"Sometimes the cure for restlessness is rest" – C Wainwright
If you are not comfortable to trade in a rangebound and/or volatile market, better you stay out for the time being and take rest till the market is stable.
CANARA BANK SECURITIES: "Technically, Nifty has breached the resistance of 5,450 and managed to close above that, which is a positive signal for our market. Due to the heavy selling pressure, Nifty closed the session below the vital levels of 9 & 15 Days SMA placed at 5,448 and 5,432 for the second successive day, which was not a good sign for market. 50 and 100 day`s SMA pertains to Nifty are placed at 5,325 and 5,249; these levels may act as new supports, in coming sessions. VIX for the day was recorded at moderate level of 16.74. RSI (14) for the day was at 57.12 levels & MACD was below the signal line, thus combined together they are giving the signals for little consolidation and ranged movement."
MANGAL KESHAV SECURITIES: "Nifty witnessed a follow-up buying after testing earlier drawn Channel support of 5,385 level. No major change in the strategy as Nifty is trapped within a price range. As explained earlier, Nifty is trading in a Broadening Price Formation and a breakout above 5,500 level could lead for a short covering which eventually will push Nifty to test the upper band of 5,530 level. Looking at the Daily chart, Nifty should face upside resistance at 5,500 & 5,530 level while the expected support will be 5,400 - 5,375 level. A breakout above 5,530 will negates the earlier view. On an intraday basis, Nifty spot should find (PIVOT) support near 5,381 & 5,347 level while the resistance will be at 5,440 & 5,465 level".
PINC MONEY: "The trend in Nifty remains positive in the medium term charts despite many global upheavals. It is facing strong resistance at 5475 which was our target level. The next resistance is likely to be in the range of 5575 - 5600, while the level of 5350 - 5325 can offer good initial support".
BONANZA PORTFOLIO: "The market is expected to continue with consolidation. The market has a support around 5,350 levels".
One can accumulate HT MEDIA in a range of Rs 164-167 levels with closing below stop loss of Rs 156 levels for the targets of Rs 190-200 levels & NEYVELI LIGNITE between Rs 162-164 levels with closing below stop loss of Rs 157 levels for the target of Rs 175-180 levels.
ANAND RATHI: Buy AMTEK AUTO at CMP (Rs 185) for a upside of 37% and target price of Rs 254
KOTAK SECURITIES: Buy IVRCL at CMP (Rs 159.75) for a upside of 28% and target price of Rs 204
PRABHUDAS LILEDHAR: Buy BHARATI SHIPYARD(BHSL) at CMP (Rs 229.30) for a upside of 26% and target price of Rs 291
EMKAY GLOBAL: Buy M&M at CMP (Rs 632.65) for a upside of 22% and target price of Rs 775
SHAREKHAN: Buy GREAVES COTTON at CMP (Rs 374.30) for a upside of 18% and target price of Rs 442
MOTILAL OSWAL: Buy GAIL at CMP (Rs 449.10) for a upside of 10% and target price of Rs 495
INDIAN INFOLINE: Buy BIOCON (CMP Rs 342) between Rs. 339-344 with stop loss of Rs 330 for a target of Rs 365 and Rs 370;
Buy DLF (CMP Rs323) between Rs 320-325 with stop loss of Rs 310 for target of Rs 350-355
PINC MONEY: ICICI BANK:: Price: CMP Rs 976; Outlook: Positive over the medium term. Target Price: Rs 1125 - 1150 in 3- 4 months
FOR INFORMATION: BANK OF INDIA, HINDUSTAN ZINC and TATA MOTORS are 3 group `A` companies which have posted weekly gains consistently for last 5 weeks; FEDERAL BANK, GTL and PUNJLLOYD are 3 group `A` companies which have posted weekly losses consistently for last 5 weeks
