The 30-share
benchmark index, Sensex climbed 100.17 points, or 0.53%, to 18,835.77 in
the week ended Mar. 28, 2013. On the other hand, the broad based NSE Nifty rose 31.2 points, or 0.55%, to 5,682.55 in the
same period.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “With the Nifty bouncing back smartly
for the second consecutive session on the back of derivative expiry, the bulls
seem to be making a come back. Further upsides are likely if the Nifty can
cross the immediate resistances of 5719 early next week. Downside supports to
watch for a resumption of weakness are at 5633”.
BONANZA ONLINE: “After showing selling pressure for consecutive 2 weeks,
Nifty made hammer candlestick pattern on weekly charts, which shows that bulls
are trying to enter from lower levels. Buying interest may be continuing above 5720
levels else profit booking may be seen. Traders may take delivery based
positions in good stocks, if Nifty manages to maintain above 5720 levels. For
trading during the coming session, trend deciding level is 5720. If Nifty shows
strength above 5720 levels then we may see rally till 5770/5820/5870/5950. If
Nifty doesn’t maintain above 5720 levels then selling pressure till 5650/5600/5550/5500
may also be seen”.
Duration
|
Action
|
Entry Zone (NF)
|
For Target of
|
Stop Loss
|
For Monday
|
Buy
|
5680-5710
|
5760
|
5655
|
For the Week
|
Buy
|
5670-5720
|
5795-5815
|
5640
|
BONANZA PORTFOLIO (Rakesh Goyal): “In coming week, 5,700 shall be crucial deciding
level in near term, and index is likely to witness further buying above this
level. Above 5,700, likely target is 5,750-5,800, while below 5,650, likely
support is 5,600-5,550”.
GEPL CAPITAL: “After several days, it managed to close above
the previous high of 5655 and reversed the losing streak of more than a
week. It may now retrace some of its losses and come up to 5750 and
beyond that 5800 is a valid possibility. On the downside the range of 5600 to
5550 would continue to serve as an important support for Nifty. In the
immediate term there is a minor resistance placed at 5712 for Nifty. Once it
manages to sustain above 5712 the above mentioned range of 5750 to 5800 is
possible”.
KARVY STOCK BROKING: “Long positions can be
assumed in Consumer Durables, FMCG, IT, Metals and Pharma if the Nifty sustains
above 5700 levels in the coming week. Short positions can be accumulated in
Automobiles, Banking, Capital Goods, Cements and Energy if the Nifty slips
below 5650 levels. Overall, we expect Nifty to trade in the range of 5550-5750
levels for the next week”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “Markets might continue to be volatile until
comfort emerges on domestic political stability and the Cyprus problem to the
satisfaction of investors. Valuations have started becoming reasonable after a
sizeable correction in the private financials and auto space. The telecom space
looks attractive with policy overhang reducing and recent price hikes.
Volatility should be used to buy quality stocks in consumer, pharma and IT on
decline”.
ICICI
SECURITIES:
“Nifty held the stated
support of 5600 and closed the month almost flat. Going ahead in the April
series, major support still lies at 5600. However, the cautious approach should
continue till the Nifty does not close above 5800. Only a close above 5800 may
trigger closure of short positions. The banking index closed below its crucial
resistance of 11500. We expect selling pressure to continue in the index till
it does not sustain above these levels. On downsides, noticeable option base at
11000 Put strikes is expected to extend support”.
SMC TRADEONLINE (WISE MONEY): “Nifty below 5800 came
under bear grip and panic was noticed especially in mid-cap stocks. Hereon
Nifty is likely to find support at 5550 levels. As the structure of market is
getting weaker, the strategy will be shifted to Sell on bounce”.
ANGEL
BROKING (Technical): “The 'Downward Sloping Trend Line' and '200-day SMA' provided decent
support to our benchmark indices. Despite a couple of decent attempts, the
bears were unsuccessful in violating the strong support level of 18525/5600. In
fact, indices managed to bounce sharply during the last hour of the week to
register a weekly close marginally in the positive territory. We are now observing
that the daily 'RSI' and 'Stochastic' oscillators have signalled a positive
crossover. Hence, a move beyond Thursday's high of 18883/5693 may push indices
higher to test next resistance levels of 19094-19210/5766-5820. On the flipside,
we maintain our view that only a sustainable move below 18525/5600 would
justify a bear case scenario and may drag indices lower to test 18255-17800/5548-5441
levels”.
IIFL (Amar Ambani): “Technically, the Nifty
found support at the 38.20% retracement level for entire rally since May 2012
and 200-DMA placed at 5,624. We expect, the Nifty to continue with the upward momentum
in the coming days. A close above 5,720 would further accelerate the bullish stances”.
MICROSEC
SECURITIES: “For the coming week, first support of Nifty is at 5600 and the
resistance is 5720. If Nifty breaks 5600, it may further go down 5540 and then
5450. However, if Nifty is able to sustain above 5720, the level of 5750-5830
would become the next target”.
EASTERN FINANCIERS LTD.: “After a week of
high volatility owing to political drama threatening early polls and continued
global uncertainties, markets are expected to trade on a cautious note with a negative
bias in the first trading week of the new financial year. Next week will see
important economic as well as Sectoral data coming out and would be the chief
determinant of the markets immediate trajectory, apart from the developments in
the global economy as well as the domestic political scenario”.
INDIRATRADE
SECURITIES: “Next week, Nifty likely to trade in the range between 5850-5900
in the upper side and 5550-5400 in the lower side”.
R K GLOBAL: “The last session of fiscal 2013, which coincided with
the expiry of March series, made a surprise U-turn towards the end of the
truncated week. Extremely poor global cues had a cascading effect on the
indices. With the beginning of April series next week we could see a short term
recovery with a negative bias. On the sector front Auto stocks could remain subdued
for a major part of the April series”.
