Indian stock indices gained modestly in a fairly choppy week. The 2G scam hit the headlines again. There was some relief in the form of Germany’s lawmakers voting in favour of boosting the eurozone rescue fund. However, markets are still skeptical about Europe’s various plans to prevent Greece from defaulting and contain the credit crisis. The US economy is not exactly pulling away either. Data also showed stagnation in China’s manufacturing output.
Back home, inflation remains a BIG issue for one and all. The Government’s fiscal condition is also not inspiring much confidence. Expectations from earnings are already low. So, one doesn’t really know what impact results will have on markets. Being the start of a new month, the focus will be on manufacturing PMI, auto sales and cement volumes. Offshore news flow will continue to hold sway over the markets. US jobs report will be another key monitorable.
Overall, the Indian indices are likely to witness sideways consolidation till further clarity emerges on the global front. Encouraging policy action and moderation in global commodities will be a positive for India.
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Weekly Technical Analysis of the Indian Stock & Share Market
Most Active Stocks
The 20 most active stocks traded in terms of value of shares traded and their weekly % change.
| Security Name | Close | % Change |
| RELIANCE INDS | 808.35 | 4.89 |
| INFOSYS TECHNOLO | 2533.05 | 8.30 |
| STATE BANK | 1911.05 | -2.01 |
| LARSEN & TOUBRO | 1357.60 | -6.46 |
| ICICI BANK | 875.40 | 3.75 |
| HDFC LTD | 640.90 | 2.54 |
| HDFC BANK | 467.65 | 2.46 |
| AXIS BANK | 1018.90 | -6.26 |
| RELIANCE CAPITAL | 315.15 | -21.63 |
| TCS | 1037.30 | 4.74 |
| COAL INDIA | 333.20 | -8.87 |
| TATA MOTORS | 156.05 | 6.26 |
| JSW STEEL | 592.00 | -6.42 |
| JAIPRAKASH ASSOC | 72.75 | 8.01 |
| TATA STEEL | 415.35 | -4.04 |
| DLF | 218.90 | 10.83 |
| ITC LTD | 198.00 | 3.31 |
| MAHINDRA & MAHIN | 804.75 | 3.76 |
| HERO HONDA | 1941.75 | -4.68 |
| BHARTI AIRTEL | 378.00 | 0.80 |
Biggest Weekly % Gainers
The following list shows the stocks (over Rs.10/share) that had the biggest gains over last week. Gains are measured on a percentage basis. For example, a stock moving from 20 to 25 had a 5 point or 25% gain. Often stocks appearing on this list had some type of positive news (e.g., big earnings report, new product announcement, etc.).
| Security Name | Close | % Change |
| DEN NETWORKS | 69.90 | 26.06 |
| AGC NETWORKS | 166.15 | 25.35 |
| EXCEL CROP CARE | 163.40 | 24.45 |
| SPANCO | 139.65 | 21.59 |
| DCM LTD | 60.60 | 21.32 |
| ELECTROTHERM | 142.50 | 20.20 |
| ASTRA MICROWAVE PRODUCTS | 29.00 | 19.83 |
| THINKSOFT GLOBAL SERVICES | 41.40 | 18.29 |
| SPECTACLE INFOTE | 15.35 | 17.62 |
| GALLANTT METAL | 17.20 | 15.44 |
| JAYPEE INFRATECH | 52.90 | 15.25 |
| PTL ENTERPRISES | 44.75 | 14.74 |
| STORE ONE RETAIL (I) | 15.25 | 14.66 |
| GYSCOAL ALLOYS | 13.95 | 14.34 |
| DEWAN HOUSING | 235.50 | 13.82 |
| J KUMAR INFRAPROJECTS | 136.80 | 13.20 |
| AMTEK INDIA | 139.55 | 12.50 |
| DOLPHIN OFFSHORE ENTERPRISES (I) | 139.00 | 11.87 |
| HEXAWARE TECHNOL | 83.50 | 11.78 |
| PARABOLIC DRUGS | 32.45 | 11.32 |
| DLF | 218.90 | 10.84 |
Biggest Weekly % Losers
The following list shows the stocks (over Rs.10/share) that had the biggest losses over last week. Losses are measured on a percentage basis. For example, a stock moving from 20 to 15 had a 5 point or 25% loss. Often stocks appearing on this list had some type of negative news (e.g., bad earnings report, lower analyst rating, product delay announcement, etc.).
