MOTILAL OSWAL FINANCIAL SERVICES (Raamdeo Agrawal):
“Inflation and scams have made short term outlook very uncertain. Foreigners have been selling every day. Markets would be faring for anti-inflationary action from the government”.
KOTAK SECURITIES (Shrikant Chouhan):
“Last week rally continued and took prices to the level of 6,170-6,180, but lacked momentum thereafter. Lack of momentum showed its effects and nifty tested and closed at the week`s lowest level of 5,890-5,900. Lack of volume was witnessed in the market. Trading range of the last week was violated on both highs and lows, which signals bearishness.
Favored view for the coming week, expect a dip and consolidation around 5,820-5,840, before the next leg of pull back rally evolves towards 6,050. Alternatively, any pull down that extends below 5,800 would be disappointing, and we would retract into an iffy situation with a large propensity for more fall towards the level of 5,550 with a minor support at 5,700. Strategy should be to reduce longs and initiate Out of Money Puts in the pullback level of 5,950”.
PINC RESEARCH:
Nifty: The medium term charts of the Nifty are no more in a position of bullish strength. The move this week suggests that the Nifty has begun to respond to this weakness and opens the way for further declines over the medium term. A move below 5,825 can have the potential to drag the Nifty down to 5,175 - 5,200 levels.
Nifty Midcap: The Midcap has turned weak as we had expected. This weakness is likely to continue further, thus dragging the index lower. Meaningful medium term support can emerge around 7,900. We expect a weak trend ahead.
YEARLY PICKS FROM DIFFERENT BROKING SERVICES::
VENTURA SECURITIES:
GLOBE EQUITIES:
SOME RECOS FROM DIFFERENT BROKING HOUSES:
CANARA BANK SECURITIES (CANMONEY):
Accumulate Glenmark, Dabur and SBI
ASTRONONEYGURU.COM (AJAY JAIN):
Buy Orient Paper (Rs 53.75) with stop loss of Rs 52.50, target of Rs 55, 56
Buy ITI (Rs 42) with stop loss of Rs 41, target of Rs 43, 44.50
EDELWEISS BROKING HOUSE (WEEKLY TECHNICAL PICKS):
Buy GAIL (India) CMP of Rs 524.5 with target of Rs 565 and stop loss of Rs 502.6
Sell Ambuja Cements CMP of Rs 128.4 with target of Rs 117 and stop loss of Rs 135
Sell Jindal Steel & Power CMP of Rs 708.1 with target of Rs 655 and stop loss of Rs 725.3
