The 30-share index, Sensex climbs 780.54 points or 4.41% to 18,464.27, a
14-month high. On the other hand, the broad based NSE Nifty gained 235.55
points, or 4.41%, to 5,577.65.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “With the Nifty breaking out of the previous intermediate highs of 5449, the trend remains firmly up. The Nifty could now be headed towards the next intermediate highs of 5630 in the coming week. Weakness could emerge if the supports at 5540 are broken”.
CANARA BANK SECURITIES (CanMoney): “Though on the domestic side RBI announcement on Monday will have the major impact on market direction, yet the decision taken by GOI on Friday may hold major clout on buyers’ decision in next week. Major Support & Resistance for Nifty are: 5525/5490/5550 & 5610/5660/5690”.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “With the Nifty breaking out of the previous intermediate highs of 5449, the trend remains firmly up. The Nifty could now be headed towards the next intermediate highs of 5630 in the coming week. Weakness could emerge if the supports at 5540 are broken”.
CANARA BANK SECURITIES (CanMoney): “Though on the domestic side RBI announcement on Monday will have the major impact on market direction, yet the decision taken by GOI on Friday may hold major clout on buyers’ decision in next week. Major Support & Resistance for Nifty are: 5525/5490/5550 & 5610/5660/5690”.
BONANZA ONLINE: “Nifty showed strength for 2nd consecutive week and
breakout above 5400-5450 resistance zones. Buying momentum may be continuing
above 5550 levels. If Nifty doesn’t not maintain above 5550 levels then some profit
booking may also be seen. For trading during the coming sessions, trend deciding level is 5550. If Nifty shows
strength above 5550 levels then we may see rally till 5625/5700/5750/5800. If
Nifty doesn’t sustain above 5550 levels then profit booking till 5500/5450/5400/5350
may also be seen”.
Duration
|
Action
|
Entry Zone (NF)
|
For Target of
|
Stop Loss
|
For Monday
|
Buy
|
5580-5595
|
5650
|
5560
|
For the Week
|
Sell
|
5660-5700
|
5580-5550
|
5735
|
VENTURA SECURITIES LIMITED: “On Monday (5564-5550-5540) would be buy levels. Strong Market won’t break 5557. Above 5564 Nifty could test 5586 (Friday’s high),
further it could open for 5648-5950. Nifty has support at 5526 (Friday’s low). Below it
could open for 5499-5445-5402-5358”.
GEPL CAPITAL: “The Trend now has turned firmly positive and an upside till 5650 appears likely, now the range of 5450 to 5510 has emerged as a major support zone for Nifty for the immediate term. As long as Nifty manages to trade above this support zone the Trend would remain firm. The level of 5330 is now a major support and a Trend Reversal level for Nifty. The Trend would turn bearish only on a breach of 5330”.
KARVY STOCK BROKING: “Long positions can be assumed in metals, cements, FMCG, capital goods, banking and telecom sectors if markets hold 5500 levels. Short positions can be accumulated in pharma, IT and utilities if Nifty fails to sustain above 5500 levels or below 5450 levels. Overall, we expect Nifty to trade in the broad range of 5450-5700 levels for next week”.
ICICI SECURITIES: “The Nifty may continue to trade with a positive bias towards its previous highs of 5630. A breach of this level may trigger further short covering towards 5680. On downsides, we expect 5400-5450 to act as strong support. The Bank Nifty saw sharp short covering in Friday’s session, breaching the highest Call base of the 10500 strike. Short covering in PSU banking stocks may continue and the Bank Nifty is expected to remain positive till it holds above 10500. In such a scenario, it may test 11000 on the higher side”.
SMC TRADEONLINE (WISE MONEY): “The options open interest concentration has shifted to the 5400-strike and 5300-strike put, with the highest open interest of above 79 lakh shares, while the latter has an open interest of more than 89 lakh shares. Meanwhile, among call options the 5600-strike call has the highest open interest of more than 80 lakh shares indicating immediate resistance level. The overall market added open interest last week with cost-of-carry rising indicating addition of long positions. The Nifty is expected to remain in a range of 5400-5700 levels this week with positive biased”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically a breakout has come in and the market should see some higher levels in the days to come. The crucial support for the Nifty is at 5500 and the resistance is at 5630-5646”.
