STOCK MARKETS IN INDIA

2013-07-28T22:15:00.003+05:30

"NIFTY OUTLOOK & INTRADAY STOCK ALERTS"

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 08.04.2013 TO 14.04.2013"

2013-04-07T18:07:00.001+05:30

The 30-share benchmark index, Sensex fell sharply by 385.54 points, or 2.05%, to 18,450.23 in the week ended Apr. 05, 2013. On the other hand, the broad based NSE Nifty declined 129.30 points, or 2.28%, to 5,553.25 in the same period.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty drifting down further, traders will need to watch if the Nifty can hold above the previous intermediate lows of 5548 in the coming week. Being strong supports, they are crucial levels to watch as a close below it could lead to an extended correction and possibly a testing of the 5448-5215 levels in the coming weeks”.

KOTAK SECURITIES (Dipen Shah): “Focus of the markets would now be on the upcoming earnings season, government policy moves in the budget session and global developments (Political uncertainty in Italy and monetary stimulus by Japan). Reversing the deceleration in the industrial and infrastructure investment remains a focus area for the Government”.

KARVY STOCK BROKING: “Long positions can be assumed in FMCG, IT, Pharma if the Nifty sustains above 5600 levels in the coming week. Short positions can be accumulated in Automobiles, Banking, Capital Goods, Cements, Consumer Durables, Energy and Metals if the Nifty slips below 5550 levels. Overall, we expect Nifty to trade in the range of 5450-5650 levels for the next week”.

ICICI SECURITIES: “Nifty has breached its major support of 5630. We expect selling pressure to continue towards 5400. On upsides, the Nifty is not expected to sustain at higher levels. Even on any short covering, it is likely to face stiff resistance at 5740 where FIIs had created major shorts. The banking index has immediate resistance at 11200. Selling pressure among banking heavyweights may intensify if the Bank Nifty remains below these levels. On the lower side, 10500-10600 is expected to remain a major support”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 5535-5401 and the resistance to the up-move at 5620”.

ANGEL BROKING (Technical): “Indices are now approaching the next support level at the weekly '89-EMA' placed around 18200/5500 level. The momentum oscillators on the daily charts are extremely oversold and the possibility of a bounce thus cannot be ruled out. However, one must remember that to time the bounce will be difficult; traders looking to initiating long positions should wait for the indices to cross the Friday's high of 18525/5577. Only a sustainable move beyond this level may push markets higher to test the next resistance levels placed at 18727-18960/5645-5720. On the other hand the 'Lower Top - Lower Bottom' formation on the weekly chart is still intact and the momentum on the down side is quite strong. The charts of global markets too appear weak and may add on to the prevailing negative sentiment. A fall below 18200/5500 may reinforce selling pressure in the market. In this scenario, we may witness a continuation of the concluded week's pessimism, possibly leading indices to slide towards 17976/5441 levels, or even further down. We advise traders to stay light on the positions and follow strict stop losses. Initiating fresh short positions on the index at current levels is not recommended as the risk-reward ratio is not favourable and may incur losses”.

IIFL (Amar Ambani): “A combination of domestic and overseas headwinds continues to play havoc with the markets sentiment. Upcoming, Q4 results season could keep investors on the sidelines. On Friday, Infosys will announce its quarterly and yearly numbers. Investors will hope it can spring a surprise last quarter. The guidance will be closely tracked. A wait and watch approach may seem prudent to tide over the current turbulence”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5500 and the resistance is 5600. If Nifty breaks 5500, it may further go down 5440 and then 5400. However, if Nifty is able to sustain above 5600, the level of 5650-5720 would become the next target”.

EASTERN FINANCIERS LTD.: “After a week that saw blood-bath on Dalal Street, markets are likely to trade within a tight range as it enters an eventful week. Market movement from here on would be predominantly decided by the fourth quarter earnings of Corporate that would start trickling in from next week”.

INDIRATRADE SECURITIES: “Next week, Nifty likely to trade in the range between 5750-5800 in the upper side and 5400-5350 in the lower side”.

R K GLOBAL: “The Indian economy is facing a temporary downturn, and average rates of economic growth above 8% are possible in the medium term. There could be some weakness, given that there has been political uncertainty for quite some time, there is a possibility of high volatility to persist”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 01.04.2013 TO 07.04.2013"

2013-03-31T12:35:00.005+05:30

The 30-share benchmark index, Sensex climbed 100.17 points, or 0.53%, to 18,835.77 in the week ended Mar. 28, 2013. On the other hand, the broad based NSE Nifty rose 31.2 points, or 0.55%, to 5,682.55 in the same period.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty bouncing back smartly for the second consecutive session on the back of derivative expiry, the bulls seem to be making a come back. Further upsides are likely if the Nifty can cross the immediate resistances of 5719 early next week. Downside supports to watch for a resumption of weakness are at 5633”.

BONANZA ONLINE: “After showing selling pressure for consecutive 2 weeks, Nifty made hammer candlestick pattern on weekly charts, which shows that bulls are trying to enter from lower levels. Buying interest may be continuing above 5720 levels else profit booking may be seen. Traders may take delivery based positions in good stocks, if Nifty manages to maintain above 5720 levels. For trading during the coming session, trend deciding level is 5720. If Nifty shows strength above 5720 levels then we may see rally till 5770/5820/5870/5950. If Nifty doesn’t maintain above 5720 levels then selling pressure till 5650/5600/5550/5500 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5680-5710	5760	5655
For the Week	Buy	5670-5720	5795-5815	5640

BONANZA PORTFOLIO (Rakesh Goyal): “In coming week, 5,700 shall be crucial deciding level in near term, and index is likely to witness further buying above this level. Above 5,700, likely target is 5,750-5,800, while below 5,650, likely support is 5,600-5,550”.

GEPL CAPITAL: “After several days, it managed to close above the previous high of 5655 and reversed the losing streak of more than a week. It may now retrace some of its losses and come up to 5750 and beyond that 5800 is a valid possibility. On the downside the range of 5600 to 5550 would continue to serve as an important support for Nifty. In the immediate term there is a minor resistance placed at 5712 for Nifty. Once it manages to sustain above 5712 the above mentioned range of 5750 to 5800 is possible”.

KARVY STOCK BROKING: “Long positions can be assumed in Consumer Durables, FMCG, IT, Metals and Pharma if the Nifty sustains above 5700 levels in the coming week. Short positions can be accumulated in Automobiles, Banking, Capital Goods, Cements and Energy if the Nifty slips below 5650 levels. Overall, we expect Nifty to trade in the range of 5550-5750 levels for the next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Markets might continue to be volatile until comfort emerges on domestic political stability and the Cyprus problem to the satisfaction of investors. Valuations have started becoming reasonable after a sizeable correction in the private financials and auto space. The telecom space looks attractive with policy overhang reducing and recent price hikes. Volatility should be used to buy quality stocks in consumer, pharma and IT on decline”.

ICICI SECURITIES: “Nifty held the stated support of 5600 and closed the month almost flat. Going ahead in the April series, major support still lies at 5600. However, the cautious approach should continue till the Nifty does not close above 5800. Only a close above 5800 may trigger closure of short positions. The banking index closed below its crucial resistance of 11500. We expect selling pressure to continue in the index till it does not sustain above these levels. On downsides, noticeable option base at 11000 Put strikes is expected to extend support”.

SMC TRADEONLINE (WISE MONEY): “Nifty below 5800 came under bear grip and panic was noticed especially in mid-cap stocks. Hereon Nifty is likely to find support at 5550 levels. As the structure of market is getting weaker, the strategy will be shifted to Sell on bounce”.

ANGEL BROKING (Technical): “The 'Downward Sloping Trend Line' and '200-day SMA' provided decent support to our benchmark indices. Despite a couple of decent attempts, the bears were unsuccessful in violating the strong support level of 18525/5600. In fact, indices managed to bounce sharply during the last hour of the week to register a weekly close marginally in the positive territory. We are now observing that the daily 'RSI' and 'Stochastic' oscillators have signalled a positive crossover. Hence, a move beyond Thursday's high of 18883/5693 may push indices higher to test next resistance levels of 19094-19210/5766-5820. On the flipside, we maintain our view that only a sustainable move below 18525/5600 would justify a bear case scenario and may drag indices lower to test 18255-17800/5548-5441 levels”.

IIFL (Amar Ambani): “Technically, the Nifty found support at the 38.20% retracement level for entire rally since May 2012 and 200-DMA placed at 5,624. We expect, the Nifty to continue with the upward momentum in the coming days. A close above 5,720 would further accelerate the bullish stances”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5600 and the resistance is 5720. If Nifty breaks 5600, it may further go down 5540 and then 5450. However, if Nifty is able to sustain above 5720, the level of 5750-5830 would become the next target”.

EASTERN FINANCIERS LTD.: “After a week of high volatility owing to political drama threatening early polls and continued global uncertainties, markets are expected to trade on a cautious note with a negative bias in the first trading week of the new financial year. Next week will see important economic as well as Sectoral data coming out and would be the chief determinant of the markets immediate trajectory, apart from the developments in the global economy as well as the domestic political scenario”.

INDIRATRADE SECURITIES: “Next week, Nifty likely to trade in the range between 5850-5900 in the upper side and 5550-5400 in the lower side”.

R K GLOBAL: “The last session of fiscal 2013, which coincided with the expiry of March series, made a surprise U-turn towards the end of the truncated week. Extremely poor global cues had a cascading effect on the indices. With the beginning of April series next week we could see a short term recovery with a negative bias. On the sector front Auto stocks could remain subdued for a major part of the April series”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 25.03.2013 TO 31.03.2013"

2013-03-24T16:18:00.006+05:30

The 30-share index, Sensex plunged 691.96 points or 3.56% over previous week to 18,735.6. On the other hand, the broad based NSE Nifty descended 221.25 points, or 3.77%, to 5,651.35.

VIEWS FROM DIFFERENT BROKING HOUSES:

DANI SECURITIES: “The market may remain volatile as traders roll over positions from the near-month April 2012 series to May 2012 series”.

HDFC SECURITIES: “After a sharp correction over the last few trading sessions, the Indian markets could register a small relief rally in the next week. However, it is likely to face stiff resistance at higher levels in the absence of any positive news domestically and uncertainty in the global markets. Probable range for Sensex during the next week is expected to be 18500-19200. Our downside targets are now at 5550. Any pullback rallies could find resistance at 5691”.

KOTAK SECURITIES (Sanjeev Zarbade): “As we enter April, the markets would look forward to the earnings season, government commitment on maintaining the reforms momentum and global cues. With valuation turning reasonable, investors should opt for buying quality stocks with credible management and sound corporate governance”.

CANARA BANK SECURITIES (CanMoney): “Technically, Nifty is moving towards oversold zone and a late rush may not be ruled out. Coming week the outlook remains very cautious and much would depend on the rollover to the next series (April). Beside these year end activities may also have significant bearing on our market”.

BONANZA ONLINE: “Nifty showed selling pressure for 2nd consecutive week. Nifty made long black candlestick on weekly charts. Bears are having control at the moment. Nifty has 200 dma at near 5625 levels. If Nifty holds 5625 levels then recovery may be seen else selling pressure may be continuing. For trading during the coming session, trend deciding level is 5650. If Nifty shows strength above 5650 levels then we may see rally till 5700/5750/5820/5870. If Nifty doesn’t maintain above 5650 levels then selling pressure till

5600/5550/5500/5460 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5640-5660	5740	5610
For the Week	Buy	5620-5670	5775	5580

GEPL CAPITAL: “Nifty has now breached the support of 5660 marginally. Unless it immediately reverses its losing streak there is a further risk of decline till 5600 and below that 5550 is a possibility. It now has initial resistance placed at 5710 and till the time it trades below this level the bearishness would continue. In the event of a move above 5710 it may further come up till 5780-5800 levels and in case the decline continues and it breaches the level of 5600 then it may come down further till 5550. The trend remains bearish till the time Nifty trades below 5710”.

KARVY STOCK BROKING: “Long positions can be assumed in FMCG, Pharma and IT if the Nifty sustains above 5600 levels in the coming week. Short positions can be accumulated in Realty, Automobiles, Capital Goods, and Banking if the Nifty slips below 5600 levels. Overall, we expect Nifty to trade in the range of 5500-5800 levels for the next week, with selling pressure expected on every rise towards 5750 levels”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Going ahead, the markets might continue to be volatile. However, most of the domestic concerns seem to be priced in. On the political front, the BJP has stated that it wouldn’t move a no-confidence motion. With the Parliament session now over, the government has a 3 month window to give a spurt to investment through fast clearances for large infrastructure projects and resolving power and oil/gas sector issues. Volatility should be used to buy quality stocks in consumer, pharma and IT on declines”.

ICICI SECURITIES: “Due to continuous writing seen among OTM Call strikes, we expect 5800 to remain the key resistance on the higher side. At the same time, immediate and crucial support for the Nifty is placed at 5600, below which selling pressure may extend sharply towards 5450-5500. The banking index has a major hurdle at 11500 where Call strike added noteworthy open interest during the week. A move above these levels may trigger a round of short covering. On downsides, the Put base at the 11000 strike is expected to act as immediate support”.

SMC TRADEONLINE (WISE MONEY): “The index witnessed a breakdown from levels of 5800 with rise in volatility index indicating weakness and fear in the market sentiments. The range of 5800-5500 will remain crucial in the near term. The Nifty has sustained below the crucial resistance of 5700. Short term indicators are indicating downward momentum to continue for the next support around 5550 levels”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 5650-5600 and the resistance to the up-move at 5750-5800”.

ANGEL BROKING (Technical): “Closing below the psychological level of 5700 in Nifty after nearly four 5700 months, has now confirmed a 'Lower Top Lower Bottom' formation for the first time after January 14, 2011 and indicates a probability of intermediate downtrend in the market. On the other hand, looking at the daily chart, it is clearly seen that indices are precisely trading at the 'Downward Sloping Trend Line' support level. This trend line is drawn by joining two significant lows of 19149/5823 (low of 19149/5823 December 18, 2012) and 18760/5663 (low of March 04, 2013). In addition, the '200-day SMA' is also placed around 18525/5620 level (the 200-day SMA level of Nifty precisely coincides with the trend line support; whereas in Sensex it is marginally lower). Considering these contra evidences, we are of the opinion that if indices close below 18525/5600 then we may witness continuation of the downtrend in coming weeks. In such a scenario, indices may test 18255-17800/5548-5441 levels. We specifically would advise traders not to initiate fresh short positions for this down leg. On the flipside, the daily chart now depicts a 'Spinning Top' Japanese candlestick pattern. The said pattern will be confirmed once indices close above Friday's high of 18860/5692. This is also supported by the extreme oversold condition of daily 'Stochastic' momentum oscillator. Hence, in such a scenario, indices may bounce towards 19083-19240/5758-5820 levels. The coming week is likely to trade with high volatility on account of March month derivative expiry. Moreover, the weekly closing can be very crucial as it will also provide a closing for the Quarterly charts”.

IIFL (Amar Ambani): “Markets succumbed to selling pressure amidst uncertainty on the political front and renewed concerns in the euro zone which led to close in Nifty below 5,700. With next week being a truncated one on account of Holi and Good Friday and the F&O expiry on Thursday, it is advised to remain cautious. However, one cannot ignore the importance of 200DMA which may act as a stiff resistance for the Nifty”.

