The 30-share index, Sensex declined 255.67
points or 1.30% over previous week to 19,427.56. On the other hand, the broad
based NSE Nifty dipped 73.10 points, or 1.23%, to 5,872.60.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “With the Nifty sliding lower after the bounce back
seen on Monday, it seems markets are not willing to move up in a hurry. Markets
could therefore consolidate in the coming week between the 5790-5950 levels.
The bears could gain an upper hand if the 5790 supports are broken”.
KOTAK SECURITIES (Dipen Shah): “We expect the RBI to cut
interest rates by about 25bps in its March 19 policy meeting. Further, interest rate cuts will depend on the RBI's assessment
of the achievability of the fiscal deficit target and the fiscal reforms which
the Government may undertake, going ahead. Initiatives in the core sectors will
provide a leg-up to the infrastructure investments and assist growth”.
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 showing strength in previous week, Nifty showed
profit booking. Sentiment in coming week may depend upon RBI monetary policy
and Nifty may decide direction accordingly. Selling pressure may be continuing
below 5850 levels else recovery may be seen. For trading during the coming
session, trend deciding level is 5850. If Nifty shows strength above 5850 levels
then we may see rally till 5920/5975/6025/6075. If Nifty doesn’t maintain above
5850 levels then selling pressure till 5790/5725/5650/5600 may also be seen”.
Duration
|
Action
|
Entry Zone (NF)
|
For Target of
|
Stop Loss
|
For Monday
|
Sell
|
5910-5930
|
5865
|
5950
|
For the Week
|
Sell
|
5960-6000
|
5880-5840
|
6030
|
BONANZA PORTFOLIO (Rakesh Goyal): “Nifty is still near 5,875 level, which is
positive in near term. Any positive news in the coming week can lead to further recovery.
RBI’s monetary policy on 19th March is eyed for the coming week, while global
cues shall be tracked too. Nifty has stiff resistance at 5,900-5,950 level and
can face selling pressure on upsides. However, once this level is crossed
decisively, market trend will be positive in near term”.
ICICI SECURITIES: “Due to
substantial options base present at 5700 and 5800 Put strikes, we expect 5800
to act as immediate support. Below these levels, closure of positions may lead
further declines towards previous lows of 5670. On the higher side,
intermediate resistance is expected at 6000 where the highest Call base is
placed since the starting of the series. The banking index has immediate
resistance at 12200 while support may be witnessed at 11500. A move above 12200
may stretch the momentum towards 12500”.
SMC TRADEONLINE (WISE MONEY): “Overall market is waiting for new triggers from coming RBI policy meet
scheduled on 19th March, 2013. Nifty has a strong buying support at 5800
levels, which is very crucial for bulls. On the index options front, lot of
option selling was seen in the 5700-strike put option, which had more than 1
Crore shares in the open interest. Among the call options, the highest open
interest continued at the 6000 strike, with aggregate open interest of 78 lakhs
shares. For coming week, Nifty is expected to remain in the range of 5800-6000
levels”.
GABA &
GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The crucial
support for the Nifty is at 5835-5790 and the resistance to the up-move at 5960”.
ANGEL
BROKING (Technical): “Only a sustainable move beyond this week's high of 19755/5971 would
confirm the above mentioned pattern as well as the breakout from the probable
'Inverse Head and Shoulder' pattern. In such a scenario, we may witness strong
buying interest among market participants. Indices may then resultantly rally
towards 19768-19865/5991-6025 or even re-test the recent swing high of
20204/6112. Conversely, the week's low of 19179/5791 poses as a key support
level in the coming trading sessions. Any sustainable move below this level
would trigger immense pessimism in the market and indices may re-test recent swing
lows of 18931-18760/5712-5663”.
MICROSEC SECURITIES: “For
the coming week, first support of Nifty is at 5840 and the resistance is 5910.
If Nifty breaks 5840, it may further go down 5800 and then 5750. However, if
Nifty is able to sustain above 5910, the level of 5980-6050 would become the
next target”.
R K GLOBAL: “Early next week, domestic indices are likely to trade
in a narrow range on caution ahead of the RBI's mid-quarter policy review on
Tuesday. The central bank is widely expected to lower its benchmark repo rate
by 25 basis points. A rate cut could spark gains after recent volatility in
shares following the 2013/14 budget. We expect that 5800 is likely to hold as
a support for the index even if the central bank withholds a rate cut. Bank
stocks may remain subdued in the wake of the central bank's probe into allegations
of private banks HDFC Bank, ICICI Bank, and Axis Bank indulging in money laundering”.
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