The 30-share index,
Sensex declined 56.97 points, or 0.30% over previous week to 18,625.34. On the
other hand, the broad based NSE Nifty dipped 19.95 points, or 0.35%, to 5,664.3.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “With the Nifty still stuck in a tight range for two
consecutive weeks, traders will need to watch if the index can now break out of
the 5635-5729 range in the coming week. A break down could see the Nifty
testing the next major supports of 5535”.
KOTAK SECURITIES (Dipen Shah): “We believe markets are
awaiting the RBI decision on October 30 and on the global front, the elections
for the US Presidency. More importantly, there have been no announcements on
further reforms and some important decisions on issues like NIB, land
acquisition and real estate regulator have been pushed forward. These are
points of concern. Markets are pricing some of the reforms and if these do
not come through, there will be disappointment”.
CANARA BANK SECURITIES
(CanMoney):
“Next week, Domestic and global quarterly result
will continue to have major focus and may be decisive in imparting any
direction to our market. On 30th RBI will undertake its policy
review meet, which too make move in some interest rate related sectors. Major
Supports & Resistances for Nifty is 5640/5575/5520 & 5710/5775/5815”.
BONANZA ONLINE: “Nifty has been trading in 5725-5630 zone for 2
consecutive weeks. Until decisive breakout or breakdown occurs volatility may
be continuing. Selling pressure may be continuing below 5630 levels. Buying
interest may be seen above 5725 levels. RBI monetary policy meets on 30th
Oct may decide further sentiments in the market. For trading during the coming
sessions, trend deciding level is 5675. If Nifty shows strength above 5675
levels then we may see rally till 5725/5800/5860/5940. If Nifty doesn’t sustain
above 5675 levels then profit booking till 5630/5580/5530/5450 may also be seen”.
Duration
|
Action
|
Entry Zone (NF)
|
For Target of
|
Stop Loss
|
For Monday
|
Buy
|
5650-5690
|
5750-5790-5820
|
5735
|
For the Week
|
Buy
|
5680-5700
|
5750
|
5665
|
GEPL CAPITAL: “After treading in a narrow band for past couple of weeks Nifty has now drifted lower near a break down level of 5650. It continues to appear weak as long as it trades below the level of 5725 and may further decline till 5535 to 5550 range in coming few sessions. We continue to maintain a short term bearish view and recommend short selling with a stop loss of 5725 for a decline till 5550 to 5535 in next couple of sessions”.
KARVY STOCK BROKING: “Long positions can be assumed in banking, FMCG, capital goods and auto
sectors if markets hold 5650 levels. Short positions can be accumulated in
pharma, metals, consumer durables and utilities if the Nifty fails to sustain
above 5650 levels or below 5600 levels. Overall, we expect the Nifty to trade
in the range of 5600-5750 levels for the next week. However, a significant
ramp-up in volatility can be expected if the Nifty makes an emphatic move out
of this range”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “Next week, the RBI meets for its monetary policy review. With consumer inflation still at ~10%, its unlikely that the RBI would go for a policy rate cut. However, a cut in CRR is likely. On the whole, the monetary policy meet is likely to be a non-event, though private banks could rally a bit on a CRR cut. Stock specific action based on results would continue. 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: “Nifty is expected to find a directional move only if it is able to surpass the prevailing range of 5630-5730 levels. With highest Put base at 5600 strike, we expect these levels to act as strong support. Below which 5300 may be tested. On the higher side, 5800 levels are expected to pose major resistance. The Bank Nifty has also witnessed short straddle for November series at 11500 strikes. However, the immediate resistance can be observed at 11700 levels while 11200 should act as important support”.
SMC TRADEONLINE (WISE MONEY): “In Nifty index options, new expiry started with 5600 and 5900 range as these strikes hold maximum open interest. On the call option front, 5900 strike holds the maximum open interest of 37 lakhs shares, whereas 5600 strike put holds maximum open interest of above 42 lakhs shares. Coming weeks are coming with some important event on global and domestic front, which may bring extra volatility in market. Nifty has decent support near 5600-5650 levels. Any correction below these levels may bring short term trend to halt, till than every correction is a buying opportunity”.
GABA & GABA FINANCIAL ADVISORS PVT. LTD (Prakash Gaba): "The crucial support for the Nifty is at 5630-5582 and the resistance is at 5775".