INDIRATRADE SECURITIES: “Next week, Nifty likely to trade in the range between 5850-5900 in the upper side and 5550-5400 in the lower side”.

SHAREKHAN: “Nifty is expected to head lower till 5,600 with support around 5,620 and resistance around 5,715. the short-term bias for Nifty would remain negative for a target of 5,550 with reversal around 5,810”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 18.03.2013 TO 24.03.2013"

2013-03-17T17:35:00.003+05:30

The 30-share index, Sensex declined 255.67 points or 1.30% over previous week to 19,427.56. On the other hand, the broad based NSE Nifty dipped 73.10 points, or 1.23%, to 5,872.60.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty sliding lower after the bounce back seen on Monday, it seems markets are not willing to move up in a hurry. Markets could therefore consolidate in the coming week between the 5790-5950 levels. The bears could gain an upper hand if the 5790 supports are broken”.

KOTAK SECURITIES (Dipen Shah): “We expect the RBI to cut interest rates by about 25bps in its March 19 policy meeting. Further, interest rate cuts will depend on the RBI's assessment of the achievability of the fiscal deficit target and the fiscal reforms which the Government may undertake, going ahead. Initiatives in the core sectors will provide a leg-up to the infrastructure investments and assist growth”.

CANARA BANK SECURITIES (CanMoney): “Coming week the outlook remains very cautious and much would depend on the outcome of policy decision by RBI that could lead to any sustainable recovery”.

BONANZA ONLINE: “After showing strength in previous week, Nifty showed profit booking. Sentiment in coming week may depend upon RBI monetary policy and Nifty may decide direction accordingly. Selling pressure may be continuing below 5850 levels else recovery may be seen. For trading during the coming session, trend deciding level is 5850. If Nifty shows strength above 5850 levels then we may see rally till 5920/5975/6025/6075. If Nifty doesn’t maintain above 5850 levels then selling pressure till 5790/5725/5650/5600 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Sell	5910-5930	5865	5950
For the Week	Sell	5960-6000	5880-5840	6030

BONANZA PORTFOLIO (Rakesh Goyal): “Nifty is still near 5,875 level, which is positive in near term. Any positive news in the coming week can lead to further recovery. RBI’s monetary policy on 19th March is eyed for the coming week, while global cues shall be tracked too. Nifty has stiff resistance at 5,900-5,950 level and can face selling pressure on upsides. However, once this level is crossed decisively, market trend will be positive in near term”.

ICICI SECURITIES: “Due to substantial options base present at 5700 and 5800 Put strikes, we expect 5800 to act as immediate support. Below these levels, closure of positions may lead further declines towards previous lows of 5670. On the higher side, intermediate resistance is expected at 6000 where the highest Call base is placed since the starting of the series. The banking index has immediate resistance at 12200 while support may be witnessed at 11500. A move above 12200 may stretch the momentum towards 12500”.

SMC TRADEONLINE (WISE MONEY): “Overall market is waiting for new triggers from coming RBI policy meet scheduled on 19th March, 2013. Nifty has a strong buying support at 5800 levels, which is very crucial for bulls. On the index options front, lot of option selling was seen in the 5700-strike put option, which had more than 1 Crore shares in the open interest. Among the call options, the highest open interest continued at the 6000 strike, with aggregate open interest of 78 lakhs shares. For coming week, Nifty is expected to remain in the range of 5800-6000 levels”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 5835-5790 and the resistance to the up-move at 5960”.

ANGEL BROKING (Technical): “Only a sustainable move beyond this week's high of 19755/5971 would confirm the above mentioned pattern as well as the breakout from the probable 'Inverse Head and Shoulder' pattern. In such a scenario, we may witness strong buying interest among market participants. Indices may then resultantly rally towards 19768-19865/5991-6025 or even re-test the recent swing high of 20204/6112. Conversely, the week's low of 19179/5791 poses as a key support level in the coming trading sessions. Any sustainable move below this level would trigger immense pessimism in the market and indices may re-test recent swing lows of 18931-18760/5712-5663”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5840 and the resistance is 5910. If Nifty breaks 5840, it may further go down 5800 and then 5750. However, if Nifty is able to sustain above 5910, the level of 5980-6050 would become the next target”.

R K GLOBAL: “Early next week, domestic indices are likely to trade in a narrow range on caution ahead of the RBI's mid-quarter policy review on Tuesday. The central bank is widely expected to lower its benchmark repo rate by 25 basis points. A rate cut could spark gains after recent volatility in shares following the 2013/14 budget. We expect that 5800 is likely to hold as a support for the index even if the central bank withholds a rate cut. Bank stocks may remain subdued in the wake of the central bank's probe into allegations of private banks HDFC Bank, ICICI Bank, and Axis Bank indulging in money laundering”.

""WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 11.03.2013 TO 17.03.2013""

2013-03-10T12:30:00.000+05:30

The 30-share index, Sensex climbed 764.71 points or 4.04% over previous week to 19,683.23. On the other hand, the broad based NSE Nifty surged 226 points, or 3.95%, to 5,945.70.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty rallying further after closing above the 5850 resistances on Thursday, the bulls seem to be in control. Traders will now need to watch if the Nifty can convincingly take out the next intermediate highs of 5971 early next week. Weakness could emerge if the immediate supports of 5880 are broken”.

BONANZA ONLINE: “After 5 down weeks, Nifty closed in green. Nifty made bullish engulfing pattern on weekly charts which shows bulls are having control at the moment. Buying interest may be continuing above 5950 levels else profit booking may be seen. Traders may take delivery based position in good stocks with stoploss levels. For trading during the coming session, trend deciding level is 5950. If Nifty shows strength above 5950 levels then we may see rally till 6025/6075/6125/6175. If Nifty doesn’t maintain above 5950 levels then selling pressure till 5890/5825/5750/5700 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Sell	5980-5990	5020	6015
For the Week	Sell	6000-6040	5930-5890	6070

GEPL CAPITAL: “Nifty staged a massive comeback in the last week as it recovered from near the support of its 200 Day EMA. It has managed to give a convincing close above the 5850 mark which was the stop loss for recommended bearish positions. In doing so it has now entered neutral territory. In the coming days if it manages to take support near 5800 to 5850 range and rallies back higher beyond the now important resistance of 5970 then it may scale higher till the previous high of 6111. However failure to take the resistance level of 5970 and a sharp decline below 5800 would indicate that it may yet again slip into bearish territory. The price action of next few days would provide the cues to further moves. Thus important levels to watch out for in the coming days are 5970 on the upside and 5800 as a support”.

KARVY STOCK BROKING: “Long positions can be assumed in Banking, Capital Goods, Consumer Durables, Energy, Metals, Realty and Utilities if the Nifty sustains above 5930 levels. Short positions can be accumulated in Auto, Cement and IT if the Nifty slips below 5930 levels. Overall, we expect Nifty to trade in the range of 5850-6100 levels for the next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “We recommend investors to accumulate quality blue chip stocks with medium to long term perspective, as India continues to remain an attractive equity investment destination. We recommend investors to focus on rate-sensitive sectors like banking, auto etc. and on quality stocks in reform led sectors like oil and gas sector and media. At the same time, investors should look at an opportune time to accumulate stocks in defensive sectors like FMCG, IT and Pharma sectors”.

ICICI SECURITIES: “The Nifty has major support placed at 5820. On the higher side, intermediate resistance is expected at 6040 above which the Nifty may try to test 6100. The banking index has immediate resistance at 12500 while support may be witnessed at 12050. A move below 12050 may stretch the downward momentum towards its 11800”.

ANGEL BROKING (Technical): “Indices have precisely taken a support at the 'Downward Sloping Trend Line'. This bullish pattern is now supported by the positive crossover in the daily 'ADX (14)' indicator and the weekly 'Stochastic' oscillator. Also, last week we had mentioned that the weekly 'RSI' momentum oscillator has moved below the 50 mark. Nevertheless, this week it has managed to jump back convincingly to close above the 58 level. This indicates possibility of a further upside move if indices sustain above 19706/5953. In this scenario, the markets may rally towards 19768-19865/5991-6025 or even re-test the recent swing high of 20204/6112. On the flipside, the '89-day EMA' and the '20-day EMA' would now provide decent support to the markets. These are placed at 19250/5830 and 19348/5850 respectively. A sustainable move below 19195/5795 would once again trigger pessimism in the market”.

IIFL (Amar Ambani): “Recent weak trend in WPI has been followed by a dismal Q3 FY13 GDP growth of 4.5% (v/s 5.3% in Q2 FY13). IIP was negative for second consecutive month; another indication of weakening growth. Increase in average LAF borrowing from ` 922 billion in Jan '13 to ` 1,098 billion in Feb '13 indicates liquidity tightening in the system. These factors along with a need to revive investment cycle are likely to persuade RBI to consider growth over inflation. Thereby, we expect repo-rate cut of 25 bps in the forthcoming monetary policy review”.

RELIGARE SECURITIES: “Technically, Nifty has formed bullish engulfing candlestick pattern on the weekly chart which indicates positive bias to continue in the near future. Considering the pace of inclination, we might see more of stock specific move in the coming days while index may witness muted performance with overall positive bias. Going ahead, 6,020-6,100 will be crucial resistance on the higher side while 5,800-5,870 will provide the need support in case of any decline”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 04.03.2013 TO 10.03.2013"

2013-03-03T14:46:00.000+05:30

The 30-share index, Sensex plunged 398.49 points or 2.06% over previous week to 18, 918.52. On the other hand, the broad based NSE Nifty dropped 130.6 points, or 2.23%, to 5,719.70.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “While the Nifty has bounced back on Friday, the underlying trend remains down. Immediate downside targets for the Nifty are at 5649, which coincides with the 200-day EMA. Further downside targets are seen at 5600-5550 once 5649 levels are broken. Any rallies in the coming week could find resistance at 5775”.

CANARA BANK SECURITIES (CanMoney): “Immediate downside targets for the Nifty are at 5649, which coincides with the 200-day EMA. Further downside targets are seen at 5600-5550 once 5649 levels are broken. Any rallies in the coming week could find resistance at 5775”.

BONANZA ONLINE: “Nifty showed selling pressure for 5th consecutive week. Bears are having control at the moment. Selling Pressure may be continuing below 5700 levels. If Nifty maintains above 5700 levels then recovery may also be seen. For trading during the coming session, trend deciding level is 5700. If Nifty shows strength above 5700 levels then we may see rally till 5760/5850/5925/5960. If Nifty doesn’t maintain above 5700 levels then selling pressure till 5650/5600/5550/5470 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5700-5720	5770	5680
For the Week	Buy	5680-5720	5800-5835	5650

BONANZA PORTFOLIO (Rakesh Goyal): “In coming sessions, 5,680 shall be crucial deciding level in near term, and index is likely to witness further selling below this level. Below 5680, likely target is 5,625-5,550, while above 5,765, likely target is 5,815-5,850”.

GEPL CAPITAL: “Now, Nifty may face severe resistance near 5750 on a bounce back. Once again any bounce back should be treated as an opportunity to short sell Nifty for a target of 5600 over the next few days. Long positions are still not recommended at this juncture”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto, IT, FMCG, Cement and Energy if the Nifty sustains above 5750 levels. Short positions can be accumulated in Banking, Consumer Durables, Capital Goods, Metals and Utilities as long as the Nifty stays below 5750 levels. Overall, we expect Nifty to trade in the range of 5550-5800 levels for the next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Overall the budget can be construed as a balanced one. There isn’t anything in the budget which could excite the investors/traders immediately. However it is good from a medium term perspective given the constraints and therefore any weakness in the markets should be used as an opportunity to accumulate quality stocks”.

ICICI SECURITIES: “The Nifty has immediate support placed at 5640. Intensified selling pressure may be seen towards 5520 if the Nifty does not hold these levels. On the higher side, major hurdle for the index lies at 5760/5820 levels. The banking index remained a major laggard of the market and closed near its highest Put base of 11500. A breach of these levels may trigger another round of selling pressure towards its 200 DMA of 11200 levels. On the higher side, 11800 may act as immediate hurdle”.

SMC TRADEONLINE (WISE MONEY): “The Nifty is expected to remain in the range of 5600-5800 levels. The sustenance of 5600 levels in the near term is extremely crucial for any further recovery in the markets. However, in our view, in the current scenario, the Index is expected to see stiff resistance at around 5800-5850 levels, while a sustained move below the 5600 mark should take Nifty down to 5500 levels”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically, the market is still down unless it closes above 5850. The crucial support for the Nifty is at 5645-5535 and the resistance to the up-move at 5750”.

ANGEL BROKING (Technical): “For the sixth consecutive week, our benchmark indices have closed in the negative territory. As mentioned in our January 25, 2013 weekly report, the bearish impact of the 'Hanging Man' (at market top) Japanese candlestick pattern is now clearly seen. Indices have now finally broken down below the 19149/5823 mark, which has been acting as a crucial support level. This level also coincides with the '89-day EMA' and the '20-week EMA'. Since the February month is over, the monthly chart now depicts a 'Bearish Engulfing' pattern. This pattern has a bearish implication but needs a confirmation. In addition, the monthly momentum oscillators are signalling a negative crossover. Also, the weekly 'RSI' momentum oscillator has now sneaked below the 50 mark. RSI level dropping below 50 from the upside is an additional sign of caution for the bulls. On the contrary, indices have now precisely closed above the support level of the 'Downward Sloping Trend Line'. Hence, the impact of all the above mentioned negative technical evidences would be seen once indices sustain below this week's low of 18793/5671. In this scenario, indices are likely to fall towards 18450-18255/5600-5548 levels. On the flipside, this week's high of 19412/5879 would now act as a crucial resistance in the coming week. Only a move beyond this level may nullify the impact of negative technical evidences. With such a move the markets may rally towards 19768-19865/5991-6025 levels”.

IIFL (Amar Ambani): “With the Budget out of the way, market participants will look at the global cues for further direction. A global risk-off may further accentuate selling pressure in near term. However, with indices at oversold levels, a lot of beaten down large-caps may attract investors”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5635 and the resistance is 5750. If Nifty breaks 5635, it may further go down 5600 and then 5540. However, if Nifty is able to sustain above 5750, the level of 5800-5880 would become the next target”.

SHAREKHAN: “The Nifty’s short-term bias would remain negative for a target of 5660 with reversal around 5880. The key support will be at around 5679 and resistance will be at 5762”.

R K GLOBAL: “As the uncertainty on the taxation issue abates we might witness some pull back in the market during the next week”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 25.02.2013 TO 03.03.2013"

2013-02-24T22:09:00.001+05:30

At the close, the 30-share index, Sensex declined 151.14 points or 0.78% over previous week to 19,317.01. On the other hand, the broad based NSE Nifty dropped 37.10 points, or 0.63%, to 5,850.30.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty ending flat, the 5823 lows of the Nifty continue to remain in focus. These are crucial levels to watch as a close below these levels would lead to a larger correction and possibly a testing of the 5600 levels on the Nifty over the next few weeks”.

KOTAK SECURITIES (Sanjeev Zarbade): “For the next week, markets would be waiting for the union budget to be presented on Thursday. our advice to investors would be to follow a proper mix between large caps and mid-caps, with higher weightage on large cap companies. Risk to markets would be rise in crude prices and slowdown in foreign fund flows”.

