Tuesday, September 23, 2008

Bearish opening but

cover from lower level

Nifty Break 4200,

further weakness

Nifty Strong Hurdle -

4302 (50D),4350 (39D)

(yesterday high 4303)

NIFTY : Today resistance 4342, 4380, down side below 4200, immediate target 4182, 4140. Higher level profit booking continue.

BSE : Today resistance 14050, down side below 13910, down side target 13868

CNX IT : Higher level resistance 3700.

BANK NIFTY : Major resistance 6600-6700, higher level play for short side is a best strategy.

OPEN INTEREST ANALYSIS

Highest OI with prise rise the main scrips are DCHL up by 56.16%, Tulip up by 49.35%, Akruti up by 10.19% & KSK up by 7.53%.In Option Stock tata com up by 900%, DLF up by 237%, ONGC up by 157.14%, Sesagoa up by 125%. In case of option index Nifty pe @ 4850 was up by 250%, Nifty pe @4300 8.75%. The highest OI in all over the scrip was Nifty ce @4500 down by 0.85%, Nifty ce @4600 down by 2.70%, Nifty pe@ 4200 up by 14.86%.


SUZLON ENERGY: Below 220 just check what happened, now further support 190, break below down isde target 180 or below.

UNITECH: Higher level massive resistance 135-150. Two close above change the trend of this counter only. Down side support 115-112, close down side target 100 mark. Below more weakness. Today resistance 135.

PUNJ LLOYD : Today resistance 301, down side break 290, more weakness and target 280, 275 which is a major support area

BHARTI: Keep a stop loss 780 and buy for target 850 in short term.

RELICANCE CAPITAL: Short term support 1200, higher level resistance 1350-1365, if reversal play for short side, close below 1200 weakness on the card.

RCOM: As remain below 380-385 super hot sell....


BANK OF BARODA :Will it touch 290-287 in coming days and start buying.


BANK OF INDIA: Buy above 294 with stop loss 280 target 300, 312.

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