The 30-share index,
Sensex climbed 764.71 points or 4.04% over previous week to 19,683.23. On the other hand, the broad based NSE Nifty surged 226 points, or
3.95%, to 5,945.70.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “With the Nifty rallying further after
closing above the 5850 resistances on Thursday, the bulls seem to be in
control. Traders will now need to watch if the Nifty can convincingly take out
the next intermediate highs of 5971 early next week. Weakness could emerge if
the immediate supports of 5880 are broken”.
CANARA BANK SECURITIES (CanMoney): “Coming week the outlook remains very cautious and much would depend on
the outcome of policy decision by RBI that could lead to any sustainable
recovery”.
BONANZA ONLINE: “After 5 down weeks, Nifty closed in green. Nifty made bullish
engulfing pattern on weekly charts which shows bulls are having control at the
moment. Buying interest may be continuing above 5950 levels else profit booking
may be seen. Traders may take delivery based position in good stocks with
stoploss levels. For trading during the coming session, trend deciding level is
5950. If Nifty shows strength above 5950 levels then we may see rally till
6025/6075/6125/6175. If Nifty doesn’t maintain above 5950 levels then selling
pressure till 5890/5825/5750/5700 may also be seen”.
Duration
|
Action
|
Entry Zone (NF)
|
For Target of
|
Stop Loss
|
For Monday
|
Sell
|
5980-5990
|
5020
|
6015
|
For the Week
|
Sell
|
6000-6040
|
5930-5890
|
6070
|
GEPL CAPITAL: “Nifty staged a massive comeback in the last
week as it recovered from near the support of its 200 Day EMA. It has managed
to give a convincing close above the 5850 mark which was the stop loss for
recommended bearish positions. In doing so it has now entered neutral
territory. In the coming days if it manages to take support near 5800 to 5850
range and rallies back higher beyond the now important resistance of 5970 then
it may scale higher till the previous high of 6111. However failure to take the
resistance level of 5970 and a sharp decline below 5800 would indicate that it
may yet again slip into bearish territory. The price action of next few days
would provide the cues to further moves. Thus important levels to watch
out for in the coming days are 5970 on the upside and 5800 as a support”.
KARVY STOCK BROKING: “Long positions can be
assumed in Banking, Capital Goods, Consumer Durables, Energy, Metals, Realty
and Utilities if the Nifty sustains above 5930 levels. Short positions can be
accumulated in Auto, Cement and IT if the Nifty slips below 5930 levels.
Overall, we expect Nifty to trade in the range of 5850-6100 levels for the next
week”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “We recommend investors to accumulate quality blue
chip stocks with medium to long term perspective, as India continues to remain
an attractive equity investment destination. We recommend investors to focus on
rate-sensitive sectors like banking, auto etc. and on quality stocks in reform
led sectors like oil and gas sector and media. At the same time, investors
should look at an opportune time to accumulate stocks in defensive sectors like
FMCG, IT and Pharma sectors”.
ICICI SECURITIES: “The
Nifty has major support placed at 5820. On the higher side, intermediate
resistance is expected at 6040 above which the Nifty may try to test 6100. The
banking index has immediate resistance at 12500 while support may be witnessed
at 12050. A move below 12050 may stretch the downward momentum towards its
11800”.
ANGEL
BROKING (Technical): “Indices have precisely taken a support at the 'Downward Sloping Trend
Line'. This bullish pattern is now supported by the positive crossover in the daily
'ADX (14)' indicator and the weekly 'Stochastic' oscillator. Also, last week we
had mentioned that the weekly 'RSI' momentum oscillator has moved below the 50
mark. Nevertheless, this week it has managed to jump back convincingly to close
above the 58 level. This indicates possibility of a further upside move if
indices sustain above 19706/5953. In this scenario, the markets may rally
towards 19768-19865/5991-6025 or even re-test the recent swing high of 20204/6112.
On the flipside, the '89-day EMA' and the '20-day EMA' would now provide decent
support to the markets. These are placed at 19250/5830 and 19348/5850 respectively.
A sustainable move below 19195/5795 would once again trigger pessimism in the
market”.
IIFL (Amar Ambani): “Recent weak trend in WPI has been followed by a
dismal Q3 FY13 GDP growth of 4.5% (v/s 5.3% in Q2 FY13). IIP was negative for
second consecutive month; another indication of weakening growth. Increase in
average LAF borrowing from ` 922 billion in Jan '13 to ` 1,098 billion in Feb '13 indicates liquidity tightening in the system.
These factors along with a need to revive investment cycle are likely to persuade RBI to consider
growth over inflation. Thereby, we expect repo-rate cut of 25 bps in the
forthcoming monetary policy review”.
RELIGARE
SECURITIES: “Technically, Nifty has formed bullish
engulfing candlestick pattern on the weekly chart which indicates positive bias
to continue in the near future. Considering the pace of inclination, we might
see more of stock specific move in the coming days while index may witness
muted performance with overall positive bias. Going ahead,
6,020-6,100 will be crucial resistance on the higher side while 5,800-5,870
will provide the need support in case of any decline”.
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