CANARA BANK SECURITIES (CanMoney): “Uncertainty will continue to prevail in the coming days as investors prefer to remain cautious ahead of the Union Budget to be presented in the Parliament on 28 February 2013. It’s going to be a make or break budget for the Indian market as expectations would be sky high from the government. Outlook remains very cautious and much would depend on the outcome of policy decision in budget that could lead to any sustainable recovery”.

BONANZA ONLINE: “Nifty showed selling pressure for 4th consecutive week. Nifty Feb Future expiry, Rail Budget and Union Budget events due in coming week and volatility may be continuing. Bears are having control at the moment. Selling Pressure may be continuing below 5850 levels. If Nifty maintains above 5850 levels then recovery may also be seen. For trading during the coming session, trend deciding level is 5850. If Nifty shows strength above 5850 levels then we may see rally till 5900/5960/6000/6050. If Nifty doesn’t maintain above 5850 levels then profit booking till 5800/5760/5700/5650 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5820-5840	5880	5800
For the Week	Buy	5800-5840	5900-5940	5770

BONANZA PORTFOLIO (Rakesh Goyal): “Nifty is already below its major uptrend line and also struggling to sustain above 5850-5825 support level. Technically, it is showing weakness below 50-EMA level. In coming sessions, 5,825 shall be crucial deciding level in near term, and index is likely to witness further selling below this level. Below 5,825, likely support levels are 5,780-5,730, while above 5880, likely target is 5,925-5975”.

GEPL CAPITAL: “Nifty ended the day almost flat at 5850. It is now near the make or break support of 5850, however it appears highly likely that the support may be broken in the next few sessions and Nifty may witness a severe sell off till 5700 and below that 5565 is a possible downside target for Nifty on a positional basis. On the higher side any counter trend bounce would face severe resistance near 5900 and beyond that the level of 5970 appears like a very formidable resistance to cross. We advise short selling on a bounce till 5900 with a stop loss of 5970 for a downside target till 5715 and below that 5565 over the next few weeks. High caution is advised for Nifty long positions at this juncture”.

KARVY STOCK BROKING: “Long positions can be assumed in Realty, Healthcare, Energy, Power and IT if the Nifty sustains above 5900 levels. Short positions can be accumulated in Banking, Capital Goods, Cement, Metals, and Utilities if the Nifty breaches 5800 levels. Overall, we expect Nifty to trade in the range of 5800-6000 levels for the next week. However, a breakthrough of this range would lead to high volatility in the market”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Investors will keep a vigil on the Union Budget…..a non–expansionary and progressive budget, with contained fiscal deficit and elements to take the economy back on the accelerated growth path. This could lead to a rally in March. The correction in the market is an opportunity for the investors to get into the market. We recommend investors to buy quality stocks with focus on rate-sensitive sectors like Financials, Auto, reforms-led sectors like Oil and Gas and Media. With revival in US economy, IT can emerge as an dark horse for FY14”.

ICICI SECURITIES: “The Nifty has immediate and major support placed around 5800-5820. Intensified selling pressure may be seen towards 5700 below these levels. On the higher side, a round of short covering is expected only above 5900. However, volatile movement can be expected due to events like the Union Budget and countdown to the fiscal cliff expected in the coming sessions. The banking index was the major laggard last week and closed near its important support placed at its 100 DMA of 12050. Breach of 12000 may trigger closure of leveraged positions, which may trigger further selling pressure. On the higher side, only a move above 12250 may trigger a round of short covering”.

SMC TRADEONLINE (WISE MONEY): “If the Index slips below the 5820 level, it could gradually slide to 5700 levels. Conversely, a sustained move beyond 5850 levels should see Nifty climbing 6000 levels. Technically, the Index continues to trade below all its short term moving averages, indicating a bearish scenario. On the contrary, sustaining 5850 levels is extremely crucial for a continued uptrend. Nifty basis turned in to discount”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically, the market is still weak and is now at make or break levels and we now head into the budget week with F&O expiry playing us all. The breach of 5835 would be bad for the sentiments while I would say this a very good time for Volatility with strong resistance around 5950 zones. The crucial support for the Nifty is at 5835-5775 and the resistance to the up-move at 5900-5950”.

ANGEL BROKING (Technical): “Despite a decent up move in the first half, eventually the week turned out in the favour of the bears. Indices faced tremendous selling pressure near the resistance of the '20-day EMA' placed around 19723/5970. Further, 19723/5970 a strong fall in Thursday's session has resulted in a breakdown from the 'Upward Sloping Trend Line' drawn by joining two significant recent swing lows of 19149/5823 (December 18, 2012) and 19381/5853 (February 15, 2013). In Nifty, the prices have marginally traversed the trend line; whereas in Sensex, the prices have convincingly closed below the trend line level. Going forward, 19149/5823 may act as a crucial support for our market. Any sustainable move below this level would certainly trigger immense pessimism in the market. In this scenario, indices may slide towards 18973-18600/5777-5650 levels. On the upside, the weekly high of 19742/5971 would act as a resistance in the coming trading sessions. Only a move beyond this level may nullify the impact of negative technical evidences. In this case, indices may then rally towards 19768-19865/5991-6025 levels. The coming week is likely to trade with high volatility on account of February month derivative expiry and announcement of Union Budget. Thus, we advise traders to trade with strict stop losses”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5820 and the resistance is 5930. If Nifty breaks 5820, it may further go down 5800 and then 5720. However, if Nifty is able to sustain above 5930, the level of 5980-6010 would become the next target”.

INDIRATRADE SECURITIES: “With the Nifty ending flat, the 5823 lows of the Nifty continue to remain in focus. These are crucial levels to watch as a close below these levels would lead to a larger correction and possibly a testing of the 5650 levels on the Nifty. Next week, Nifty likely to trade in the range between 5920-6000 in the upper side and 5780-5700 in the lower side”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 18.02.2013 TO 24.02.2013"

2013-02-17T14:49:00.000+05:30

At the close, the 30-share index, Sensex declined 16.62 points or 0.09% over previous week to 19,468.15. On the other hand, the broad based NSE Nifty dropped 16.10 points, or 0.27%, to 5,887.40.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “Although the Nifty has recovered from the lows of Friday after breaking the 5880 supports intraday, the underlying trend remains weak. A move below 5880-5854 would confirm further weakness in the coming week and lead to a testing of our immediate downside targets at 5840”.

CANARA BANK SECURITIES (CanMoney): “As Nifty has been trading into extreme oversold condition, chances of further decline remain unlikely. Adding to it, with distress selling in the broader markets, investors’ sentiment has dampened significantly and with market trading light ahead of budget, sharp rally towards 6050 is not ruled out. Technically, Nifty may trade in the range of 5830-6000 in short term”.

BONANZA ONLINE: “Nifty showed selling pressure for 3^rd consecutive week. Selling Pressure may be continuing below 5900 levels. If Nifty maintains above 5900 levels then recovery may also be seen. For trading during the coming session, trend deciding level is 5900. If Nifty shows strength above 5900 levels then we may see rally till 5960/6000/6050/6125. If Nifty doesn’t maintain above 5900 levels then profit booking till 5840/5800/5760/5700 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5880-5900	5940	5860
For the Week	Buy	5870-5910	5980-6020	5840

BONANZA PORTFOLIO (Rakesh Goyal): “Expectations and speculations ahead of Budget session, starting from February 21, may lead to some recovery. Investors must play cautiously as volatility could be high in coming weeks. In coming sessions, 5,825 levels shall be crucial deciding level in near term, and index is likely to witness further selling below this level. Below 5,825, likely target levels are 5,770-5,730, while above 5,950, likely target is 5,970-6,000”.

GEPL CAPITAL: “Nifty has been declining since past three weeks but is now trading near an important support of 5850. There is a possibility of a halt to the current decline near 5850 levels and a counter trend bounce may be seen which may take it higher till 5950 and beyond that 5980 is a possibility. However such a bounce back may not sustain for long as Nifty has breached a vital trend Line and may again succumb to selling pressure over the next eight to ten sessions. However in the immediate term it may register a bounce back as it is now highly oversold on the charts and is nearing a support range”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto, Private Banks, Pharma, and IT if the Nifty sustains above 5900 levels. Short positions can be accumulated in PSU Banks, Capital Goods, Cement, Realty, Metals, and Utilities if the Nifty trades below 5900 levels. Overall, we expect Nifty to trade in the range of 5800-6000 levels for the next week. However, volatility is likely to remain in absence of strong triggers”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “With WPI inflation coming lower-than-expected at 6.62% and the budget likely to focus on fiscal consolidation and boosting investment, the likelihood for further interest rate cuts is getting stronger. Global liquidity continues to be strong which should enable continued strong FII flows. The correction in the market is an opportunity for investors to get into the market. We recommend investors to buy quality stocks with focus on rate-sensitive sectors like Financials and Auto, and reforms-led sectors like Oil & Gas and Media”.

ICICI SECURITIES: “The Nifty has immediate resistance placed at 5940 levels. Inability to close above 5940, may induce profit booking towards 5840/5800. Short covering is expected only above 5940 towards 6000 levels. Despite prevailing weakness in the broader market, the Bank Nifty did not breach its previous week lows of 12245. A move below these levels may trigger closure of positions towards 12000. On the higher side, 12500 will remain a crucial resistance for the banking index”.

EASTERN FINANCIAL SERVICE: “Markets next week are likely to remain range-bound as we approach the fag-end of the third Quarter earnings and with the Union and the Railway budget set to come the week after, investors are expected to remain cautious with their exposure to the market. Also, the participants will keep a close eye on the Budget Session of parliament that begins on Feb-21”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically, the market seems trapped and is finding it difficult to cross the 6100 mark. So there is a chance that the market may slip to around 5970-5920 zones. The crucial support for the Nifty is at 5820 and the resistance is at 5930-5980”.

ANGEL BROKING (Technical): “Negative results from SBI put the spanner in the works and eventually the market closed the week on a negative note. Indices are now heading towards strong support of '20-week EMA' which is placed at 19190/5820. This level also coincides with the weekly swing low of 19149/5823 (low of weekly candle on December 21, 2012). Hence, it can be considered as a decent support level. However, the weekly 'RSI-Smoothened' oscillator and the '3 & 8 EMA' are negatively poised. The impact of these technical evidences would be seen once indices sustain below 19149/5823. In this scenario, we may witness a corrective move towards 19000-18870/5800-5735 levels. On the flipside, this week's high of 19723/5970 continues to act as strong resistance. Only a move beyond this level may nullify the impact of negative technical evidences. In this case, indices may then rally towards 19768-19865/5991-6025”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5870 and the resistance is 5950. If Nifty breaks 5870, it may further go down 5840 and then 5800. However, if Nifty is able to sustain above 5950, the level of 6030-6120 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5950-6100 in the upper side and 5850-5700 in the lower side”.

SHAREKHAN: “The Nifty has completed a five wave on the downside and is now expected to bounce for a 61.8% retracement till 6022 level, with reversal around 5877. The key supports in the immediate run will be around 5853 and resistance will be at 5900”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 11.02.2013 TO 17.02.2013"

2013-02-10T16:00:00.003+05:30

At the close, the 30-share index, Sensex fell sharply 296.42 points or 1.5% over previous week to 19,484.77. On the other hand, the broad based NSE Nifty dropped 95.40 points, or 1.59%, to 5,903.50.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “Benchmark indices may turn volatile in the coming week amid various economic data points to be announced. A host of results will continue to flow in. But the market looks unlikely to stage any major rally in the coming week. Our downside targets for the Nifty are at 5,840. Any rallies in the coming week could find resistance at 5950-5980”.

BONANZA ONLINE: “Nifty made long black candlestick pattern on weekly charts, which shows that bears are having control at the moment. Selling pressure may be continuing below 5900 levels. On downside, Nifty has some support near 5800 levels. If Nifty holds support level then recovery may also be seen. For trading during the coming session, trend deciding level is 5900. If Nifty shows strength above 5900 levels then we may see rally till 5960/6000/6050/6125. If Nifty doesn’t maintain above 5900 levels then profit booking till 5840/5800/5760/5700 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5900-5920	5960	5880
For the Week	Buy	5800-5910	5980-6020	5840

BONANZA PORTFOLIO (Rakesh Goyal): “Weak GDP numbers have dampened the market sentiment, however, any positive cues from global markets may help in recovery. In coming sessions, 5,900 level shall be crucial deciding level in near term, and index is likely to witness further selling below this level. Below 5,900, likely support levels are 5,850-5,820, while above 5,950, likely target is 6,000-6,025”.

GEPL CAPITAL: “We continue to maintain a downside target of 5850 over the coming weeks. In the immediate term the level of 550 would now serve as a severe resistance on any bounce back attempts and beyond that 5980 is the next critical resistance on the upside. Fresh longs are still not recommended on a positional basis at present juncture as Nifty still appears bearish with an impending target of 5850 in the immediate term”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto and IT if the Nifty sustains above 5900 levels. Short positions can be accumulated in Banking, Capital Goods, Cement, Realty, Metals, Pharma and Utilities if the Nifty breaches 5900 levels. Overall, we expect Nifty to trade in the range of 5850-6000 levels for next week. However, a breakthrough of this range would lead to high volatility in the market”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Investors will keep a vigil on the Union Budget…..a non–expansionary and progressive budget, with contained fiscal deficit and elements to take the economy back on the accelerated growth path. This could lead to a rally in march. The correction in the market is an opportunity for the investors to get into the market. We recommend investors to buy quality stocks with focus on rate-sensitive sectors like Financials, Auto, reforms-led sectors like Oil and Gas and Media. With revival in US economy, IT can emerge as an dark horse for FY14”.

ICICI SECURITIES: “The Nifty has immediate resistance at 5940. If the Nifty is unable to move above this level then it could topple to 5800. In such a scenario, leverage closure could also magnify selling pressure. The index gave up its out-performance trend as it fell close to 4% during the week. The index has closed at 12280, which is the lowest close since December, 2012. Major resistance for the index is at 12500, which was the major support in the January series. The index is heading towards its highest Put placed at 12000”.

SMC TRADEONLINE (WISE MONEY): “The Nifty is expected to trade down trending in coming weeks and the sharp move may cause the rise in volatility. Hereafter the range of 5800-6000 will remain crucial in the near term, and the movement is expected to remain volatile”.

ANGEL BROKING (Technical): “The sharp fall during the last half an hour on Friday has now confirmed a breakdown of the 'Upward Sloping Channel' on the daily chart. Please note that the Sensex has not yet confirmed a breakdown of the 'Upward Sloping Channel' pattern. Also Indices have now precisely tested 78.6% Fibonacci retracement level of the rise from 19149/5823 (low on December 18, 2012) to 20204/6112 (high on January 29, 2013). Considering the Channel pattern breakdown and negative placement of weekly momentum oscillators, we can infer that indices may experience a severe correction in the coming week if they manage to sustain below this week's low of 19414/5883. In this scenario, we may witness a corrective move towards 19000-18870/5800-5735 levels. On the flipside, 19648-19768/5953-5991 levels would act as strong resistance for our benchmark indices”.

