Emkay: Trading Today Apr 26, 2013

[Rajesh Desai]

Trading Today (April 26, 2013)

From Our Technical Desk From The Dealing Desk Market Outlook: Nifty gushed higher in the last hour of trade as traders squared off short positions on the settlement day of April F&O series. It ended at one month high led by index heavyweights like HDFC, NTPC, Tata Motors and Axis bank. Market breadth was in the favour of bulls with 713 advances and 585 declines. Nifty: Nifty saw a gain of more than 4 percent in the April series. Midcap and Smallcap stocks also performed well. But Bank Nifty was the star performer with a massive gain of nearly 12 percent. The current up-move is quite mature and due for a pullback. Besides that the daily momentum is quite over bought. After a robust rally of nearly 8 percent in a span of 10 days a short term breather could be on the way. So we recommend taking some profits off the table and use the pullback to re-enter this established uptrend of Nifty, later in the future. The 50 DMA at 5765 will act as a very strong support for Nifty on the way down. Resistance for Nifty is seen at 5971 i.e. the high of March 11, 2013. Support: Major support level 5765. Investment Ideas Sobha Developers Ltd @ Rs. 379 (Target Price: Rs. 484) Trading Ideas Positive bias – Aurobindo Pharma (Target 210), Infosys (Target 2400) & TCS (Target 1525). Negative bias – HUL May Futures (Target 440). Traders maintain stop loss accordingly. Third Party Product Update Statistical Data Reasons to Invest in Bond Fund Benefit from high interest rates: The fund can invest in securities at a time when interest rates are near their peak levels. Potential for Capital Appreciation: When interest rates start reducing this can lead to potential for capital appreciation. Tax Efficiency & Indexation Benefits: The fund offers tax efficient returns as well as Indexation benefits. Portfolio Diversification: Investing in the fund will enable you to balance your portfolio between equity and debt portions. Liquidity: As the fund is open-ended, units for purchase and redemption are offered at the applicable NAV on an ongoing basis. Why Fixed Deposit Fixed deposit is one of the oldest & most common methods of Investing. FDs look great because you get a decent risk-adjusted return and your principal is protected. Fixed deposits help you to secure your hard earned money for a long duration. Fixed deposit is a financial instrument for you to deposit your money for a fixed duration ranging from 15 days to 5 years. ¾ Quality Companies Offering Attractive Return 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

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CA. Rajesh Desai