The 30-share index,
Sensex gained 7.13 points, or 0.04% over previous week to 18,682.31. On the
other hand, the broad based NSE Nifty moved up 8.20 points, or 0.14%, to
5,684.25
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “After moving up sharply on Thursday and
giving hopes to the bulls of a break out, the Nifty once again failed to
breakout and ended lower. The 5635-5729 levels therefore continue to remain
crucial levels to watch for a break out or break down in the coming week”.
BONANZA ONLINE: “Traders should be cautious in volatile environment.
Selling pressure may be continuing below 5650 levels. On upside Nifty has
resistance at 5800 level. For trading during the coming sessions, trend
deciding level is 5650. If Nifty shows strength above 5650 levels then we may
see rally till 5720/5800/5860/5940. If Nifty doesn’t sustain above 5650 levels
then profit booking till 5580/5530/5450 may also be seen”.
Duration
|
Action
|
Entry Zone (NF)
|
For Target of
|
Stop Loss
|
For Monday
|
Sell
|
5690-5710
|
5630
|
5735
|
For the Week
|
Sell
|
5750-5800
|
5675-5640
|
5830
|
ADITYA BIRLA MONEY (MONEY WEEKLY): “Next week, our markets are likely to follow
global cues. Markets are likely to keenly assess the outcome of the EU summit
in terms of the status on (1) Spain seeking a bailout, (2) disbursement of
delayed aid to Greece and relaxation on budget austerity conditionality and (3)
a banking union. There would be stock specific action based on results. We
continue to be positive on the markets as the confluence of high global liquidity
and continued movement on government policy reforms would bring in continued
strong FII inflows”.
ICICI
SECURITIES:
“Due to ongoing earnings
season and upcoming settlement week, Nifty may witness volatile moves. The
highest Put base of 5600 strike should be crucial support on downsides. At the
same time, a move above 5730 should prompt short covering towards the
settlement. The Bank Nifty is hovering
at its straddle formed at the 11500 strike. From a trading prospective, 11200
level is expected to act as strong support in the near term while 11700 would
be critical resistance on the higher side”.
GEPL CAPITAL: “Nifty is showing sideways movement for past 8th consecutive days and the breakout above 5730 is expected to trigger sharp up-move. At the same time, Nifty needs to maintain the crucial support level of 5630 as below this level, sharp sell may be seen. On weekly chart, a 'Doji' like structure is visible indicates indecisiveness in the market. A sustainable breach and closing above 5730 is likely to trigger fresh rally which is expected to cross earlier high of 5815. On the downside, breakdown below 5630 may result in losing near about 100 points and testing of 5520 which is 50% retracement support”.
KARVY STOCK BROKING: “Long positions can be assumed in Banking, FMCG, Capital Goods, Ulitilities, Consumer Durables, Cement, Realty and Auto sectors if markets hold 5650 levels. Short positions can be accumulated in Pharma and Metals if the Nifty fails to sustain above 5650 levels or below 5600 levels. Overall, we expect Nifty to trade in the range of 5600-5800 levels for next week”.
SMC TRADEONLINE (WISE MONEY): “Technically, the Index continues to trade above all its moving averages, of 200-day and 100-day EMAs, indicating a bullish scenario. On the contrary, sustaining 5600 levels is extremely crucial for a continued uptrend. The highest concentration of call option is at 5800-strike call option, which has more than 1 crore shares. Among put options, the highest open interest is at the 5600 strike, with an open interest of above 85 lakh shares. The options build-up in the 5800 strike indicates a stiff resistance for current expiry. October expiry is expected to close in the band of 5600 to 5800 levels”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): "The crucial support for the Nifty is at 5630-5582 and the resistance is at 5700-5775".
ANGEL BROKING (Technical): “Going foward, the impact of negatively poised weekly 'Stochastic' oscillator would be seen if indices sustain below 18535/5633. This may trigger near term pessimism in the market and as a result, Indices may slide towards 18416/5586 and 18194/5515, which are 38.2% and 50% Fibonacci Retracement levels of the rise from 17250 to 19138/5216 to 5815. On the flip side, the daily 'RSI' oscillator is consistently moving above the 50 mark. This signifies strength in the current intermediate degree trend, which is bullish. A fresh set of buyers would enter the market only if our indices sustain above 18886/5729. In this scenario, we can expect our indices to move towards 18973-19138/5757-5816. A move beyond 19138/5816 would negate the negative implication of the "Bearish Engulfing" candlestick pattern and further optimistic targets open up”.
