Emkay: Trading Today
Rajesh Desai
Trading Today
(February 06, 2013)
From Our Technical Desk
From The Dealing Desk
Market Outlook:
Following weak global cues, Nifty saw a gap down opening. Thereafter, it went sideways and oscillated in the range of 5970 to 5946. But all through the day, index maintained the opening gap of 5981.25 and that makes it a key pivotal point. The advance/decline ratio was almost 1:2.
Nifty:
We still believe that the short term trend is bullish and current decline is a good buying opportunity. We maintain our upside targets of 6111 (high of January 29) and 6150 (prior high). The daily stochastic has reached the oversold zone and that has tipped the balance in favour of a rally. On the downside, 5945 (50 DMA and medium term trendline) and 5919 (bullish gap of January 1) are the key supports for short term.
Support: Major support level 5919.
Investment Ideas
- Maruti Suzuki India Limited @ Rs. 1600 (Target Price: Rs. 1700)
Trading Ideas
- Positive bias - Sun Pharma (Target 770), JM Financial (Target 26), Tv18 (Target 38), Unitech (Target 45), Zee Ltd (Target 260), JP Associates (Target 88) & Anantraj (Target 90). 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
CA. Rajesh Desai
Rajesh Desai
Trading Today
(February 12, 2013)
From Our Technical Desk
From The Dealing Desk
Market Outlook:
The markets traded within a tight range amid high volatility and ended on as flat note. Buying was seen in Realty and Banking counters while Technology sector witnessed selling pressure.
Nifty:
Nifty traded within a tight range and ended on a flat note. The double bottom formation at 5847 on 21 Dec. 2012 will act as a strong support for Nifty. The 50 DMA at 5970 will act as an immediate resistance for Nifty. A close above this level will further extend the rally up to 6050/6100 until then expect selling pressure to continue at higher levels.
Support: Major support level 5880/5850.
Investment Ideas
- Mahindra & Mahindra @ Rs. 883 (Target Price: Rs. 1100)
Trading Ideas
- Positive bias - JM Financial (Target 26), Tv18 (Target 38), Unitech (Target 45) & Zee Ltd (Target 260). 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
Rajesh Desai
Trading Today
(February 14, 2013)
From Our Technical Desk
From The Dealing Desk
Market Outlook:
The markets gave off from the days high and ended on a flat note. Buying was seen in the Technology sector while Metal and Realty sectors witnessed selling pressure.
Nifty:
Nifty gave off from the days high and ended on a flat note. Nifty continues to close below its short term moving averages and the negative crossover of the RSI indicates that the short term trend is negative. The 50 DMA at 5976 will act as a stiff resistance for Nifty. Support for Nifty is seen at 5880/5850 and major sign of weakness can be seen if Nifty closes below this level.
Support: Major support level 5900/5880.
Investment Ideas
- OIL India @ Rs. 542 (Target Price: Rs. 722)
Trading Ideas
- Positive bias - Tv18 (Target 38) & Zee Ltd (Target 260). 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
