NIFTY FUTURE + BANK NIFTY +CNX IT

: Nifty Future :

Decline to buy as remain 2850

EXPERT COMMENTS:

Today market has shown a very narrow trading range, where alternate selling pressure and recovery had been witnessed under this range followed by the global cues. Nifty PCR level becomes increased as 2800 and 2900 put were active. During afternoon session market recovered little bid as announcement of positive inflation data. FII's were the net buyers in index futures, stock futures and stock options. In index options they have took interest in RPL call of 100 strike price and JPAssociate call of 100 strike price so we can assume that we can see these levels of following scrips in coming days. Today we have seen the activeness in "R" group in both futures and means participants are trading with positive bias in these stocks, Today fresh long position has been formed in RNRL, RPL, GMRINFRA , HDIL and JP Associate so we suggest traders can trade in these stocks with positive bias.

NIFTY :  On going Rally Major resistance 2835. Weekly trend decider is 2706. Resistance is 2848 2985 while the major support levels are 2579 2444. Today's resistance 2956 and 2992 while downside levels are 2872 2825. Hold 2750 bull move continue and short term target 3000-3250.(close below 2850 trend reversal only)

BSE :  As remain 8300 bull will charge continue. Weekly trend decider is 8924 weekly support is 8508 8051 and resistance is 9381 9798. Today's resistance is 9780 9915 and support is 9475 9305. Close above 10000, non stop target 10945.

CNX IT : Weekly trend decider 2360 resistance is 2459 2642 while support is 2177 2079 Today's resistance is 2415 2440 and support is 2352 2314.

BANK NIFTY . Weekly trend decider is 4296 support is 3980 3603 and resistance is 4673 and 4988. Today's resistance 4607 4665 and major support levels for today are 4457 4365. Showing the indication of short term buying opportunity. Today close eye.

WORLD MARKET

DOW : Consider support 8000, hold positive, close above 9000, more up side.

NASDAQ : Hold 1300 positive and corrective rally continue.

S&P 500 : Hold 800, up move continue.

RELIANCE: .. Weekly trend decider is 1108 resistance is 1191 1265 and resistance are 1034 951. Break out stocks and buy. Looks hot and buy ULTIMATE target 1370, thereafter 1500 may possible. Higher level resistance 1306 1354, down side support 1202.

RELICANCE CAPITAL:     Weekly trend decider 442 weekly resistance levels are 477 509 while support are 410 375. Everybody are waiting forbreakout, thereafter 10 to 20% sharp move. (but we are long with stop loss 400)

SBI:   Weekly trend decider 1113, resistance 1230 1226, support 1017 899. Today's resistance is 1225 1252 and support is 1168 1138.v Laxman rekha 1200-1225, if sustained with volume real strength show. Any time bullish break out.

RNRL: Weekly trend decider 41, resistance 45 48, support 38 34. Today's resistance is 61 68 and support is 44 34. Hold 51 one side move continue.

IBREAL: Lakshman rekha 124-125, thereafter short term target 165 mark. Looks hot and buy.

HDIL:  Buy and buy, above 113 target 125, thereafter more up side.

RPL    Ultimate target 100 mark. No if and but.

JP ASSOCIATES: Hot favourite of FIIS, slowly and study they are accumulating and likely sell 95-100 range.

  SUGAR STOCKS

RENUKA SUGAR, BAJAJ HINDUSTAN, BALRAMPUR CHIN

Looks good.....