Weekly Equity Report by www.epicresearch.co - 28 January 2013

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indore, India (prHWY.com) January 28, 2013 - WEEKLY NEWS
Uniform gas price policy to be brought soon: Moily
The Union Ministry of Petroleum and Natural Gas of India will soon bring in a Uniform Gas Price Policy to ensure parity in the price of imported and locally produced gas."I have worked out the policy, but don't know whether it has to go to the Cabinet or not. The proposed policy will ensure one price for gas that is imported and that is produced here," Union Minister for Petroleum and Natural Gas M Veerappa Moily said here this evening. Imported gas currently costs high, he pointed out..
Hexaware says not lost any clients; company on growth track
Software services firm Hexaware on Monday informed the stock exchanges that it has not lost any of its large clients as rumoured in the market, and not "encountered any adverse outcomes in the recent deal pursuits."The company's stock was among the big losers in the midcap space on Thursday, shedding over 9 percent. On Fridsay, the stock closed 4 percent higher at Rs 80.80
UBS upgrades Maruti to 'buy' on yen weakness
UBS upgraded its ratings on Maruti Suzuki India to "buy" from "neutral," and raised its price target to Rs 2,000 from Rs 1,500, noting the weakening Japanese yen over the past three months would boost earnings.
Market Analysis
DESPITE EXCELLENT SET OF THE EARNINGS NUMBERS BY SOME OF THE HEAVY WEIGHTS THE MARKET DURING THE WEEK ENDED 25TH JANUARY 2013 TRADED VOLATILE ON WEAK GLOBAL MARKET MOOD. THE INDIAN MARKET THOUGH WITNESSED SHARP SHORT COVERING TOWARDS THE CLOSE OF THE WEEK AHEAD OF THE CRUCIAL RBI MEET, THUS ENABLING THE NIFTY TO CLOSE AT TWO YEAR HIGH ON FRIDAY.MARKETS MAY HAVE PRICED IN ATLEAST 25 BPS CUT IN REPO NEXT WEEK, BUT ANYTHING MORE OR LESS THAN THIS WOULD CAUSE THE MARKET TO MOVE EITHER WAY.IN THE MEAN TIME SOME OF THEQUARTERLY RESULTS WOULD CONTINUE TO PROVIDE COUNTER SPECIFIC ACTION. THE BENCHMARK NIFTY SURGED IN THREE OF THE LAST FIVE TRADING DAYS BUT CLOSED AT 6074.65POINTS ON FRIDAY (10.25 POINTS HIGHER THAN THE END OF THE PREVIOUS WEEK). THE NIFTY FUTURE OF THE JANUARY SERIES RATHER CLOSED AT MARGINAL DISCOUNT TO THE UNDERLYING AT 6073.70.IN THE WEEK ENDED FRIDAY, 18 JANUARY 2013, THE BSE SENSEX ROSE 375.40 POINTS OR 1.91% TO 20,039.04, ITS HIGHEST CLOSING LEVEL SINCE 6 JANUARY 2011.DURING THE FULL WEEK ENDED 25TH JANUARY 2013 THE NIFTY FUTURE OF THE JANUARY SERIES SHED 29.94 LAKH SHARES IN OPEN INTEREST (OI) EVIDENTLY DUE TO SHORT COVERING TO TAKE ITS TOTAL OITO 1.16 CRORE SHARES. ON THE OTHER
HAND THE NIFTY FUTURE OF THE FEBRUARY SERIES ADDED 20.89LAKH SHARES IN OI DUE TO LONG BUILDUP TO TAKE ITS TOTAL OI TO 34.05 LAKH SHARES.
MARKET UPDATE
Nifty down by 11 pts and
settle at 6074.00
Bank Nifty up by 15 pts
at 12693.00
Factors to watch
NIFTY
* Nifty looks Consolidate
* Strategy: Sell on rise Strategy: Sell on rise
* Support:6020 Support: 12610
* Resistance: 6120
BANK NIFTY

* Bank Nifty looks Consolidate
* Strategy: Sell on rise Strategy: Sell on rise
* Support: 12610
* Resistance: 12770

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