IIFL (Amar Ambani): “Benchmark indices may turn volatile in the coming week amid various economic data points to be announced. The IIP numbers will be announced next week. The other data points are WPI, import-export numbers for the month and CPI. A host of results will continue to flow in. But the market looks unlikely to stage any rally in the coming week”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 6050-6150 in the upper side and 5750-5700 in the lower side”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 04.02.2013 TO 10.02.2013"

2013-02-03T13:58:00.001+05:30

At the close, the 30-share index, Sensex fell sharply 322.34 points or 1.6% over previous week to 19,781.19. On the other hand, the broad based NSE Nifty dropped 75.75 points, or 1.25%, to 5,998.90.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty sliding lower this week, markets are showing signs of tiredness. Traders will keep a watch on the recent lows of 5988. If these levels fail to hold in the coming week, then a further correction can be expected that could take the Nifty towards the next major supports at 5940”.

KOTAK SECURITIES (Dipen Shah): “Post the RBI policy meeting, the focus is now expected to shift to other domestic and global cues, especially the US debt ceiling and spending cut issues. The up-comingbudget will also take the market's attention. The FM has indicated that, the budget will be a responsible budget which may entail a reduction in fiscal deficit target. While this is positive, we need to wait for the finer details and assumptions behind the same”.

BONANZA ONLINE: “After making doji candlestick pattern previous week, Nifty showed selling pressure, which shows bears are having control at the moment. Selling pressure may be continuing below 6000 levels. However, If Nifty maintains above 6000 levels then recovery may also be seen. Traders should not make delivery based positions in stocks, if Nifty unable to maintain above 6000 levels. For trading during the coming session, trend deciding level is 6000. If Nifty shows strength above 6000 levels then we may see rally till 6060/6115/6175/6225. If Nifty doesn’t sustain above 6000 levels then profit booking till 5940/5890/5825/5750 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	6020-6030	6070-6080	5990
For the Week	Buy	6000-6030	6105-6150	5970

BONANZA PORTFOLIO (Rakesh Goyal): “Nifty is seen consolidating in a narrow range of 5,940-6,100 now. Till Nifty trades above 5,940, near term up-trend is intact and buying may be considered in dips. In coming week, 5,940 levels shall be crucial deciding level in near term, and index is likely to witness further selling below this level. Below 5,940, likely support levels are 5,870-5,820, while above 6,025, likely target is 6,100-6,150”.

GEPL CAPITAL: “Now the immediate support for Nifty is placed at 5940 and it is expected to achieve in the next week. On the higher side, the zone of 6030-6050 may provide strong resistance if bounce back is seen. A probability of short term downtrend is visible until Nifty is trading below 6120 level. A RSI in daily chart has turned downwards supporting short term downtrend in the S&P CNX Nifty. An intermediate trend of Nifty is up until it is trading above 5750 level”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto, FMCG, IT, Energy, Pharma and Realty if the Nifty sustains above 5950 levels. Short positions can be accumulated in Cements, Capital Goods, Consumer Durables, and Metals if the Nifty breaches 5950 levels. Overall, we expect Nifty to trade in the broad range of 5950-6100 levels for next week. However, a decisive move below 5950 levels would exacerbate the sentiment”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Our markets continue to look good. We remain positive going into the budget. We advise buying quality stocks with every fall in the markets. Out-performance is likely in the sectors of Financials and media and stocks with institutional under-ownership”.

ICICI SECURITIES: “Major support for the Nifty lies at 5950 below which long liquidation may bring the Nifty towards its second highest Put base of 5800. At the same time, a move above 6050 may bring renewed buying interest towards 6200. The Bank Nifty continued to trade in a range and witnessed selling pressure around 12850. However, crucial support for the banking index lies at 12500, which is also the highest Put base for the index. A move above 12850 may bring short covering in towards 13200 levels”.

ANGEL BROKING (Technical): “Despite a favourable outcome from the RBI's Monetary Policy, indices struggled to sustain at higher levels. Strong selling pressure near the week's high ultimately dragged indices lower to close marginally below last week's low 19884/6007. This has confirmed the bearish implication of the 'Hanging Man' Japanese candlestick pattern mentioned in our previous report. Also, our benchmark indices have also managed to close below the '20-day EMA' for the first time after November 26, 2012. This is also a sign of weakness. In addition there is a negative crossover in weekly 'RSI' momentum oscillators and the daily 'ADX (9)' indicator. Considering all the negative technical evidences, we expect continuation of the negative momentum in the coming week as well. In this scenario, indices are likely to slide towards their next support levels of 19596-19406/5940-5897. Conversely, this week's high of 20204/6112 would now act as resistance in the coming trading session. Only a sustainable move above this level would negate the bearish implication of the 'Hanging Man' pattern. We advise traders to trade with strict stop losses and any intraweek bounce can be used as exit opportunity for existing long positions.”.

IIFL (Amar Ambani): “With the RBI policy out of the way, the coming week would see some more stock-specific action as the quarterly numbers come in. With the start of February, market expects a run-up to the budget. The near term support for the Nifty remains at 5,965 levels. A move below the critical level would see selling pressure intensify in the near term which could open gateway towards 5,750”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5950 and the resistance is 6090. If Nifty breaks 5950, it may further go down 5910 and then 5820. However, if Nifty is able to sustain above 6090, the level of 6120-6180 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 6100-6150 in the upper side and 5900-5850 in the lower side”.

SHAREKHAN: “Nifty is now expected to head lower till 5960 with resistance around 6043 in the short term. The key supports in the immediate run will be around 5980 and resistance will be at 6043”.

RAJATKBOSE.COM (Rajat Bose): “Major support as of now, in the Nifty, in case it falls below 5988 would be seen between 5965 and 5943 while on the upside major supply zone is located between 6093 and 6114. Only if 6114 is crossed in sustained high volume purchases we can expect 6140 through 6150 being tested”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 28.01.2013 TO 03.02.2013"

2013-01-27T16:55:00.000+05:30

At the close, the benchmark 30-share index, BSE Sensex gained 179.75 points or 0.90% at 20103.53 on daily basis and 64.49 points on weekly basis. Meanwhile, the broad based NSE Nifty climbed by 55.30 points or 0.92% at 6,074.65 on daily basis on Friday and only 10.25 points on weekly basis.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty holding above the 6010 levels and rallying smartly, the bulls seem to have made a comeback. The uptrend is likely to accelerate in the coming week once the Nifty crosses the recent highs of 6094. Upside targets in this scenario are at 6150”.

CANARA BANK SECURITIES (CanMoney): “Nifty breached its consolidation and any moving above 6100 may be taken as fresh buying trigger for short term. Though OI build-up is restricted to in the money positions as supported by lower value of VIX too. VIX is continued to be quoted at multi-year low which indicates that Nifty has lower odds for trend reversal”.

BONANZA ONLINE: “Nifty showed indecision during the week. Nifty is trading in 6000-6100 range. Until Nifty decisively maintain above 6100 below 6000 levels, volatility may be continuing. RBI policy in this week may play important role in sentiment preparation. Traders should be cautious. For trading during the coming session, trend deciding level is 6050. If Nifty shows strength above 6050 levels then we may see rally till 6100-6125/6175/6225. If Nifty doesn’t sustain above 6050 levels then profit booking till 6000/5950/5900/5860 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	6050-6060	6105-6120	6025
For the Week	Buy	6030-6060	6125-6150	6000

GEPL CAPITAL: “We maintain the view of exiting from long positions and recommend caution at present levels. The level of 5990 is now an immediate important support and the same may be placed as a stop loss for any existing long positions. Any breach of 5990 may drag the Nifty down till 5900 to 5850 range. On the higher side the level of 6105 would now serve as a resistance for Nifty. Even if 6105 is surpassed the rally may remain limited to 6139. We maintain a cautious view and recommend profit taking in any bounce till 6080 or a rise till 6139”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto, Banking, Capital Goods, Consumer Durables, FMCG, IT, Pharma and Telecom if the Nifty sustains above 6000 levels. Short positions can be accumulated in Cements and Utilities if the Nifty breaches 5950 levels. Overall, we expect Nifty to trade in the broad range of 6000-6150 levels for next week. A breakthrough of this range would lead to sharp momentum in the Index”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Next week, markets will keenly await the outcome of the RBI monetary policy meet. There are high expectations of a policy rate cut. Thus, if RBI keeps interest rates unchanged, markets are likely to see a sharp sell-off. A 25bps cut would be marginally negative in the short term as the market has already priced that in while a 50bps cut would be positive for the markets as it would provide a boost to investor sentiment and economic growth”.

ICICI SECURITIES: “An immediate support for the Nifty is at 5980. Despite ongoing jitters, the Nifty remained above 6000. We expect the positive bias to remain in the Nifty till it sustains above these levels. On the higher side, 6180 should act as stiff resistance. The Bank Nifty continued to find support at 12500 levels last week and exhibited a strong bounce back. We believe these levels will remain critical for the banking index whereas 12850 should remain an immediate hurdle for the banking index. Above this, it may test 13200”.

SMC TRADEONLINE (WISE MONEY): “On the technical front, Nifty has strong support at 5950-6000 levels. Going forward, it is expected that Nifty would trade in the range of 5900-6100 till volatility kicks into the market”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 6000 and the resistance is at 6100-6180”.

ANGEL BROKING (Technical): “The market breadth is still significantly weak and we continue to mention key resistance levels as 20164/6102 for the week ahead. The weekly chart now depicts a candlestick pattern which resembles a 'Hanging Man'. The said pattern has a negative implication and requires a confirmation in the form of closing below the low i.e. 19884/6007. Also the negative divergence on the RSI momentum oscillator on the daily chart is still intact and has bearish implications. Further, on Tuesday, the RBI is going to announce the 'Monetary Policy' and any disappointment may trigger pessimism in the market. A close below 19884/6007 would indicate a further fall and indices may slide towards the 19596-19406/5940-5897 levels. On the other hand, the 20164/6102 level continues to be a still resistance for the market. We continue to remain cautious and advise traders to reduce their long positions and book partial profits in individual stocks near to the 19950-20100/6070-6125 mark”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 6150-6200 in the upper side and 5950-5900 in the lower side”.

SHAREKHAN: “Nifty is now expected to head lower till 5900 with resistance around 5977 in the short term. The key support in the immediate run will be around 5900 and resistance will be at 5977. The Nifty’s short-term bias has changed to negative for a target of 5850. The medium-term outlook remains positive with reversal at 5823, as the index has started forming higher tops and higher bottoms on the weekly chart. It has also formed a bullish island with support around 5649”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 21.01.2013 TO 27.01.2013"

2013-01-20T17:32:00.003+05:30

At the close, the benchmark 30-share index, BSE Sensex gained 75.01 points or 0.38% at 20,039.04 with 16 components posting rise. Meanwhile, the broad based NSE Nifty climbed by 25.20 points or 0.42% at 6,064.40 with 25 components posting rise.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty moving up further, the underlying trend remains firmly up. The uptrend is likely to accelerate in the coming week if the Nifty can convincingly cross the recent highs of 6068. Upside targets in this scenario are at 6100-6150”.

BONANZA ONLINE: “Nifty made long white candlestick pattern on weekly chart, which shows that’s bulls again have taken control after previous week selling. Nifty may face psychological resistance at 6100 levels and traders should be cautious near this level. Buying interest may be continuing above 6100 levels else profit booking may be seen. For trading during the coming session, trend deciding level is 6050. If Nifty shows strength above 6050 levels then we may see rally till 6100-6125/6175/6225. If Nifty doesn’t sustain above 6050 levels then profit booking till 6000/5950/5900/5860 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	6050-6060	6105	6025
For the Week	Buy	6030-6060	6125-6150	6000

BONANZA PORTFOLIO (Rakesh Goyal): “Nifty surged to make new 52-week high in this week at 6083.40 and closed above 6050 level which is a positive indicator. Increase in diesel price can lead to higher inflation in coming months, and still puts a question on whether the RBI may still put hold on rate cuts. Technically too, 6050-6150 being key resistance zone, volatility may be witnessed in coming sessions. In coming week, 6075 shall be key deciding level. Above 6075, likely targets are 6150-6175, while below 6025, support may be found at 5990-5950”.

GEPL CAPITAL: “The immediate resistance for Nifty is 6100 above which sharp movement may be observed till 6150-6200 mark. The level of 6000 may act strong support if any correction is seen in the next week. Only in case of breach of 5950, which is current short term intermediate level, Nifty may face profit booking in their stocks hence stop loss of 5950 should be treated as stop loss for current trading long positions”.

KARVY STOCK BROKING: “Long positions can be assumed in Energy, IT, Consumer Durables, Realty and Utilities if the market sustains above 6000 levels. Short positions can be accumulated in Capital Goods, Consumer Durables, Cement, FMCG and Pharma if the Nifty breaches 5950 levels. Overall, we expect Nifty to trade in the broad range of 5950-6100 levels for next week. A breakthrough of this range would lead to sharp momentum in the Index”.

GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Due to higher optimism and expectations of speedy policy reforms will keep the Nifty and Sensex further highs and Nifty may move above 6,100 to 6,181 levels in the medium term”.

ICICI SECURITIES: “The Nifty has major support placed at 5940 below which closure of positions may lead the index towards 5850. On the higher side, immediate target lies at 6100 levels, beyond which 6180 levels can also be tested. The Bank Nifty has major support placed at 12500/12300. On the higher side, 12800 remains an immediate resistance. Breach of this may lead the index to move towards 13200”.

SMC TRADEONLINE (WISE MONEY): “In coming week, Nifty is expected to trade on a slightly more volatile note than the previous week. However no significant movement is expected on either side. Overall Nifty is expected to trade in a range of 6000-6200 levels this week”.

ANGEL BROKING (Technical): “Strong 'Negative Divergence' in the daily 'RSI' momentum oscillator indicates that buying at these levels is not justified. In addition, although our domestic markets have closed almost at the highest point of the week, the rally is not a broad based one (Negative advance decline ratio) and has been led by individual stocks. This is specifically different from what is seen in a bull market. We thus continue to remain cautious and advise traders to reduce their long positions and book partial profits in individual large cap counters near to the 19950-20100/6070-6125 mark. Last week's low of 19596/5940 remains to be a key support in the coming trading sessions. A breach of this level may trigger pessimism in the market and in such a scenario, we expect a corrective move towards the next support levels of 19406-19221/5897-5842”.

ANAND RATHI SECURITIES (A K Prabhakar): “In last few days, up-move is very stock specific or sector specific while overall market is seeing some pressure, I get a feeling profit booking is on cards till 5,800 or 5,600 in February end. In last 2-3 days, oil & gas stocks held market while before that INFY held market but correction is seen in many mid & small cap stocks”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 6150-6250 in the upper side and 5950-5900 in the lower side”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 14.01.2013 TO 20.01.2013"

2013-01-13T17:23:00.000+05:30

The 30-share index, Sensex dropped 120.44 points or 0.61% over previous week to 19,663.64. On the other hand, the broad based NSE Nifty fell sharply 64.85 points, or 1.08%, to 5951.3.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “We expect some more consolidation in the Indian markets with a mild negative bias. The Sensex is likely to trade in a range of 19200-19800 during next week”.

