Buy-Buy-Buy-Buy

Nifty Hold 2500, 2250, BSE - 8300, 7698

Consider bottom of 2008 and on dip/panic

Buying opportunity.

Target :

Nifty - 2900-2950-3250

BSE 9900-10000, 10945-11000

If Trade and Continue show strength

Nifty 3250 BSE 11000 above

First sign of bear market is over....

NIFTY FUTURE + BANK NIFTY +CNX IT

: Nifty Future :

Rally continue and take advantage

Target - 2900-2920

Buy on every decline

as remain 2500 on closing basis

NIFTY :   Higher level major resistance 3160. Weekly support 2683, resistance 2870 3037, down side support 2516 2329. Keep a stop loss 2500 and decline to best buy. Today support 2550, resistance 2720, thereafter 2780 or above.

BSE :  Today 8722, 8700, crossover 9050, it will move up to 9063, 9223, thereafter one side move. Likely test 9900 in short term. (buy only Sensex stock)

CNX IT : Weekly trend decider 2313 resistance 2466 2612, down side support 2168 2015.
Crossover 2380, target 2450 or above.

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. Over sold counter.

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. (If hold 8000, corrective rally likely but our lower level target intact and remember more and more pain USA in 2009)

Citigroup Failure Imminent

If so Banking System Shutdown Possible.

USA HISTORY OF BANKING FAILURE/COLLAPSED

1933 - 4000 Banks (Maximum no. of Banks)

1989 - 534 Banks.

2008 - 22 Banks.

Citigroup, US second largest banking conglomerate, is on the brink of failure. Stock price already collapsed. If it fails, the largest banking disaster in history, involving $ 2 trillion of assets (Credit Card Port folio - 185 Million Accounts worldwide) which is six times of Washington Mutual Fund. Present Position indicate no buyer big enough in the USA to absorb Citigroup. Nor, it is likely that an internal consortium of banks would want to squander the previous capital that have left on a sinking titanic, the size of Citigroup. In addition, Citigroup had a massive portfolio of credit cards - 185 million accounts worldwide - that felt could be the final nail in its coffin. Even before the most recent episode of the global financial crisis, Citigroup's losses on bad credit cards had surged by 67% from a year earlier. Worse, the number of credit cards 90 days past due was going through the roof, foreshadowing more large losses on the way. All of these weaknesses were detailed in Citigroup's financial statements.

Cause of USA Banking collapsed :

Derivatives are bets made mostly with borrowed money. They are bets on interest rates, bets on foreign currencies, bets on stocks, bets on corporate failures, even bets on bets. The bets are placed by banks with each other, banks with brokerage firms, brokers with hedge funds, hedge funds with banks, and more.

They are often high risk. And they are huge. According to the U.S. Comptroller of the Currency (OCC), on June 30, 2008, U.S. commercial banks held $182.1 trillion in notional value (face value) derivatives.¹ And, according to the Bank of International Settlements (BIS), which produced a tally six months earlier for the entire world, the global pile-up of derivatives, including institutions in the U.S., Europe and Asia, was more than three times larger - $596 trillion.

That was ten times the gross domestic product of the entire planet ... more than 40 times the total amount of mortgages outstanding in the United States ... nearly 60 times greater than the already-huge U.S. national debt.

RELIANCE: .
Higher level major resistance 1250.
Weekly trend decider 1121 resistance 1202, 1251, support 1072, 991. Consider support 1032 on decline buy....Short term target 1250, thereafter more up side.

DLF:     Weekly trend decider 210 resistance 239 279, support 169, 139. Over sold counter......last and final support exit180, thereafter more down side

PUNJ LLOYD : Double bottom formation 140. Weekly trend decider 159, resistance 178 205, support 133 113. On rise sell, with consider resistance 150, 156, once break and trade below with volume 140, real panic will start in this counter, and two close below ultimate target 95 mark. (likely problem with Citi Bank)

LANCO :Weekly trend decider 121, resistance 142 167, support 95. Today resistance 121, down side support exit 110, below more weakness. Close below 103, real panic will start.

BHARTI : Weekly trend decider 623, resistance 670 721, support 573 526. On decline to buy with consider support 610-620, range, hold it will touch 700 mark in short term.

TISCO:  
Today break and trade below 150, non stop target 135 and close below it will touch 110-100.

INFOSYS: Weekly trend decider 1173, resistance 1245 1316, support 1103, 1030. On decline to consider support 1100 and buying opportunity. Above 1200 fantastic up move.

HCL TECH : Weekly trend decider 141, resistance 160 176, support 125 106. Crossover 152, non stop target 165, 167.