The benchmark 30-share index, BSE Sensex added 324.69 points or 2% at 16,557.23 with 25 components registering rise. Meanwhile, the broad based NSE Nifty went up by 91.55 points or 1.87% at 4,979.60 with 41 components registering rise.
FIIs were net buyers with the tune of ` 211.71 crore whereas DII were net sellers of ` 37.13 crore on Monday, the 10th October 2011(prov. fig.)
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Today, we expect the Indian Markets to open on higher and stabilize at higher levels in line with other global indices. Among the sectoral indices, IT, Oil & Gas and Realty stocks could outpferform”.
KOTAK SECURITIES (SHRIKANT CHOUHAN): “Nifty has immediate hurdle at 5,050 levels. On the lower side, Index has buying support at 4,848. Bias is positive above 4,925 levels. Sustaining the levels below 4,830 will be negative for the markets, in that case will be exposed to deeper supports of 4,700 and 4,630 levels. Acceleration of uptrend will be witnessed to the levels of 5,200 on the close of 5,050. Corporate earnings will be the focus for the month. This will provide the further direction for the market”.
CANARA BANK SECURITIES (CanMoney): “Technically, after making a big bullish candle in last trading session, today Nifty again closed on green note and made significant gains. Nifty formed a big bullish candle, which needs to be confirmed by next session’s movement to have any indication about bullish three soldiers’ pattern. After a positive opening, Nifty successfully held onto its gain and regained its sentimental level of 4900. Inline to a good show, Bulls managed to prove their supremacy over bears to regain the full control of the market and because of this, Indices closed with positive market breadth. In today’s session, Nifty not only regained its vital support of 4920 but also closed above the vital supports of 9 & 14 day’s SMA placed at 4902 & 4930. Despite a good bounce, Nifty closed below 50 & 100 day’s SMA placed at 5054 and 5285. These levels may be the new ranges in forthcoming sessions. Buying was evident in Large Caps, small cap & mid cap and most of the Sectoral indices too closed on firm note. In today’s session, VIX, the barometer of uncertainty, though corrected yet closed at a very high level of 30.40, indicating a more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 50.47 levels and MACD closed above the signal line, thus combined together they are giving the signals that market may continue to witness some up move in forthcoming session”.
BONANZA ONLINE: “Nifty showed good strength and closed in green above 4850 levels. Majority of large-caps participated in market rally. Nifty is showing momentum strength at the moment. On upside, Nifty may face some resistance in 5050-5100 zone. On downside, Nifty has support in 4900-4850 zone. For daily purpose, Trend deciding level is 5000. If Nifty shows strength above 5000 levels, then rally to 5050/5100/5150 may be seen. If Nifty does not show strength above 5000 levels then selling pressure till 4950/4900/4850 may also be seen”.
BONANZA PORTFOLIO (Shanu Goel): “IIP and WPI monthly Inflation numbers will be announced this week, which will lead to heavy volatility on the bourses. Earning season will also kick off, with Infosys announcing the Q2FY12 results on October 12; this along with global news flows will have a significant impact on market trend. Good support exists at 4,700 level, below which Nifty is likely to test the levels of 4,675 and then 4,600-4,580 levels. On upside level of 5,200 is acting as a strong resistance”.
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 with a stop loss placed at 4,980 levels for targets of 5,030 and 5,050 levels. Alternatively trade short below 4,980 targeting 4,950-4,935 levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Today Nifty closed above the crucial resistance of 4,955 and is having next resistance at 4,999 above it can move towards 5,026-5,050 while the support is there at 4,955 and 4,911 levels. The next major trigger for the market is the Q2 number which will start to flow from Wednesday with Infosys. The quarterly numbers are expected to moderate this time due to rising interest rates and inflation. But this has been already factored in and may not have a major negative impact on the markets. Apart from that we are going to see some important economic data coming our way this week like the IIP number for the month of August on 12th of October and inflation for the month of September due on 14th of October. One another thing is the half year RBI meet scheduled on 25th of October and it is widely expected that RBI may press the pause button as far as the interest rates are concerned and even may see some reduction in the reserve ratio”.
GEPL CAPITAL: “Nifty opened at 4887 and rallied throughout the day, finally closing near 5000 mark. We recommend to book partial profits at this level and the remaining long positions can be held with the SL of 4850. Nifty is likely to consolidate in the 150 points range of 5050 and 4900 for sometime before starting next rally. In this consolidation long positions can be initiated with the SL of 4850 and the targets of 5100 & 5175. Bearish signal will be generated on the chart only if Nifty Futures closes and sustains below 4850 levels”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically the up move seems to be intact and level of 5079 is not ruled out. The support for the Nifty is at 4900 and resistance at 5004-5079”.
MICROSEC SECURITIES: “Nifty made a gap between 5060 and 5110 on 22nd September, 2011. Yesterday the bulls were also able to manage Nifty above 4975. So there is a possibility that Nifty may go up to 5110 to fill the gap. However, a breach 4800 would be treated as the end of current rally and in that case it may further go down and take support in the band of 4700-4650. Traders are advised to hold long positions with a strict stop loss of 4800. On an intra-day basis Nifty has a support at 4940 and is likely to face a stiff resistance near 5020. If Nifty breaks 4940, it may further go down to 4900 and then 4860. However, if it is able to sustain above 5020, the level of 5065–5110 would become the next target”.
INDIRA SECURITIES: “It was a robust performance in the markets on Monday and along with large-cap counters, madcap and small-cap stocks also participated in the rally. All sectoral indices closed positive with realty, IT and oil & gas being the lead gainers. Consumer durables, metal, auto and banking also made substantial gains in session. For today’s trade, market likely to trade in the range between 4990 & 5035 in the upper side and 4950 & 4910 in the lower side”.
INDIRA SECURITIES: “It was a robust performance in the markets on Monday and along with large-cap counters, madcap and small-cap stocks also participated in the rally. All sectoral indices closed positive with realty, IT and oil & gas being the lead gainers. Consumer durables, metal, auto and banking also made substantial gains in session. For today’s trade, market likely to trade in the range between 4990 & 5035 in the upper side and 4950 & 4910 in the lower side”.
INVENTURE GROWTH & SECURITIES: “Since the markets are range bound (between 4,720-5,180) buying and selling activity (in index) can be initiated at the edges. The traders should follow test-match style game, wherein 1s and 2s help to build a good score. In essence we recommend to book profits regularly”.
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