KOTAK SECURITIES (Sanjeev Zarbade): “Post the IIP numbers, the inflation data is awaited. Infosys kicked off the results season on a good note and one can expect healthy numbers from most other large IT companies as well. Given the weakening economic backdrop, expectations from earnings are muted. However, market may reward companies that are able to post decent profits in these challenging times. Towards the end of the month, there is RBI monetary policy meet followed by the Union Budget, which would be presented in February”.

BONANZA ONLINE: “Bears had total control during the week. Nifty made black morubozu candlestick on weekly charts, which shows that bears are having control at the moment. Selling pressure may be continuing below 5950 levels. On the other hand, If Nifty holds 5950 levels then recovery may be seen. On upside, Nifty has resistance at 6050 levels. On downside, Nifty has support at 5840 levels. For trading during the coming session, trend deciding level is 5950. If Nifty shows strength above 5950 levels then we may see rally till 6050/6125/6175. If Nifty doesn’t sustain above 5950 levels then profit booking till 5840/5800/5740 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5950-5970	6005	5930
For the Week	Buy	5900-5940	6000-6050	5880

BONANZA PORTFOLIO (Rakesh Goyal): “5,950 shall be the deciding level for market trend. If Nifty goes below 5,950, further selling upto 5,900-5,850 is likely. Recovery may be seen only above 5,985 levels on the upsides. Volatility is likely to continue and market may also witness profit-booking on rallies. The level of 6,050-6,100 is a strong resistance zone as Nifty has seen steep fall from these levels in the past. And hence, some selling pressure may be seen from these levels. Financial results for third quarter and global cues shall remain in focus in coming sessions”.

GEPL CAPITAL: “From past 9 trading sessions, a sideways movement is seen in Nifty where the range is restricted between 5,935 and 6,045. A breakout above 6,045 or breakdown is expected to trigger sharp move in either direction. Below 5,935, the immediate support for Nifty is placed at 5,880 and next support is at 5,800. On the higher side, now 6,000 is immediate resistance for Nifty and Nifty needs to cross 6,045 levels to continue the uptrend. The intermediate trend of Nifty will remain in upward direction till Nifty is trading above 5,700 marks”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto, Banking, Energy, IT and Metal sectors if markets sustain above 5950 levels. Short positions can be accumulated in Capital Goods, Cement, FMCG, Pharma and Utilities if the Nifty breaches 5950 levels. Overall, we expect Nifty to trade in the broad range of 5850-6050 levels for next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Next week, there would be stock specific action based on results. Bajaj Auto, HDFC Bank, TCS, Axis Bank, HCL Tech, ITC and Yes Bank are among the major companies coming out with results. We advise investors to stay invested and accumulate quality stocks on correction. Stocks with institutional under-ownership are likely to perform in the near term. Mid-caps are likely to outperform large-caps as there is a lot of valuation catch-up to do”.

ICICI SECURITIES: “The Nifty has major support placed at 5870-5900. On the higher side, immediate resistance lies around 6020, breach of which may lead Nifty towards 6100. Bank Nifty has major support placed at 12500/12300. On the higher side, 12800 remains an immediate resistance. Breach of this may lead the index to move towards 13200”.

SMC TRADEONLINE (WISE MONEY): “Hereafter, the range of 6000-5800 will remain crucial for current expiry and the move is expected to remain sideways. If Nifty slips below the 5900 mark, it could slide to 5800 levels due to increased selling pressure. On the other hand, the index may face stiff resistance at 6000-6050 levels”.

ANGEL BROKING (Technical): “Despite positive opening on most of the trading sessions, indices traded with negative bias and corrected gradually during the week. At present, we are observing that indices are now approaching '20-Day EMA', which is considered as a decent support level. However, negative placement of 'RSI-Smoothened' and '3 & 8 EMA' on the daily chart amidst a corrective chart structure in many index heavyweights indicates at a possibility of a near term correction in the market. In addition, 'Negative Divergence' in the daily 'RSI' momentum oscillator is still intact. Hence, in the coming week, if our benchmark indices manage to sustain below the '20-day EMA', then we can expect a corrective move towards their next support levels of 19406-19221/5897-5842. Conversely, a sustainable move beyond this week's high of 19857/6042 would certainly nullify all possibilities of a short term correction. In this scenario, indices may resume to their larger degree bullish trend and we may then expect an extended up move towards 19950-20100/6070-6125. However, we reiterate that traders should consider reducing long positions and partial profit booking in individual large cap counters near to the 19950-20100/6070-6125 mark on the benchmark indices”.

IIFL (Amar Ambani): “Inflation will be the key event next week, along with the slew of earnings. The widely tracked WPI is projected to be ~7.37%. Watch out for the core inflation reading, a measure closely followed by the RBI”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5900 and the resistance is 6050. If Nifty breaks 5900, it may further go down 5870 and then 5820. However, if Nifty is able to sustain above 6050, the level of 6120-6180 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 6100-6150 in the upper side and 5900-5800 in the lower side”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 07.01.2013 TO 13.01.2013"

2013-01-06T12:29:00.004+05:30

Wish you all the blog visitors, well wishers and my friends a very very

The 30-share index, Sensex added 339.24 points, or 1.74% over previous week to 19,784.08. On the other hand, the broad based NSE Nifty too gained 107.80 points, or 1.82%, to 6,016.15.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty ending with marginal gains after bouncing back from the 5980 supports, the bulls continue to have an upper hand. Traders can expect further upsides in the coming week. Immediate upside targets for the Nifty are at 6050-6100. Temporary weakness could emerge if the 5980 supports are broken”.

KOTAK SECURITIES (Sanjeev Zarbade): “The important events include Infosys numbers (on Jan 11th). Markets would also await the inflation numbers. If there is a reduction in inflation, then expectations of a rate cut could get strengthened when the RBI meets on Jan 29th. Consequently rate sensitive sectors may outperform. Momentum is with the market. A spike in Crude prices may however spook the markets”.

CANARA BANK SECURITIES (CanMoney): “Nifty continues to be in strong uptrend and is consolidating above 6,000 marks as it trades above all the critical moving averages. The immediate resistance for Nifty is seen at 6,090 levels and above which it take may shot at all time high of 6,335”.

BONANZA ONLINE: “On upside, Nifty may find resistance above 6100 levels. On downside, Nifty may find support near 5900 levels. For trading during the coming session, trend deciding level is 6000. If Nifty shows strength above 6000 levels then we may see rally till 6050/6125/6175/6225. If Nifty doesn’t sustain above 6000 levels then profit booking till 5950/5900/5840/5800 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	6020-6040	6080	6000
For the Week	Buy	6000-6040	6115-6155	5965

BONANZA PORTFOLIO (Nidhi Sarswat): “In the coming sessions, 6,025 level shall be deciding level. Nifty is likely to witness further buying above 6,025 levels and may trade within 6,080-5,950. Support may be seen from 5,980-5,950 levels and resistance near 6,050-6,090. Investors may book profits in rallies as 6,000-6,050 is a strong resistance zone in medium term”.

GEPL CAPITAL: “We continue to maintain an upside target of 6030 to 6050 range over the course of next few days. Now the level of 5960 would serve as a support for Nifty for short term. As long as Nifty sustains above 5960 the bullishness would remain intact. In an alternate scenario a breach of 5960 may drag the Nifty down till 5924 to 5900 range. The level of 5823 has now emerged as a make or breaks level for Nifty on positional basis”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto, Banking, Capital Goods, Cement, IT, Metal, Realty and Telecom sectors if markets sustain above 5950 levels. Short positions can be accumulated in FMCG and Pharma if the Nifty breaches 5950 levels. Overall, we expect Nifty to trade in the broad range of 5900-6100 levels for next week”.

ICICI SECURITIES: “The Nifty has immediate support at 5960, below which momentum long positions could start to fizzle out. However, on a positional basis, 5870-5820 remains the key support. On the higher side, we reiterate our target of 6100. As stated, the index moved above 12510. It started to trade with a positive bias. We reiterate our positive stance on the stock for an eventual target of 13000/13200 as the Bank Nifty/Nifty ratio is trading at all-time high levels. Whenever such a high is made, banking sector out- performance continues”.

SMC TRADEONLINE (WISE MONEY): “If the Index slips below the 5900 level, it could gradually slide to 5700 levels. Conversely, a sustained move beyond 5900 levels should see Nifty climbing 6100 levels. Technically, the Index continues to trade above all its moving averages, of 200-day and 100-day EMAs, indicating a bullish scenario. On the contrary, sustaining 5900 levels is extremely crucial for a continued uptrend. On the technical front, Nifty is finding support around its short term averages of 5950 indicating immediate strength”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 5980-5940 and the resistance is at 6100”.

ANGEL BROKING (Technical): “We are observing that these are facing a resistance near the 'Upward Sloping Trend Line' (drawn by joining the highs of October 5, 2012 and December 11, 2012). Also, the daily chart now depicts two consecutive candles which resemble a 'Hanging Man'. As mentioned in our Friday's daily report, the said pattern has a negative implication and needs a confirmation in the form of prices closing below the low of the pattern. Considering the overall positive sentiment across the globe and bullish higher degree charts, we don't expect a complete reversal of the existing bull trend, although a minor corrective move cannot be ruled out. Hence, a closing below 19679/5981 would confirm the 'Hanging Man' pattern and indices may slide towards 19624-19509/5960-5935. Any sustainable move beyond 19798/6021 would negate the pattern and the indices then may rally towards 19950/6070. Traders should consider reducing long positions and partial profit booking in individual large cap counters near to the 6070-6125 mark”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5950 and the resistance is 6050. If Nifty breaks 5950, it may further go down 5870 and then 5800. However, if Nifty is able to sustain above 6050, the level of 6120-6180 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 6100-6150 in the upper side and 5900-5800 in the lower side”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 31.12.2012 TO 06.01.2013"

2012-12-30T11:44:00.000+05:30

Wish you all the blog visitors, well wishers and my friends a very very

The 30-share index, Sensex added 202.84 points, or 1.05% over previous week to 19,444.84. On the other hand, the broad based NSE Nifty too gained 60.65 points, or 1.04%, to 5,908.35.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “Markets are still stuck in a range between the 19149-19612/5823-5965 levels. Friday’s bounce back does give some hope for the bulls. A breakout on the upside would lead to a continuation of the current intermediate uptrend. This would then bring into focus the previous intermediate highs of 20218-20665/6070-6181. Our bets for a continuation of the uptrend would go wrong if the Sensex/Nifty dive lower and close below the short-term reversal levels of 19149/5823”.

CANARA BANK SECURITIES (CanMoney): “Domestic and global cues are expected to continue to decide the direction for our equity market. Strategy for the month would be Long strangle i.e. to buy 5800 put and 6000 call at total premium of ` 105. Nifty range for the next week might be in the range of 5820-6050”.

BONANZA ONLINE: “Nifty is consolidating in 5965-5825 zone for 4 weeks. Until decisive breakout or breakdown occurs, volatility may be continuing. Sentiment to large extent may depend upon Global indices particularly US fiscal cliff problem. Decisive break down below 5825 may lead to selling pressure and lower levels may be seen. On the other hand, if Nifty breakout above 5965 levels then buying strength may be seen. Traders should not take fresh delivery call below 5825 levels. For trading during the coming sessions, trend deciding level is 5900. If Nifty shows strength above 5900 levels then we may see rally till 5965/6000/6050/6125. If Nifty doesn’t sustain above 5900 levels then profit booking till 5840/5750/5700/5700 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Sell	5970-5990	5930	6010
For the Week	Sell	5980-6030	5900-5850	6060

BONANZA PORTFOLIO (Rakesh Goel): “After 5 weeks, Nifty is still holding above 5,850 level, which is a positive indicator. Any positive news can lead to upward breakout of the range. It is to be seen if Nifty sustains above 5,925 level, as this will be deciding level for coming days. In the coming sessions, Nifty is likely to witness further buying above 5,925 level and may see consolidation within 5,850-5,950 in the coming sessions. Support may be seen from 5,850-5,825 levels and resistance near 5,925-5,950”.

GEPL CAPITAL: “While the level of 5960 continues to serve as a resistance for Nifty, 5840 is an important support. An either side break out would provide short term directional cues. A break out above 5960 would imply further advance till 6030 to 6100 range whereas a breakdown below 5850 would indicate further decline till 4780. We advise initiating of trading positions only on a confirmation of a break out of either side”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “The confluence of current strong reforms momentum generated by the government, likely interest rate cuts and lack of high yielding asset avenues for global investment flows are likely to help our markets to continue to attract strong FII flows. We recommend investors to accumulate quality plays in private sector financials, media, discretionary consumption like autos and consumer durable, Industrial & Infrastructure and pharma”.

ICICI SECURITIES: “The Nifty has key resistance placed at 5975, above which it is likely to test 6100. On downsides, 5750-5820 remains a crucial support zone. The banking index has seen creation of short straddle at the 12500 strike at a cumulative premium of 550, which is forming the range of 11950-13050 for the index. Within this range, 12520 spot is likely to act as a pivot level, a move beyond which could trigger fresh upsides in private sector heavyweights”.

SMC TRADEONLINE (WISE MONEY): “Overall market cost-of-carry increased on the back of addition in open interest suggesting addition of long positions. The month of January began with good rollover with positive cost of carry indicating long carry forward. Hereafter, the range of 5800-6000 will remain crucial in the near term. Breach below the 5800 mark could see the Index declining sharply to 5650 levels. It is likely to hover in the range of 5800-6000 levels for the week”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 5864 and trade long and the resistance is at 5980-6000”.

ANGEL BROKING (Technical): “We continue to mention the narrow trading range of 19613/5965-19149/5823. Only a sustainable breakout on either side would give a clear direction for the near term. A move beyond 19613/5965 level would result in an extended rally towards 20050-20218/6000-6070 levels. Conversely, a closing below the lower range of 19149/5823 may trigger short term pessimism in the market. In such a scenario, we may witness a correction towards 19100-18930/5806-5755. These levels are the 38.20% and 50% Fibonacci retracement levels of the rise from 18255/5548 (low on November 20, 2012) to 19612/5965 (high on December 11, 2012), respectively. However any adverse developments in the US, with regards to the 'Fiscal Cliff' may result in enhanced volatility in the market. Considering the overall weekly chart structure we continue to remain positive on the market and any corrective move towards 19000-18900/5800-5750 levels should be used by positional traders as a buying opportunity”.

IIFL (Amar Ambani): “Investors eagerly await the outcome of fiscal cliff negotiations before spending cuts and tax raise get initiated on January 1. With few days left in December, attention will soon shift to next year. Corporate earnings will be tracked closely. Being the beginning of a new month, markets will have lot of data points to digest, including manufacturing and services PMI and auto sales. So, brace for more volatility and uncertainty, and avoid any misadventures”. (source: myiris)

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5800 and the resistance is 5975. If Nifty breaks 5800, it may further go down 5730 and then 5630. However, if Nifty is able to sustain above 5950, the level of 6030-6080 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 6000-6100 in the upper side and 5800-5700 in the lower side”.

