NIFTY FUTURE + BANK NIFTY +CNX IT

: Nifty Future :

Rally continue and take advantage

Will face resistance 2900-2920

If reversal - likely test new los

If Cross - Next target 3200-3250

EXPERT COMMENTS:

Nifty PCR has surprisingly increased from 0.62 to 0.68 levels as significant unwinding seen in the in the money put option. Higher call activity was seen in 2700 and 2800 call while Higher put activity was seen in 2600 and 2500 strike price. From above mention figures we can decide the nifty momentum between 2800 at upper level and 2600 at lower level. The major index scrips were responsible to pull the indices to upward and at the same heavy build up was seen in 2800 and 2900 call so we suggest that market will remains on rise mode. Immense fresh long position was seen in Reliance Capital, NTPC, ICICI Bank, and SBI so we suggest that traders should trade in these scrips with positive bias. Positive cost carry was seen in Bharti Airtel, ABB Ltd and century TETILE ..

FIIS ACTIVITY :

The most active contracts in FII counter are IDFC 45 put up by 420%, ONGC 720 call up by 400%, NTPC 150 call up by 390%, and NTPC 160 call up by 290%. Total NET BUY / SELL VALUE in the FII's counter is following - In Index future it is 243CR, In Index Option it is -1.84CR, in Stock future it is -39CR & in stock options -2.34 CR.

NIFTY :   Higher level major resistance 3160. Weekly support 2683, resistance 2870 3037, down side support 2516 2329. Corrective rally continue. Today support 2650, It will face resistance 2745, sustained above target 2824, 2855.

BSE :  Today support 8500,Corrective rally will face resistance 9320, thereafter non stop target 9900-10000.

CNX IT : Weekly trend decider 2313 resistance 2466 2612, down side support 2168 2015.
Above 2350 positive bias.

BANK NIFTY :
Major resistance 5430.
Weekly trend decider 4168, resistance 4364, 4378, support 4154 3958. Keep a stop loss 4000, time being and play for long. Close below exit your position and stand short side.

DOW :
Consider Down Major support 8000, described as negative, indicating further weakness to the down side and we are looking down ward up to 6600-6700.

RELICANCE CAPITAL:     Weekly trend decider 483, resistance 562, 681, support 364. Highly over sold counter and take advantage. Hold 400 target 481, 529 mark in few session.

RELIANCE: .Higher level major resistance 1250.
Weekly trend decider 1121 resistance 1202, 1251, support 1072, 991. Today support 1100, higher level target 1194, 1204, thereafter sharp up move can not be ruled out

REL INFRA : 
Weekly trend decider 476, resistance 537 584, support 429, 368. Looks hot. Above 490, first target 515, thereafter it will touch 570, today support 470.

NTPC :
Weekly trend decider 145, resistance 160 168, support 137 123. Looks and strong comeback from the lower level. Keep a stop loss 145 on closing basis and buy, likely target 160, 165 170 in short term

PUNJ LLOYD : Weekly trend decider 159, resistance 178 205, support 133 113. Keep a stop loss 140 and buy, first target 156, thereafter more up side.  

ICICI BANK  :    Weekly trend decider 348, resistance 390 442, support 296 254. Above 350,catch if you can.

RCOM Monthly trend decider 242. Weekly trend decider 201 resistance 224 245, support 180. 157. Today support 200, higher level remain above 216-217 range, it will test again 240-250 range.

  TISCO:  Consider support 150, if hold likely test 185 mark, thereafter more up side, break and trade below 150, non stop target 135 and close below it will touch 110-100.

SBI:    Weekly trend decider 1137, 1252 resistance 1304, support 1085 969. Today support 1160, Crossover 1210 target 1250-1270, thereafter more up side. Above 1250 target 1365. If unable to cross and close above 1270, strong chance of reversal.