Markets end with choppy trading session for the whole week. Major Indices continued to correct and lost nearly 2%. Small cap Index outperformed the major indices by slipping just a few points. While the Frontline stocks continued their slide, on the other side the select Midcap and Smallcap stocks fired up.

Markets remained in the correction mode for most of the week. With the results season also on the way or is there, markets remained almost flat to negative. Markets men fear any new positions in the markets. Infosys came with its Quarter results. Guidance was pretty below the market expectation.

The only Index to gain in the current week was the IT Index, which rallied almost 3%. Infosys was the major contributor to the gain. It was up more than 4%. TCS & Hexaware surged more then 2% each. Rest all the Indices saw negative growth. With the report by the evaluator stating that the reserves in the D9 have been estimated to only half of the actual estimated of 10.6tcf. Ril Ind shares corrected nearly 4% in a week. Which triggered the Oil Index to correct 3.3%. Ongc & Gail too slipped 3% each.

Auto Index also corrected. Hero Honda contributed the most by shirking 6.5% & MNM by 5.4%. Tatamotor was also down. But the Tata Motor DVR up nearly 13% on back so valuing buying in that. Bank Index was down almost 3.5%. Icici bank corrected 6%. Axisbank & SBI 3% each.

Sesagoa

Sesagoa looks good on the charts. Traders can buy the stock at the cmp of 472, as it has given a buying breakout above 469 levels. Buy with the price target of 485-490++. SL to be mentioned at 462.

ICICI BANK

Short ICICI below 912 SL 920.

Indices

Global markets too helped the markets trigger the loss, but the Indian markets were lucky not to have that kind of windfall as the other Asian and the European markets felt.

Nifty closed below its 20DMA at 5262 levels, and will continue to be weak till the time its is down y another 100-150 points. Yes Nifty could fall down to 5100-5150 levels. Nifty close below the 5254 levels may weaken it more. Macd has also given negative trigger. Volumes have been flat. Rate hike possible in the coming week. Inflation almost at the top.

Steel stocks are looking very strong. Traders can take long positions in the select metal stocks like Tata Steel, Sesagoa.