Wish you all the blog visitors, well wishers and my friends a very very
The 30-share index,
Sensex added 202.84 points, or 1.05% over previous week to 19,444.84. On the
other hand, the broad based NSE Nifty too gained 60.65 points, or 1.04%, to 5,908.35.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Markets are still stuck in a range between the
19149-19612/5823-5965 levels. Friday’s bounce back does give some hope for the
bulls. A breakout on the upside would lead to a continuation of the current intermediate
uptrend. This would then bring into focus the previous intermediate highs of
20218-20665/6070-6181. Our bets for a continuation of the uptrend would go
wrong if the Sensex/Nifty dive lower and close below the short-term reversal
levels of 19149/5823”.
CANARA BANK SECURITIES (CanMoney):
“Domestic and global cues are expected to continue to decide the direction for
our equity market. Strategy for the month would be Long strangle i.e. to buy
5800 put and 6000 call at total premium of ` 105. Nifty range for the next week might be in the
range of 5820-6050”.
BONANZA ONLINE: “Nifty is consolidating in 5965-5825 zone for 4 weeks.
Until decisive breakout or breakdown occurs, volatility may be continuing.
Sentiment to large extent may depend upon Global indices particularly US fiscal
cliff problem. Decisive break down below 5825 may lead to selling pressure and
lower levels may be seen. On the other hand, if Nifty breakout above 5965
levels then buying strength may be seen. Traders should not take fresh delivery
call below 5825 levels. For trading during the coming sessions, trend deciding
level is 5900. If Nifty shows strength
above 5900 levels then we may see rally till 5965/6000/6050/6125. If Nifty
doesn’t sustain above 5900 levels then profit booking till 5840/5750/5700/5700
may also be seen”.
Duration
|
Action
|
Entry Zone (NF)
|
For Target of
|
Stop Loss
|
For Monday
|
Sell
|
5970-5990
|
5930
|
6010
|
For the Week
|
Sell
|
5980-6030
|
5900-5850
|
6060
|
BONANZA PORTFOLIO (Rakesh Goel): “After 5 weeks, Nifty is still holding above
5,850 level, which is a positive indicator. Any positive news can lead to
upward breakout of the range. It is to be seen if Nifty sustains above 5,925
level, as this will be deciding level for coming days. In the coming sessions,
Nifty is likely to witness further buying above 5,925 level and may see
consolidation within 5,850-5,950 in the coming sessions. Support may be seen
from 5,850-5,825 levels and resistance near 5,925-5,950”.
GEPL
CAPITAL: “While the level of 5960 continues to serve as a
resistance for Nifty, 5840 is an important support. An either side break out
would provide short term directional cues. A break out above 5960 would imply
further advance till 6030 to 6100 range whereas a breakdown below 5850 would
indicate further decline till 4780. We advise initiating of trading positions
only on a confirmation of a break out of either side”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “The confluence of current strong reforms momentum
generated by the government, likely interest rate cuts and lack of high
yielding asset avenues for global investment flows are likely to help our
markets to continue to attract strong FII flows. We recommend investors to
accumulate quality plays in private sector financials, media, discretionary
consumption like autos and consumer durable, Industrial & Infrastructure and pharma”.
ICICI
SECURITIES:
“The Nifty has key
resistance placed at 5975, above which it is likely to test 6100. On downsides,
5750-5820 remains a crucial support zone. The banking index has seen creation
of short straddle at the 12500 strike at a cumulative premium of 550, which is
forming the range of 11950-13050 for the index. Within this range, 12520 spot
is likely to act as a pivot level, a move beyond which could trigger fresh
upsides in private sector heavyweights”.
SMC
TRADEONLINE (WISE MONEY): “Overall market cost-of-carry increased on the back of addition in open
interest suggesting addition of long positions. The month of January began with
good rollover with positive cost of carry indicating long carry forward. Hereafter,
the range of 5800-6000 will remain crucial in the near term. Breach below the
5800 mark could see the Index declining sharply to 5650 levels. It is likely to
hover in the range of 5800-6000 levels for the week”.
GABA &
GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial support
for the Nifty is at 5864 and trade long and the resistance is at 5980-6000”.
ANGEL
BROKING (Technical): “We continue to mention
the narrow trading range of 19613/5965-19149/5823. Only a sustainable breakout
on either side would give a clear direction for the near term. A move beyond 19613/5965 level would result
in an extended rally towards 20050-20218/6000-6070 levels. Conversely, a
closing below the lower range of 19149/5823 may trigger short term pessimism in
the market. In such a scenario, we may witness a correction towards
19100-18930/5806-5755. 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. However any adverse developments in
the US, with regards to the 'Fiscal Cliff' may result in enhanced volatility in
the market. 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”.
IIFL (Amar Ambani): “Investors eagerly
await the outcome of fiscal cliff negotiations before spending cuts and
tax raise get initiated on January 1. With few days left in December,
attention will soon shift to next year. Corporate earnings will be tracked
closely. Being the beginning of a new month, markets will have lot of data
points to digest, including manufacturing and services PMI and auto sales. So,
brace for more volatility and uncertainty, and avoid any misadventures”. (source:
myiris)
MICROSEC SECURITIES: “For
the coming week, first support of Nifty is at 5800 and the resistance is 5975.
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 6000-6100 in the upper side and 5800-5700
in the lower side”.
SHAREKHAN: “The Nifty has taken support around the previous swing low, i.e., 5,840, and bounced which indicates strength in
the short term. The short-term bias has changed to positive for a target of
5,965. The medium-term outlook remains positive, as the index has started
forming higher tops and higher bottoms on the weekly chart and also made a bullish
island with support around 5,649”.
No comments:
Post a Comment