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WEEKLY MARKET OUUTLOOK
Nifty remain +ve throughout the week after strong Monday gains. Friday trading session saw a new 2009 high for Nifty. Weekly low was 4536.95, weekly high was 4743.75
WEEK AHEAD
Nifty on verge of very bullish breakout above 4730. Bullish Inverted Head and Shoulders formation on Nifty, breakout above 4730-4800 on high volumes, gives medium term target of 5400-5500. However another significant resistance is 61.8% Fibonacci retracement of entire bear market fall, which is at 4800 Nifty. Weekly Close above 4800 can trigger a very sharp rally northwards. Nifty weekly supports 4510-4360, weekly resistances 4800-4970. Upmove is intact till uptrend support line holds.
Resistance : 16020 / 16125 / 16230 / 16445 / 16675 / 16880
Support : 15885 / 15720 / 15545 / 15370 / 15150 / 15000
Resistance : 4760 / 4790 / 4805 / 4885 / 4935 / 5000
Support : 4705 / 4655 / 4590 / 4530 / 4480 / 4320
SECTOR WATCH : REALITY (Bullish)
Total OI of DLF FUT down 3.93% prices up 8.14%, HDIL FUT down 8.19% prices up 13.65%, IBREALEST FUT up 31.47% prices up 6.34% and
UNITECH FUT up 2.96% prices up 15.74% last week. OI down due to expiry last week. REALITY counters showing long positions build up.
We expect positive move next week.
Total OI of VOLTAS FUT up 87.94% prices up 12.74% last week.
We expect up move in coming week.
1) Total OI of NIFTY FUT down 10.73%, NIFTY FUT up 4.44% last week. OI down due to expiry.
2) Out of NIFTY 50 Stock FUTS, 41 Stock FUTS closed positive, 03 Stock FUTs closed negative and 06 Stock FUTs close flat last week.
3) OI of current series NIFTY 4700 CE is up 55.75% prices up 194.03%, NIFTY 4800 CE is up 173.26% prices up 60.32% and NIFTY 4900 CE is up 88.19% prices up 54.44% last week showing call buying. OI of NIFTY 4900 CE is 30.38 LK highest OI in CALLs.
4) OI of current series NIFTY 4300 PE is up 81.41% prices down 64%, NIFTY 4400 PE is up by 98.65% prices down 60.43% last week showing put writing. OI of NIFTY 4500 PE is up by 121.43% prices down 57.10%, NIFTY 4600 PE is up 1330.93% prices down 52.48% last week showing aggressive put writing.NIFTY 4500 PE is 36.73 LK highest OI in PUTs.
Highest CALL Writing - 4900,Highest PUT Writing – 4500,Close Below 4480,Can Touch 4350/20/4280
5) Total OI of SEP series CALLs is up by 80.29 LK to 1.62 CR, SEP series PUTs is up by 1.22 CR to 2.36 CR. NIFTY SEP series PCR (OI) at 1.45.
PCR (OI) at higher side in new series compare to last 3 series.
NIFTY SPOT to show up move next week. Resistance Around 4880-90, 4930-40 levels. Above 4950 levels, next TGT will be 4990-5000 levels.
We expect profit booking above 5000 levels. On down side, NIFTY SPOT Support Around 4700-4690, 4600-4610 levels. Stock specific move will remain next week.
[ First Target Hits, Sell 30-50% & Move Sl To Your Cost Or Above ]
KOHINOORFOODS Above 55,Sl 45,Tgt 70/75
VARUNSHIP Around 55/60,Sl 50,Tgt 70/75
BINANICEM Above 60,Sl 50,Tgt 70/75/80
NITCO Around 60/65,Sl 50,Tgt 75/80
ESSARSHIP Above 65,Sl 55,Tgt 80/85
TECHM,Sl 890,Tgt 1000/20/40/50
UCOBANK Above 40,Sl 35,Tgt 50/55
AMTEKAUTO Above 45,Sl 40,Sl 55/60
NOIDATOLL Around 40/45,Sl 35,Tgt 50/55
HEIDELBERGCEM Around 40/45,Sl 35,Tgt 50/55
NETWORK18 Above 95,Sl 85,Tgt 135/45
IFCI Above 55,Sl 50,Tgt 60/65/70/75
DAAWAT Around 55/60,Sl 50,Tgt 70/75
BILT,Sl 20,Tgt 30/35
SESAGOA Above 215,Sl 200,Tgt 235/45/50
IDEA Above 80,Sl 75,Tgt 85/90/95
CENTURYTEXT Above 450,Sl 430,Tgt 475/80/85
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