"WEEKLY MARKET OUTLOOK & TRADING IDEA FOR THE WEEK 23.04.2012 TO 29.04.2012"

The 30-share index, Sensex gained 279.33 points (1.63%) to 17,373.84 for the week ended April 20, 2012. The broad based NSE Nifty gained 83.40 points (1.60%) to 5,290 during the week.

VIEWS FROM DIFFERENT BROKING HOUSES:

DANI SECURITIES: “The market may remain volatile as traders roll over positions from the near-month April 2012 series to May 2012 series”.

HDFC SECURITIES: “Markets have taken a breather after four sessions of gains. Further weakness is likely if the immediate supports of 5245 are broken. On the upside, the Nifty needs to take out the highs of 5342 for the bulls to regain control in the coming week”.

KOTAK SECURITIES (Shrikant Chouhan): “The markets are going to remain range bound between the range of 5,400 ad 5,100. In the short term 5,350 ad 5,180 will act as a major resistance and support for the market. Strategy should be to Buy call option around 5,150 with a stop loss at 5,080 and Buy put option around 5,380/5,400 with a stop loss above 5,440. Infra pack to invest with a medium to long term view. Especially LT, IVRCL INFRA and JP Associates. A close below 5,080 should be negative for the market and in that case reduce leveraged long positions”.

CANARA BANK SECURITIES (CanMoney): “Nifty has been in a narrow band of 5250-5400 since the last few weeks and witnessed a down trend after consolidation. The trend line resistance at 5350 if breached in the near term then a move beyond this level could take the index higher to 5400 in the extreme short term”.

FAIRWEALTH SECURITIES: “In the next session Nifty is expected to trade in the range 5266 to 5366. Below this range 5200 may act as a support level while 5410 is a crucial resistance level. Bank Nifty is expected to find support around 10280 while 10600 may act as resistance level”.

BONANZA ONLINE: “Nifty made Piercing candlestick pattern on weekly charts, which shows that bulls are having control at the moment. On upside, Nifty has resistance zone in 5350-5400. On downside, Nifty has some support in 5200-5100 zone. For trading during the coming sessions, trend deciding level is 5300. If Nifty shows strength above 5300 levels then we may see rally till 5350/5400/5570/5550. If Nifty doesn’t sustain above 5300 levels then selling pressure till 5250/5180/5100 may also be seen”.

Duration	Action	Entry Zone (NF)	For Target of	Stop Loss
For Monday	Buy	5300-5320	5390	5275
For the Week	Buy	5280-5320	5390-5435	5250

BONANZA PORTFOLIO (Shanu Goel): “Apart from the domestic events, global cues too will continue to influence the market trend. Upside resistance exist at 5340- 5370 and downside support is at 5230-5210”. (source: myiris)

VENTURA SECURITIES LIMITED: “On Monday (5295-5322) would be sell levels. Weak Markets won’t cross 5305. Above 5322 Nifty could test 5336 (Friday’s high), further it could open for 5342-5360-5420-5441-5530. Nifty has support at 5245 (Friday’s low). Below it could open for 5228-5183-5135-5080-4950-4768”.

GEPL CAPITAL: “The level of 5400 is initial resistance and breakout level for Nifty Futures and for continuing the uptrend, Nifty Futures has to cross this level decisively. The next target after crossing 5400 will be 5550 - 5600 in the immediate term. The current trend of uptrend will remain intact until Nifty Futures is trading above 5200 on closing basis”.

KARVY STOCK BROKING: “Last week, auto, metals, FMCG, BFSI and PSU rallied significantly while IT and power saw selling pressure. Long positions can be assumed in automobiles, consumer durables, BFSI, metals and pharma if markets hold 5,150 levels. Short positions can be assumed in capital goods, software and cements if the Index fails to sustain above 5,400 levels or below 5,150 levels. Overall, we expect the Nifty to trade in a broad range of 5,150-5,400 levels this week”.

ADITYA BIRLA MONEY (MONEY WEEKLY): “The market is expected to remain volatile next week on account of expiry. There would be stock specific movement based on results. For the market to get out of the narrow trading band of 5150-5350, action on the oil subsidies front would be required”.

ICICI SECURITIES: “The Nifty is finding continuous resistance near its 50 DMA of 5350. However, continuous addition at 5200 Put makes it an important support. The Bank Nifty found strong resistance at 10700 last week. Apart from HDFC  Bank  and  Kotak  Bank  rest  of  the  banking  heavyweights  observed  selling pressure. PSU mid-cap banks showed accumulation of short positions and may remain under pressure”.

SMC TRADEONLINE (WISE MONEY): “the 5200 level will remain crucial support for bulls, and if Nifty slips below the 5200 mark, it could slide to 5050 levels. On the contrary, the index may face stiff resistance at 5350-5400 levels. The put-call ratio of open interest remained flat and closed at 1.26 levels. The options open interest concentration has shifted to the 5400-strike call with the highest open interest of above 70 lakh shares. Among the put options, the 5200-strike has the total open interest of 73 lakh shares. Option position indicates expiry in the range of 5200 to 5400. The Implied Volatility (IV) of call options closed at 18.57%, while the average IV of put options closed at 18.90%. Nifty is expected to remain in a broad range of 5200-5400 levels; the move may remain mixed amid increased volatility in the next week”.

GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically we now go into F&O expiry week and we could see some volatility during the week and range bound confining itself perhaps to 5400 on the upside and 5200 on the downside and trading is expected to be a bit difficult during the week. From a Trading point I would it would be wiser to play the short side of the market with a stop of 5340 for targets closer to around 5200”.

ANGEL BROKING (Technical): “Broadly speaking, the view on the markets remains unchanged from last week and indices continue to trade in the trading range of 17000 to 17530/5345 to 5180. Only a breakout from the said range on either side would dictate the direction for the markets. This week indices managed to cross 'Downward Sloping Trend Line' resistance of 17400/5300 level during the week. However, the movement above this resistance was observed on very low volumes and hence, cannot be construed as an appropriate technical breakout. We are of the opinion that, if indices sustain above the weekly high of 17531/5343 on the back of strong volumes, then we are likely to witness enhanced buying interest among market participants. As a result, indices may rally towards their next resistance levels of 17664-17900/5380-5441. Conversely, the '200-day SMA' level of 16920/5135 holds key support in coming trading sessions. A violation of this swing low may reinforce the selling pressure and then markets are likely to drift towards the next support levels of 16828-16600/5076-5000”.

MICROSEC SECURITIES: “For the coming week, first support of Nifty is at 5220 and the resistance is 5350. If Nifty breaks 5220, it may further go down to 5180 and then 5130. However, if Nifty is able to sustain above 5350, the level of 5420-5510 would become the next target”.

INDIRATRADE SECURITIES: “For the next week, Nifty likely to trade in the range between 5450-5500 in the upper side and 5150-5100 in the lower side”.

SWASTIKA INVESTMART: “The Market is expected to remain volatile on account of April month F&O contracts Expiry which will due on Thursday, 26^th April 2012. Apart from these, Q4FY12 and year ending March 2012 (FY 2012) Result of giants like TCS, Sesa Goa, Wipro, Sterlite Industries, ICICI Bank, Axis Bank, Jindal Steel & Power, Siemens, Maruti Suzuki may impact stocks specific movement”.

MAGNUM RESEARCH: “On the Nifty 5145 mark (200 DMA) will have a strong support closing below which Major trend will turn negative and selling pressure till 5040 levels could be witnessed. On upside, 5330 will act as immediate resistance, sustaining above which the next level would be 5400 level”.