 19340. Support for Nifty is at 5690 and resistance at 5880. C A I R N , H D F C BANK,AXIS BANK,ICICI BANK and MARUTI www.nainaninarendra.blogspot.com will anwww.subscripionnarendra.blogspot.com nounce Q4 results next week. SBI and TCS added Open Interest in April series.Huge position was build up at SBI April Call Option Strike Price 2300.Good build up was also seen at TCS Call April Option Strike Price 1500. Strategy for Futures Option players. (1) DENA BANK (94.85) lot size 4000 shares Buy One Call Option of MAY Strike Price 95@4.15 Rs Sell One Call Option of MAY Strike Price 100@2.20 Rs. Premium .Paid= 4.15*4000=16600.00 Rs. Premium Received= 2.20*4000= 8800.00 Rs. Net Premium Paid=16600-8800= 7800.00 Rs. Maximum Profit==100-95 =5*4000=20000-7800= 12200.00 Rs.Maximum Loss= 7800.00 Rs. Break Even = 96.95 (2) SBI (2256.05) Future-Lot Size 125 shares. Buy One Lot MAY Future @2256.05 Rs Sell One Call Option of MAY Strike Price 2300@ Rs.74.05 Premium Received=74.05*125= 9256.25 Rs Maximum Profit=2300-2256.05 = 43.95*125= 5493.75 + 9256.25=14750.00 Rs. Max Loss=Unlimited. Trading Idea (1) ICICI BANK (1122.65) Buy this stock in decline and trade (2) IDFC (161.25) Buy this stock in decline and trade

STOCKS

THE ECONOMIC REVOLUTION

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THE ECONOMICREVOLUTION

Date : 22.04-2013 to 28.04-2013

By Dilip Davda

IPO &Biz Brief:

Email: dilip_davda@rediffmail.com

Veteran stock market analyst contributing to print and electronic media since 1985 and visiting stock analyst on DD News - Mumbai.

SCOTTS GARMENTS LTD IPO OPENS ON 25.04.13

After the news of SEBI clearance for IPO of Just Dial, primary market operators were eagerly waiting for the official announcement and pricing details of the said IPO, but with a great Best Seller-Denmark, Old Navy, H & M -USA, C & A Buying Germany, Vila A/s- Denmark, Rhodi Suppliers UK etc. Its manufacturing capacity as on 31.03.12 was 217.08 lakh pieces per 450000 equity shares for its employees and has also made pre-IPO placement of 1739130 equity share at a price of Rs. 115 per share on 26.12.12. It issued bonus in the ratio of 12 for 1

ASKING HIGHER PRICE FOR IPO AGAINST PRE-IPO PLACEMENT PRICE IS NOT JUSTIFIED. ALTHOUGH GARMENT INDUSTRY IS POISED FOR BRIGHT PROSPECTS AHEAD AS PER RECENT BUDGET, CONSIDERING LISTING IN "T "GROUP FOR INITIAL PERIOD, IT IS BETTER TO BUY AT DISCOUNT POST LISTING.
SOME MAY CLAIM IT IS A WORTHY BET, BUT CONSIDERING THE PRE-IPO PLACEMENT PRICE, THE CURRENT IPO PRICE IS TOTALLY UNJUSTIFIED IN PRESENT SCENARIO OF SUBDUED SECONDRY MARKET, IT'S GRADING 3/ 5 ALSO INDICATES "AVERAGE" FUNDAMENTALS SO IT IS BETTER TO BUY AT DISCOUNT POST LISTING.

IT IS BETTER TO BUY AT DISCOUNT POST LISTING.

