BSE Sensex gained 65.92 points or 0.37% at 17,749.65 and NSE Nifty went up by 16.60 points or 0.31% at 5,358.70 in a special trading session on last Saturday.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “With the Nifty having rallied smartly during the
week, the underlying trend has turned bullish and bulls seem to have an upper
hand at least for the short term. Nifty seems to have taken a strong support
near 5220. With supportive global cues, we expect the upside momentum to
continue in the next week as well. Immediate upside resistance for the Nifty is
at 5400”.
CANARA BANK SECURITIES
(CanMoney): “Next week, few vital data
including Jobless claim, Industrial production, crude inventory status, retail
sales and consumer price index will be announced in US. These may have vital
impact on global indices including ours. Major
Support & Resistance for Nifty are 5205/5180/5140 and 5280/5315/5380”.
BONANZA ONLINE: “After showing selling
pressure previous week, Nifty showed good recovery. Buying interest may be continuing
above 5350 levels. On upside, Nifty may find some resistance in 5450-5500
zones. On downside, Nifty may find some support at 5200 levels. Traders may take delivery based position in good stocks with stoploss
levels. For trading during the coming sessions, trend deciding level is 5350. If Nifty shows strength above 5350 levels then
we may see rally till 5400/5450/5490/5550. If Nifty doesn’t sustain above 5350
levels then selling pressure till 5290/5250/5200/5150 may also be seen”.
Duration
|
Action
|
Entry
Zone (NF)
|
For
Target of
|
Stop
Loss
|
For Monday
|
Buy
|
5380-5400
|
5450
|
5350
|
For the Week
|
Buy
|
5350-5400
|
5475-5525
|
5325
|
VENTURA SECURITIES LIMITED: “On
Monday (5340-5331)-(5328-5322) would be buy levels. Strong Market won’t break 5331. Above 5340 Nifty could test 5347 (Friday’s high),
further it could open for 5360-5400-5448-5510. Nifty
has support at 5309 (Friday’s low). Below it could open for 5296-5281-5260-5244”.
GEPL CAPITAL: “In the immediate term the level of 5260 has now
turned as a support. Any decline below that would confirm further sell off till
at least 5000. However till the time it trades above 5260 it may test the
resistance of 5360 and beyond that retest the high of 5450. Any advance beyond
that may take it to the level of 5500 and beyond that 5592 is a possibility”.
KARVY STOCK BROKING: “We
expect Nifty to trade in the broad range of 5300-5500 levels for the next week.
However, a breach of 5300 levels leads to a sharp fall towards 5200 negating
the upside potential”.
ICICI SECURITIES: “The Nifty may trade with a positive bias till it
holds above 5340. Sustainability above these levels may trigger short covering
towards 5460. On downsides, we expect 5220 to act as a major support. The Bank
Nifty has given another weekly close above its highest Put base at the 10000
strike. Sustainability above these levels may trigger positive momentum towards
10500. On downsides, 9800 should continue to act as a major support”
SMC TRADEONLINE (WISE
MONEY): “The range of 5200-5400 will
remain crucial in the near term, and the move is expected to remain sideways as
indicated by low VIX and low Implied Volatility. If Nifty slips below the 5200
mark, it could slide to 5000 levels due to increased in selling pressure. On
the flipside, the index may face stiff resistance at 5450-5500 levels. Nifty is
expected to remain in a broad range of 5250-5400 levels with an intermediary
support at around 5280 levels”.
ANGEL BROKING (Technical): “The last week's low of 17250/5217 almost coincides with the 50% Fibonacci
Retracement level of the rise from 16598 to 17973/5032 to 5449. Hence, this
level would act as a key support for our markets. The 'RSI' momentum oscillator
and '3 & 8 EMA' on daily chart are signalling a positive crossover. This
indicates a high probability of continuation of Friday's strong positive
momentum in coming week. Considering the broad based rally in the frontline
stocks, we are of the opinion that traders can create fresh long positions on
every decline up to 5275 (Nifty Spot) for a target of 5449-5550 (Nifty Spot). The
stop loss for this trade set up can be placed below 5190 (Nifty Spot) mark. A
breach of 5190 level would trigger complete loss of current optimism in the
market”.
MICROSEC SECURITIES: “For
the coming week, first support of Nifty is at 5300 and the resistance is 5400.
If Nifty breaks 5300, it may further go down to 5250 and then 5210. However, if
Nifty is able to sustain above 5400, the level of 5450-5510 would become the
next target”.
INDIRATRADE SECURITIES: “For
the next week, Nifty likely to trade in
the range between 5450-5500 in the upper side and 5250-5200 in the lower side”.
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