At the close, the benchmark 30-share index, BSE Sensex added 117.11 points or 0.73% at 16,154.62 with 19 components registering rise. Meanwhile, the broad based NSE Nifty climbed by 34.75 points or 0.72% at 4,866 with 34 components posting rise.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “With the markets ending higher, the underlying trend remains up. Immediate upside targets are at 4910. Crucial supports to watch on the downside are at 4840-4800”.
CANARA BANK SECURITIES (CanMoney): “Technically, after exhibiting modest surge in last session, Nifty witnessed a very volatile session and closed after modest cuts. Level wise, closing above the threshold 4860 levels may extend support to the bulls in the forthcoming sessions. Broader market witnessed firm sentiments and all segments large-cap, mid-cap and small-cap segments were closed on positive note. Owing to this firmness, bulls regained the control from bears and that’s too with good margin. On account of good performance, Nifty displayed stability and remained above its vital 9, 14 and 50 day’s SMA placed at 4794, 4752 & 4851 but closed below 100 day’s SMA placed at 4936. VIX, the barometer of uncertainty, corrected sharply and closed at 23+, thus it indicates lesser than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 56.97 levels and MACD closed above the signal line. Market may continue to witness some recovery in forthcoming session amidst higher volatility”.
FAIRWEALTH SECURITIES: “In the next session Nifty is expected to trade in the range 4830-4930. Below the range 4800 and 4770 may act as support levels while 4950 would be a strong resistance level. Bank Nifty has 9090 as strong resistance level, If sustained below 8850, it may face selling pressure”.
BONANZA ONLINE: “Nifty showed good strength during the week and closed in green with long white candlestick. However, Nifty has resistance in 4850-4900 zones and further buying interest may be seen if Nifty maintains above 4900 levels. On downside, Nifty has some support in 4800-4750 zone. For trading during the coming sessions, trend deciding level is 4850. If Nifty shows strength above 4850 levels then we may see rally 4900/4950/5025/5100. If Nifty doesn't sustain above 4850 levels then selling pressure till 4800/4750/4670/4600 may also be seen”.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “With the markets ending higher, the underlying trend remains up. Immediate upside targets are at 4910. Crucial supports to watch on the downside are at 4840-4800”.
CANARA BANK SECURITIES (CanMoney): “Technically, after exhibiting modest surge in last session, Nifty witnessed a very volatile session and closed after modest cuts. Level wise, closing above the threshold 4860 levels may extend support to the bulls in the forthcoming sessions. Broader market witnessed firm sentiments and all segments large-cap, mid-cap and small-cap segments were closed on positive note. Owing to this firmness, bulls regained the control from bears and that’s too with good margin. On account of good performance, Nifty displayed stability and remained above its vital 9, 14 and 50 day’s SMA placed at 4794, 4752 & 4851 but closed below 100 day’s SMA placed at 4936. VIX, the barometer of uncertainty, corrected sharply and closed at 23+, thus it indicates lesser than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 56.97 levels and MACD closed above the signal line. Market may continue to witness some recovery in forthcoming session amidst higher volatility”.
FAIRWEALTH SECURITIES: “In the next session Nifty is expected to trade in the range 4830-4930. Below the range 4800 and 4770 may act as support levels while 4950 would be a strong resistance level. Bank Nifty has 9090 as strong resistance level, If sustained below 8850, it may face selling pressure”.
BONANZA ONLINE: “Nifty showed good strength during the week and closed in green with long white candlestick. However, Nifty has resistance in 4850-4900 zones and further buying interest may be seen if Nifty maintains above 4900 levels. On downside, Nifty has some support in 4800-4750 zone. For trading during the coming sessions, trend deciding level is 4850. If Nifty shows strength above 4850 levels then we may see rally 4900/4950/5025/5100. If Nifty doesn't sustain above 4850 levels then selling pressure till 4800/4750/4670/4600 may also be seen”.
Duration | Action | Entry Zone (NF) | For Target of | Stop Loss |
For Monday | Buy | 4850-4870 | 4935 | 4835 |
For the Week | Buy | 4820-4870 | 4980-5020 | 4780 |
BONANZA PORTFOLIO (Shanu Goel): “Nifty managed to trade with a positive momentum today amid high volatility. As of now, the level of 4900-4910 is providing resistance on the upside. Above 4910, next resistance is at 4945. HCL tech and TCS results on 17th Jan are likely to provide the next trigger for the market”.
KARVY STOCK: “The market is expected to take cues from the global markets and open on a flat note. Trade long in the Nifty at 4,820 levels with a stoploss at 4,800 for targets of 4,870-4,900 levels”.
VENTURA SECURITIES LIMITED: “On Monday, 4868-4885 would be sell levels. Weak markets won’t cross 4876. Above 4885, nifty could test 4898 (Friday’s high) further it could open for 4976-5068-5215. Nifty has support at 4834 (Friday’s low). Below it could open for 4811-4758-4714-4671-4610”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “For the week ahead, markets would keenly watch the Dec. Monthly WPI number and the results of frontline IT names of TCS and HCL Tech, banking names like HDFC bank, Axis bank and Bajaj Auto. With risk aversion diminishing, there would be temptation to nibble at beaten down stocks with high debt and not-so-good corporate governance records. However, we recommend investors to remain confined to quality blue chip stocks and gradually start accumulating quality mid-cap stocks with strong business model, healthy balance sheet and with good corporate governance practices”.