SHAREKHAN: “The Nifty has taken support around the previous swing low, i.e., 5,840, and bounced which indicates strength in the short term. The short-term bias has changed to positive for a target of 5,965. The medium-term outlook remains positive, as the index has started forming higher tops and higher bottoms on the weekly chart and also made a bullish island with support around 5,649”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 23.12.2012 TO 30.12.2012"

2012-12-23T13:04:00.001+05:30

The 30-share index, Sensex declined 75.25 points or 0.39% over previous week to 19,242.00. On the other hand, the broad based NSE Nifty too dipped 31.90 points, or 0.54%, to 5,847.70.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “Markets could ride the global cues next week. If the US ‘fiscal cliff’ is not sorted out, it could further continue its downward movement and trade in a range of 18,800 to 19,400 on the Sensex. With the markets diving lower today, the short term trend reversal levels of 5823 are under threat. Traders will need to watch if the Nifty can hold above these levels in the coming week; else we could be headed for more declines”.

KOTAK SECURITIES (Dipen Shah): “Markets are hoping for a solution to the US 'fiscal cliff' issue because if a solution is not reached, it can impact sentiments negatively. We expect the issue to be resolved and the same can provide relief in short term. However, markets will trend up sustainably, only if further core sector reforms are announced and implemented. We believe, this is necessary for FY14 earnings estimate to be revised upwards which, in turn, will likely support the markets”.

CANARA BANK SECURITIES (CanMoney): “As Nifty index fell down to trade below 5850 levels, now any upside targets would hold only if the resistance of 5900 is overcome. Else, the Nifty could then be headed towards a consolidation in the coming week”.

BONANZA ONLINE: “Nifty is consolidating in 5965-5825 zone for 3 weeks. Until decisive breakout or breakdown occurs, volatility may be continuing. Sentiment to large extent may depend upon Global indices. Decisive break down below 5825 may lead to selling pressure and lower levels may be seen. On the other hand, if Nifty holds 5825 levels then recovery may be seen. Traders should not take fresh delivery call below 5825 levels. For trading during the coming sessions, trend deciding level is 5850. If Nifty shows strength above 5850 levels then we may see rally till 5900/5960/6000/6050. If Nifty doesn’t sustain above 5850 levels then profit booking till 5800/5750/5700/5650 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Sell	5880-5900	5840	5920
For the Week	Sell	5880-5900	5810-5785	5960

GEPL CAPITAL: “Nifty breached the support level of 5880 and now has a critical support placed at 5800. Any decline below this support may aggravate the selling pressure and it may come down to 5750 which is yet another important support of an accelerating Channel which has been in place since past six months. On the higher side the range of 5865 to 5890 would now serve as resistance for Nifty”.

KARVY STOCK BROKING: “Long positions can be assumed in banks, auto, pharma, IT, and metals sectors if markets hold 5830-5800 levels. Short positions can be accumulated in capital goods, utilities, consumer durables, and energy, if nifty fails to cross 5950-6000 levels or below 5800 levels. Overall, we expect Nifty to trade in the broad range of 5800-6000 levels for next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “With the current strong reforms momentum generated by the government, likely interest rate cuts and lack of high yielding asset avenues for global investment flows, our markets are likely to continue to attract strong FII flows, which would support our markets. We recommend investors to accumulate quality plays in private sector financials, media, discretionary consumption like autos and consumer durables, industrials and infrastructure, and pharma”.

ICICI SECURITIES: “The Nifty has major support placed near 5750, 5820 levels as significant Put writing was observed at 5800 and 5700 strikes. A move below 5820 can extend profit booking towards 5750. On upsides, the Nifty may find immediate hurdle at 5920. A move above this level may trigger short covering towards the highest Call base of 6000. The Bank Nifty may continue to find resistance at its highest Call base of 12500 above which short covering towards 12700 cannot be ruled out. On the lower side, 12000 is expected to remain a crucial support”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 5830-5735 and the resistance is at 5900-6000”.

ANGEL BROKING (Technical): “Both the upper as well as the lower band of the trading range 19613/5965-19193/5839. Similar to last week, indices have closed precisely at the strong support of '20-Day EMA'. However, this time the price structure along with few technical tools, such as the daily momentum oscillators, '3 & 8 EMA' and the ADX (9), indicate a relatively higher probability of a short term correction in the market. The said possibility will be confirmed only if indices sustain below last week's low of 19149 / 5823. In this scenario, we may witness a downward corrective move towards 19100-18930/5806-5755. These levels are the 38.20% and 50% Fibonacci retracement levels of the rise from 18255/5548 (low on November 20, 2012) to 19612/5965 (high on December 11, 2012), respectively. On the flipside, last week's high of 19512/5965 would act as a strong resistance in the coming trading sessions. A move beyond this level would result in an extended rally towards 20050-20218/6000-6070 levels. Considering the overall weekly chart structure we continue to remain positive on the market and any corrective move towards 19000-18900/5800-5750 levels should be used by positional traders as a buying opportunity”.

IIFL (Amar Ambani): “The market appears to be in a sort of uncertainty with some kind of year-end fatigue. Christmas is round the corner but no signs of a Santa Claus rally here. Nifty has been stuck in a trading band of 5,800-5,960 for last two weeks so a breakout either side is anxiously awaited to determine the near term direction. Global cues also were not supportive as fiscal cliff issues continue to overshadow any other economic news. In the coming curtailed week, volatility is likely to escalate due to F&O expiry”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5960-6100 in the upper side and 5750-5700 in the lower side”.

SHAREKHAN: “The coming week will remain volatile for the markets as traders roll over positions in the futures & options (F&O) segment from the near month December 2012 series to January 2013 series. Nifty has taken support around theprevious swing low, ie 5,840, and bounced which indicates strength in the short term. The short-term bias has changed to positive for a target of 5,965. The medium-term outlook remains positive, as the index has started forming higher tops and higher bottoms on the weekly chart and made a bullish island with support around 5,649. Nifty is trading below the 20-hourly simple moving average and the 40-hourly exponential moving average, ie 5,906 and 5,892 respectively, which are crucial levels in the immediate run”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 17.12.2012 TO 23.12.2012"

2012-12-16T18:38:00.003+05:30

The 30-share index, Sensex declined 106.85 points, or 0.55% over previous week to 19,317.25 On the other hand, the broad based NSE Nifty too dipped 27.80 points, or 0.47%, to 5,879.60.
VIEWS FROM DIFFERENT BROKING HOUSES:
CANARA BANK SECURITIES (CanMoney): “As Nifty index zoomed to trade above 5850 levels, now any upside targets would hold only if the resistance of 5950 is overcome. Else, the Nifty could then be headed towards a consolidation in the coming week”.
BONANZA ONLINE: “Nifty is consolidating in 5965-5840 zone for 2 weeks. Until decisive breakout or breakdown occurs, volatility may be continuing. Sentiment to large extent may depend upon RBI monetary policy on 18^th December and Nifty may decide its direction accordingly. Traders should be cautious. For trading during the coming sessions, trend deciding level is 5900. If Nifty shows strength above 5900 levels then we may see rally till 5960/6000/6050/6125. If Nifty doesn’t sustain above 5900 levels then profit booking till 5840/5770/5725/5650 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Sell	5920-5940	5870	5965
For the Week	Sell	5940-5980	5860-5820	6015

GEPL CAPITAL: “Nifty ended the day with a gain of 28 points at 5879. It respected the support of 5838 despite sliding down to as low as 5839 level and bounced back from there on. Any break below 5838 may trigger further decline till 5805 and below that 5756 is a possibility, on the higher side the level of 5935 would act as a resistance for Nifty. Nifty needs to surpass the level of 5935 to register further upside till 6030 and higher”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto, Banking, Consumer Durables and Realty sectors if markets sustain above 5850 levels. Short positions can be accumulated in Capital Goods, Cements, FMCG, IT, Pharma and Utilities if the Nifty breaches 5850 levels. Overall, we expect the Nifty to trade in the range of 5800-6000 levels for the next week”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “RBI’s monetary policy is likely to maintain status quo on the interest rate front. Our markets continue to look good. While there might continue to be some selective profit taking in certain sectors and stocks, investors who don’t have adequate weightage of Indian equities in their portfolio would come in to support the markets”.

ICICI SECURITIES: “We continue to expect 5820/5750 levels as immediate supports for the Nifty in the coming week. Stock specific momentum would continue till the Nifty holds above these levels. However, volatile moves cannot be ruled out due to the upcoming policy meet. On upsides, the Nifty may find immediate hurdle at 5900. A move above 5900 would bring the index to 5975 levels. The Bank Nifty may continue to find resistance at its highest Call base of 12500 levels above which short covering towards 12700 cannot be ruled out. On the lower side, 12000 is expected to remain a major support”.

SMC TRADEONLINE (WISE MONEY): “On the technical front, the Nifty has given a strong breakout above 5800 levels. Going forward, it is expected to trade with positive bias with strong buying interest coming in at every dip. Nifty might face resistance at 5920-5950 levels Any breach below 5800 would induce some profit booking taking Nifty towards the support zone of 5700 mark, which will remain a crucial point of observation for the week”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 5796-5750 and the resistance is at 5900”.

ANGEL BROKING (Technical): “We are of the opinion that if indices sustain below 19186/5836 in the coming week, a downward corrective move towards 19100-18930/5806-5755 is in the offing. These levels are the 38.20% and 50% Fibonacci retracement levels of the rise from 18255/5548 (low on November 20, 2012) to 19612/5965 (high on December 11, 2012), respectively. On the flipside, last week's high of 19612/5965 would act as a strong resistance in the coming trading sessions. Only a move beyond this level would result in an extended rally towards 20050-20218/6000-6070 levels. Considering the overall weekly chart structure we continue to remain positive on the market and any corrective move towards 19000-18900/5800-5750 levels should be used by positional traders as a buying opportunity”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5800 and the resistance is 5950. If Nifty breaks 5800, it may further go down 5730 and then 5630. However, if Nifty is able to sustain above 5950, the level of 6030-6080 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5960-6100 in the upper side and 5800-5700 in the lower side”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 12.11.2012 TO 18.11.2012"

2012-11-11T16:15:00.004+05:30

The 30-share index, Sensex declined 71.77 points, or 0.38% over previous week to 18,683.68. On the other hand, the broad based NSE Nifty too dropped 11.45 points, or 0.20%, to 5,686.25.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty correcting sharply on Friday, traders will need to watch if the index can now hold above the 5680 supports. Our upside targets of 5813 would hold if the supports of 5680 are held. Else, the current uptrend would reverse and the Nifty could then be headed towards the recent lows of 5583 in the coming week”.

CANARA BANK SECURITIES (CanMoney): “Traders will need to watch if the index can now hold above the 5680 supports. Any upside targets would hold only if the supports of 5680 are held. Major Supports & Resistances for Nifty is 5640/5575/5525 & 5725/5775/5815”.

FAIRWEALTH SECURITIES: “An intra-day downside (seems like a possibility) could come in below the 5682 level while significant support at lower levels (5638) – would limit the downside. The outlook has turned negative again”.

BONANZA ONLINE: “After making hammer candlestick pattern on weekly charts, Nifty made shooting star candlestick pattern, which shows volatility in the market. If nifty hold 5680 levels then recovery may be seen else Selling pressure may be continuing below 5680 levels. On upside, Nifty has resistance near 5800 levels and on downside support near 5600 levels. For trading during the coming sessions, trend deciding level is 5680. If Nifty shows strength above 5680 levels then we may see rally till 5725/5800/5860/5940. If Nifty doesn’t sustain above 5680 levels then profit booking till 5630/5580/5530/5450 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Sell	5740-5760	5690	5780
For the Week	Sell	5750-5780	5640-5580	5825

BONANZA PORTFOLIO (Rakesh Goel): “In the coming week, 5,635 level on the downside and 5,775 level on the upside shall be deciding levels. If it goes above 5,775, further buying momentum is likely for a target of 5,800-5,850”.

GEPL CAPITAL: “Nifty is now near a key support level of 5680 and below that it has next support placed at 5650. Any decline below 5650 would be the initial sign that the correction that started late this week may turn out to be a bit deeper. In the event 5650 is also breached then the Nifty may decline further till the swing low of 5580 which is also a support level offered by a rising Channel. On the higher side it needs to surpass the level of 5750 to trend higher till 5815 to 5900 range. Traders with long positions may place a stop loss of 5640”.

KARVY STOCK BROKING: “Long positions can be assumed in auto, consumer durables, FMCG, pharma, realty and telecom sectors if markets hold 5700 levels. Short positions can be accumulated in banking, capital goods, metals and utilities if the Nifty fails to sustain above 5700 levels or below 5650 levels. Overall, we expect the Nifty to trade in the range of 5600-5800 levels for the next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Markets seem range-bound for the short term. Private sector financials, discretionary consumption, media, IT and pharma are likely to outperform. We recommend buying into the weakness in the market”.
ICICI SECURITIES: “The 5650 level is expected to remain crucial for the Nifty in the near term. Long bias should remain till the Nifty holds these levels. On the higher side, immediate hurdle is placed at 5750 above which 5800/5880 can be expected. The Bank Nifty has immediate support at 11400 below which momentum may fade away from the banking index. On the higher side, 11700 is expected to remain a hurdle”.
SMC TRADE ONLINE (WISE MONEY): “The current situation strongly suggests that the market is due for range & volatility breakout on either side, which will be confirm only above 5800 level or below 5650 levels”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 5690-5640 and the resistance is at 5780-5805”.
ANGEL BROKING (Technical): “We are now observing a mirror image of the breakdown, in the form of a breakout beyond the 18886/5729 mark. Indices managed to traverse the 18886/5729 level and started correcting immediately after a minor up move. This shows that the market participants are skeptical and hence, the market is struggling to find a clear direction. At this juncture, the daily chart depicts a negative crossover in the 'RSI' and the 'Stochastic' oscillators. This increases the possibility of a near term corrective move if our benchmark indices manage to sustain below 18656/5677 levels. In this scenario, our markets may slide towards 18589-18393/5650-5583 levels. A breach of 18393/5583 may reinforce the negative momentum and as a result, we may witness further correction towards 18194/5515, which is the 50% Fibonacci Retracement level of the rise from 17250 to 19138/5216 to 5815. On the flipside, 19138/5816 level would act a strong resistance for our market. Only a sustainable move beyond this level would augment the buying interest and indices may resume to their higher degree trend, i.e. bullish. In this scenario, the up move may get extended towards 19542-19812/5850-5945 levels. In the broader sense, the near term trading range has widened to 19138-18393/5816-5583 levels”.

IIFL (Amar Ambani): “The IIP numbers will have its impact on few segments as the numbers are announced on Monday. The earnings season continues and investors will continue to pay closer attention to corporate numbers as they come. The monthly WPI is expected on Wednesday. It may be recalled that the diesel price hike had led to WPI inflation hitting a 10-month high in September”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5800-5850 in the upper side and 5550-5500 in the lower side”.

SHAREKHAN: “Nifty is now expected to head higher till 5,770 with support around 5,649 in the short term. The short-term bias would change to positive until the index closes below 5,580 for a target of 5,815”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 29.10.2012 TO 04.11.2012"

2012-10-28T14:06:00.000+05:30

The 30-share index, Sensex declined 56.97 points, or 0.30% over previous week to 18,625.34. On the other hand, the broad based NSE Nifty dipped 19.95 points, or 0.35%, to 5,664.3.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty still stuck in a tight range for two consecutive weeks, traders will need to watch if the index can now break out of the 5635-5729 range in the coming week. A break down could see the Nifty testing the next major supports of 5535”.

