NIFTY FUTURE + BANK NIFTY +CNX IT

: Nifty Future :

Decisively break 2850,

real panic will start

EXPERT COMMENTS:

Nifty PCR level is showing decreasing trend as it is coming to the 1.16 level, it means that more call activity was seen then put activity, but it doesn't favor that bearish trend is over because call buying was not found call writing was seen in nifty. As highest put buying was witnessed in 2900 & 2800 and highest call writing was seen in 3200. If we believe in those figures then we can presume that nifty may show significant support of 2900 & 2800. It also restricts in the momentum of Nifty between 2800 to 3200. FII's are booking profit and raising fresh short position in both index and stock future. As higher level selling was witnessed in Reliance infra, Reliance and Jindal steel so we can suggest that traders may raise shorting in these scrips. While positional traders should stay away from the market if they do so then should follow strict Stop Loss.

NIFTY :    Monthly trend decider 3053, resistance 2854, support 2106 . Higher level major resistance 3237. Weekly trend decider 3023, resistance 3187 3401, support 2809,2646. Today resistance 2990-3000, down side below 2920 target 2850, 2811.

BSE :  Weekly trend decider 10180, resistance 10729 11494, support 9415 8866. Lower level down side first support 9630, break and trade below target 9475,9200.

CNX IT : Hold 2500 bull will charge continue and target 2950. .

BANK NIFTY :
Higher level selling opportunity.

ONGC :   Monthly trend decider 762. Weekly trend decider 742, resistance 806, 873, support 676 , 611. Unable to close resistance level 830 and started down ward journey. Today resistance 756, down side support exit 700.

REL INFRA :  Monthly trend decider 545.
Short sell stop loss 590. . Weekly trend decider 534 resistance 614, 670, support 478, 397. Keep a stop loss 600 and sell this stock, down side target 550, 510 in few session.

NTPC : Monthly trend decider 146. Weekly trend decider 149, resistance 157, 163, support 143 135. Break 149, non stop target 145, 143, thereafter more weakness

DLF:   Weekly trend decider 275, resistance 315 319, support 241 202. It will face resistance 275, down side below 265, immediate target 249 or below.

  STERLITE :  
Monthly trend decider 298 Higher level sell only... FIIs are very bearish in this counter.  

BANK OF INDIA:       Monthly trend decider 250 Weekly trend decider 268, resistance 296 321, support 243 215. On rise sell.... Below 274 with volume short term weakness on the card.

CHAMBAL FERT : Watch the support level 43, break and close below, non stop target 37 expected.

  RPL   
Monthly trend decider 100 Weekly trend decider 87 resistance 95 108, support 77 69. Below 80 more down side.   IDFC  : Monthly trend decider 59. Looks good. Below 65, down side target 60 or below.