CNX Defty: Medium term technicals suggest a neutral view at this stage
but oversold technical indicators suggest that sharp declines may not be
round the corner. Even if a decline is underway, it may not be sharp
and lack any directional force and may at best be a drifting downward
moment. It is a wait and watch as we await the trend change that can
occur.

BSE PSU: BSE PSU remained sideways with a slight positive
bias last week. This week can see the index declining to 8400 level or
lower.

BSE Bankex: Since the level of 12850 could not be breached
on the upside, BSE Bankex exhibited sideways bi directional movement
last week. Currently, this index is trading very near its support of
12100 below which its downtrend may accelerate. Targets on the downside
could then be 11900 or lower.

BSE IT: BSE IT Index moved in line
with other sectoral indices and displayed sideways movement. Coming week
may continue to witness sideways movement. Support on the downside is
at 6100 and upside resistance will come at 6400.

BSE Cap Goods:
Last week, the BSE Cap Goods index was amongst the worst performers
amongst sectoral indices. Coming week can see it slide to levels closer
to 12350 or lower.

BSE Auto: BSE Auto Index is currently standing near an important support level of 8650. Weakness may seep in below 8650.