Trading Range Nifty

2850 to 3050

EXPERTS COMMENTS

 Market is still following a very strict range between 2900-2970. Market remains bearish on 3^rd consecutive day. Though Oil & Gas and banking sector shown strength today while reality, automobile and IT sector ended with down trend. Most active put was 2900 and most active call was 3000 so as we have already mentioned that these two figures were most strong resistance and support for coming days. FII'S were not taking much interest in participation in market however they took interest in SBI 1050 put so we can see these levels in coming days. We have found short position formed in NALCO, TCS & Maruti, so we suggest our participants they should not trade in these stock with positive bias.

OPENING TREND

Is it true that our market runs according FII'S mood?

`NO'

It runs according economic & financial strength of country & the global environment

Always Remember :

1.   The World did not stop lending, servicing & consuming, it moved on.

2.   Turmoil in stock market excellent buying opportunity for long term investors. (Expected return 100 to 300-500 percent in 12 to 36 months)

NIFTY FUTURE + BANK NIFTY +CNX IT

: Nifty Future :

On panic watch support level 2850

NIFTY :  Weekly trend decider is 3043. Resistance is 3156 while the major support levels are 2970 2857. Today's resistance 2956 2996 while downside support is 2888 2860. But if sustain continuously above 2928 then can decide positive strategy. Below 2900 free fall.

BSE :  As remain 9300 bull will charge continue. Weekly trend decider is 9974 weekly support is 9759 and resistance is 10315 10529 . Today's resistance is 9646 9725 and support is 9495 9423. If continuously trade above 9574 then opportunity for buying.

CNX IT : Today's resistance is 2223 2261 and support is 2157 2119.

BANK NIFTY :Sharp move resulted profit booking and enjoy. Today's resistance 4996 5063 and major support levels for today are 4895 4828. Shown a good strength on Wednesday .

RELIANCE:
Weekly trend decider is 1342 resistance is 1413 1477 and support is 1278 1208. Higher level resistance 1256 1270, down side support 1229 1216. If breaks 1243 then panic.

RELICANCE CAPITAL: Weekly trend decider 530 weekly resistance levels are 597 635 while support are 492 425. Today's resistance are 561 576 and support 528 510.

SUZLON ENERGY:
Weekly trend decider 57, resistance 63 68, support 51 45. Today's resistance level 60 62 and support levels 55 52. If trade above 57 then opportunity to buy.  

DLF:
Weekly trend decider 286, resistance 334 362, support 258 211. Today resistance is 303 312 support is 286 278. Buy at lower level. Profit booking seen at higher levels.  

BALRAMPURCHINI:
Weekly trend decider 44 resistance 47 51, support 40 37. Today's resistance is 47 48 and support levels are 46 45. If breaks 45 then free fall  

SBI: Weekly trend decider 1267, resistance 1343 1401, support 1209 1133. Today's resistance is 1303 1321 and support is 1260 1235. Free fall below 1252.  

ICICI BANK: Weekly trend decider 456, resistance 500, support 431 387. Today's resistance is 452 463 and support is 423 405. Opportunity to buy but only if trade above 435