ANGEL BROKING (Technical): “Going forward, looking at the strong higher top higher bottom structure on the daily as well as weekly chart and the placement of the ADX (14) indicator, we expect markets to move higher towards 18945-19132/5702-5741 levels. The traders who have missed this rally should now ideally wait for a pull back (if any) up to 17973-17800/5449-5380 and then create fresh long positions in the market”.
INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5700-5750 in the upper side and 5500-5400 in the lower side”.
SHAREKHAN: “The Nifty has broken out of a range with a gap between 5,449 and 5,526, which would act as a crucial support going forward. The Index is now expected to move up till 5,630, which is the previous swing high. In the medium term, the index has taken support at the 40-weekly moving average (WMA) that is 5,215. It has also been forming higher tops and higher bottoms on the weekly and monthly charts which is bullish sign for the market”.
EMKAY GLOBAL FINANCIAL SERVICES: “Nifty will touch the high of Feb. 22, 2012, i.e. 5,630 in the current up-leg itself as we are in a wave (iii) advance of an intermediate degree wave (3) bullish impulse. So our recommendation is to stay bullish”.
GEPL CAPITAL: “The Trend now has turned firmly positive and an upside till 5650 appears likely, now the range of 5450 to 5510 has emerged as a major support zone for Nifty for the immediate term. As long as Nifty manages to trade above this support zone the Trend would remain firm. The level of 5330 is now a major support and a Trend Reversal level for Nifty. The Trend would turn bearish only on a breach of 5330”.
KARVY STOCK BROKING: “Long positions can be assumed in metals, cements, FMCG, capital goods, banking and telecom sectors if markets hold 5500 levels. Short positions can be accumulated in pharma, IT and utilities if Nifty fails to sustain above 5500 levels or below 5450 levels. Overall, we expect Nifty to trade in the broad range of 5450-5700 levels for next week”.
ICICI SECURITIES: “The Nifty may continue to trade with a positive bias towards its previous highs of 5630. A breach of this level may trigger further short covering towards 5680. On downsides, we expect 5400-5450 to act as strong support. The Bank Nifty saw sharp short covering in Friday’s session, breaching the highest Call base of the 10500 strike. Short covering in PSU banking stocks may continue and the Bank Nifty is expected to remain positive till it holds above 10500. In such a scenario, it may test 11000 on the higher side”.
SMC TRADEONLINE (WISE MONEY): “The options open interest concentration has shifted to the 5400-strike and 5300-strike put, with the highest open interest of above 79 lakh shares, while the latter has an open interest of more than 89 lakh shares. Meanwhile, among call options the 5600-strike call has the highest open interest of more than 80 lakh shares indicating immediate resistance level. The overall market added open interest last week with cost-of-carry rising indicating addition of long positions. The Nifty is expected to remain in a range of 5400-5700 levels this week with positive biased”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically a breakout has come in and the market should see some higher levels in the days to come. The crucial support for the Nifty is at 5500 and the resistance is at 5630-5646”.
ANGEL BROKING (Technical): “Going forward, looking at the strong higher top higher bottom structure on the daily as well as weekly chart and the placement of the ADX (14) indicator, we expect markets to move higher towards 18945-19132/5702-5741 levels. The traders who have missed this rally should now ideally wait for a pull back (if any) up to 17973-17800/5449-5380 and then create fresh long positions in the market”.
INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5700-5750 in the upper side and 5500-5400 in the lower side”.
SHAREKHAN: “The Nifty has broken out of a range with a gap between 5,449 and 5,526, which would act as a crucial support going forward. The Index is now expected to move up till 5,630, which is the previous swing high. In the medium term, the index has taken support at the 40-weekly moving average (WMA) that is 5,215. It has also been forming higher tops and higher bottoms on the weekly and monthly charts which is bullish sign for the market”.
EMKAY GLOBAL FINANCIAL SERVICES: “Nifty will touch the high of Feb. 22, 2012, i.e. 5,630 in the current up-leg itself as we are in a wave (iii) advance of an intermediate degree wave (3) bullish impulse. So our recommendation is to stay bullish”.
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