Emkay: Trading Today dated February 29, 2012 ::PDF link

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Trading Today (February 29, 2012)

From Our Technical Desk From The Dealing Desk Market Outlook: The markets opened with an upside gap, traded firmly throughout the day and ended in green. Buying was seen in Realty and Banking counters while Technology sector witnessed selling pressure.   Nifty: Nifty closed on a strong note on account of huge buying seen in heavy weight stocks like SBIN, LT, Icici Bank etc. Nifty is expected to trade in the range of 5,300 and 5,450 and any strong move on either the side will decide the trend. The 5 DMA at 5,455 will act as an immediate resistance and we need a very strong trigger to surpass this level. However stability above 5,450/5,480 will further extend the rally up to 5,600 levels. Immediate support at 5,380/5,350 on the lower side and break below the support expect declines to the 5,200 level.   Support: Major support level 5,380/5,350. Conclusion: Market to remain volatile, trade with strict Stop Loss. Trading Ideas Trading ideas which we like are HPCL (Target 330), REL CAP (Target 420), JAI CORP (Target 118), HDIL (Target 125), LOVABLE (Target 420),RIIL (Target 530) & ABAN (Target 515). Traders maintain stop loss accordingly. Investment Ideas IRB Infrastructure CMP @ Rs188 (Target Price: Rs240) Statistical Data Derivatives Update Advance Decline Ratio Sector updates Exchange Volumes Implied Volatility for ATM Options Put Call Ratio for (Open Interest) FII - MF Activity World Markets Currency Click here to read report: Trading Today