"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 17.12.2012 TO 23.12.2012"

The 30-share index, Sensex declined 106.85 points, or 0.55% over previous week to 19,317.25 On the other hand, the broad based NSE Nifty too dipped 27.80 points, or 0.47%, to 5,879.60.
VIEWS FROM DIFFERENT BROKING HOUSES:
CANARA BANK SECURITIES (CanMoney): “As Nifty index zoomed to trade above 5850 levels, now any upside targets would hold only if the resistance of 5950 is overcome. Else, the Nifty could then be headed towards a consolidation in the coming week”.
BONANZA ONLINE: “Nifty is consolidating in 5965-5840 zone for 2 weeks. Until decisive breakout or breakdown occurs, volatility may be continuing. Sentiment to large extent may depend upon RBI monetary policy on 18^th December and Nifty may decide its direction accordingly. Traders should be cautious. For trading during the coming sessions, trend deciding level is 5900.  If Nifty shows strength above 5900 levels then we may see rally till 5960/6000/6050/6125. If Nifty doesn’t sustain above 5900 levels then profit booking till 5840/5770/5725/5650 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Sell	5920-5940	5870	5965
For the Week	Sell	5940-5980	5860-5820	6015

GEPL CAPITAL: “Nifty ended the day with a gain of 28 points at 5879. It respected the support of 5838 despite sliding down to as low as 5839 level and bounced back from there on. Any break below 5838 may trigger further decline till 5805 and below that 5756 is a possibility, on the higher side the level of 5935 would act as a resistance for Nifty. Nifty needs to surpass the level of 5935 to register further upside till 6030 and higher”.

KARVY STOCK BROKING: “Long positions can be assumed in Auto, Banking, Consumer Durables and Realty sectors if markets sustain above 5850 levels. Short positions can be accumulated in Capital Goods, Cements, FMCG, IT, Pharma and Utilities if the Nifty breaches 5850 levels. Overall, we expect the Nifty to trade in the range of 5800-6000 levels for the next week”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “RBI’s monetary policy is likely to maintain status quo on the interest rate front. Our markets continue to look good. While there might continue to be some selective profit taking in certain sectors and stocks, investors who don’t have adequate weightage of Indian equities in their portfolio would come in to support the markets”.

ICICI SECURITIES: “We continue to expect 5820/5750 levels as immediate supports for the Nifty in the coming week. Stock specific momentum would continue till the Nifty holds above these levels. However, volatile moves cannot be ruled out due to the upcoming policy meet. On upsides, the Nifty may find immediate hurdle at 5900. A move above 5900 would bring the index to 5975 levels. The Bank Nifty may continue to find resistance at its highest Call base of 12500 levels above which short covering towards 12700 cannot be ruled out. On the lower side, 12000 is expected to remain a major support”.

SMC TRADEONLINE (WISE MONEY): “On the technical front, the Nifty has given a strong breakout above 5800 levels. Going forward, it is expected to trade with positive bias with strong buying interest coming in at every dip. Nifty might face resistance at 5920-5950 levels Any breach below 5800 would induce some profit booking taking Nifty towards the support zone of 5700 mark, which will remain a crucial point of observation for the week”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support for the Nifty is at 5796-5750 and the resistance is at 5900”.

ANGEL BROKING (Technical): “We are of the opinion that if indices sustain below 19186/5836 in the coming week, a downward corrective move towards 19100-18930/5806-5755 is in the offing. These levels are the 38.20% and 50% Fibonacci retracement levels of the rise from  18255/5548 (low on November 20, 2012) to 19612/5965 (high on December 11, 2012), respectively. On the flipside, last week's high of 19612/5965 would act as a strong resistance in the coming trading sessions. Only a move beyond this level would result in an extended rally towards 20050-20218/6000-6070 levels. Considering the overall weekly chart structure we continue to remain positive on the market and any corrective move towards 19000-18900/5800-5750 levels should be used by positional traders as a buying opportunity”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5800 and the resistance is 5950. If Nifty breaks 5800, it may further go down 5730 and then 5630. However, if Nifty is able to sustain above 5950, the level of 6030-6080 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5960-6100 in the upper side and 5800-5700 in the lower side”.