KOTAK SECURITIES (Dipen Shah): “We believe markets are awaiting the RBI decision on October 30 and on the global front, the elections for the US Presidency. More importantly, there have been no announcements on further reforms and some important decisions on issues like NIB, land acquisition and real estate regulator have been pushed forward. These are points of concern. Markets are pricing some of the reforms and if these do not come through, there will be disappointment”.

CANARA BANK SECURITIES (CanMoney): “Next week, Domestic and global quarterly result will continue to have major focus and may be decisive in imparting any direction to our market. On 30^th RBI will undertake its policy review meet, which too make move in some interest rate related sectors. Major Supports & Resistances for Nifty is 5640/5575/5520 & 5710/5775/5815”.

BONANZA ONLINE: “Nifty has been trading in 5725-5630 zone for 2 consecutive weeks. Until decisive breakout or breakdown occurs volatility may be continuing. Selling pressure may be continuing below 5630 levels. Buying interest may be seen above 5725 levels. RBI monetary policy meets on 30^th Oct may decide further sentiments in the market. For trading during the coming sessions, trend deciding level is 5675. If Nifty shows strength above 5675 levels then we may see rally till 5725/5800/5860/5940. If Nifty doesn’t sustain above 5675 levels then profit booking till 5630/5580/5530/5450 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5650-5690	5750-5790-5820	5735
For the Week	Buy	5680-5700	5750	5665

GEPL CAPITAL: “After treading in a narrow band for past couple of weeks Nifty has now drifted lower near a break down level of 5650. It continues to appear weak as long as it trades below the level of 5725 and may further decline till 5535 to 5550 range in coming few sessions. We continue to maintain a short term bearish view and recommend short selling with a stop loss of 5725 for a decline till 5550 to 5535 in next couple of sessions”.

KARVY STOCK BROKING: “Long positions can be assumed in banking, FMCG, capital goods and auto sectors if markets hold 5650 levels. Short positions can be accumulated in pharma, metals, consumer durables and utilities if the Nifty fails to sustain above 5650 levels or below 5600 levels. Overall, we expect the Nifty to trade in the range of 5600-5750 levels for the next week. However, a signiﬁcant ramp-up in volatility can be expected if the Nifty makes an emphatic move out of this range”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “Next week, the RBI meets for its monetary policy review. With consumer inflation still at ~10%, its unlikely that the RBI would go for a policy rate cut. However, a cut in CRR is likely. On the whole, the monetary policy meet is likely to be a non-event, though private banks could rally a bit on a CRR cut. Stock specific action based on results would continue. We continue to be positive on the markets as the confluence of high global liquidity and continued movement on government policy reforms would bring in continued strong FII inflows”.
ICICI SECURITIES: “Nifty is expected to find a directional move only if it is able to surpass the prevailing range of 5630-5730 levels. With highest Put base at 5600 strike, we expect these levels to act as strong support. Below which 5300 may be tested. On the higher side, 5800 levels are expected to pose major resistance. The Bank Nifty has also witnessed short straddle for November series at 11500 strikes. However, the immediate resistance can be observed at 11700 levels while 11200 should act as important support”.
SMC TRADEONLINE (WISE MONEY): “In Nifty index options, new expiry started with 5600 and 5900 range as these strikes hold maximum open interest. On the call option front, 5900 strike holds the maximum open interest of 37 lakhs shares, whereas 5600 strike put holds maximum open interest of above 42 lakhs shares. Coming weeks are coming with some important event on global and domestic front, which may bring extra volatility in market. Nifty has decent support near 5600-5650 levels. Any correction below these levels may bring short term trend to halt, till than every correction is a buying opportunity”.
GABA & GABA FINANCIAL ADVISORS PVT. LTD (Prakash Gaba): "The crucial support for the Nifty is at 5630-5582 and the resistance is at 5775".
SHAREKHAN: "The Nifty has closed in the negative on Friday. It is now expected to head lower till 5,540 with resistance around 5,730. The key support in the immediate run will be around 5,630 and resistance will be at 5,730. On the daily chart, the momentum indicator is trading in the negative".
INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5750-5800 in the upper side and 5550-5500 in the lower side”.
ANGEL BROKING (Technical): “We would continue to await the sustainable breakout on either side from the trading range (breakout from the 'Channel' pattern) of 18886 to 18535/5729 to 5633. The '20-day EMA' continues to provide decent support to our market and the 'RSI' oscillator is still above the 50 mark. As long as the 'RSI' oscillator stays above the 50 mark, the probability of the market breaking out of the upper range of the 'Channel' i.e. 18886/5729 cannot be ruled out. In this scenario, we may see a rally towards 18973-19138/5757-5816. A move beyond 19138/5816 would attract immense optimism in the market and as a result, the up move will get extended towards 19542-19812/5850-5945 levels. On the flipside, the weekly 'Stochastic' is still negatively poised. The impact of this technical tool would be seen if indices sustain below 18535/5633. This may trigger near-term pessimism in the market and as a result, the market may slide towards 18416/5586 and 18194/5515, which are 38.2% and 50% Fibonacci Retracement levels of the rise from 17250 to 19138/5216 to 5815, respectively. Traders are advised to trade with strict stop losses as we expect the volatility to increase post announcement of the RBI monetary policy”.
MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5600 and the resistance is 5750. If Nifty breaks 5600, it may further go down 5530 and then 5450. However, if Nifty is able to sustain above 5750, the level of 5790-5850 would become the next target”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 22.10.2012 TO 28.10.2012"

2012-10-21T20:42:00.004+05:30

The 30-share index, Sensex gained 7.13 points, or 0.04% over previous week to 18,682.31. On the other hand, the broad based NSE Nifty moved up 8.20 points, or 0.14%, to 5,684.25

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “After moving up sharply on Thursday and giving hopes to the bulls of a break out, the Nifty once again failed to breakout and ended lower. The 5635-5729 levels therefore continue to remain crucial levels to watch for a break out or break down in the coming week”.

BONANZA ONLINE: “Traders should be cautious in volatile environment. Selling pressure may be continuing below 5650 levels. On upside Nifty has resistance at 5800 level. For trading during the coming sessions, trend deciding level is 5650. If Nifty shows strength above 5650 levels then we may see rally till 5720/5800/5860/5940. If Nifty doesn’t sustain above 5650 levels then profit booking till 5580/5530/5450 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Sell	5690-5710	5630	5735
For the Week	Sell	5750-5800	5675-5640	5830

ADITYA BIRLA MONEY (MONEY WEEKLY): “Next week, our markets are likely to follow global cues. Markets are likely to keenly assess the outcome of the EU summit in terms of the status on (1) Spain seeking a bailout, (2) disbursement of delayed aid to Greece and relaxation on budget austerity conditionality and (3) a banking union. There would be stock specific action based on results. We continue to be positive on the markets as the confluence of high global liquidity and continued movement on government policy reforms would bring in continued strong FII inflows”.

ICICI SECURITIES: “Due to ongoing earnings season and upcoming settlement week, Nifty may witness volatile moves. The highest Put base of 5600 strike should be crucial support on downsides. At the same time, a move above 5730 should prompt short covering towards the settlement. The Bank Nifty is hovering at its straddle formed at the 11500 strike. From a trading prospective, 11200 level is expected to act as strong support in the near term while 11700 would be critical resistance on the higher side”.
GEPL CAPITAL: “Nifty is showing sideways movement for past 8^th consecutive days and the breakout above 5730 is expected to trigger sharp up-move. At the same time, Nifty needs to maintain the crucial support level of 5630 as below this level, sharp sell may be seen. On weekly chart, a 'Doji' like structure is visible indicates indecisiveness in the market. A sustainable breach and closing above 5730 is likely to trigger fresh rally which is expected to cross earlier high of 5815. On the downside, breakdown below 5630 may result in losing near about 100 points and testing of 5520 which is 50% retracement support”.
KARVY STOCK BROKING: “Long positions can be assumed in Banking, FMCG, Capital Goods, Ulitilities, Consumer Durables, Cement, Realty and Auto sectors if markets hold 5650 levels. Short positions can be accumulated in Pharma and Metals if the Nifty fails to sustain above 5650 levels or below 5600 levels. Overall, we expect Nifty to trade in the range of 5600-5800 levels for next week”.
SMC TRADEONLINE (WISE MONEY): “Technically, the Index continues to trade above all its moving averages, of 200-day and 100-day EMAs, indicating a bullish scenario. On the contrary, sustaining 5600 levels is extremely crucial for a continued uptrend. The highest concentration of call option is at 5800-strike call option, which has more than 1 crore shares. Among put options, the highest open interest is at the 5600 strike, with an open interest of above 85 lakh shares. The options build-up in the 5800 strike indicates a stiff resistance for current expiry. October expiry is expected to close in the band of 5600 to 5800 levels”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): "The crucial support for the Nifty is at 5630-5582 and the resistance is at 5700-5775".
ANGEL BROKING (Technical): “Going foward, the impact of negatively poised weekly 'Stochastic' oscillator would be seen if indices sustain below 18535/5633. This may trigger near term pessimism in the market and as a result, Indices may slide towards 18416/5586 and 18194/5515, which are 38.2% and 50% Fibonacci Retracement levels of the rise from 17250 to 19138/5216 to 5815. On the flip side, the daily 'RSI' oscillator is consistently moving above the 50 mark. This signifies strength in the current intermediate degree trend, which is bullish. A fresh set of buyers would enter the market only if our indices sustain above 18886/5729. In this scenario, we can expect our indices to move towards 18973-19138/5757-5816. A move beyond 19138/5816 would negate the negative implication of the "Bearish Engulfing" candlestick pattern and further optimistic targets open up”.
IIFL (Amar Ambani): “Investors will pay attention to any news that may emanate out of the two-day summit of European leaders in Brussels. Domestically, a lot would depend on RBI policy meeting which is scheduled to be held in the coming weeks. The ongoing results season would also continue to influence the mood on the street”.
MICROSEC SECURITIES: “We maintain the trading range of 5600-5850 for the market and recommend BUYING around the lower levels of NIFTY. Results would give only stock specific volatility”.
INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5800-5850 in the upper side and 5550-5500 in the lower side”.
EMKAY GLOBAL FINANCIAL SERVICES: “We still anticipate an upside breakout in Nifty and expect the index to clear the barrier of 5,750 in the coming sessions. This is the reason why we stated that bulls are gearing up since last nine trading sessions for the takeover fight. On the other hand, if the support of 5,630 doesn't work well for the index and bears win the takeover fight then the prices is expected to sink lower to the support of internal trendline (blue i.e. 5,575 odd) drawn connecting the highs of 5,348 and 5,448”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 15.10.2012 TO 21.10.2012"

2012-10-14T13:40:00.001+05:30

The 30-share index, Sensex declined 263.28 points, or 1.39% over previous week to 18,675.18. On the other hand, the broad based NSE Nifty dropped 70.90 points, or 1.23%, to 5,676.05.

VIEWS FROM DIFFERENT BROKING HOUSES:

CANARA BANK SECURITIES (CanMoney): “We expect the market to trade range-bound between 5600-5850 levels till the earning season and before the winter session of the Indian parliament scheduled to start from early November 2012. Major Supports & Resistances for Nifty is 5640/5575/5520 & 5710/5775/5815”.

BONANZA ONLINE: “After showing strength for 5 consecutive weeks Nifty closed in red. Bears are having control at the moment. Sentiment to a large extent will depend upon Sept Qtr results. Traders should be cautious in volatile environment. Selling pressure may be continuing below 5650 levels. On upside Nifty has resistance at 5800 level. For trading during the coming sessions, trend deciding level is 5650. If Nifty shows strength above 5650 levels then we may see rally till 5720/5800/5860/5940. If Nifty doesn’t sustain above 5650 levels then profit booking till 5580/5530/5450 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5660-5670	5725	5630
For the Week	Buy	5640-5670	5735-5755-5790	5605

GEPL CAPITAL: “After a span of 5 weeks, Nifty closed in negative territory on weekly chart suggesting downward correction is in the offing. Nifty is expected to dip below 5630 where next support zone is placed between 5590-5550. Only after surpassing 5750, Nifty will gain its strength and further rally may be seen”.

KARVY STOCK BROKING: “Long positions can be assumed in IT, FMCG, Banking, Cements, Consumer Durables, Capital Goods and Metals sectors if markets hold 5650 levels. Short positions can be accumulated in Pharma, Realty and Telecom if the Nifty fails to sustain above 5650 levels or below 5600 levels. Overall, we expect Nifty to trade in the range of 5550-5800 levels for next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “The government seems keen to keep the stock markets buoyant to (1) attract foreign fund flows in order to ease the pressure on the rupee and lower inflation, and (2) get better proceeds from disinvestments. With global liquidity being high, India would continue to attract strong FII inflows. Distribution of fund flows from defensives to cyclicals and high beta-sectors is likely to continue. Pockets of high beta stocks and mid-caps have a lot of room to move upwards. There would be stock-specific action based on results performance”.

ICICI SECURITIES: “The Nifty has major support at 5600, below which it may test its lower support at 5530. On the higher side, 5750 will remain a crucial resistance for the coming week. Sustainability above 5750 may bring fresh momentum towards 5880. With the ongoing earnings season, choppiness cannot be ruled out in the broader index. The Bank Nifty is hovering at its straddle formed at the 11500 strike. From a trading prospective, 11200 is expected to act as strong support in the near term while 10700 would be critical resistance on the higher side”.

SMC TRADEONLINE (WISE MONEY): “The sector rotation, which is an indicator of consolidation phase in market, is shifting from high beta banking stock to metal and IT. In Nifty index options, significant option writing has been seen in the 5800 and 5900 call-option strikes with open interest of above 90 lakhs. On the put side 5600 put holds maximum concentration just above 70 lakhs. A low Put-Call ratio of 0.96 indicates more call writing, which suggests that upside is capped to 5800 in current expiry”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Now 5650 has become a strong support and the market could climb to around 5785”.

ANGEL BROKING (Technical): “The weekly chart now depicts a 'Bearish Engulfing' candlestick pattern. This pattern needs a confirmation in the form of a closing below the low of the candle. The negative crossover in the weekly 'Stochastic' oscillator does not bode well in the short term. Hence, we are of the opinion that if indices sustain below last week's low of 18581/5636, then further price erosion can be expected. In this process, the market may slide towards 18416/5586 and 18194/5515, which are 38.2% and 50% Fibonacci Retracement levels of the rise from 17250 to 19138/5216 to 5815, respectively. Aggressive bears can encash the small down move with a strict stop loss above 18886/5729 level and the bulls are advised to stay away until they get any reversal signs. The said pattern will be negated once the indices manage to cross the high of the candle i.e. 19138/5816. In this case, we expect the indices to move towards 19542-19812/5850-5945 levels”.

IIFL (Amar Ambani): “One should not get carried away by the recent rally and reforms, as a few economic headwinds are yet to be conquered. The global situation too is far from satisfactory, with the euro-zone leaders continuing their struggle to quell a three-year-old debt crisis. China has witnessed a sharp slowdown while the US too is likely to face problems once the measures to rein in fiscal deficit are in place next year. The uncertainty over the outcome of the US presidential election is another near-term overhang that needs to be taken into account”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5610 and the resistance is 5730. If Nifty breaks 5610, it may further go down to 5530 and then 5450. However, if Nifty is able to sustain above 5730, the level of 5790-5850 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5790-5850 in the upper side and 5500-5450 in the lower side”.