surprise to all, we have the announcement from Scotts Garments Ltd, that is taking the onus of bemonth and has windmill power generation capacities of 4.05 MW in southon 28.03.2006 and during 2007-2009 issued equity shares in different price bands ranging between Rs. 20 to Rs. 80 per share. Issue opens for subscription on 25.04.13 and will close on 29.04.13. Minimum application is to be made for 100 shares and in multiples thereof thereafter. Shares will be listed on BSE and NSE post allotments. BRLM to the issue are Keynote Corporate Services Ltd. and Canara Bank. Link Intime India is the registrar to the issue. CARE has assigned IPO Grade 3 to this IPO indicating at average fundamentals of the company. For the fiscals 20102011 and 2012 respectively the company reported total turnover of Rs. 434.36 crore, 503.75 crore and 566.13 crore (including other income of Rs. 4.19 crore, 8.47 crore and 65.88 crore) with a net profit of Rs. 27.84 crore, Rs. 34.93 crore and Rs. 84.03 crore. Thus fiscal 2012 witnessed quantum jumps with higher other income. For the first seven months ended 31.10.12 it has posted turnover of Rs. 335.33 crore with a net profit of Rs. 20.41 crore. If we attribute this earning on annualized basis on post IPO Companys equity of Rs. 38.98 crore then the asking price is at a P/E of around 14.5 and at a P/ BV of 1.4 plus considering its NAV of Rs. 90.98. Thus is appears to be aggressively priced against its peers that are trading at a P/E of 10 to 16. On BRLMs performance front, Keynote Corporate had mandate for 17 IPOs out of which 8 failed to give listing day gains. For Canara Bank this is perhaps first mandate after very long. Remarks: Asking higher price for IPO against pre-IPO placement price is not justified. Although garment industry is poised for bright prospects ahead as per recent budget, considering listing in T group for initial period, it is better to buy at discount post listing.

ing the first main line IPO for the fiscal 201314. Details of the Scotts Garment IPO are as under: Scotts Garments Ltd. (SGL) is a garment manufacturing company in India having state of the art facilities for manufacturing of high quality fashion garments mainly for global markets. Its facility is fully backed by product development, design studio, and efficient sampling infrastructure supported by facilities like embroidery, printing, dyeing and washing. Its list of international clients includes

ern region. For last three fiscals its exports contributed above 91% in the total turnover. The company is now planning to set up Trouser manufacturing unit at Doddabalapaur in Karnataka and Knitting and Fabric Processing unit at Kolhapur in Maharashtra. To part finance this along with raising general corpus fund and working capital, it is offering 10506954 equity share of Rs. 10 each via book building process and fixed a price band of Rs. 130-132 to mobilize around Rs. 136 crore. Company has reserved

WONDERLA HOLIDAYS FILES DRHP WITH SEBI

Wonderla Holidays Limited has filed a DRHP with SEBI for an initial public offering of 14,500,000 equity shares of face value of Rs. 10 each for cash at a price to be decided through a 100% book-building process. The Issue would constitute 25.66% of the fully diluted post Issue paid up equity share capital of the Company. The Equity Shares offered in the Issue are proposed to be listed on the BSE and NSE. The Book Running Lead Managers to the Issue are Edelweiss Financial Services Limited and ICICI Securities Limited. The Company currently owns and operates two amusement parks under the brand name Wonderla, situated at Kochi and Bangalore. It also owns and operates a resort beside the amusement park in Bangalore under the brand name Wonderla Resort. The Company is in the process of setting up their third amusement park in Hyderabad, and the Issue proceeds will primarily be utilized towards this purpose.

SUBSCRIBE TER, A MULTI ANALYST WEEKLY TO GET SATURDAY AND SUNDAY THE ECONOMIC REVOLUTION MIDNIGHT, ALL (3) WEEKLY PUBLICATIONS, SUBSCRIPTION IS ONLY RS. 1000 PER YEAR

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THE ECONOMICREVOLUTION

Date : 22.04-2013 to 28.04-2013

TRADERS CAN HOLD THEIR LONG POSITIONS ONLY AS LONG AS THE INDEX TRADES ABOVE 5,670.
April 20, 2013: Even as pandemonium prevailed in commodity markets and other global equity markets witnessed a sell-off, Indian equity markets put up a strong show. The Sensex and the Nifty gained around 4 per cent last week. The rupee appreciation adding one per cent to the gains make ours the best performing equity market globally in dollar terms. The bulls could yank stock prices back from the brink early last week, thanks to the announcement that the wholesale price index for the month of March grew at a slow 5.96 per cent over the previous year. This raised hope of interest rate cut in the upcoming monetary policy meet. The crash in gold and crude prices was also was also welcomed by soon to presume a reverinvestors. sal in the medium-term endar. Short-term targets for

