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Trading Today
(March 13, 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 opened with an upside gap, gave off from the day’s high and ended on a flat note. Buying was seen in Realty and Banking counters while Technology counter witnessed selling pressure.
Nifty:
The markets traded within a tight range amid high volatility and ended with modest gains. Resistance is seen at 5,420/5,440 and a close above this will extend the rally further to 5,550 levels. The 5 DMA at 5,316 will act as an immediate support for Nifty. Major sign of weakness can be seen only if Nifty closes below 5,200 until that any dip can be considered as a good buying opportunity in the market.
Support: Major support level 5,350/5,320.
Conclusion: Market to remain volatile, trade with strict Stop Loss.
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Trading Ideas
- Trading idea which we like is JAI CORP (Target 125), HINDALCO (Target 145), LOVABLE (Target 420) & HPCL (Target 345). Traders maintain stop loss accordingly.
Investment Ideas
- CESC CMP @ Rs297 (Target Price: Rs371)
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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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