Mumbai Smartest In Financial Intelligence, Delhi Ranks Second

An early start, willingness and goal-based planning to seek professional advice have made traders of Mumbai the most financially intelligent. In a study conducted on behalf of Ameriprise India, a financial planning company by TNS India, investors scored 5.8 on scale of ten, the highest amongst 6 cities. Delhi ranked 2^nd on Financial Intelligence Index with 4.5 score followed by Chennai, Hyderabad, Bangalore and Pune. The study gave equal weightage to 5 parameters: the age at which you begin investing, long term horizon, portfolio diversification, seeking professional help and goal based investment. Almost 700 upwardly mobile traders in the age group of 28-45 years and with annual household income of Rs. 12.5 lakh responded to the survey.

Mr. Kapil Narang, Chief Operating Officer at Ameriprise Indian Advisory Services said that there are potential areas of enhancement across these cities. Traders need to diversify their portfolio, Chennai and Bengaluru would do well with more professional advice, Hyderabad and Delhi should begin investing earlier and Pune should focus on goal-based investing. The survey also shows that Indian traders are waking up to the need for retirement planning. Kim Sharan, President Wealth Strategies and Financial Planning at Ameriprise Financial said that this is an encouraging development.

The trend is most pronounced in Bangalore, where 27 percent of respondents listed retirement as their top goal. In Mumbai, the respondents’ percentage giving primacy to retirement rose from 6 percent last year to 26 percent now. Fascinatingly, traders are now giving priority to retirement planning over other goals, such as purchasing a vehicle or going on a vacation. In Delhi, the biggest automotive market in India, only 14 percent respondents have listed purchasing a vehicle as their top financial goal in 2013. In other cities including Bangalore and Chennai, some traders have even junked plans to invest in a 2^nd house. Nonetheless, it isn’t clear whether these shifts in priorities were because of greater emphasis on retirement planning or on other factors.

Get an idea about today’s SENSEX and NIFTY

Everyone wants to know about markets and most of us are so curious that we want to know the road ahead for the markets before investing our money into it. So here is a brief report about the road ahead for the SENSEX and the NIFTY.

SENSEX:

The SENSEX has witnessed a minor pullback during yesterday’s session. We believe that any dips towards the 20700 levels should be viewed as a good buying opportunity. Sustenance above the 20700 levels or above its near term EMA will see the index heading towards the 21200 levels. We expect the SENSEX to trade broadly in a range of 20700—21200 levels. A break below this level will trigger a pullback to the 20500 levels.

The IT, Consumer durables and Banking indices closed the session with cuts of over 1%. The Health care index closed the session with a gain of 0.65%.

We had recommended buying Prism Cement at `59.50 to the subscribers of our product Delivery calls section. The stock saw a smart rally during yesterday’s session of trade to register a high of `64.40. We   booked part profits at `64 levels, generating a handsome return of 7.5% to our clients.  We are still bullish on Prism and holding our positions for the target of `69/70 levels.

Today’s supports for the SENSEX are placed at the 20750 and 20600 levels whereas resistances are placed at the 21000 and 21200 levels.

NIFTY:

The NIFTY has witnessed a minor pullback during yesterday’s session. We believe that any dips towards the 6230–6200 levels should be viewed as a good buying opportunity. Sustenance above the 6200 levels or above its near term EMA will see the index heading towards the 6350 levels. We expect the NIFTY to trade broadly in a range of 6250—6350 levels. A break below this level will trigger a pullback to the 6150–6180 levels.

We had recommended buying Pun Lloyd to our clients in our product Equity Intraday stock calls section at `128.10 levels. We booked full profits at `130.40 levels fetching a profit of `4600/- per lot to our subscribers of the above product.

We recommend subscribing to our Product Equity Intraday stock Calls section to avail more profitable trading calls.

Today’s supports for the NIFTY are placed at the 6200 and 6230 levels whereas resistances are placed at the 6350 and 6375 levels.

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Trading report about SENSEX and NIFTY

SENSEX:

The SENSEX is facing immediate resistance around 20450 levels.  Any sustained close above the 20450 levels will see the index making a move past the highs of 20855 levels registered in the month of October. We reiterate that the rising gap from 20100 levels will act as a crucial support zone for the SENSEX and any dip towards these levels should be considered as a good buying opportunity. A break below the 20100 levels will see a decline to the recent lows of 19780 levels.

We had recommended buying ACC to our clients in our product Equity Trading Calls Section at 1000 levels. The stock was seen consolidating between the ranges of 980—1025 levels for few weeks before giving a breakout from this range on the back of robust volumes. We booked part profits at 1033 levels whereas full profits were booked during yesterday’s session at 1047 levels.

We recommend subscribing to our Product Equity Trading Calls section to avail more profitable trading calls.

Today’s supports for the SENSEX are placed at the 20250 and 20100 levels whereas resistances are placed at the 20450 and 20550 levels.

NIFTY:

NIFTY (6117.55) SU—6040—6070 Re—6150—6170. Any sustained close above the 6150 levels will see the index making a move past the highs of 6284 levels registered in the month of October. A break below the 6040 levels will see a decline to the recent lows of 5940 levels.
We recommend buying Chambal Fertilizers. The stock, after taking support at its short term moving averages has seen a smart rally during yesterday’s session and also closed above its downward sloping trendline. This move was accompanied by robust volumes. The RSI indicator on Daily chart is also in buying mode. We recommend buying now & again on dips to 81.50–82 levels for a target of 88 and/or 92 levels with a stoploss placed below 79.80 levels.  We have already recommended buying the stock to our clients at 83 levels.
We recommend subscribing to our Product Delivery Calls section to avail more profitable trading calls.
Today’s supports for the NIFTY are placed at the 6040 and 6070 levels whereas resistances are placed at the 6150 and 6170 levels.

Report has been generated based on the share market tips given by Devang Visaria.