MARKET PREVIEW
Global cues were, however, not too benign with earnings of companies in the US coming in lower than expected and China growing at just 7.7 per cent in the first quarter. Short-covering by bears ahead of the derivative expiry scheduled next Thursday too played an important part in taking prices higher last week. With markets closed next Wednesday on account of Mahavir Jayanti, prices could stay volatile in the next three trend. Sensex (19,016.4) Sensex reversed from the intra-week low of 18,144 to close 773 points higher. As explained earlier, minor counts of the down-move from 20,203 peak were converging around 18,300 making it a likely point where the first wave can halt. But it is not yet certain if the correction that began at 20,203 is complete or if it will further subdivide. The guideposts for the upcoming weeks are as follows: If the rally from 18,144 reverses from the 19,000 level, it will mean that the medium-term trend remains down and the index can decline to 17,786 or 17,000 in the weeks ahead. If the Sensex manages to get to 19,426 or 19,500 and reverses from there, it will mean that the index will remain in a range between 19,500 and 18,000 for few weeks before the next wave unfolds. The short-term view will turn positive only on a strong close above 19,500. That will imply that the index is heading for 21,000 level this calthe index are 19,190 and 20,214. Supports that can cushion the index next week are at 18,700 and 18,500. Nifty (5,783.1) The Nifty reversed from the intra-week low of 5,681 to close 94 points higher. The movement of the index over the medium-term can be guided by these levels: The Nifty has key short-term resistance at 5,862. Reversal below this level will mean that

tance at 5,866. Traders can hold their long positions only as long as the index trades above 5,670. Decline below 5,600 will imply that the short-term trend has weakened again. Global cues Global equity markets lost some ground last week and closed in the red on fears of a slowdown in economic growth in China and Federal Reserve stopping its monthly injection of liquidity into the US economy. The Dow recorded its first emphatic negative weekly close this calendar, closing 317 points lower. But this move has not really dented the bullish fervour in the shortterm. We retain the short-term trend decid-

SENSEX

NIFTY

viewed as a positive by equity investors since it will help to reduce the countrys current account deficit. This helped the rupee gain 1 per cent. Measures announced by the Government to boost exports against the backdrop of exports declining by 1.76 per cent in March over the corresponding period the previous year

sessions. The giant bullish engulfing candlestick pattern in the weekly chart is a positive for the sustenance of the reversal witnessed this week. Oscillators in the daily chart are beginning to move higher in to the bullish zone. A tiny upturn is visible in weekly oscillators too. It is, however, too

THE ECONOMIC REVOLUTION

the index will withdraw to 5,408 or 5,170 in the coming months. But a move above 5,862 will mean that the index will move on to 6,112 and then to 6,300 in the medium-term. The movement of the Nifty next week will give us clues about its medium-term trajectory. For the short-term, Nifty faces key resis-

ing level at 14,000 and the medium-term targets at 15,400 and 15,700 for this index. It was not the action in equity market but the crash in bullion prices that hogged investor attention last week. Gold has gone completely against our expectation, crashing below the $1,400 an ounce

level indicated in our last column. Gold fell 12 per cent last week to hit the low of $1,321. In e-wave terms, we were going along with the count that the fourth wave from the 2001 trough was in motion with a fifth wave higher impending that could take the metal to $2,000. But the crash last week signals the end of the move from 2001 at the September 2011 peak of $1,920. If we consider Fibonacci retracement of this move, we get 38.2 per cent retracement at $1,284. One-third fall from the $1,920 peak gives us the target at $1,286. Since the yellow metal stopped just $40 short of this support, we can look forward to a halt at this region. Extrapolation of the down-move that began at $1,920 gives us t h e t a rg e t s a t $1,402, $1,251 and then $1,159. We will need to see the action in gold over the next two weeks to decide how this decline is shaping. Silver too lost 10 per cent to close at $23.1 last week. But the decline is sharper in silver s i n c e i t s 2 0 11 p e a k with the metal down 53 per cent from there. In terms of retracement of the move from 2001, the metal is drawing close to its 61.8 per cent retracement level that is an important long-term support.

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