DOW JONE was down by 112 points, NASDAQ down by 34 points. ASIAN markets - NIKKIE, HANG SENG, TAIWAN INDEX & SGX NIFTY were down.All business channels & analysts were expecting gap down opening.On the basis of planetary position,which has to change before opening of market(which was favorable for INDIAN MARKETS), we with the blessings of Lord GANESHA predicted at 7:15 am on ZEE BUSINESS, REDIFF.COM & on MONEYCONTROL.COM that sentiment of INDIAN MARKETS will be positive. NIFTY & SENSEX opened positive & despite all EUORPEON MARKETS too traded negative - NIFTY was up by 50 points at close.
LAST WEEK’S PREDICTION: As predicted, there was good demand in FINANCIAL & PHARMA stocks. In BANKING – FEDERAL, YES BANK, ANDHRA BANK, BOB, UCO, INDIAN BANK, SOUTH INDIAN appreciated by 6-8%. Among FINANCE, LIC HSG, HDFC & DEVAN HSG by 2-7%. BSE BANKEX was the best performing indices on 27th May. In PHARMA- BIOCON, LUPIN, Dr REDDY, DEVI’S LAB, IPCA & PIRAMAL HEALTH appreciated by 2-8%.
With the blessings of Lord Ganesha, it was predicted by us on 15th April 2010 “WATCHES stocks will out perform, carry long position in TITAN". Despite heavy volatility with down ward bias & panic like situation – TITAN appreciated by 19.4% in one month. On 14th May 2010, when NIFTY was down by 100 points, it made new high & closed positive by 1.5%.
LAST WEEK’S PREDICTION: It was volatile & choppy week. Market traded under pressure & NIFTY lost 5% .Despite all negativities, with the blessings of Lord Ganesha our prediction about PHARMA sector proved correct & CIPLA, RANBAXY, GLAXO, DIVI’S LAB, PIRAMAL HEALTH, LUPIN & GLENMARK etc went up by 4-9%. TITAN moved up by 4.4%.
LAST WEEK’S PREDICTION: As predicted, almost all BANKING stocks were on fire & CORPORATION; CANARA, YES, DENA, J & K, DENA, ANDHRA & INDIAN BANK went up by 7 – 18%. In FINANCE – HDFC, IFCI, CANFIN HOME, LIC HSG by 5-10%. Among LIQUOR – TILAKNAGAR, INDAGE, SOM DISTILLERY & WIMSON moved up by 7-24%. TITAN appreciated by 5%.
It was predicted on 19th April 10 (when NIFTY was down by 58 points) “Whatever may be the content / outcome of the RBI credit policy to be announced on 20th April 10 – Astrological position suggests that BANKING / FINANCIAL stocks will out perform for next fortnight “On 20th APRIL, RBI announced increase in CRR, REPO RATE & REVERSE REPO rate by 25 basis points each. Almost all BANKING & FINANCIAL stocks were on fire & AXIS, ANDHRA, BOI, SBI, DENA & DCB went up by 3-10%. Among FINANCE – PFC, DEVAN HSG, CANFIN HOME, LIC HSG. GRUH FINANCE, IDFC by 3-5%. BSE bankex was the 2nd best performing indices & all most all stocks in this sector closed in green. Momentum in these sectors will continue.
As predicted last week, there was good demand in HOTEL & PERSONAL CARE sectors. In HOTELS – INDIA HOTEL, ROYAL ORCHID, TAJ GVK & KAMAT went up by 1.2 – 32%. Among PERSONAL CARE- DABUR, COLGATE, HIND UNILEVER & GODREJ CONSUMERS by 2-10%.
As predicted last week, FINANCIAL stocks continued upward journey & BOI, DEVAN HSG., KOTAK BANK, GRUH FINANCE, ALLHABAD BANK & CENRAL BANK moved up by 5-9%. Among LIQUORS – UNITED BREWERIES, EMPEE, PIONEER & KHODAY appreciated by 8-21%. TATA MOTOR & TITAN by 3.6-2.5%.
As predicted last week, there was great demand in LIQUOR stocks & GLOBUS, GM BREWERIES, TILAKNAGAR, ASSOCIATED & INDAGE VINTERS moved up by 7 – 27%. Among POWER EQUIPMENTS – HBL POWER, HAVELS, CROMPTON & INDO ASIAN FUSE by 7-20%. In FINANCIALS – HDFC & LIC HSG. by 8-10%.
THE RBI ON LAST FRIDAY (19th MARCH) MOVED TO STEM THE INFLATIONARY PRESSURE BY RAISING ITS KEY POLICY RATES – REPO (THE RATE AT WHICH BANKS BORROW FUNDS FROM RBI) & REVERSE REPO (THE RATE AT WHICH BANKS PARK FUNDS WITH RBI) BY 25 BASIS POINTS. AFTER THE ANNONCEMENT, ENTIRE MEDIA BACKED BY VARIOUS ANALYSTS WERE OF THE OPINION THAT CONSEQUENT TO THIS ACTION OF RBI, BANKING & INTEREST RELATED STOCKS WOULD UNDER PERFORM. DUE TO THIS REACTION ON MONDAY (22nd MARCH) - SINGAPORE NIFTY ALSO OPENED NEGATIVE BY 75 POINTS. BUT, KEEPING IN VIEW THE STRONG PLANETARY SUPPORT THIS SECTOR WAS GETTING, WE RECOMMENDED ON OUR WEB SITE www.astrostocktips.in ON 21st MARCH 10 TO BUY FINANCIAL / BANKING STOCKS ON DIPS. WE REITERATE THAT WHATEVER EVER MAY BE THE OPINION OF MEDIA/ ANALYST FINANCIAL SECTOR WOULD CONTINUE TO GET STRONG ASTRO SUPPORT & THEREFORE OUT PERFORM.. BANKING SECTOR WAS ONE OF THE BEST PERFORMING SECTOR DURING THIS WEEK.& MANY STOCKS IN THIS SECTOR i.e., AXIS BANK, HDFC BANK, BANK OF BARODA, PNB etc MADE ALL TIME HIGH.