*Weekly Nifty Update 27 Feb, 2010 by Tanmay G Purohit* Nifty has closed positive (+77 points) at 4922 positive close 3rd week in a row and it was able to cross 4950-resistance intraday on Friday, though close came below that only. Monthly chart shows Nifty gained 40 points in February 2010 and in record books it would show Nifty was +0.82% in the month of 2010-budget. Nifty can go towards 5040 if it can sustain 4880 this week on a sustainable basis, Budget reaction was very positive but markets would open only on Tuesday after a 3-day weekend and that reaction would be more important, below 4850 caution advised. HINDALCO was once again top gainer this week with 8.5% rise followed by MARUTI, RANBAXY, REL CAP and L&T. HERO HONDA rose 15% in February while SIEMENS, ICICI BANK, AXIS BANK were up more than 10% each. ITC was big loser (-6.5%) this week after the stock fell due to more excise burden on cigarettes. Read complete update - http://tanmaygopal.blogspot.com/2010/02/weekly-nifty-update-27-feb-2010-by.html
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