SHAREKHAN: "The Nifty has closed in the negative on Friday. It is now expected to head lower till 5,540 with resistance around 5,730. The key support in the immediate run will be around 5,630 and resistance will be at 5,730. On the daily chart, the momentum indicator is trading in the negative".
INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5750-5800 in the upper side and 5550-5500 in the lower side”.
ANGEL BROKING (Technical): “We would continue to await the sustainable breakout on either side from the trading range (breakout from the 'Channel' pattern) of 18886 to 18535/5729 to 5633. The '20-day EMA' continues to provide decent support to our market and the 'RSI' oscillator is still above the 50 mark. As long as the 'RSI' oscillator stays above the 50 mark, the probability of the market breaking out of the upper range of the 'Channel' i.e. 18886/5729 cannot be ruled out. In this scenario, we may see a rally towards 18973-19138/5757-5816. A move beyond 19138/5816 would attract immense optimism in the market and as a result, the up move will get extended towards 19542-19812/5850-5945 levels. On the flipside, the weekly 'Stochastic' is still negatively poised. The impact of this technical tool would be seen if indices sustain below 18535/5633. This may trigger near-term pessimism in the market and as a result, the market 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, respectively. Traders are advised to trade with strict stop losses as we expect the volatility to increase post announcement of the RBI monetary policy”.
MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5600 and the resistance is 5750. If Nifty breaks 5600, it may further go down 5530 and then 5450. However, if Nifty is able to sustain above 5750, the level of 5790-5850 would become the next target”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “Next week, the RBI meets for its monetary policy review. With consumer inflation still at ~10%, its unlikely that the RBI would go for a policy rate cut. However, a cut in CRR is likely. On the whole, the monetary policy meet is likely to be a non-event, though private banks could rally a bit on a CRR cut. Stock specific action based on results would continue. 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: “Nifty is expected to find a directional move only if it is able to surpass the prevailing range of 5630-5730 levels. With highest Put base at 5600 strike, we expect these levels to act as strong support. Below which 5300 may be tested. On the higher side, 5800 levels are expected to pose major resistance. The Bank Nifty has also witnessed short straddle for November series at 11500 strikes. However, the immediate resistance can be observed at 11700 levels while 11200 should act as important support”.
SMC TRADEONLINE (WISE MONEY): “In Nifty index options, new expiry started with 5600 and 5900 range as these strikes hold maximum open interest. On the call option front, 5900 strike holds the maximum open interest of 37 lakhs shares, whereas 5600 strike put holds maximum open interest of above 42 lakhs shares. Coming weeks are coming with some important event on global and domestic front, which may bring extra volatility in market. Nifty has decent support near 5600-5650 levels. Any correction below these levels may bring short term trend to halt, till than every correction is a buying opportunity”.
GABA & GABA FINANCIAL ADVISORS PVT. LTD (Prakash Gaba): "The crucial support for the Nifty is at 5630-5582 and the resistance is at 5775".
SHAREKHAN: "The Nifty has closed in the negative on Friday. It is now expected to head lower till 5,540 with resistance around 5,730. The key support in the immediate run will be around 5,630 and resistance will be at 5,730. On the daily chart, the momentum indicator is trading in the negative".
INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5750-5800 in the upper side and 5550-5500 in the lower side”.
ANGEL BROKING (Technical): “We would continue to await the sustainable breakout on either side from the trading range (breakout from the 'Channel' pattern) of 18886 to 18535/5729 to 5633. The '20-day EMA' continues to provide decent support to our market and the 'RSI' oscillator is still above the 50 mark. As long as the 'RSI' oscillator stays above the 50 mark, the probability of the market breaking out of the upper range of the 'Channel' i.e. 18886/5729 cannot be ruled out. In this scenario, we may see a rally towards 18973-19138/5757-5816. A move beyond 19138/5816 would attract immense optimism in the market and as a result, the up move will get extended towards 19542-19812/5850-5945 levels. On the flipside, the weekly 'Stochastic' is still negatively poised. The impact of this technical tool would be seen if indices sustain below 18535/5633. This may trigger near-term pessimism in the market and as a result, the market 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, respectively. Traders are advised to trade with strict stop losses as we expect the volatility to increase post announcement of the RBI monetary policy”.
MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5600 and the resistance is 5750. If Nifty breaks 5600, it may further go down 5530 and then 5450. However, if Nifty is able to sustain above 5750, the level of 5790-5850 would become the next target”.
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