BONANZA PORTFOLIO:
“The market is expected to consolidate in a range of 5,850/6,150. The market can be expected to be volatile”.
ANGEL BROKING:
“Market opened higher and traded in the positive territory throughout the day to close in green. On the daily chart we are observing that prices have closed well above the downward sloping trendline which is sign of strength. Hence, in the coming trading session if indices trade convincingly above 20,100/6,010 levels then they are likely to test 20,217-20,380/6,070-6,150 levels. On the downside, 19,711-19,600/5,960-5,900 levels may act as support for the day”.
KARVY SECURITIES:
“The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow. Trade long in Nifty if it holds above 6000 levels with stop loss placed at 5970 for targets of 6,050 and 6,080 levels”.
INDIAN INFOLINE (IIFL):
“Today`s upswing happened on fairly low volumes as big institutions continue to stay on the sidelines as the year-end approaches. The key indices in India will likely remain choppy in the near term and the Nifty is expected to trade in a range of 5,750-6,050”.
CANARA BANK OF SECURITIES (CANMONEY):
“Technically, after a good opening, Nifty consolidated its gains and managed to close above the vital resistance level of 6,000; which is good news for the bulls. Nifty has tested the upper resistance of 6,020-6,025 range and witnessed some correction from those levels. Owing to good buying in mainline stocks and firm opening of European indices, Nifty managed to close above its 9,14 and 100 day`s SMA level placed at 5,907, 5,934 and 5,858 levels but closed below 50 day`s SMA placed at 6,028; these levels may act as new ranges, in coming sessions. PCR for the day was recorded at 0.94 against 0.94 as on last trading session. VIX for the day closed at little lower level of 19.77% and indicating less volatility in market in the forthcoming sessions. RSI (14) for the day was at 53.16 levels and MACD was above the signal line, thus combined together they are giving the signals that market is likely to trade upward for some time”.
BONANZA: PUNEET KINRA: Nifty opened on positive gap up note at 5,960.40 levels and showed good strength throughout the day. Nifty made high at 6,007.45 levels and closed in green at 6,000.65 levels with 53.6 points gains.
``Nifty showed good strength and closed in green at 6,000 levels with decent volumes. Bulls are having control in the short term. Momentum strength may be seen, if Nifty starts trading above 6,010 levels," said Puneet Kinra, senior technical analyst (Equity Research), Bonanza Portfolio, while commenting on the outlook.
"For daily purpose, the trend deciding level is at 6,000. If Nifty shows strength above 6,000 levels, then rally to 6,050-6,070/6,150 levels may be seen. If Nifty does not show strength above 6,000 levels then selling pressure till 5,950/5,900 levels may also be seen," he added.
FAIRWEALTH SECURITIES:
“Indian market took a positive start and sustained the gains throughout the day, with both indices sensex and nifty closed above the psychological marks 20,000 and 6,000 respectively. The Sensex closed at 20,060, up 171 points from its previous close, and Nifty closed at 6,000, up 53 points”.
“In the next session, nifty if sustains above 5,980 may rally up to 6,070 and more. However, 5,830 may act as an important support for nifty, intraday traders are suggested to avoid long positions below 5,930 nifty level. Banking heavy weights and metals may participate in rally while IT, cements and telecom may face selling pressure” it opined
Buy Aurobindo Pharma above Rs 1,350 with a stop loss of Rs 1,370-1,390 for target of Rs 1,330.
Buy Axis Bank above Rs 1,325 with a stop loss of Rs 1,340-1,370 for target of Rs 1,309.90
FAIRWEALTH SECURITIES : FNO (INTRADAY):
Buy Maruti futures above Rs 1,450 with a stop loss of Rs 1,465-1,490 for target of Rs 1,435.
Buy Mcleod Russel futures above Rs 208 with a stop loss of Rs 211-215 for target of Rs 204.90.
Buy Tech Mahindra futures around Rs 690 with a stop loss of Rs 716-727 for target of Rs 681
Buy Nifty Futures above 6,022 for target of 6,050-6,080 and stop loss 5,994.
Sell Bank Nifty Futures below 11,450 for target of 11,380-11,300 and stop loss of 11,510.
NOTE: MY VIEW IS BUY NIFTY FUTURE ONLY ABOVE 6027-6029
