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Trading Today
(March 15, 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 form the day’s high and ended with modest gains. Buying was seen in the Banking sector while Realty and Metal counters witnessed selling pressure.
Nifty:
The markets ended with modest gains after a volatile session. The market is expected to remain volatile ahead of the RBI policy and the Union Budget and one need to be cautious while building fresh positions around this level. Strong support is seen at 5,450/5,400 and a close below this level would drifty Nifty further lower to 5,300 levels. Resistance is seen at 5,520 and a close above this will extend the rally further to 5,600 levels.
Support: Major support level 5,450/5,420
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
- Divi's Lab CMP @ Rs 737 (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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