IIFL (Amar Ambani): “Investors will pay attention to any news that may emanate out of the two-day summit of European leaders in Brussels. Domestically, a lot would depend on RBI policy meeting which is scheduled to be held in the coming weeks. The ongoing results season would also continue to influence the mood on the street”.
MICROSEC SECURITIES: “We maintain the trading range of 5600-5850 for the market and recommend BUYING around the lower levels of NIFTY. Results would give only stock specific volatility”.
INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5800-5850 in the upper side and 5550-5500 in the lower side”.
EMKAY GLOBAL FINANCIAL SERVICES: “We still anticipate an upside breakout in Nifty and expect the index to clear the barrier of 5,750 in the coming sessions. This is the reason why we stated that bulls are gearing up since last nine trading sessions for the takeover fight. On the other hand, if the support of 5,630 doesn't work well for the index and bears win the takeover fight then the prices is expected to sink lower to the support of internal trendline (blue i.e. 5,575 odd) drawn connecting the highs of 5,348 and 5,448”.
GEPL CAPITAL: “Nifty is showing sideways movement for past 8th consecutive days and the breakout above 5730 is expected to trigger sharp up-move. At the same time, Nifty needs to maintain the crucial support level of 5630 as below this level, sharp sell may be seen. On weekly chart, a 'Doji' like structure is visible indicates indecisiveness in the market. A sustainable breach and closing above 5730 is likely to trigger fresh rally which is expected to cross earlier high of 5815. On the downside, breakdown below 5630 may result in losing near about 100 points and testing of 5520 which is 50% retracement support”.
KARVY STOCK BROKING: “Long positions can be assumed in Banking, FMCG, Capital Goods, Ulitilities, Consumer Durables, Cement, Realty and Auto sectors if markets hold 5650 levels. Short positions can be accumulated in Pharma and Metals if the Nifty fails to sustain above 5650 levels or below 5600 levels. Overall, we expect Nifty to trade in the range of 5600-5800 levels for next week”.
SMC TRADEONLINE (WISE MONEY): “Technically, the Index continues to trade above all its moving averages, of 200-day and 100-day EMAs, indicating a bullish scenario. On the contrary, sustaining 5600 levels is extremely crucial for a continued uptrend. The highest concentration of call option is at 5800-strike call option, which has more than 1 crore shares. Among put options, the highest open interest is at the 5600 strike, with an open interest of above 85 lakh shares. The options build-up in the 5800 strike indicates a stiff resistance for current expiry. October expiry is expected to close in the band of 5600 to 5800 levels”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): "The crucial support for the Nifty is at 5630-5582 and the resistance is at 5700-5775".
ANGEL BROKING (Technical): “Going foward, the impact of negatively poised weekly 'Stochastic' oscillator would be seen if indices sustain below 18535/5633. This may trigger near term pessimism in the market and as a result, Indices may slide towards 18416/5586 and 18194/5515, which are 38.2% and 50% Fibonacci Retracement levels of the rise from 17250 to 19138/5216 to 5815. On the flip side, the daily 'RSI' oscillator is consistently moving above the 50 mark. This signifies strength in the current intermediate degree trend, which is bullish. A fresh set of buyers would enter the market only if our indices sustain above 18886/5729. In this scenario, we can expect our indices to move towards 18973-19138/5757-5816. A move beyond 19138/5816 would negate the negative implication of the "Bearish Engulfing" candlestick pattern and further optimistic targets open up”.
IIFL (Amar Ambani): “Investors will pay attention to any news that may emanate out of the two-day summit of European leaders in Brussels. Domestically, a lot would depend on RBI policy meeting which is scheduled to be held in the coming weeks. The ongoing results season would also continue to influence the mood on the street”.
MICROSEC SECURITIES: “We maintain the trading range of 5600-5850 for the market and recommend BUYING around the lower levels of NIFTY. Results would give only stock specific volatility”.
INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5800-5850 in the upper side and 5550-5500 in the lower side”.
EMKAY GLOBAL FINANCIAL SERVICES: “We still anticipate an upside breakout in Nifty and expect the index to clear the barrier of 5,750 in the coming sessions. This is the reason why we stated that bulls are gearing up since last nine trading sessions for the takeover fight. On the other hand, if the support of 5,630 doesn't work well for the index and bears win the takeover fight then the prices is expected to sink lower to the support of internal trendline (blue i.e. 5,575 odd) drawn connecting the highs of 5,348 and 5,448”.
No comments:
Post a Comment