The benchmark 30-share index, BSE Sensex gained 472.93 points or 2.95% at 16,524.03 with 29 components registering rise. Meanwhile, the broad based NSE Nifty climbed by 135.85 points or 2.81% at 4,971.25 with 48 components posting rise.
FIIs were net sellers with the tune of ` 34.08 crore whereas DII were net buyers of ` 270.05 crore on Tuesday, the 27th September 2011(prov. fig.)
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Today, we expect the Indian Markets to open on a flat note and later inch upwards during the day. Support on Nifty is at 4,950-4,900 while resistance is at 5,011. Among the indices, Oil & Gas, Metals and Banking stocks could do well”.
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty made a big bullish candle in today’s session and broke the jinx of lower lows and lower high patterns, continued for last seven sessions. Despite a very intelligent up-move, Nifty needs to confirm today’s bullish candle in coming sessions. As market was flush with buying sentiments in heavyweights, not only it closed the session, nearing session’s high point, but we may also witness some actions in forthcoming sessions. On account of buying dominance, Bears were outpaced by bulls to gain full control of the market and because of this buyers may get strength in coming session. In today’s session, Nifty overcame its vital resistances of 4900 and 4960. Despite a good show, Nifty closed below the vital supports of 9 & 14 day’s SMA placed at 5007 and 5014. 50 & 100 day’s SMA levels were recorded at 5166 & 5335 levels, i.e. above the Nifty closing; these may be the resistances in forthcoming sessions. Buying in Large Caps, Small cap & Mid cap boosted Bulls to snatch control from bears, because of which, Indices closed with positive market breadth. In today’s session, VIX, the barometer of uncertainty, closed at a higher level of 32.01, indicating more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 46.42 levels and MACD closed below the signal line, thus combined together they are giving the signals that; market may continue to witness limited upward movement in forthcoming session”.
FAIRWEALTH SECURITIES: “The Nifty has had a solid trading session, has had a positive opening, has moved just one way, has received buying support even at higher levels, has come off from its intra-day low and has finally ended in positive territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 4972 level while significant resistance at higher levels (5005) – would limit the upside. The outlook has turned negative again while resistance comes in at the 5182+ level and support comes in at the 4293 level”.
BONANZA ONLINE: “Nifty saw good recovery in a one-sided upward rally. Intraday support was seen in 4900-4930 range. Short term trend is positive, however, medium term trend continues to be weak. For Daily Purpose, Trend deciding level is 4980. If Nifty shows strength above 4980 levels, then rally to 5025/5060/5100 may be seen. If Nifty does not show strength above 4980 levels then selling pressure till 4930/4865/4825 may also be seen”.
BONANZA PORTFOLIO (Shanu Goel): “Market is expected to be volatile, as it is September derivative expiry week. Global developments along with domestic news are going to influence the market trend for the time being. Nifty is trade within the range of 4700-5100”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow. Trade long in Nifty at 4,980 levels else 4,950 levels with a stoploss at 4,930 for targets of 5,020 and 5,030 levels”.
GEPL CAPITAL: “Nifty bounced back sharply in the last two sessions while respecting the support level of 4720. However in the immediate term till the time it trades below the level of 5080 it still remains susceptible to declines. On the higher side it may face resistance at 5011 in intraday trade. We maintain a bearish view till Nifty trades below 5080. In the event 5080 is breached it may move up higher. On the downside the level of 4880 would now be a support in the immediate term. Nifty is placed near a make or break level where either side breakout of either 5080 or 4880 would confirm the next directional move in the next few days”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically the market could see some more upside to 5037-5095. The support for the Nifty is at 4900 and resistance at 5037-5095”.
ANGEL BROKING (Technical): “As expected and mentioned in our previous report, indices gradually moved towards 16368–16490/4930–4960 levels after sustaining above the high of 16210/4880 evel. We are now observing that the “20 Day EMA” is placed at 16670/5010 level which almost coincides with 61.8% Fibonacci retracement level of the fall from 17191 to 15801/5169 to 4758. Consequently, in the coming trading session, there is a high probability that indices may face some selling pressure while approaching this above mentioned resistance level. Thus, we advise our short term traders to book profits on their longs and adopt a stock specific approach in coming trading session as indices are heading towards this strong resistance zone. On the downside, 16368–15996/4930–4868 levels may act as support in coming trading session”.
IIFL (Amar Ambani): “A worldwide relief rally seems to be underway right now amid optimism that European leaders will step up efforts to quell the region’s chronic credit crisis. Barring China, most Asian markets were up sharply. European equity indices also extended gains, rising 2-3%. US stock futures also pointed to a higher opening. Not only that, precious metals rallied after Monday’s crash and the dollar declined. Crude oil futures also advanced. In short, risk tolerance has improved. But, it remains to be seen whether the current momentum sustains in the absence of concrete measures to rein in the euro-zone debt crisis”.
MICROSEC SECURITIES: “Nifty has given a pull back rally of 4.70% in last couple of days. Yesterday the bulls were also able to manage it above 4970. Now we expect this rally would be continuing for another few days and Nifty may go up to 5060 and then 5110. However, a breach of 4900 would indicate the end of current rally and in that case it may further go down and take support in the band of 4700-4650. Traders are advised to hold long positions with a strict stop loss of 4900. On an intra-day basis Nifty has a support at 4950 and is likely to face a stiff resistance near 5005. If Nifty breaks 4950, it may further go down to 4925 and then 4900. However, if it is able to sustain above 5005, the level of 5025–5060 would become the next target”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 16,453/4,953 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16,623–16,722/5,001–5,031 levels. However, if Nifty trades below 16,453/4,953 levels for the first half-an-hour of trade then it may correct up to 16,354–16,184/4,923–4,875 levels”.
INDIRATRADE SECURITIES: “The markets closed with significant gains on Tuesday on account of positive global cues. Realty and IT were the biggest gainers in session and banking and oil & gas too, gained substantially. Primarily, it was large cap counters that led the rally and ADAG stocks, too, provided boost to the markets. Oil marketing companies were the only few stocks that lagged in bullish trade. For today’s trade, market likely to trade in the range between 4990 & 5040 in the upper side and 4940 & 4910 in the lower side”.
NIRMAL BANG SECURITIES: “The market snapped four-day losing streak after rallying 500 points intra-day, led by strong global support and short covering. The trend still continues to remain negative but looking at today’s rally it seems that if nifty future manages to hold 4970 in the near term then there is a possibility that we could head further up to 5040 levels shortly”.
SWASTIKA INVESTMART: “On Daily charts, we can observe that the momentum oscillator RSI has changed direction, now are northbound. For the coming session, we can see 4940/4900/4870 as the supports. On higher levels, 5015 is the immediate resistance for it and any gains above these levels are likely to face stiff resistance at 5070/5105. Due to F&O expiry this week, volatility will remain high so traders are advised to trade with strict stop-loss”.
HEM SECURITIES: “The market snapped four-day losing streak on Tuesday after rallying 500 points intra-day, aided by strong global support and short covering in the most beaten down stocks. Expectation of a well co-ordinated bailout plan for Europe triggered a rally across globe. For tomorrow, markets are expected to be upward”.
FOR TECHNICALS/DAY CALLS, “READ HERE”
No comments:
Post a Comment