Trading Today
(April 05, 2013)
From Our Technical Desk
From The Dealing Desk
Market Outlook:
Nifty opened with a downside gap, witnessed selling pressure throughout the day and ended in red. All the major sectoral indices ended in red, Realty and Technology counters being the worst hit.
Nifty:
Nifty witnessed selling pressure throughout the day and ended in red. The daily chart of Nifty suggests lower top and lower bottom formation which has bearish implications. Support for Nifty is seen at 5550/5520. The 200 DMA at 5656 will act as an immediate resistance for Nifty. Major positive development can be seen only if Nifty closes above 5800 until then expect selling pressure to continue.
Support: Major support level 5550/5520.
Investment Ideas
- eClerx Services @ Rs. 630 (Target Price: Rs. 720)
Trading Ideas
- Positive bias – Mcdowell (Target 2080), SBI (Target 2200) and RCom (Target 75). 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
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Thanks & Regards,
Emkay Equity Advisory | Emkay Global Financial Services Ltd. | www.emkayglobal.com
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