New Page 1

TRW WEEKLY REPORT FOR 26TH-30T APRIL 2010.

Market activities this week closed with mixed reactions as the NSE ASI lost 2.10% last seen in February, due to weak Financial scorecards hitting the market now.

As earlier said the market is is a discounting mechanism, not a feedback mechanism. As such, all future expectations would have been priced into the market before it actually happens and then if it does, profit taking sets in, resulting in a largely sideways market. If results come in worse than expected, the market will take back those gains that were priced in previously, resulting in a drop.

From a Daily technical perspective Most major Indexes are All in a Major bearish Divergence are are currently in a correction mode and we expect it corrects itself this week. For me I feel the Bull rally is over for now as prices will start trending Sideways and possibly on a lower high region for some weeks (same rally in FEB) before we can start seeing a positive change in this current scenario.

USE OUR TRW MULTIPLE TIME FRAME TABLE AS A GUIDE

HAVE A LOVELY TRADING WEEK.

Ticker	Date	Previous	Price	Weekly	YTD
NSE	23/04/2010	27988.71	27400.21	-2.10	31.56
NSE 30	23/04/2010	1137.17	1115.53	-1.90	34.73
NSE BANKING	23/04/2010	460.65	439.09	-4.68	29.40
NSE F&B	23/04/2010	822.45	817.68	-0.58	55.24
NSE INS	23/04/2010	210.55	206.84	-1.76	-16.94
NSE O&G	23/04/2010	397.74	410.26	3.15	42.42

WEEKLY GAINERS

Ticker	Date	Previous	Price	WTD
INTBREW	23/04/2010	4.50	5.71	26.89
NIGERINS	23/04/2010	1.11	1.39	25.23
CONOIL	23/04/2010	48.51	56.14	15.73
7UP	23/04/2010	40.98	47.00	14.69
UNITYBNK	23/04/2010	1.00	1.14	14.00
CONTINSURE	23/04/2010	0.97	1.09	12.37
JBERGER	23/04/2010	53.47	60.00	12.21
NESTLE	23/04/2010	289.50	314.00	8.46
UNILEVER	23/04/2010	26.00	28.01	7.73
GUINNESS	23/04/2010	154.99	165.11	6.53
HMARKINS	23/04/2010	0.50	0.53	6.00
CRUSADER	23/04/2010	0.90	0.95	5.56
REDSTAREX	23/04/2010	3.88	4.07	4.90
BERGER	23/04/2010	7.57	7.94	4.89
OANDO	23/04/2010	120.51	126.00	4.56
INTENEGINS	23/04/2010	0.66	0.69	4.55
NSE O&G	23/04/2010	397.74	410.26	3.15
BCC	23/04/2010	64.05	65.97	3.00
ABCTRANS	23/04/2010	1.07	1.10	2.80
COSTAIN	23/04/2010	8.64	8.85	2.43
ZENITHBANK	23/04/2010	15.45	15.80	2.27
CILEASING	23/04/2010	3.61	3.65	1.11
WAPIC	23/04/2010	0.93	0.94	1.08

WEEKLY LOSERS

Ticker	Date/Time	Previous	Price	WTD
GUARANTY	23/04/2010	24.46	18.48	-24.45
CHAMS	23/04/2010	1.00	0.79	-21.00
ASOSAVINGS	23/04/2010	0.71	0.57	-19.72
AGLEVENT	23/04/2010	4.53	3.80	-16.11
AP	23/04/2010	47.39	40.00	-15.59
DIAMONDBNK	23/04/2010	9.53	8.17	-14.27
JAPAULOIL	23/04/2010	1.90	1.63	-14.21
UNIC	23/04/2010	0.94	0.81	-13.83
INTERCONT	23/04/2010	2.00	1.74	-13.00
NBC	23/04/2010	39.35	34.30	-12.83
ACCESS	23/04/2010	10.90	9.53	-12.57
IBTC	23/04/2010	11.09	9.70	-12.53
PLATINUM	23/04/2010	1.67	1.48	-11.38
UAC-PROP	23/04/2010	26.25	23.37	-10.97
TANTALIZER	23/04/2010	1.34	1.20	-10.45
FIRSTINLND	23/04/2010	0.67	0.60	-10.45
SKYEBANK	23/04/2010	7.98	7.15	-10.40
NASCON	23/04/2010	9.89	8.90	-10.01
VITAFOAM	23/04/2010	7.35	6.66	-9.39
CCNN	23/04/2010	24.16	21.9	-9.35
NEM	23/04/2010	0.75	0.68	-9.33
DAARCOMM	23/04/2010	1.37	1.25	-8.76
AFRIBANK	23/04/2010	2.86	2.61	-8.74
NAHCO	23/04/2010	13.95	12.74	-8.67
STARCOMMS	23/04/2010	2.35	2.15	-8.51
MBENEFIT	23/04/2010	0.62	0.57	-8.06
FIDELITYBK	23/04/2010	3.27	3.01	-7.95
GLAXOSMITH	23/04/2010	27.60	25.80	-6.52
FCMB	23/04/2010	9.46	8.85	-6.45
ASHAKACEM	23/04/2010	22.82	21.40	-6.22
WAPCO	23/04/2010	45.00	42.28	-6.04
BIGTREAT	23/04/2010	1.06	1.00	-5.66
DANGSUGAR	23/04/2010	19.90	18.8	-5.53
UBA	23/04/2010	16.70	15.79	-5.45
WEMABANK	23/04/2010	1.11	1.05	-5.41
AIICO	23/04/2010	1.64	1.56	-4.88
DANGFLOUR	23/04/2010	24.13	23.00	-4.68
FTNCOCOA	23/04/2010	1.07	1.02	-4.67
FLOURMILL	23/04/2010	75.00	71.50	-4.67
FIDSON	23/04/2010	3.45	3.30	-4.35
BAGCO	23/04/2010	3.50	3.40	-2.86
NB	23/04/2010	70.81	68.99	-2.57
UBN	23/04/2010	6.14	6.00	-2.28
LASACO	23/04/2010	0.57	0.56	-1.75
UPL	23/04/2010	8.40	8.30	-1.19
UNHOMES	23/04/2010	0.99	0.98	-1.01
OCEANIC	23/04/2010	2.02	2.00	-0.99
FIRSTBANK	23/04/2010	17.05	16.90	-0.88
CUSTODYINS	23/04/2010	3.68	3.65	-0.82
NSE F&B	23/04/2010	822.45	817.68	-0.58
UACN	23/04/2010	54.50	54.20	-0.55