| Security Name | Close | % Change |
| AP PAPER MILLS | 215.25 | -22.89 |
| RELIANCE CAPITAL | 315.15 | -21.62 |
| VIMTA LABS | 19.20 | -20.82 |
| SUN TV | 232.15 | -19.95 |
| RELIANCE BROADCAST NETWORK | 68.85 | -18.04 |
| KINGFISHER AIRLINES | 20.05 | -17.49 |
| AXIS-IT&T | 92.80 | -17.22 |
| MEGASOFT | 14.95 | -16.25 |
| SB&T INTL | 15.65 | -15.41 |
| BIL ENERGY SYSTEMS | 48.60 | -15.11 |
| INDOWIND ENERGY | 10.95 | -14.79 |
| PANTALOON RETAIL | 197.25 | -13.79 |
| SKS MICROFINANCE | 246.05 | -13.77 |
| RELIANCE INFRASTRUCTURE | 373.45 | -12.83 |
| ORCHID CHEM | 158.30 | -12.78 |
| NITIN FIRE PROTECTION INDS | 37.90 | -12.57 |
| MAXWELL INDS | 26.05 | -11.99 |
| SINTEX INDS | 127.20 | -11.76 |
| ACROPETAL TECHNOLOGIES | 14.05 | -11.64 |
| NETWORK 18 MEDIA & INVESTMENTS | 81.20 | -11.60 |
| TWILIGHT LITAKA PHARMA | 35.00 | -11.39 |
| GRAVITA (I) | 384.75 | -11.13 |
| ROLTA (I) | 82.80 | -11.11 |
| INFINITE COMPUTER SOLUTIONS (I) | 93.00 | -11.05 |
| PRADIP OVERSEAS | 62.00 | -11.05 |
| JUBILANT FOODWORKS | 793.15 | -10.99 |
| BAJAJ CORP | 106.10 | -10.95 |
| PRATIBHA INDS | 43.20 | -10.84 |
| THERMAX LTD | 442.35 | -10.80 |
| DB REALTY | 49.75 | -10.76 |
| BEDMUTHA INDUSTRIES | 101.85 | -10.46 |
| ISPAT INDS | 13.05 | -10.31 |
| ADVANTA (I) | 355.20 | -10.30 |
| RAVI KUMAR DISTILLERIES | 16.10 | -10.06 |
| EMAMI INFRASTRUCTURE | 35.00 | -10.03 |
Stocks with Bullish Engulfing Patterns.
The following stocks have been trending downward in the short and intermediate terms and have formed a bullish engulfing pattern. The probability of an upward reversal in prices has increased.
| Security Name | Close |
| BHUSHAN STEEL | 333.85 |
| GLAXOSMITHKLINE PHARMA | 2091.00 |
| JAGRAN PRAKASHAN | 109.05 |
| JAIPRAKASH POWER VENTURES | 34.05 |
| KEC INTL | 60.30 |
| PENINSULA LAND | 44.65 |
| PLETHICO PHARMACEUTICALS | 375.55 |
| TN PETRO PRODUCT | 15.45 |
Stocks with Bearish Engulfing Patterns.
