Trading Today
(August 08, 2012)
From Our Technical Desk
From The Dealing Desk
Market Outlook:
The markets ended on a strong note on account of huge buying seen in the heavy weight stocks like Icici Bank, SBIN, TCS etc. Buying was seen in Auto and Technology counters while Oil & gas sector witnessed selling pressure.
Nifty:
The markets ended in green on account of strong global cues. Resistance is seen at 5,380/5,400. Fresh positive development can be seen if Nifty closes above 5,400 until then expect profit booking taking place around this level. Support for Nifty is seen at 5,300/5,280. First sign of weakness can be seen only if Nifty closes below 5,200 until then every dip can be considered as a buying opportunity.
Support: Major support level 5,300/5,280.
Investment Ideas
- Torrent Pharma CMP @ Rs.695 (Target Price: Rs.785)
Trading Ideas
- Positive bias is in stocks like ZeeL (Target 190), Strides (Target 800), Mangalore Chem (Target 57) and Indian Hotel (Target 68).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. | www.emkayglobal.com
7th Floor, The Ruby, Senapati Bapat Marg, Dadar (W), Mumbai– 400 028| Board No.: +91-22-66121212 | Fax : +91 22-6612 1299
Trading Today
(August 09, 2012)
From Our Technical Desk
From The Dealing Desk
Market Outlook:
The markets consolidated throughout the day amid high volatility and ended on a flat note. Buying was seen in Auto and Metal counters Realty sector witnessed selling pressure.
Nifty:
Nifty gave off from the day’s high and ended on a flat note. The daily chart of Nifty suggests negative divergence which indicates that we might witness some profit booking taking place around 5,380/5,350 levels. Nifty is about to enter the overbought zone since RSI is trading at 66 levels and Nifty might drift further lower to test 5,280/5,250 levels where buying can emerge. The 5 DMA at 5,297 will act as an immediate support for Nifty.
Support: Major support level 5,300/5,280.
Investment Ideas
- NHPC CMP @ Rs18 (Target Price: Rs26)
Trading Ideas
- Positive bias is in stocks like ZeeL (Target 190), Strides (Target 800), Mangalore Chem (Target 57), Tech Mahindra (Target 820) and Indian Hotel (Target 68). 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. | www.emkayglobal.com
7th Floor, The Ruby, Senapati Bapat Marg, Dadar (W), Mumbai– 400 028| Board No.: +91-22-66121212 | Fax : +91 22-6612 1299