For 23/04/2010 the closing price was 27,400.2109. NSE INDEX

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

The projected upper bound is: 28,200.10.

The projected lower bound is: 26,775.85.

The projected closing price is: 27,487.98.

Note: these price projections are for reference only, and can be easily exceeded by the market.

For 23/04/2010 the closing price was 1,115.5300. NSE 30

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

The projected upper bound is: 1,152.19.

The projected lower bound is: 1,086.90.

The projected closing price is: 1,119.55.

Note: these price projections are for reference only, and can be easily exceeded by the market.

For 23/04/2010 the closing price was 439.0900.NSE BANKING

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

The projected upper bound is: 457.69.

The projected lower bound is: 422.68.

The projected closing price is: 440.18.

Note: these price projections are for reference only, and can be easily exceeded by the market.

For 23/04/2010 the closing price was 817.6800.NSE FBT

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

The projected upper bound is: 852.43.

The projected lower bound is: 792.16.

The projected closing price is: 822.29.

Note: these price projections are for reference only, and can be easily exceeded by the market.

For 23/04/2010 the closing price was 206.8400.NSE INS

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 213.30.

The projected lower bound is: 200.09.

The projected closing price is: 206.69.

Note: these price projections are for reference only, and can be easily exceeded by the market.

For 23/04/2010 the closing price was 410.2600.NSE OIL & GAS

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

The projected upper bound is: 429.23.

The projected lower bound is: 395.73.

The projected closing price is: 412.48.

Note: these price projections are for reference only, and can be easily exceeded by the market.

