EXPERTS COMMENTS

It was already assumed that profit booking will be expected during today's trading session. After more or less flat opening, market gained little bid as investors were keeping there eye on RBI's announcement regarding `interest rate' cuts but soon that sentiment failed to hold the market due to the weak global cues and intense profit booking. significant put buying have been witnessed in Nifty put of 2700 and 2600 strike price so we may assumed that 2600 will be the important support of nifty while immense call writing was seen in Nifty call of 2800 & 2900 strike prise so we may guess that 2900 will be important resistance of Nifty. From last few trading session we are observing that Nifty is unable to cross 2800 so we guess that negative bias will continue till it cross 2800. During today's trading session highest profit booking was seen in Unitech, Infosys & Praj ind. So we suggest the participants to trade in these stocks with negative bias.
However, market may boost due to RBI measures but the full impact may be ascertained towards the end of the trading/closing session of Monday. The move may trigger some short lived positive sentiments with interest rate sensitive sectors like, reality and banking, gaining on liquidity infusion on the economy. On the other hand, world market have already discounted all negative news including the US falling into recession, high unemployment rate and US benchmark Index. As DOW hold 8000 and close above 9000 likely next journey 10000 mark in short term.

OPENING TREND

Will RBI Measures help and boost the sentiment in the market

OR

Market already discounted RBI Measures .

Answer is here......

: Always Remember :

1. The World did not stop lending, servicing & consuming, it moved on. So what next ?

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 :

Consider support 2700, 2665

Higher level resistance 2790-2850

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 2790 and 2865 while downside levels are 2670 2625. Nifty will remain range bound till it cross and close above 2800.

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 9232 9499 and support is 8806 8647.

CNX IT : Weekly trend decider 2360 resistance is 2459 2642 while support is 2177 2079 Today's resistance is 2372 2380 and support is 2242 2209.

BANK NIFTY Today's resistance 4542 4728 and major support levels for today are 4240 4122. Weekly trend decider is 4296 support is 3980 3603 and resistance is 4673 and 4988.

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: .
Higher level major resistance 1200- 1250.
Higher level resistance 1165 1213, down side support 1086. Weekly trend decider is 1108 resistance is 1191 1265 and resistance are 1034 951.
Down side strong support 1050. Close above 1200 buy open quantity.

ONGC :   Weekly trend decider is 675 major support levels are 621 585 while resistance is 710 765. Today's resistance is 676 696 and support is 642 629. Immense profit booking was seen in this counter will remain volatile today. Major support range 600-570.

NTPC :
Weekly trend decider 159 resistance 168 176, support 152 144. Today's resistance 165 170, down side TGT 156 152, If hold 150 then buying opportunity. Massive resistance 165-170.

DLF:    Weekly trend decider 197, resistance 227 252, support 173 143. Today's resistance is 216 229 & support will be 195 187. Higher level massive resistance 222.

HDIL:  Weekly trend decider 85, resistance 101 114, support 72 56. Today's resistance is 95 102, support is 83 79.
If hold 100 mark think positive only, otherwise selling opportunity.

IBREAL: Weekly trend decider 102, resistance 101 114, support 72 56. Today resistance is 112 121 and support is 98 93. Close watch 96 as remain no problem for bull.

TISCO:  
Weekly trend decider 174 resistance 202 221, support 155 127. Today resistance 188 193 down side support is 177 170, 165. Highly oversold counter.(1000 to 150) Investment buying opportunity . Above 195 it will show real strength. Hold 150 it will touch 250 mark in coming days.

SBI:     
Weekly trend decider 1113, resistance 1230 1226, support 1017 899. Today's above 1154, one side move and it will face resistance is 1188 1243 and support is 1099 1065.Trading range 1100 to 1225, lower level buying opportunity. Hold 1000, it will touch 1370 in coming days