Technical Recovery continue

Nifty hold 4600

Crossover Yesterday High BSE 15998, NSE 4815 more up side and short term target 16500 + 5050. Break Yesterday low (15362 only weakness +)

BSE - 16457-----Below ..15332- (Monday low 15362 and strong bounce back were seen)

Higher level strong hurdle Nifty 5190…5368.

BSE Major hurdle 16250

Cross and close bull will upper hand

Close below 15332, non stop target 14500, 14300 which is aggressive buying zone

_{NIFTY FUTURE :}

_{As expected market open with down side gap and due to highly over sold, technical bounce back and short covering were seen and hold Nifty 4600. Strong buying were seen in Essar Oil, Bank Nifty, Educom Computer, REL, SAIl and added some open intrest, whereas some short covering were seen in Bajaj Auto, Nag. Construction. On the other hand some more shorting were seen in Bank of India, LT, IDFC, Rel Capital and shed some open interest.}

_{As remain Nifty future hold 4600 up move continue in short term today support 4726, 4654.}

For patience investors : Panic catch and hold time period 12 to 24 months for new high…..

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

Nifty: Today support 4745, break below it will come down up to 4676, upper side crossover 4815 immediate target 4905 .

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.

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

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. Yesterday check u turn from the level of support level 2125. today support 2228 crossover 2290 immediate target 2330, 2350.

RCOM : Consider 490 are a strong support. Today crossover 568 with volume it can move up to 580 or above down side strong support 547, 540. short term target 609.

RPL : Today support 160, crossover 170 it can move up to 175, 178, thereafter do not remain short…..

R POWER : Non stop slide from 460 to 310…. Corrective rally on the card from over sold zone. Yesterday smart short covering were seen in FO segment. Today support 321, 330 hold up move continue. Cum Bonus candidate and take a few risk and buy. Risk reward ratio is favour of Buyers.

SAIL : Monthly resistance 232 Today support 232, crossover 240, it can move up to 250. keep a stop loss 222 for long position.

ESSAR OIL : Monthly support 228….. Looks good, decline to best buy with consider support at lower level 200.

SATYAM COMPUTER : Higher level major hurdle 441-445, successfully cross and close positive only. Close eye 403 whether hold or not, break below immediate target 390, thereafter more weakness…

INFOSYS : Monthly resistance 1569. Down side 1400 are a good support, if hold some bounce back

NTPC Monthly resistance 203…210..

GMR INFRA : Monthly resistance 169. Down side major support 135, break and trade below more weakness only….. Yesterday hold 135 and strong bounce back were seen.