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Trading Today
(March 05, 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 with modest gains after a very volatile session. Buying was seen in the Banking and Metal counters while Realty counter witnessed selling pressure.
Nifty:
Nifty traded within a tight range amid high volatility and ended with modest gains. 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. Strong support is seen at 5,300 and first sign of weakness can be seen only if Nifty closes below this level. The 20 DMA at 5,447 will act as a stiff resistance for Nifty and we need a very strong trigger to surpass this level.
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), Rel Infra (Target 650), Auro Pharma (Target 130) & RIIL (Target 520). Traders maintain stop loss accordingly.
Investment Ideas
- IPCA Laboratories CMP @ Rs 336 (Target Price: Rs 420)
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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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