The benchmark 30-share index, BSE Sensex added 252.05 points or 1.53% at 16,698.07 with 22 components registering rise. Meanwhile, the broad based NSE Nifty went up by 69.55 points or 1.41% at 5,015.45 with 36 components posting rise.
FIIs were net sellers with the tune of ` 230.3 crore whereas DII were net sellers of ` 402.88 crore on Thurssday, the 29th September 2011(prov. fig.)
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Today, we expect the Indian Markets to have subdued opening following weak global cues and remain weak for most of the day. Support on Nifty is at 4,906 while resistance is at 5,050. Among the indices, Auto, Banking and Metal stocks look weak”.
KOTAK SECURITIES: “October could see range of 4,600-5,200 with selling pressure expected at higher end of the range. Out-performance is expected in IT, Cement; accumulation advised. Nifty consolidated above 4,900 in the early hours of trade. Put writing at 4,900 led to short closure pushing the index to 4,975-5,000. Tech and Auto provided support to the index while metals dragged. Mid-cap under-performance was seen on account of pending rolls”.
CANARA BANK SECURITIES (CanMoney): “Technically, after making a weak candle in last session, today Nifty exhibited its intrinsic strength and traded witnessed an excellent revival. Nifty maintained not only a positive closing, but also conquered its sentimental level of 5000. As F&O expiry was through, stock specific actions rather any specific manifestation in benchmark indices were very much present. Despite a good show, Bears again outnumbered bulls to regain the full control of the market and because of this, Indices closed with negative market breadth. In today’s session, Nifty ably conquered its vital supports of 4980 and 5000 and ably closed above the vital supports of 9 & 14 day’s SMA placed at 4985 and 4995. 50 & 100 day’s SMA levels were recorded at 5142 & 5324 levels, i.e. above the Nifty closing; these may be the range in forthcoming sessions. Buying was restricted in Large Caps only and small cap & mid cap closed on weak note. In today’s session, VIX, the barometer of uncertainty, closed at a little corrected level of 31.07, but it still indicates a more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 49.21 levels and MACD closed above the signal line, thus combined together they are giving the signals that; market may continue to witness consolidation in forthcoming session”.
BONANZA ONLINE: “Nifty saw an overall strong session and also closed above 5000 resistance level. This may be a positive sign if Nifty could sustain above this level in coming few sessions. Short term trend is positive, however, medium term trend continues to be weak. For daily purpose, trend deciding level is 5015. If Nifty shows strength above 5015 levels, then rally to 5060/5100 may be seen. If Nifty does not show strength above 5015 levels then selling pressure till 4970/4920/4865 may also be seen”.
BONANZA PORTFOLIO (Shanu Goel): “With the expiry of Sept series today, volumes are expected to be lower for couple of trading sessions. Today voting took place in German parliament on EFSF fund debate and the outcome will not only affect the European markets but will have influence on domestic bourses as well. Upside resistance exist at 5100-5150 range”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow. Trade long in Nifty above 5,000 levels else from 4,980 levels with a stoploss placed at 4,965 levels for targets of 5,000 and 5,030 levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Nifty today closed above 5000 level and ended the September expiry with a not so good rollover figure. However for Nifty major resistance would be at 5063 and 5113 while the support would be at 4962 and 4936 levels. Being the first day of expiry, we may see new positions being taken tomorrow which may given some boost for the markets tomorrow”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market unfolded as expected and climbed up to see the high at 5034 right on our resistance, looks like 4900 should hold and on the upside 5095 is a possibility. The support for the Nifty is at 5900 and resistance at 5095-5170”.
ANGEL BROKING (Technical): “Looking at the daily chart, it can be seen that indices have closed marginally above "20 Day MA" and 61.8% Fibonacci retracement level which is considered as a stiff resistance. However, considering the volatility in global indices it is likely that our markets may open with a negative bias. On the upside if indices manage to cross yesterday’s high of 16756/5034 then they are likely to test 16900–17000/5060-5090. On the downside, 16317-16166/4906-4868 levels may act as a support in coming trading sessions”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 16,590/ 4,985 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16,864–17,030/ 5,064–5,113 levels. However, if Nifty trades below 16,590/4,985 levels for the first half-an-hour of trade then it may correct up to 16,424–16,151/4,936–4,857 levels”.
INDIRATRADE SECURITIES: “The markets traded range-bound in the morning session but bounced-back sharply in the afternoon to close with significant gains. Auto and banking were the prime drivers of the upswing and IT also consolidated its gains along with them. For today’s trade, market likely to trade in the range between 5040 & 5095 in the upper side and 4990 & 4940 in the lower side”.
NIRMAL BANG SECURITIES: “We maintain buying on dips keeping a positional stop-loss of 4920 on the Spot nifty. On the higher side nifty will face resistance at 5051 and unless we see strong stability above this level maintain stock specific approach. Immediate target for nifty is seen around 5200 levels”.
SWASTIKA INVESTMART: “On Daily charts, we can observe that the momentum oscillators RSI and Stochastic are moving upwards. For the coming session, we can see 4970/4940/4900 as the supports. On higher levels, 5050 is the immediate resistance for it and any gains above these levels are likely to face stiff resistance at 5090/5130”.
HEM SECURITIES: “Gains in European shares and US index futures helped Indian shares extend gains in late trade as the 50-unit S&P CNX Nifty moved past the psychological 5,000. The barometer index BSE Sensex and the Nifty both hit one-week highs. Stocks were volatile as traders rolled over positions in the futures & options (F&O) segment from the near-month September 2011 series to October 2011 series. The September 2011 derivatives contracts expired today, 29 September 2011. For tomorrow, markets are expected to be sideways”.
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