LKW Weekly Review & Forecast

The sentiment at the beginning of the week pointed towards consolidation with an upward bias as the undertone seemed upbeat and optimistic. However, sharp swings also increased the probability of getting caught at the wrong end.

Most traders fell for the short term bear trap as the upward trend and the positive sentiment reversed by the mid week over the anxiety of the pace of economic recovery.

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Closing Capsule

The Indian markets ceded ground at the opening on account of the weak global cues as selling pressure intensified post the negative opening of the European markets.

Initiation of fresh short trades after the benchmarks broke the key support levels aggravated the downfall. However strong support near its (Nifty) 50 day moving average and unwinding of short positions that coincided with the firmness in the European markets aided a sharp recovery back home.

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Closing Capsule

Subdued global cues led to muted trading in the Indian markets with alternate bouts of buying and selling for the first half of the trade. Thereafter the negative opening of the European markets triggered a sharp sell-off.

Volatility ruled the roost as bulls looked for cover near the penultimate hours of trade. Thereafter short covering at lower levels helped the markets to recoup partially.

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Pharma Sector Fund

Outperformance, but still worth considering?

Increased volatility and uncertainty have made defensive pharma stocks a must in one’s portfolio. The increase in these stock prices in the last quarter was primarily led by better than expected results posted by the companies in this space. Strong domestic demand coupled with increasing preference for generics worldwide helped the companies deliver improved results.

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Cox and Kings - Pricing Review & Verdict

Though the business is not comparable with time share companies, it stands to benefit from the low start up costs, which in turn also leads to a very low entry barrier. This is also reflected in the highly fragmented industry and number of independent players offering similar products at very competitive rates.

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