EXPERT COMMENTS:

Finance minister's statement regarding government's help in economy stimulation and positive global cues were only the temporary relief for the market. Due to these reasons we can see the lower level recovery, but negative cue from the European market pulls the market down from the upper levels. Selling pressure was seen in index scrips. FII's were the initiator to form short positions. Highest call writing was seen in Nifty 3000 and 2800 call while highest put buying was seen in 2600 and 2500 put. So we can make a Nifty momentum between 2800 and 2500. Most of the major scrips were
showing the negative cost of carry. Reliance capital seems so weak so we advice traders should not raise any long positions even at lower levels. We could see the fresh short positions were formed in SBI, ICICI Bank, Axis Bank and HDFC Bank so we suggest that traders should follow the negative bias in these stocks but with strict Stop Loss

FIIS ACTIVITY :

The most active contracts in FII counter are ICICI 280 put up by 168%, RNRL 35 put up by 158%, IDFC 50 put up by 128%, and Bharti 740 call up by 99%. Total NET BUY / SELL VALUE in the FII's counter is following - In Index future it is 45.82CR, In Index Option it is -54.07 CR, in Stock future it is -97CR and in Stock options it is -0.41CR.

NIFTY :   Monthly trend decider 3053, resistance 2854, support 2106 . Higher level major resistance 3240. Weekly trend decider 2919, resistance 3068, support 2660 2511.
Today resistance 2675, 2700 2732, down side below 2600 and remain below 2577, 2525, 2500

BSE :  Weekly trend decider 10180, resistance 10729 11494, support 9415 8866 Weekly trend decider 9741, resistance 10215 11044, support 8912 8438. Major support 8739. Today it will face resistance 8912, real strength show on above 9236, down side below 8725, likely target 8403, 8350, 8300 (which may turning point and corrective rally started after 6 days fall in the market)

CNX IT : Weekly trend decider 2550. Higher level selling opportunity

BANK NIFTY :
Major resistance 5430.
Weekly trend decider 4900. Selling opportunity at higher level. Close below 4100 target 3800 or below

DOW : Last and final support exit 8000,
thereafter heading towards 7200, close below it will show real panic, hgher level resistance 10000

RELICANCE CAPITAL:   Monthly trend decider 781. Weekly trend decider 623 resistance 668 753, support 538 493. . Below 530 see what happened in this counter. Today resistance 482, 500, down side below 450, non stop target 431, 411.

RCOM Monthly trend decider 242.Weekly trend decider 224 resistance 240 259, support 205 189 .SUPER HOT SELL.. Below 200 no if and but.....Decisively break 195, non stop target 175.

HDIL: Monthly trend decider 136. Weekly trend decider 119 resistance 130 143 support 106 95. Close watch 90 level...... decisively break and trade below real panic will start.

BHARTI : Weekly trend decider 662 resistance 714 777, support 600 547. Keep a stop loss 650 and sell, last and final support exit 600, thereafter real panic will start. Likely test 500 mark.

  BANK OF INDIA:    Monthly trend decider 250 Weekly trend decider 275, resist5ance 286 294, support 268 257 Below 261 looks hot sell , last and final support exit 244, thereafter more weakness.  

ICICI BANK  :   Monthly trend decider 416.
Weekly trend decider 418, resistance 451 509, support 361 328. As remain below 400 on rise selling opportunity. Yesterday heavy short position built up in this counter. Likely test 300-280 mark in coming days.

IDFC  : Monthly trend decider 59. Below 60 sell and cover 50 or below.... FIIS are heavily buying put options.

SAIL:  Monthly trend decider 93. Weekly trend decider 76 resistance 85 100, support 61 52. Below 60 hot sell and cover 50 mark. Two close 50 non stop target 35 +. (long term investors close eye)