Crossover Friday High ONLY.

More up side...............

Down side gap opening but likely take support at lower level.....

WHAT TO EXPECT IN THE MARKET

Our market continue looking bearish and trading below 200 daily moving averages. US Sub Prime Issue, Rise Inflation, Higher Crude Price (110 US $ per barrel) and some negative proposal of Budget 2008 will continue drive the market sought ward journey.

However Indian economy are very strong looking to other developed and other emerging market but we can not be ignore the global factors.

There are sellers at every higher level and it may continue but no body knows what is bottom of the market. Short term traders are advised to stay away time being but long term investors with horizon 12 to 24 months start buying in small lots on panic/decline only Index/Large Cap/front line Blue Chip stocks which is available at quite lower and try to build their equity portfolio in phased manner and must avoid mid cap stocks.

1. Consider Down side BSE 15332 and NSE 4448 are a strong support and any close below looks very bearish and down side target 14800,14500/ 4050-4000 which is a strong buying zone. Higher level continue it will face resistance 17200-17500 / 5000-5100. close above these level first sign of trend reversal but final confirmation only above 18137 / 5400-5500.

NIFTY FUTURE :

Today support 4622 break below more decline, today resistance 4690.

Every decline valuation are attractive and tempting to buying, but until or unless technical cycle will not complete best way to avoid. More server correction in coming days and wait till the buying opportunity emerged.

Please watch monthly level and decided your trading strategy in the month of March... Trade below bearish and trade above bullish.

Nifty: Today support 4704, 4700, 4649 crossover 4760 immediate target 4800.

Nifty Monthly : On monthly basis strong hurdle 5190, 5368 close above only think trend reversal only, down side remain below 4836, short term target 4450 in the month of March 2008. ( Market may bottom out April, thereafter one side move )

BSE : Broken 16457, now down side target 15332 short term. As remain below 18137 down side target 15876, 14365. Today support 15629, 15461, higher level it will face resistance 15928.

BSE ( Monthly) On monthly basis strong resistance 17643, remain below down side target 16392, 15206, higher level it will face resistance 18200-18500.

CNX IT : Lower level watch the support level 3456.

BANK NIFTY : Remain below 7100, down side target 6000 +. Today break 6946 free fall on the card.

REL Monthly resistance 1705. Down side major support of weekly and monthly are 1200. Last half an hrs fantastic buying were seen, today close eye on panic. Today support 1291 - 1280...

Reliance . Monthly resistance 2446, three close above, think trend reversal only. Down side major support weekly and monthly chart looks 2100-2125 and close eye these level, whether hold or not. Today strong support 2298, below only weakness. Buy every decline until or unless it will not close below 2125. close below non stop target 2020, 1750 +.

POWER GRID : Keep a stop loss 90 and buy for target 100 mark in few session.

SAIL : Today support 198, below avoid buying crossover 205, target 208, 215. Sustained above 205 non stop target 215.

JP ASSOCIATES : Monthly resistance 300 Next up move only above 240 if sustained with volume......today support 231 below only weakness.

ONGC : On decline to best buy with consider stop loss 921 for long position. Today support 995.

INFOSYS : Maintained short position 1601. below 1400 selling continue. Higher level sell only.....

TCS : Below 905 weakness continue... sustain below 840 down side target 725. today resistance 828, 840 and sell only..........

ICICI BANK : Monthly resistance 1110.... Down side major support 810-790 . Brake and trade below another round of panic and play for short sell. Today support 862, higher level it will face resistance 900......

RCOM : Consider 490-500 are a strong support. Yesterday taken support 490 and up move started.. Today crossover 523 fantastic up move only, down side support below 500 exit your long position.

TCS : Below 905 weakness continue... sustain below 840 down side target 725. today resistance 828, 840 and sell only.......... Stop loss 830 for short position.