At the close, the benchmark 30-share index, BSE Sensex added 510.13 points or 3.36% at 15,685.21 with 28 components posting rise. Meanwhile, the broad based NSE Nifty climbed by 148.95 points or 3.28% at 4,693.15 with 45 components registering rise.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Today, we expect the Indian Markets to open in the green on the back of positive global cues & trade in a range with positive bias throughout the session. Immediate support for Nifty is at 4650, while the resistance is at 4800”.
KOTAK SECURITIES (SHRIKANT CHOUHAN): “Nifty has strong support at 4,680 levels. Current Trend of the market in the short term is positive. Sustaining above the levels of 4,680 will be positive for the markets, in that case will be exposed to higher levels of 4,770 and 4,900. Up move in the market will face stiff resistance at 4,770 levels, closing above the same on weekly basis will lead to higher levels. On the lower side breach of 4,680 will be viewed negatively for lower level targets of 4,630 and 4,580”. (source: myiris)
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Today, we expect the Indian Markets to open in the green on the back of positive global cues & trade in a range with positive bias throughout the session. Immediate support for Nifty is at 4650, while the resistance is at 4800”.
KOTAK SECURITIES (SHRIKANT CHOUHAN): “Nifty has strong support at 4,680 levels. Current Trend of the market in the short term is positive. Sustaining above the levels of 4,680 will be positive for the markets, in that case will be exposed to higher levels of 4,770 and 4,900. Up move in the market will face stiff resistance at 4,770 levels, closing above the same on weekly basis will lead to higher levels. On the lower side breach of 4,680 will be viewed negatively for lower level targets of 4,630 and 4,580”. (source: myiris)
CANARA BANK SECURITIES (CanMoney): “Technically, after exhibiting significant losses in last session, Nifty witnessed a good & gainful session and closed with exalted gains. Level wise, closing above the threshold 4700 levels may depict returning strength of the bulls in the forthcoming sessions. Broader market witnessed firm sentiments, segments, like large-caps, small-cap, mid-cap were under bulls support. Owing to this, bulls outnumbered the bears with significant margin. Due to buying Nifty recover significantly and closed above 9 day’s SMA placed at 4701 but, continued to close below its vital 14, 50 & 100 day’s SMA placed at 4805, 4983 & 5025. Though, VIX, the barometer of uncertainty, corrected sharply and closed at 26+, yet it indicates a more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 44.08 levels and MACD closed below the signal line. Market may continue to witness limited upward movements in forthcoming session amidst higher volatility”.
BONANZA ONLINE: “On upside, Nifty has some resistance near 4,750 levels. Buying momentum may be continuing above this level. On the other hand, if Nifty don’t maintain above 4,750 levels then profit booking may also be seen. For daily purpose, trend deciding level is at 4750. If Nifty shows strength above 4,750 levels, then rally to 4,810/4,840/4,900 may be seen. If Nifty does not show strength above 4,750 levels then selling pressure till 4,710/4,670/4,620 may also be seen”.
BONANZA PORTFOLIO (Shanu Goel): “Nifty had made two consecutive positive closings with substantial gains. As expected the technical recovery or short covering has led Nifty to bounce back to the resistance level of 4,740-4,750. Sentiments have improved considerably, however the trend is expected to become bullish only after 4,750 levels is breeched on daily closing basis. With inflation rate slowing down quite remarkably, buying interest can be seen in interest rate sensitive sectors like Banks, realty, capital goods stocks etc. Fundamentally strong banking and capital goods stocks can be accumulated at current levels. Global developments will continue to influence the market direction”.
KARVY STOCK: “The market is expected to take cues from the global markets and open on a flat to positive note. The market might witness another round of short covering in tomorrow’s trade. Trade long in Nifty if it sustains above 4,700 levels with a stoploss of 4,680 for targets of 4,750. Alternatively, trade short in Nifty below 4,680 levels or if the Nifty fails to cross 4,750 levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Nifty today had witnessed a strong recovery in the second part of the day and managed to close well above the previous close of 4,693 and above 4,700. We may see some more upside to the market till tomorrow noon and profit taking in the second part of the day. Nifty is having resistance at 4771 and 4800 while the support is there at 4,686 and 4,664 levels”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market unfolded as expected and closed in the green after consolidating in the lower regions…like I said the next logical target is 4815…The support for the Nifty is at 4630 and resistance at 4815”.