The following stocks have been trending upward in the short and intermediate terms and have formed a bearish engulfing pattern. The probability of a downward reversal in prices has increased.
| Security Name | Close |
| CARBORUNDUM UNIV | 297.00 |
| EROS INTERNATIONAL MEDIA | 241.35 |
| INGERSOLL RAND | 491.40 |
| JSL STAINLESS | 100.05 |
| KEWAL KIRAN CLOTHING | 819.25 |
| LUPIN LABS | 474.35 |
| MAXWELL INDS | 26.05 |
| NATL STEEL | 15.30 |
| PANASONIC HOME APPLIANCES (I) CO | 103.10 |
| PARSVNATH DEVELOPERS | 64.85 |
| SHR LAKSMI COTSYN | 94.50 |
| VIP INDS | 909.75 |
% Volume Change
The following list shows all stocks whose volumes surged by more than 100% this week compared to the previous week. Upward price movement on large volume change is a bullish (positive) sign for the stock if the stock has been flat or trending downward. Downward price movement on large volume change is a bearish (negative) sign for the stock if the stock has been flat or trending upward. Stocks are arranged in descending order of volume change.
| Security Name | Close | % Change | Volume | % Change |
| EXCEL CROP CARE | 163.40 | 24.44 | 1584729 | 3940 |
| BAJAJ CORP | 106.10 | -10.96 | 1842618 | 2142 |
| DCM LTD | 60.60 | 21.32 | 1382464 | 1505 |
| THINKSOFT GLOBAL SERVICES | 41.40 | 18.28 | 905666 | 948 |
| DEWAN HOUSING | 235.50 | 13.82 | 2003675 | 648 |
| VIMTA LABS | 19.20 | -20.83 | 360501 | 563 |
| AMTEK INDIA | 139.55 | 12.49 | 5299482 | 490 |
| RELIANCE BROADCAST NETWORK | 68.85 | -18.04 | 666736 | 459 |
| ELECTROTHERM | 142.50 | 20.20 | 360182 | 428 |
| AGC NETWORKS | 166.15 | 25.34 | 57612 | 307 |
| RELIANCE CAPITAL | 315.15 | -21.63 | 36083164 | 214 |
| SUN TV | 232.15 | -19.95 | 5061044 | 170 |
| KINGFISHER AIRLINES | 20.05 | -17.49 | 21503052 | 165 |
| ROLTA (I) | 82.80 | -11.12 | 4268021 | 151 |
| DEN NETWORKS | 69.90 | 26.05 | 3632103 | 125 |
| ISPAT INDS | 13.05 | -10.31 | 32807516 | 123 |
| GYSCOAL ALLOYS | 13.95 | 14.34 | 815247 | 111 |
New Intermediate Uptrend
Prices of stocks (and other entities) rise and fall due to changes in the supply and demand relationships between buyers and sellers of the stock. The causes of the changing supply and demand relationships are many, but the effect of these changes shows up in the changing stock prices.
The following list shows all stocks & indices beginning a new intermediate uptrend. A new intermediate uptrend normally begins with an upside breakout when demand outstrips supply after a series of falling tops and bottoms.
| Security Name | Close |
| ENTEGRA | 19.95 |
| EXCEL CROP CARE | 163.40 |
| JINDAL SAW | 136.50 |
| MUNDRA PORT & SEZ | 164.35 |
| TULIP TELECOM | 159.25 |
Prices of stocks (and other entities) rise and fall due to changes in the supply and demand relationships between buyers and sellers of the stock. The causes of the changing supply and demand relationships are many, but the effect of these changes shows up in the changing stock prices.
The following list shows all stocks beginning a new intermediate downtrend. A new intermediate downtrend normally begins with a breakdown when supply soaks up all demand after a series of rising tops and bottoms.
| Security Name | Close |
| BHARAT PETROLEUM | 647.80 |
| CAROL INFO SERV. | 155.25 |
| CASTROL (I) | 477.35 |
| COAL INDIA | 333.20 |
| EMAMI LTD | 424.90 |
| FUTURE CAPITAL HOLDINGS | 136.55 |
| PAPER PRODUCTS | 75.10 |
| PETRONET LNG | 159.90 |
| SB&T INTL | 15.65 |
| SHANTI GEARS | 39.75 |
| SHOPPERS STOP | 349.75 |
| SIEMENS LTD | 837.75 |
| SUPREME INDS | 188.90 |
| TORRENT PHARMA | 539.05 |
| VAKRANGEE SOFTWARE | 350.00 |
| VENUS REMEDIES | 195.75 |
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