MULTIPLE TIME FRAME FOR TRADING

Ticker	Date/Time	MONTHLY	WEKLY	DAYLY	Overall Trend	Trend Phase	Comments
7UP	23/04/2010	+	+	+ + +	Up Trend	Initial	STAY WITH TREND
ABCTRANS	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
ACCESS	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
AFRIBANK	23/04/2010	-	-	-	Down Trend	Progress	WATCH TREND
AGLEVENT	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
AIICO	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
AP	23/04/2010	+	+	- -	No Trend	Initial	Risk for short term reversal
ASHAKACEM	23/04/2010	+	+	- -	No Trend	Initial	Risk for short term reversal
ASOSAVINGS	23/04/2010	-	-	-	Down Trend		WATCH TREND
BAGCO	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
BCC	23/04/2010	+	+	-	No Trend	Progress	Risk for short term reversal
BERGER	23/04/2010	+	+	+	Up Trend	Initial	STAY WITH TREND
BIGTREAT	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
CCNN	23/04/2010	+	+	-	No Trend	Progress	Risk for short term reversal
CHAMS	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
CILEASING	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
CONOIL	23/04/2010	+	+ +	+ + +	Up Trend	Initial	STAY WITH TREND
CONTINSURE	23/04/2010	-	+	+	No Trend	Initial	live to trade another day
CORNERST	23/04/2010	-	+	+	No Trend	Progress	live to trade another day
COSTAIN	23/04/2010	+	+	+	Up Trend	Initial	STAY WITH TREND
CRUSADER	23/04/2010	-	-	+	No Trend	Progress	Risk for short term reversal
CUSTODYINS	23/04/2010	+	+	+	Up Trend	Initial	STAY WITH TREND
DAARCOMM	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
DANGFLOUR	23/04/2010	+	+		No Trend	Initial	Risk for short term reversal
DANGSUGAR	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
DIAMONDBNK	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
FCMB	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
FIDELITYBK	23/04/2010	+	+		No Trend	Initial	Risk for short term reversal
FIDSON	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
FIRSTBANK	23/04/2010	+	+	+	Up Trend	Initial	STAY WITH TREND
FIRSTINLND	23/04/2010	-	-	-	Down Trend	Mature	Mature trend with risk of bubble
FLOURMILL	23/04/2010	+ +	+ +	-	No Trend	Initial	Risk for short term reversal
FTNCOCOA	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
GLAXOSMITH	23/04/2010	+	+	-	No Trend	Progress	Risk for short term reversal
GUARANTY	23/04/2010	+	+	- -	No Trend	Progress	Risk for short term reversal
GUINEAINS	23/04/2010				Down Trend	Initial	WATCH TREND
GUINNESS	23/04/2010	+	+ + +	+ + +	Up Trend	Initial	STAY WITH TREND
HMARKINS	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
IBTC	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
INTBREW	23/04/2010	+	+	+	Up Trend	Initial	STAY WITH TREND
INTENEGINS	23/04/2010	-	+	-	No Trend	Initial	trading range-avoid
INTERCONT	23/04/2010	-	-	-	Down Trend	Mature	Mature trend with risk of bubble
JAPAULOIL	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
JBERGER	23/04/2010	+	+ +	+ + +	Up Trend	Initial	STAY WITH TREND
LASACO	23/04/2010	-	+	-	No Trend	Initial	trading range-avoid
MBENEFIT	23/04/2010	-	-	-	Down Trend	Initial	WATCH TREND
MULTIVERSE	23/04/2010				Down Trend	Initial	WATCH TREND
NAHCO	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
NASCON	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
NB	23/04/2010	+	+	- -	No Trend	Initial	Risk for short term reversal
NBC	23/04/2010	+	+	- -	No Trend	Initial	Risk for short term reversal
NEM	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
NESTLE	23/04/2010	+ + +	+ + +	+ + +	Strong Up Trend	Progress	STAY WITH TREND
NIGERINS	23/04/2010	+	+	+	Up Trend	Initial	STAY WITH TREND
NSE	23/04/2010	+ + +	+ + +	- - -	No Trend	Initial	Risk for short term reversal
NSE 30	23/04/2010	+ + +	+ + +	-	No Trend	Initial	Risk for short term reversal
NSE BANKING	23/04/2010	+ +	+ + +	- - -	No Trend	Initial	Risk for short term reversal
NSE F&B	23/04/2010	+ + +	+ + +	+ +	Strong Up Trend	Initial	STAY WITH TREND
NSE INS	23/04/2010	- - -	- -	-	Down Trend		WATCH TREND
NSE O&G	23/04/2010	+ + +	+ + +	+ + +	Strong Up Trend	Initial	STAY WITH TREND
OANDO	23/04/2010	+	+ +	+ + +	Up Trend	Initial	STAY WITH TREND
OCEANIC	23/04/2010	-	-	-	Down Trend	Mature	Mature trend with risk of bubble
PLATINUM	23/04/2010	-	-	-	Down Trend	Mature	Mature trend with risk of bubble
PZ	23/04/2010	+	+	+	Up Trend	Progress	STAY WITH TREND
REDSTAREX	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
SKYEBANK	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
SOVRENINS	23/04/2010	-			Down Trend	Mature	Mature trend with risk of bubble
STARCOMMS	23/04/2010	-	+	-	No Trend	Initial	trading range-avoid
TANTALIZER	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
UAC-PROP	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
UACN	23/04/2010	+	+	- -	No Trend	Initial	Risk for short term reversal
UBA	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
UBN	23/04/2010	-	-	-	Down Trend	Initial	WATCH TREND
UNHOMES	23/04/2010	-	+	-	No Trend	Progress	trading range-avoid
UNIC	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
UNILEVER	23/04/2010	+	+	+	Up Trend	Progress	STAY WITH TREND
UNITYBNK	23/04/2010	-	+	-	No Trend	Initial	trading range-avoid
UPL	23/04/2010	+	+	+	Up Trend	Initial	STAY WITH TREND
VITAFOAM	23/04/2010	+	+	-	No Trend	Initial	Risk for short term reversal
WAPCO	23/04/2010	+	+	- -	No Trend	Initial	Risk for short term reversal
WAPIC	23/04/2010	+	-	+	No Trend	Initial	trading range-avoid
WEMABANK	23/04/2010	-	-	-	Down Trend	Initial	WATCH TREND
ZENITHBANK	23/04/2010	+	+	- -	No Trend	Initial	Risk for short term reversal

HAVE A NICE TRADING WEEK

This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. TRW accepts no liability whatsoever for any loss arising from any use of this expert or its contents.

INVEST FOR A GOLDEN TOMORROW