MICROSEC SECURITIES: “The short term crucial resistance of Nifty is at 4825. If Nifty is able to maintain above 4825, it may further go up to the level of 4920 and then 5000 in the extreme short term. However, a breach of 4530 would indicate the end of current rally and in that case Nifty may test the level of 4420 and then 4350 in the extreme short term. Traders are advised to maintain a strict stop loss at 4530 of the long positions. On an intra-day basis Nifty has a support at 4700 and is likely to face a stiff resistance near 4770. If Nifty breaks 4700, it may further go down to 4650 and then 4600. However, if it is able to sustain above 4770, the level of 4820–4860 would become the next target”.
INVENTURE GROWTH & SECURITIES: “Nifty has reached its resistance zone of 4,730-4,750 and traders must be extremely cautious and should book profits regularly. On the upside resistance, the next meaningful resistance above 4,750 is at 4,840 level. And on the downside, supports are placed at 4,640 and 4,525”.
GEPL CAPITAL (SHORT-TERM OUTLOOK): “The immediate support for Nifty is placed at 4520 and breach of this level will show panic selling heading towards 4300. But sustaining above 4650 is likely to trigger a bounce back, pushing Nifty Futures in the zone of 4700-4750. The timing cycle day on 19th December is indicating higher probability of bounce back which will get confirmed above 4650. Till Nifty trades below 4850, the bear grip is likely to remain in the market keeping the trend in downward direction”.
FAIRWEALTH SECURITIES: “Nifty is expected trade in a range 4666-4775. Below the given range 4611 would be a strong support for the session. While 4820-30 may act as major resistance level. In bank Nifty 8550 would be major resistance level”.
GEPL CAPITAL: “Nifty Futures gained 220 points in last 3 trading sessions and closed above 4700 showing strength in the current bounce back. Now the important zone to watch is placed between 4800-4850, where a triple top structure is seen on daily chart. Closing and sustaining above 4850 will push Nifty Futures towards 5000 mark in next week. Now the stop loss for long trading positions is revised to 4650 levels with target between 4820-4840. The Short term RSI on daily chart has cut the trigger line in upward direction suggesting 4850 in the vicinity of Nifty Futures. Previous weekly close was seen at 4643 and current weekly close above this level will show diminishing power of bears. The intermediate trend of Nifty Futures will remain in downward direction till the weekly close is below 5275 mark. The intraday resistance levels for Nifty Futures are placed at 4790 & 4840 and support levels are placed at 4710 & 4660 respectively”.
INDIRATRADE SECURITIES: “Thursday was a gap-down opening in the markets but they made a U-turn in the last hour of trade to close with the gains of around 0.75%. Realty, banking, consumer durables and auto were the best performers in session while oil & gas and capital goods, too, made substantial gains. IT remained the sole sector to close negative. For today’s trade, market likely to trade in the range between 4750 & 4810 in the upper side and 4710 & 4650 in the lower side”.
INDIRATRADE SECURITIES: “Thursday was a gap-down opening in the markets but they made a U-turn in the last hour of trade to close with the gains of around 0.75%. Realty, banking, consumer durables and auto were the best performers in session while oil & gas and capital goods, too, made substantial gains. IT remained the sole sector to close negative. For today’s trade, market likely to trade in the range between 4750 & 4810 in the upper side and 4710 & 4650 in the lower side”.
JRG EQUITY RESEARCH (IndiTrade): “Indian markets are expected to open higher on Friday reflecting the positive cues in Asian markets, which rose on positive US economic data. The NSE Nifty may open above its Critical level of 4740 and may continue to move up in the morning session. The first target for the day is at 4782 and if the benchmark manages to sustain above this level during the mid-session coupled with positive data from European markets, then Nifty may try to test 4800 mark today. The major resistance for the weekend is at 4826.However below the Critical level 4740,the index may show marginal downside trend towards the lower support at 4717.A fall below this support may once again weaken the trend and can drag the index towards the major support at 4682”.
NIRMAL BANG SECURITIES: “Nifty has given a smart bounce from the support level of 4531 level which indicates a short covering from the support level. Nifty kept a good closing above 4720 level indicates a slight bullishness in the indices which will take Nifty towards 4800/4840 with a strong support of 4630/4580”.
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