ICICI SECURITIES: “The Nifty may continue to trade in a range in the coming week till 4935 is not taken out on a closing basis. The highest Call base is at 4900 and 5000 strikes. Hence, selling pressure may be observed at higher levels. On the downside, 4800 may continue to extend support and only a move below these levels may be considered as change of bias. The Banking index continued to outperform the Nifty as short covering was experienced in most of the banking heavyweights. The Bank Nifty has also observed closure of short positions during the week. On the higher side, 9250 is expected to be a crucial resistance while 8800 should act as immediate support”.
SMC TRADEONLINE (WISE MONEY): “Nifty is likely to consolidate in the current range (4700-4900) with choppy behaviour. However, the 4930 level will remain crucial level. On the contrary, the index has strong support at 4700 levels. The put-call ratio of open interest rose to 1.34 from 1.23 levels indicating further put writing. The option's open interest concentration on call side has good build-up at 4900 and 5000 level with open interest above 60 lakhs each. Among put options, the 4700 & 4600-strike put options have open interest more than 70 lakhs shares each; indicating strong support. The implied volatility (IV) of call options closed at 23.05% on Thursday, while the average IV of put options closed at 23.50%. Market may see some profit booking in this week as market is reaching upper side of its trading range. Closing above 4950 may bring fresh momentum in Nifty for the upside”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically the market is up and has registered an up move capable of a further upside up to 4965-5025 zones. From trading point of view, I would trade long as long as 4800 holds. The support for the Nifty is at 4800 and resistance at 4930-4946”.
ANGEL BROKING (Technical): “After several attempts, markets finally managed to break out from the stiff resistance zone of 16070/4820, which also resulted in ‘Downward Sloping Trend Line’ break out on the daily chart. Going forward, the bias remains positive as indices are trading convincingly above the 20 day EMA and have formed a ‘Higher Top Higher Bottom’ formation on the daily chart. Further, looking at last 2-3 trading sessions, we have observed that indices are facing headwinds around the 61.8% Fibonacci retracement level of 16290/4881. Further, the positive crossover in weekly oscillators is still intact. Hence, the positive momentum may resume if indices sustain above the 16421/4920 level. In this case, they are likely to head towards the next resistance levels of 16600-17004/4976-5100. On the downside, indices have a decent support near 15962-15940/4803-4780 levels. A move below 15940/4780 level may result in loss of positive momentum and then indices are likely to slide towards the 16000/4686 level”.
MICROSEC SECURITIES: “The daily chart of Nifty is showing that it has given a bullish break out of ‘Triangle pattern’ neck line at 4800 on Tuesday. Now it is facing a stiff resistance near 4920. A breach of 4920 would open the gate for 5050 in the extreme short term. However, a breach of 4750 would indicate the end of current rally and in that case Nifty may further go down to 4640. For the coming week, first support of Nifty is at 4800 and the resistance is 4920. If Nifty breaks 4800, it may further go down to 4750 and then 4640. However, if Nifty is able to sustain above 4920, the level of 4980-5050 would become the next target”.
INDIRATRADE SECURITIES: “India’s industrial production (IIP) bounced back in November 2011 to 5.9% compared with de-growth of 5.1% in last month. Last week inflows of funds from FIIs & expected rate cut from RBI in policy will help market to take a positive rally. We believe that the positive rally will continue in third week and nifty will trade in a range of 4750-5100”.
JRG EQUITY RESEARCH (IndiTrade): “The critical level support for NSE Nifty is expected at 4800. The trend will possible remain better if sustains above this on a closing basis. The upside resistance for the market is seen at 4970. Further upside will happen only if the index closes and sustains above this. On downside, the major support for the short-term will be 4670”.
INVENTURE GROWTH & SECURITIES: “Indian markets have ended the week on strong footing. However, towards the end of the week broader markets did show signs of weakness. During the week, bullishness was seen in mid-caps and small-caps especially infra names. On the upside Nifty has resistance at 4,910-4,930 and on the downside, 4,720 acts as a support in the near term”. (source: myiris)
UNICON WEEKLY: “Technically Nifty on weekly chart has formed bullish candle stick pattern, which shows positive sentiment on weekly closing basis. Oscillators like RSI is showing positive crossover in weekly chart, which shows supports are good for buying opportunity. Nifty closed above the 20 day moving average (4737) indicating the short term trend could be turning positive. Short term stochastics are showing oversold territory and positive sentiment till resistance levels at 5075-5140. The market setup is somewhat positive with trading range between 4735-5100 on weekly basis. The next area of resistance is around at 5075-5140 and supports are at 4800-4735. If Nifty trades below 4725, it may take supports at 4600. Weekly Nifty has resistance at 5075-5140 and supports at 4800-4735. Weekly Sensex has resistance at 16750-17000 and supports at 15950-15750. Weekly Bank Nifty has resistance at 9250-9460 and supports at 8620-8400”.
R K GLOBAL: “In the week ahead, we expect some moderation to take place and that might falter the markets in favour of the bears, as France, along with 8 other EU nations were downgraded by S&P on late Friday. We expect this will impact the market negatively on Monday”.
MAGNUM RESEARCH: “On the Nifty, 4900 levels on closing basis will continue to be the Major Resistance. If we cross this, 5070 level would become the next valid move. On the downside, we may witness a strong support near 4700 levels but closing below this level for consecutive two or more session may trigger another downfall till 4500 psychological level”.
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