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Trading Today dated March 02, 2012
Trading Today
(March 02, 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 ended in red after a very volatile session. All the major sectoral indices ended in red, Metal and Realty counters being the worst hit.
Nifty:
Nifty traded within a tight range amid high volatility and ended in red. Nifty is expected to trade in the range of 5,300 and 5,500 and any strong move on either the side will decide the trend. Major positive development can be seen only above 5,580 till then expect selling pressure at higher levels. On the lower side strong support is seen at 5,320 and close below this level would drift Nifty further lower to the 5,200 levels.
Support: Major support level 5,350/5,300.
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),JAI CORP (Target 125), HDIL (Target 128) & RIIL(Target 520). Traders maintain stop loss accordingly.
Investment Ideas
- CESC CMP @ Rs 266 (Target Price: Rs 371)
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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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