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Trading Today
(February 27, 2012)
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From Our Technical Desk
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From The Dealing Desk
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Market Outlook:
The markets traded within a tight range amid high volatility and ended marginally in red. Moderate buying was seen in Technology and Metal counter while Banking and Realty counters witnessed selling pressure.
Nifty:
Nifty witnessed selling pressure and ended in red. The 20 DMA at 5,381 will act as an immediate support for Nifty. The 5 DMA at 5,510 will act as a stiff resistance and we need a very strong trigger to surpass this level. The market is expected to consolidate amid high volatility in the absence of any fresh triggers so as to create a base before we head for a big rally. Fresh buying can be seen only if Nifty stabilizes above 5,600 levels.
Support: Major support level 5,420/5,400.
Conclusion: Market to remain volatile, trade with strict Stop Loss.
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Trading Ideas
- Trading idea which we like is HPCL (Target 330). Traders maintain stop loss accordingly.
Investment Ideas
- Glenmark Pharma CMP @ Rs 314 (Target Price: Rs360)
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Statistical Data
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- 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
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