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Trading Today
(March 19, 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 witnessed selling pressure during the last hour of trade and ended in deep red. Buying was seen in the FMCG sector while Realty and Banking counters witnessed selling pressure.
Nifty:
The markets witnessed selling pressure across the board ended in red for the third consecutive session. Nifty closed below its major support level of 5,400 and we might see Nifty drifting further lower to 5,250 levels. The 50 DMA at 5,254 will act as an immediate support for Nifty where buying can emerge. Resistance is seen at 5,400 and positive development can be seen only if Nifty stabilizes above this level until that expect selling pressure at higher levels.
Support: Major support level 5,300/5,280
Conclusion: Market to remain volatile, trade with strict Stop Loss.
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Trading Ideas
- Trading idea which we like is HPCL (Target 345). Traders maintain stop loss accordingly.
Investment Ideas
- IRB Infrastructure : CMP @ Rs 198 (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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