Trading Today (January 23, 2013): Emkay

Trading Today (January 23, 2013)

From Our Technical Desk From The Dealing Desk Market Outlook: The markets gave off from the day’s high and ended in red. All the major sectoral indices ended in red, FMCG and Realty sectors being the worst hit. Nifty: Nifty gave off from the day’s high and ended in red. The 20 DMA at 6015 will act as an immediate support for Nifty. Resistance is seen at 6080/6100 and a close above this level will further extend the rally up to 6180/6200 levels. First sign of weakness can be seen only if Nifty closes below 5900 until then expect consolidation to continue amid high volatility. Support: Major support level 6020/6000. Investment Ideas Cairn @ Rs. 332 (Target Price: Rs. 397) Trading Ideas Positive bias - SBIN (Target 2600), Jet Airways (Target 650), Mcdowell (Target1980), Century (Target 465) and Aurobindo Pharma (Target 210). Traders maintain stop loss accordingly. Statistical Data 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 Click here to read report: Trading Today

Thanks & Regards, Emkay Equity Advisory | Emkay Global Financial Services Ltd

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