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Trading Today
(March 01, 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 gave off from the day’s high and ended on a flat note. Buying was seen in Oil & gas and Metal counters while FMCG and Banking sectors witnessed selling pressure.
Nifty:
Nifty traded within a tight range amid high volatility and ended on a flat note. The market is expected to consolidate further in the absence of any fresh triggers so as to create a base before we head for a big rally. 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 5,380/5,350.
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
- Divi's Lab CMP @ Rs 728 (Target Price: Rs927)
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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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