EMKAY GLOBAL FINANCIAL SERVICES: “We feel that the range entire range of 5,638-5,600 is the crucial pivot for the index. If at all Nifty breaks the support of 20-day MA near 5,638 then the internal trendline (green) drawn connecting the highs of 5,348 and 5,448 is strong enough to support the falling prices. Next minor halt should not be expected before 5,815 levels i.e. the high of October 05”.

R K GLOBAL: “In the week ahead, the market is likely to move sideways for a better part of the coming week. There might not be some smart rallies during the course of the week, as markets will be expected to remain volatile due to more Q2FY’13 results, so a sustained upside looks highly unlikely, given the uncertain near term outlook for the global economy”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 08.10.2012 TO 14.10.2012"

2012-10-07T13:37:00.006+05:30

The 30-share index, Sensex gained 175.72 points, or 0.94% to 18,938.46, a 15-month high. On the other hand, the broad based NSE Nifty gained 43.65 points, or 0.77%, to 5,746.95.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “The 5800 levels on the Nifty seemed to have acted as a resistance as the index failed to move above it convincingly. We expect the markets to weaken a bit and consolidate in the coming week. It is important that any correction in the coming week does not lead to the Nifty moving below the recent lows of 5638. Else the current uptrend would reverse”.

KOTAK SECURITIES (Sanjeev Zarbade): “Post the rally, market valuations are reasonable. The retail interest in the market is returning, which is a welcome sign”.

CANARA BANK SECURITIES (CanMoney): “Any minor correction may be used to build long positions in companies such as State Bank of India, Larsen & Toubro, Reliance Infra, ICICI Bank, Bank of Baroda, IDFC and HDIL etc.”.

BONANZA ONLINE: “Nifty made shooting star candlestick pattern on weekly charts, which shows that bears are trying to take control. Buying interest may be continuing above 5750 levels. Selling pressure may be seen below 5750 levels. For trading during the coming sessions, trend deciding level is 5750. If Nifty shows strength above 5750 levels then we may see rally till 5800/5860/5940. If Nifty doesn't sustain above 5750 levels then profit booking till 5700/5650/5580/5500 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5760-5780	5830	5735
For the Week	Buy	5740-5790	5875-5910	5710

GEPL CAPITAL: “The important level for Nifty is placed at 5870 where multiple resistances are seen and can be achieved if current rally continues. For long trading positions, strict stop loss of 5700 is recommended and profit booking is suggested if the target of 5870 is achieved. If the breakdown of 5700 is materialized, then next support level to watch is 5050 which is 50% retracement level”.

KARVY STOCK BROKING: “Long positions can be assumed in FMCG, Realty, Capital Goods, Banking, Energy, Metals and Cement sectors if markets hold 5750 levels. Short positions can be accumulated in IT, Pharma and Utilities if the Nifty fails to sustain above 5750 levels or below 5700 levels. Overall, we expect Nifty to trade in the range of 5650-5850 levels for next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “Going forward, the reforms momentum from the government is likely to continue. And with global liquidity being high, India would continue to attract strong FII inflows. We expect our equity markets to continue to do well. Distribution of fund flows from defensives to cyclical and high beta-sectors is likely to continue. Pockets of high beta stocks and mid-caps have a lot of room to move upwards”.

ICICI SECURITIES: “The Nifty has major support around 5680 levels, below which it may test its lower supports placed at 5600/5530 levels. On the higher side, 5800 will remain crucial for the week. Sustainability above 5800 may bring fresh momentum towards 5950. Major movement is expected among the mid-cap segment while the broader Nifty index may continue to exhibit range bound movement. The Bank Nifty is hovering at its straddle formed at the 11500 strike. From a trading prospective, 11200 levels are expected to extend strong support for the banking index while 10750 would be critical on the higher side”.

SMC TRADEONLINE (WISE MONEY): “The index witnessed a breakout from levels of 5400 and managed to breach the psychological level of 5800 mark in Oct series, led by FII buying. Closure of short positions was clearly evident. On the index options front, significant short accumulation was evident in the 5500 and 5600 put-option strikes. The 6000 call-option strikes also saw accumulation of short positions. However the calls witnessed a severe shed-off as Nifty broke past 5700 levels. Currently, option writing in OTM 6000 and 6100 call-option strikes suggest that upside is capped however current Nifty can move up to 5900 levels. Hereafter the range of 5700-5900 will remain crucial in the near term”.

GABA & GABA FINANCIAL ADVISORS PVT. LTD. (Prakash Gaba): "The market should see some more reaction in the days to come. Strong resistance 5810-5869 zones. The crucial support for the Nifty is at 5671 and the resistance is at 5810-5869".

(Mohit Gaba): "We have seen a very strong market in the last few weeks and I don't think we will give up these gains very easily, hence I would recommend going long on dips until the Nifty trades above 5,630 on the spot, like I have done on the Bank Nifty taking partial long positions already and will keep buying more on dips. The Nifty might need a few days more of consolidation before it tries to break out on the upside again".

ANGEL BROKING (Technical): “On the daily chart, we are now observing a negative crossover in momentum oscillators viz, the 'RSI' and the 'Stochastic'. This indicates a possibility of losing the current positive momentum and indices may correct/consolidate in the short term, if the 18740/5694 levels are breached. As a result, our market may drift towards its next support level of 18552-18291/5638-5534. However, keeping in mind the positive placement of monthly 'RSI' indicator and the ADX (9) indicator, our intermediate trend remains intact i.e. bullish. Going forward, only a sustainable move above 19138/5816 can push indices higher towards their next possible targets of 19542-19812/5850-5945 and even the possibility of testing 6000 (Nifty) cannot be ruled out".

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5700 and the resistance is 5820. If Nifty breaks 5700, it may further go down to 5620 and then 5550. However, if Nifty is able to sustain above 5820, the level of 5870-5940 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5850-5900 in the upper side and 5550-5500 in the lower side”.

CAPITALVIA GLOBAL RESEARCH: “On the weekly closing basis, Nifty sustaining above the breakout level, we may see index heading towards the level of 5,844 followed by 5,890 level. On the downside, support exists at 5710, 5630, 5530 and 5450”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 01.10.2012 TO 07.10.2012"

2012-09-30T13:13:00.002+05:30

The 30-share index, Sensex gained 9.91 points, or 0.05% to 18,762.74, a 15-month high. On the other hand, the broad based NSE Nifty gained 12.15 points, or 0.21%, to 5,703.30.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty moving above the previous highs of 5720 intraday, the underlying trend remains up. Our immediate upside targets for the Nifty in the coming week are at the previous intermediate highs of 5740. Weakness could emerge if the recent lows of 5638 are broken”.

KOTAK SECURITIES (Dipen Shah): “We believe that, markets will consolidate and move up in line with further announcements on core reforms, which are now widely anticipated. Any move from China to support its economy will be an added positive, particularly for commodities. However, opinion is mixed on this front”.

BONANZA ONLINE: “After showing strength for 3 consecutive weeks, Nifty made long leg Doji type candle stick pattern on weekly charts, which shows indecision among bulls and bears. Buying interest may be continuing above 5700 levels. If Nifty does not maintain above 5700 levels then profit booking may also be seen. Traders may take delivery based position in good stocks with stoploss levels. For trading during the coming sessions, trend deciding level is 5700. If Nifty shows strength above 5700 levels then we may see rally till 5750/5800/5860/5940. If Nifty doesn’t sustain above 5700 levels then profit booking till 5640/5590/5530/5450 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5720-5740	5795	5690
For the Week	Buy	5700-5740	5820-5880	5670

BONANZA PORTFOLIO (Rakesh Goel): “5,740 shall hold the key deciding point for further trend. Above 5,740, market can move upto 5,850-5,950 levels in coming sessions. Short positions must be avoided in such an uptrend and Investors may also book partial profits at current levels. On the downside, 5,640-5,580 shall be support levels”.

GEPL CAPITAL: “Nifty tested the level of 5720 and surged past it marginally. It finally ended the day with a gain of 53 points at 5703. We maintain a view of profit taking near present levels as there is a possibility of a corrective decline till 5600 to 5550. The decline may be used as an opportunity to create long positions for an impending target of 5900 over the coming few days”.

KARVY STOCK BROKING: “Long positions can be assumed in IT, Energy, Banking, Utilities, FMCG, Cements and Capital Goods sectors if markets hold 5750 levels. Short positions can be accumulated in Metals and Realty if the Nifty fails to sustain above 5750 levels or below 5700 levels. Overall, we expect Nifty to trade in the range of 5600-5800 levels for next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “The government is likely to take steps to fast-track infrastructure projects and resolve pricing issues for imported coal based UMPP(s). Urea price hike could be implemented anytime soon. We expect our equity markets to continue to outperform. Pockets of high beta stocks and mid-caps have a lot of room to head northwards”.

ICICI SECURITIES: “The declines in the market can be utilised to go long with supports placed at 5600/5530. On upsides, one should target upsides till 5800. We expect the mid-cap space to witness momentum in the coming sessions. The major support for the index is placed at 11000 where highest Put base is placed. The noticeable Call base is placed at 11500, which would be the immediate hurdle above which one can expect short covering to pan out again towards 11900”.

TRADEONLINE (WISE MONEY): “The range of 5550-5800 will remain crucial in the near term. Breach below the 5550 mark could see the Index declining sharply to 5400 levels. Nifty has sustained above the crucial support of 5650. Short term indicators are indicating upside momentum to continue above 5700. It is likely to hover in the range of 5550-5800 levels for the week”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The trend is still intact up and has not been compromised and the next logical target on the way up is 5768-5810-5869. I would say that the market can be considered up as long as 5640 holds. The crucial support for the Nifty is at 5640 and the resistance is at 5768-5810-5869”.

ANGEL BROKING (Technical): “The Indices have strong support near to 18291/5534 level. Any decline towards these levels will be an opportunity to buy. We reiterate our view that once the indices move beyond 19132/5741, then our markets are likely to rally towards the next possible target of 18542-19812/5850-5945 and even the possibility of testing 6000 (Nifty) cannot be ruled out”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5620 and the resistance is 5750. If Nifty breaks 5620, it may further go down to 5560 and then 5500. However, if Nifty is able to sustain above 5730, the level of 5820-5900 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5800-5850 in the upper side and 5600-5450 in the lower side”.

"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 24.09.2012 TO 30.09.2012"

2012-09-23T12:01:00.000+05:30

The 30-share index, Sensex climbs 288.56 points, or 1.56% to 18,752.83, a 14-month high. On the other hand, the broad based NSE Nifty gained 113.5 points, or 2.03%, to 5,691.15.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “While the sentiments in the coming week could continue to remain positive, we expect some correction at higher levels to set in during the middle of the next week after a strong rally this week. We expect Sensex to trade in the range of 18400-19000 during the next week”.

KOTAK SECURITIES (Dipen Shah): “We are enthused by the reform initiatives announced by the Government. These initiatives open the doors for foreign monies to flow in. However, we believe that, these will now have to be followed-up by some of the core reforms, which will encourage further investments in the manufacturing segment and hence, attract more money”.

CANARA BANK SECURITIES (CanMoney): “Next week, Domestic and global cues will continue be the major driver for our market. The short-term trend remains bullish and the index is on course to hit the immediate target of 5,750-5,800. The price patterns and the momentum also strengthen the case for a push to the major target at the 6,000-level. As long as the index trades above the support at 5,400, it would reasonable to expect the Nifty to hit the target of 6,000. Major Support & Resistance for Nifty are 5775/5850/5945 and 5640/5580/5525”.

BONANZA ONLINE: “Nifty showed strength for 3^rd consecutive week and closed above 5650 levels. Buying interest may be continuing above 5700 levels. If Nifty does not maintain above 5870 levels then profit booking may also be seen. Traders may take delivery based position in good stocks with stoploss levels. For trading during the coming sessions, trend deciding level is 5700. If Nifty shows strength above 5700 levels then we may see rally till 5750/5800/5860/5940. If Nifty doesn’t sustain above 5700 levels then profit booking till 5640/5590/5530/5450 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Sell	5700-5720	5650	5750
For the Week	Sell	5700-5750	5625-5600	5780

GEPL CAPITAL: “The next target on the upside in the immediate term is placed at 5740. Any decline in the immediate term may find buying support near 5600 and below that 5525 has emerged as a strong support. The present momentum would remain intact as long as Nifty trades above the level of 5525. On the upside the positional target of Nifty is placed in the vicinity of 5870 to 5900”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto, Metals, FMCG, Capital Goods, Banking and Telecom sectors if markets hold 5650 levels. Short positions can be accumulated in Pharma, IT and Utilities if the Nifty fails to sustain above 5650 levels or below 5600 levels. Overall, we expect Nifty to trade in the broad range of 5550-5850 levels for next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “With the government finally showing signs of strong resolve, expectations have risen of further reforms, especially in infrastructure. Sector-wise, high betas showed strong out-performance with indices of banks, capital goods, power and realty gaining between 6%-9%. Our markets are likely to attract strong FII inflows. The rally in our equity markets seems set to continue. Further progress in reforms could help our markets create new highs. High beta stocks are likely to continue their out-performance”.

ICICI SECURITIES: “We expect the Nifty to remain positive during the settlement week and the index may settle the September series near highs. However, 5800 levels may prove crucial for the Nifty and it may consolidate around these levels for some time. In the meanwhile, mid-cap stocks may continue their upward momentum. The Bank Nifty witnessed a significant recovery due to significant covering in private sector heavyweights. Fresh long addition was observed among PSU mid-cap stocks. We expect the Bank Nifty to trade with a positive bias while major support can be seen around 11000 levels”.

SMC TRADEONLINE (WISE MONEY): “Hereafter, the range of 5500-5700 will remain crucial for current expiry and the move is expected to remain volatile. If Nifty slips below the 5650 mark, it could slide to 5580 levels due to increased selling pressure. On the contrary, the index may face stiff resistance at 5700-5750 levels”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): The crucial support for the Nifty is at 5620 and the resistance is at 5768”.

ANGEL BROKING (Technical): “Considering all the above technical evidences, we can infer that if indices sustain above 19132/5741, then our benchmark indices are likely to rally towards the next possible target of 19542-19812/5850-5945 and even the possibility of testing 6000 (Nifty) cannot be ruled out. However, it would be very difficult to judge whether these targets would be achieved in the current leg of the rally or post a correction/consolidation before moving higher. The traders who have missed this rally should now ideally wait for a pull back (if any) towards the support levels of 18291-18000/5534-5450 and then initiate fresh long positions in the market”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5620 and the resistance is 5730. If Nifty breaks 5620, it may further go down to 5560 and then 5500. However, if Nifty is able to sustain above 5730, the level of 5820-5900 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5750-5850 in the upper side and 5550-5500 in the lower side”.

EMKAY GLOBAL FINANCIAL SERVICES: “On technical front, we still feel that the gap of Sept. 14, 2012 i.e. 5,447-level is an important pivot and till the time that gap is open bulls are safe and will escort the overall market in the near future. Still the series of rising troughs in place and that has kept our hopes of 5,800-level alive on Nifty. Also the bullish cycle of daily KST and MACD histogram are in motion and that indicates that upward momentum is still well in place”.