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Trading Today
(March 20, 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 across the board and ended in red. Buying was seen in the FMCG sector while Realty and Banking counters witnessed selling pressure.
Nifty:
The markets ended in red on account weakness seen across the globe. Nifty managed to close above its 50 DMA (5,264) but if Nifty closes below this level then the short term trend will turn negative and we might see Nifty drifting further lower to 5,180 levels. Resistance is seen at 5,300 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 5,260/5,200
Conclusion: Market to remain volatile, trade with strict Stop Loss.
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Trading Ideas
- Trading idea which we like is SUN PHARMA(Target 590). Traders maintain stop loss accordingly.
Investment Ideas
- Kajaria Ceramics CMP @ Rs167 (Target Price: Rs225)
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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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