The benchmark 30-share index, BSE Sensex gained 353.93 points or 2.11% at 17,099.28 with 28 components posting rise. Meanwhile, the broad based NSE Nifty went up by 108.25 points or 2.15% at 5,140.20 with 48 components registering rise.
FIIs were net buyers with the tune of ` 318.84 crore whereas DII were net buyers of ` 317.69 crore on Tuesday, the 20th September 2011(prov. fig.)
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Today, we expect the Indian Markets to open on a flat to negative note. It could go into a correction mode after yesterday’s rise. Among the sectors, FMCG and Consumer Durable stocks could outperform”.
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty exhibited a very strong and motivating show amidst surging volumes and resurrected its positive momentum of last week. Amidst a straight forward journey, Nifty not only regained most of its lost point but also closed near day’s high. This may motivate latent buying and buying sentiments further in coming sessions. In today’s session, Nifty regained the vital support of 9 day’s SMA placed at 5050, besides closing the session above the vital resistance of 14 days’ SMA placed at 5049. Vital 50 & 100 day’s SMA levels were also placed at 5231 & 5368 levels, i.e. above the Nifty closing; these may be the resistances in forthcoming sessions. Seasoned buying in large cap, small cap & mid cap boosted Bulls to regain control from Bears, because of which, Indices closed with positive market breadth. In today’s session, VIX, the barometer of uncertainty, closed at a higher level of 27.72, indicating more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 53.75 levels and MACD closed above the signal line, thus combined together they are giving the signals that market may continue to witness with some positive spikes”.
BONANZA ONLINE: “Nifty showed excellent strength and closed in green above 5100 levels with decent volumes. Bulls are having control at the moment. Buying momentum may be continuing above 5150 levels. On the other hand, if Nifty does not sustain above 5200 levels then some profit booking may also be seen from here. For daily purpose, Trend deciding level is 5150. If Nifty shows strength above 5150 levels, then rally to 5225/5300/5350 may be seen. If Nifty does not show strength above 5150 levels then selling pressure till 5100/5070/5025 may also be seen”.
BONANZA PORTFOLIO (Shanu Goel): “The outcome of Fed meeting and its implication will decide the short term trend of the Nifty. Nifty is likely to consolidate within 4,900-5,200 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 above 5,150 levels, else from 5,130 levels for targets 5,200-5,230 levels with a stoploss placed at 5,100 levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Nifty today made good gains today and closed for the day above the resistance level of 5113 and it looking at resistance of 5168 and 5225 while the support is there at 5100 and 5082 levels”.
GEPL CAPITAL: “Finally Nifty Futures managed to move near 5175 which is the current high. Now the important level to watch is 5230 which is showing multiple resistances and also it is a lower end of the price gap visible on daily charts. We are recommending to book partial profit in Long trading positions above 5200 mark and the balance long positions can be held with the trailing SL of 5000.Till Nifty trades above 4900 the current bounce back is likely to continue upwards and positional target remains at 5320 which is the next resistance level after 5230”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market turned around unexpectedly and closed in the green on its high. It looks like now the original technical target of 5265 holds. Strong support exists at 5000. The support for the Nifty is at 4984 and resistance at 5265”.
ANGEL BROKING (Technical): “In yesterday’s trading session, we witnessed a quite opening in-line with global cues but a strong buying emerged as day progressed which led indices to close at the day’s high. Markets are now nearing their recent swing high of 17212/5169 after a sharp rally in yesterday’s session. This level coincides with a “Horizontal Trend Line” resistance mentioned above. Looking at the global clues it is likely that our benchmark Indices may open lower. If a sustainable move beyond this resistance level (17212/5169) takes place, it may lead to a break out from this resistance. In this case, indices may rally towards 17400–17600/5240–5300 levels. On the downside, 16880–16700/5070–5019 levels may act as support in coming trading sessions”.
IIFL (Amar Ambani): “Greece should be able to get a green light from its international creditors today, helping it avert a default in the short term. But that may not necessarily is the end of its woes or for that matter for the euro-zone. Meanwhile, the two-day FOMC meet and the political debate in the US over president Obama’s deficit-cutting measure will also have some bearing on the sentiment in the coming days. For India the next big catalyst could come from positive policy action or some softening in inflation. Corporate earnings next month will also be key to near-term direction”.
MICROSEC SECURITIES: “After making a low of 4911.05 on 13th September, Nifty has given a pull back rally of 4.85% in last five trading sessions. Yesterday the bulls were able to manage Nifty above 5140. Now the short term crucial resistance of Nifty lies at 5230. If Nifty is able to maintain above 5230, an upward rally might carry it to 5320 and then 5400 in the extreme short term. However, a breach of 5015 would indicate the end of current rally and in that case Nifty may further go down to 4910. Traders are advised to hold long positions with stop loss of 5015. On an intra-day basis Nifty has a support at 5110 and is likely to face a stiff resistance near 5170. If Nifty breaks 5110, it may further go down to 5065 and then 5015. However, if it is able to sustain above 5170, the level of 5205–5230 would become the next target”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 16,998/5,108 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17,237–17,375/5,182–5,223 levels. However, if Nifty trades below 16,998/5,108 levels for the first half-an-hour of trade then it may correct up to 16,860–16,621/5,067–4,994 levels”.
INDIRA SECURITIES: “The Indian markets closed on tuesday amidst significant gain with both benchmark indices gaining about 2%. Information Technology index was the biggest gainer of the day. The CNX Midcap index was up by 0.90% and the BSE Smallcap index gain 1.23%. The market breadth was positive with advances at 953 against declines of 438 on the NSE. For today’s trade market likely to trade in the range between 5170 & 5240 in upper side and 5110 & 5050 in lower side”.
INDIRA SECURITIES: “The Indian markets closed on tuesday amidst significant gain with both benchmark indices gaining about 2%. Information Technology index was the biggest gainer of the day. The CNX Midcap index was up by 0.90% and the BSE Smallcap index gain 1.23%. The market breadth was positive with advances at 953 against declines of 438 on the NSE. For today’s trade market likely to trade in the range between 5170 & 5240 in upper side and 5110 & 5050 in lower side”.
HEM SECURITIES: “Key benchmark indices spurted to 1-1/2 week highs as European stocks rose and as US index futures jumped, buoyed by expectations that Greece will receive the next aid tranche from international creditors as well as hopes that the Federal Reserve may announce fresh measures to stimulate the economy. For tomorrow, markets are expected to be upward”.
INVENTURE GROWTH & SECURITIES: “The next resistance levels for Nifty (spot) are at 5,180 and 5,320 where it fills an open gap. And on the downside, 4,990-4,910 remains supports. On the weekly charts, Nifty has just crossed last week’s high so some more upside cannot be ruled out”.
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