At the close, the benchmark 30-share index, BSE Sensex added 232.05 points or 1.47% at 15,970.75 with 26 components posting rise. Meanwhile, the broad based NSE Nifty went up by 65 points or 1.38% at 4,779.00 with 38 components posting rise.
VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Today, the Indian market is likely to open in the red following weak Asian cues and later take cues from the European markets”.
KOTAK SECURITIES (SHRIKANT CHOUHAN): “Nifty has strong support at 4,730 levels. Current Trend of the market in the short term is positive. Sustaining above the levels of 4,740 will be positive for the markets, in that case will be exposed to higher levels of 4,840 and 4,910. Up move in the market will face stiff resistance at 4,840 levels. On the lower side breach of 4,740 will be viewed negatively for lower level targets of 4,680 and 4,630”. (source: myiris)
CANARA BANK SECURITIES (CanMoney): “Technically, after exhibiting significant losses in last session, Nifty witnessed a good & gainful session and closed with exalted gains. Level wise, closing above the threshold 4770 levels may depict returning strength of the bulls in the forthcoming sessions. Broader market witnessed firm sentiments, segments, like large-caps, small-cap, mid-cap were under bulls support. Owing to this, bulls outnumbered the bears with significant margin. Due to buying Nifty recover significantly and closed above 9 & 14 day’s SMA placed at 4693 & 4762 but, continued to close below its vital 50 & 100 day’s SMA placed at 4974 & 5008. Though, VIX, the barometer of uncertainty, corrected sharply and closed at 26+, yet it indicates a more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 47.29 levels and MACD closed above the signal line. Market may continue to witness limited upward movements in forthcoming session amidst higher volatility”.
FAIRWEALTH SECURITIES: “Nifty is expected trade in a range 4720-4848. Below the given range 4693 would be a strong support for the session while 4888 may act as major resistance level. In Bank Nifty 8550-80 would be major resistance level”.
BONANZA ONLINE: “Nifty showed good strength and closed in green above 4,750 levels. Nifty has some resistance in 4,800-4,840 zone and profit booking may be seen from these levels. On downside, Nifty has some support in 4,750-4,730 zone. For daily purpose, trend deciding level is at 4,780. If Nifty shows strength above 4,780 levels, then rally to 4,840/4,900/4,950 may be seen. If Nifty does not show strength above 4,780 levels then selling pressure till 4,750-4,730/4,670/4,620 may also be seen”.
BONANZA PORTFOLIO (Shanu Goel): “Nifty today breached the strong resistance level of 4,750 on closing basis indicating the year-end rally playing its role in the market. Going ahead High volatility is expected on the bourses this week as traders roll over positions in futures & options (F&O) segment from the near-month December 2011 series to January 2012 series. Now the next resistance on Upside is placed at 4,820-4,840 level”.
KARVY STOCK: “The market is expected to take cues from the global markets and open on a flat to marginally positive note. Trade short in Nifty below 4,800 levels with a stop loss at 4,820 for targets of 4,750”.
GEPL CAPITAL: “Nifty Futures is approaching the crucial zone of 4800-4850 where multiple resistances are seen on daily and weekly charts. The earlier signal of weakening trend will be seen below 4640 which is an intermediate support. We advised to book profits in trading long positions in above mentioned zone of 4800-4850 with a ‘wait n watch’ approach towards the market. Only in case of strong closing above 4850, can pull the market towards 4950 which is next resistance. Downward breach of 4640 level may show a panic selling in the market and Nifty Futures may move to the current low of 4538. The intermediate trend of Nifty Futures will remain in downward direction till the weekly close is below 5275 mark. The intraday resistance levels for Nifty Futures are placed at 4820 & 4860 and support levels are placed at 4720 & 4640 respectively”.
SMC TRADEONLINE (WISE MONEY): “Today the markets are likely to open on a flat note on back of positive global cues. All emerging markets are trading flat. The coming session is likely to witness a range of 4630 on declines and 4900 on advances”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market still looks up with the next logical target being at 4815-4862. The support for the Nifty is at 4720 and resistance at 4815-4862”.
ANGEL BROKING (Technical): “After a flat opening in yesterday’s session, indices continued to move higher and tested the 20 Day EMA during the second half. Going forward, 16020–16070/4800–4820 levels are likely to act as a strong resistance zone. Further, we are observing a positive crossover in ‘RSI–Smoothened’ oscillator, which indicates possibility of increase in positive momentum, if indices manage to sustain above upper range of the resistance zone i.e. 16070/4820. In this case, indices are likely to move towards 16286–16421/4881–4920 levels. On the downside, the immediate support levels are at 15887–15671/4757–4693”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 15,910/4,761 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16,059–16,147/4,805–4,831 levels. However, if Nifty trades below 15,910/4,761 levels for the first half-an-hour of trade then it may correct up to 15,822–15,673/4,736–4,692 levels”.
INDIRATRADE SECURITIES: “Monday the markets started the trade on a quite note but gained significantly as the day progressed and closed with robust gains. IT, realty, metal and capital goods were the biggest gainers in session and banking and auto, too, provided support to the indices. For today’s trade market likely to trade in the range between 4810 & 4840 in the upper side and 4750 & 4730 in the lower side”.
JRG EQUITY RESEARCH (IndiTrade): “The NSE Nifty is expected to open in a narrow range and may remain range bound due to rollovers ahead of the expiry of the December futures series on Thursday. After the opening Nifty may move between the first support at 4744 and the Critical level at 4804. There may be a strong positive sentiment above 4804 wherein which the index can target 4824. The major resistance above this is at 4838. However after the initial consolidation, if the benchmark trades below 4744, it may get a lower support at 4718”.
NIRMAL BANG SECURITIES: “Nifty continued to trade in the positive. Nifty somehow manages to keep the closing near breakout levels i.e. 4780. Range bound trading is expected in the Nifty. Resistance 4840/4870 with support of 4740/4700”.
HEM SECURITIES: “The Sensex staged nice performance on the first day of last week of the year 2011, shooting up over 200 points amid low volumes. Telecom, technology, banks, FMCG and capital goods were major sectors that led the rally. Positive macro data and congress move from the US too lifted the confidence of Indian equities today. For tomorrow, markets are expected to be upward”.
INVENTURE GROWTH & SECURITIES: “Traders may note that although Nifty is rising up, but the rise is not complemented by rise in volumes. In fact, volumes over the last 3 trading session are falling. This shows lack of strength in the rise and increases chances of reversal. Traders should book profits regularly and trade with the trend. FII trading activity figures over last two weeks suggests that FIIs have been overall net sellers. It also shows that investor sentiment is worsening. However, we have not seen any big sell-off as yet. If that happens then we could see further downside risks to the overall indices. The rise in Nifty is expected to face resistance at 4,836-4,910 levels. On the downside, major supports are placed at 4,525-4,365 levels”.
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