"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 01.10.2012 TO 07.10.2012"

The 30-share index, Sensex gained 9.91 points, or 0.05% to 18,762.74, a 15-month high. On the other hand, the broad based NSE Nifty gained 12.15 points, or 0.21%, to 5,703.30.

VIEWS FROM DIFFERENT BROKING HOUSES:

HDFC SECURITIES: “With the Nifty moving above the previous highs of 5720 intraday, the underlying trend remains up. Our immediate upside targets for the Nifty in the coming week are at the previous intermediate highs of 5740. Weakness could emerge if the recent lows of 5638 are broken”.

KOTAK SECURITIES (Dipen Shah): “We believe that, markets will consolidate and move up in line with further announcements on core reforms, which are now widely anticipated. Any move from China to support its economy will be an added positive, particularly for commodities. However, opinion is mixed on this front”.

BONANZA ONLINE: “After showing strength for 3 consecutive weeks, Nifty made long leg Doji type candle stick pattern on weekly charts, which shows indecision among bulls and bears. Buying interest may be continuing above 5700 levels. If Nifty does not maintain above 5700 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	Buy	5720-5740	5795	5690
For the Week	Buy	5700-5740	5820-5880	5670

BONANZA PORTFOLIO (Rakesh Goel): “5,740 shall hold the key deciding point for further trend. Above 5,740, market can move upto 5,850-5,950 levels in coming sessions. Short positions must be avoided in such an uptrend and Investors may also book partial profits at current levels. On the downside, 5,640-5,580 shall be support levels”.

GEPL CAPITAL: “Nifty tested the level of 5720 and surged past it marginally. It finally ended the day with a gain of 53 points at 5703. We maintain a view of profit taking near present levels as there is a possibility of a corrective decline till 5600 to 5550. The decline may be used as an opportunity to create long positions for an impending target of 5900 over the coming few days”.

KARVY STOCK BROKING: “Long positions can be assumed in IT, Energy, Banking, Utilities, FMCG, Cements and Capital Goods sectors if markets hold 5750 levels. Short positions can be accumulated in Metals and Realty if the Nifty fails to sustain above 5750 levels or below 5700 levels. Overall, we expect Nifty to trade in the range of 5600-5800 levels for next week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “The government is likely to take steps to fast-track infrastructure projects and resolve pricing issues for imported coal based UMPP(s). Urea price hike could be implemented anytime soon. We expect our equity markets to continue to outperform. Pockets of high beta stocks and mid-caps have a lot of room to head northwards”.

ICICI SECURITIES: “The declines in the market can be utilised to go long with supports placed at 5600/5530. On upsides, one should target upsides till 5800. We expect the mid-cap space to witness momentum in the coming sessions. The major support for the index is placed at 11000 where highest Put base is placed. The noticeable Call base is placed at 11500, which would be the immediate hurdle above which one can expect short covering to pan out again towards 11900”.

TRADEONLINE (WISE MONEY): “The range of 5550-5800 will remain crucial in the near term. Breach below the 5550 mark could see the Index declining sharply to 5400 levels. Nifty has sustained above the crucial support of 5650. Short term indicators are indicating upside momentum to continue above 5700. It is likely to hover in the range of 5550-5800 levels for the week”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The trend is still intact up and has not been compromised and the next logical target on the way up is 5768-5810-5869. I would say that the market can be considered up as long as 5640 holds. The crucial support for the Nifty is at 5640 and the resistance is at 5768-5810-5869”.

ANGEL BROKING (Technical): “The Indices have strong support near to 18291/5534 level. Any decline towards these levels will be an opportunity to buy. We reiterate our view that once the indices move beyond 19132/5741, then our markets are likely to rally towards the next possible target of 18542-19812/5850-5945 and even the possibility of testing 6000 (Nifty) cannot be ruled out”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5620 and the resistance is 5750. 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 5800-5850 in the upper side and 5600-5450 in the lower side”.