----- Original Message -----
Sent: Friday, March 05, 2010 8:30 AM
Subject: Trading Today dated March 05, 2010
| Trading Today (March 05, 2010) |
| | From Our Technical Desk | From The Dealing Desk | | Momentum sees deterioration - After a quite choppy session, finally Nifty ended the day on a dull note with a loss of 7 odd points on the board. As far as the technical parameter is concerned the hurdle of 5100 is still not cleared on closing basis. Secondly, the hourly MACD has given a sell signal near 61.8% retracement area of the entire fall, so the overall sentiment still stands in the corner of the bears with 5100 and 5175 acting as a crucial hurdles going ahead. On downside 5045 is the key support below which the slide can deepen upto 4996 in the coming session.
BSE Realty - Buying was witnessed in the BSE Realty index and it outperformed the broader market and finally closed at 3399 with a gain of 2.50%. On the daily degree the index has broken above the bearish trendline and successfully managed to close the supply line, indicating further bullishness in the index henceforth. Thus now in the coming days it will test 3471 which is the weekly swing high and should now get tested and remains a crucial short term decider. However if the above mentioned level is breached then expects targets in the region of 3600.
| Trading Ideas - Remain stock specific from current levels.
- Mid term trading ideas which we like are Escorts (Target Rs160), Jai Corp (Target Rs290), Dena Bank (Target Rs94) and Hind Oil Expo (Target Rs282). Traders maintain stop loss accordingly.
Investment Ideas - Jubilant Food Works Ltd: CMP @ Rs236 (Target Rs298)
| | 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 | |
| |
Emkay Retail Advisory | Emkay Global Financial Services Ltd. | www.emkayglobal.com
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Please use your discretion before acting on the ideas expressed in the group.
Happy Trading,
United we grow!!!
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