Emkay: Trading Today

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Rajesh Desai

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Jan 21, 2013, 4:13:15 AM1/21/13
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Trading Today

(January 21, 2013)

From Our Technical Desk

From The Dealing Desk

Market Outlook:

The markets opened with an upside gap but gave of from the day’s high and ended with modest gains. Buying was seen in the Oil & Gas and Realty counters while Technology sector witnessed selling pressure.

Nifty:

Nifty gave off from the day’s high and ended with modest gains. The daily chart of Nifty suggests a DOJI formation which signifies indecision in the market. The 20 DMA at 5993 will act as an immediate support for Nifty and a close below this level will further drift Nifty lower to test 5920/5900 levels. Resistance is seen at 6080/6100 for Nifty.

Support: Major support level 6050/6020.

Investment Ideas

  • Dr. Reddy @ Rs. 1891 (Target Price: Rs. 2250)

Trading Ideas

  • Positive bias - SBIN (Target 2600) 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. | 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

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CA. Rajesh Desai
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