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 3rd 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”.
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