At the close, the
30-share index, Sensex declined 16.62 points or 0.09% over previous
week to 19,468.15. On the other hand, the broad based NSE Nifty dropped 16.10 points, or 0.27%, to 5,887.40.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Although the Nifty has recovered from the lows of
Friday after breaking the 5880 supports intraday, the underlying trend remains
weak. A move below 5880-5854 would confirm further weakness in the coming week
and lead to a testing of our immediate downside targets at 5840”.
CANARA BANK SECURITIES (CanMoney):
“As Nifty has been trading into extreme oversold condition, chances of further
decline remain unlikely. Adding to it, with distress selling in the broader
markets, investors’ sentiment has dampened significantly and with market
trading light ahead of budget, sharp rally towards 6050 is not ruled out. Technically,
Nifty may trade in the range of 5830-6000 in short term”.
BONANZA ONLINE: “Nifty showed selling pressure for 3rd consecutive
week. Selling Pressure may be continuing below 5900 levels. If Nifty maintains
above 5900 levels then recovery may also be seen. For trading during the coming
session, 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 maintain above 5900 levels then profit
booking till 5840/5800/5760/5700 may also be seen”.
Duration
|
Action
|
Entry Zone (NF)
|
For Target of
|
Stop Loss
|
For Monday
|
Buy
|
5880-5900
|
5940
|
5860
|
For the Week
|
Buy
|
5870-5910
|
5980-6020
|
5840
|
BONANZA PORTFOLIO (Rakesh Goyal): “Expectations and speculations ahead of Budget
session, starting from February 21, may lead to some recovery. Investors must
play cautiously as volatility could be high in coming weeks. In coming
sessions, 5,825 levels shall be crucial deciding level in near term, and index is likely to witness further selling
below this level. Below 5,825, likely target levels are 5,770-5,730, while above 5,950, likely target is 5,970-6,000”.
GEPL CAPITAL: “Nifty has been declining since past
three weeks but is now trading near an important support of 5850. There
is a possibility of a halt to the current decline near 5850 levels and a
counter trend bounce may be seen which may take it higher till 5950 and beyond
that 5980 is a possibility. However such a bounce back may not sustain
for long as Nifty has breached a vital trend Line and may again succumb to
selling pressure over the next eight to ten sessions. However in the immediate
term it may register a bounce back as it is now highly oversold on the charts
and is nearing a support range”.
KARVY STOCK BROKING: “Long positions can be assumed in Auto, Private Banks, Pharma, and IT if the
Nifty sustains above 5900 levels. Short positions can be accumulated in PSU
Banks, Capital Goods, Cement, Realty, Metals, and Utilities if the Nifty trades
below 5900 levels. Overall, we expect Nifty to trade in the range of 5800-6000
levels for the next week. However, volatility is likely to remain in absence of
strong triggers”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “With WPI inflation coming lower-than-expected at
6.62% and the budget likely to focus on fiscal consolidation and boosting
investment, the likelihood for further interest rate cuts is getting
stronger. Global liquidity continues to
be strong which should enable continued strong FII flows. The correction in the
market is an opportunity for investors to get into the market. We recommend
investors to buy quality stocks with focus on rate-sensitive sectors like Financials
and Auto, and reforms-led sectors like Oil & Gas and Media”.
ICICI
SECURITIES:
“The Nifty has immediate
resistance placed at 5940 levels. Inability to close above 5940, may induce
profit booking towards 5840/5800. Short covering is expected only above 5940
towards 6000 levels. Despite prevailing weakness in the broader market, the
Bank Nifty did not breach its previous week lows of 12245. A move below these
levels may trigger closure of positions towards 12000. On the higher side,
12500 will remain a crucial resistance for the banking index”.
EASTERN FINANCIAL SERVICE: “Markets next week are
likely to remain range-bound as we approach the fag-end of the third Quarter
earnings and with the Union and the Railway budget set to come the week after, investors
are expected to remain cautious with their exposure to the market. Also, the
participants will keep a close eye on the Budget Session of parliament that
begins on Feb-21”.
GABA &
GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically, the
market seems trapped and is finding it difficult to cross the 6100 mark. So
there is a chance that the market may slip to around 5970-5920 zones. The
crucial support for the Nifty is at 5820 and the resistance is at 5930-5980”.
ANGEL BROKING (Technical): “Negative results from SBI put the spanner in the
works and eventually the market closed the week on a negative note. Indices are
now heading towards strong support of '20-week EMA' which is placed at 19190/5820.
This level also coincides with the weekly swing low of 19149/5823 (low of
weekly candle on December 21, 2012). Hence, it can be considered as a decent support
level. However, the weekly 'RSI-Smoothened' oscillator and the '3 & 8 EMA'
are negatively poised. The impact of these technical evidences would be seen
once indices sustain below 19149/5823. In this scenario, we may witness a
corrective move towards 19000-18870/5800-5735 levels. On the flipside, this
week's high of 19723/5970 continues to act as strong resistance. Only a move
beyond this level may nullify the impact of negative technical evidences. In
this case, indices may then rally towards 19768-19865/5991-6025”.
MICROSEC
SECURITIES: “For the coming week, first support of Nifty is at 5870 and the
resistance is 5950. If Nifty breaks 5870, it may further go down 5840 and then
5800. However, if Nifty is able to sustain above 5950, the level of 6030-6120
would become the next target”.
INDIRATRADE
SECURITIES: “For the next week, Nifty
likely to trade in the range between 5950-6100 in the upper side and 5850-5700
in the lower side”.
SHAREKHAN: “The Nifty has completed a five wave on the
downside and is now expected to bounce for a 61.8% retracement till 6022 level,
with reversal around 5877. The key supports in the immediate run will be around
5853 and resistance will be at 5900”.
No comments:
Post a Comment