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Trading Today
(March 14, 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, traded firmly throughout the day and ended on a strong note. Al the major sectoral indices ended in green, Metal and Realty being the highest gainers.
Nifty:
The markets ended in green on account of huge buying seen in the heavy weight stocks like Tata steel, Reliance Inds., Ongc etc. Nifty closed above its short term moving averages and the positive crossover of the RSI indicates that the short term trend has turned very strong. Resistance is seen at 5,500 and a close above this will extend the rally further to 5,600 levels. The 20 DMA at 5,400 will act as an immediate support for Nifty.
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 Adani Ent (Target 385), JAI CORP (Target 125), RIIL (Target 560),LOVABLE (Target 420) & HPCL (Target 345). Traders maintain stop loss accordingly.
Investment Ideas
- IRB Infrastructure CMP @ Rs 199 (Target Price: Rs240)
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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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