Corrective Rally

Will face resistance

Nifty2800-2810

FO STRATEGY

Markets were ended with handsome gains though IPP data's were announced and declared slow growth but does not affect market movement. The market was boosted by strong support of Asian and American market. In FNO segment most active calls were 2800 so we may guess that 2800 will be the good resistance of nifty while 2700 level may act as a good support level as 2700 put were so active. FII were the net buyer in index future and in stock future while net seller in index option. FII took significant interest in Reliance 1230 call, Reliance 1260 call, and Reliance 1290 call so we may see good movement in Reliance in coming days. Fresh long position has been formed in HDFC Bank, ICICI Bank, NTPC & Axis Bank so we suggest the participants they can carry their long position in these stocks.

FII ACTIVITY:

The most active contracts in FII counter are Reliance 1230 call up by 430%, NTPC 185 call up by 419%, STER 250 call up by 395%, and Reliance 1260 call up by 357%. Total NET BUY / SELL VALUE in the FII's counter is following - In Index future it is 230CR, In Index Option it is -145CR, in Stock future it is -202CR & in stock options 24CR.

NIFTY PCR STRATEGY:

Nifty PCR level becomes 0.74 level. Higher level PCR levels were seen in HDFC 5.57, BPCL 2.50, India infoline 2, WIPRO 1.90, and Ambuja 1.57. While lower PCR was seen in Nifty 0.74, Ivrcl infra 0.79, Tata motors 0.78, NTPC 0.85 and Infosys 1.09. Highest call activity was seen in 2800 and 2700 call while highest put activity was seen in 2700 and 2800 put.

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 :

Two major hurdle

2777, 2797

Above more short covering.

NIFTY :

WEEKLY:
Weekly trend decider is 2736 resistance is 2810 2943 and support is 2604 2529.

Today support 2755, 2710, higher level it will face resistance 2777, crossover target 2813, thereafter .

BSE:

WEEKLY:
Weekly trend decider is 8905 resistance is 9178 9683 and support is 8400 8126.

Today hold 8789 positive bias, crossover 9021, target 9150, 9170. Higher level major resistance zone 9410-9420 range

CNX IT :

WEEKLY:
Weekly trend decider is 2104 resistance is 2162 2258 and support is 2008 1950.

Hold yesterday low 2090 short term positive.

BANK NIFTY :

WEEKLY:
Weekly trend decider is 4251resistance is 4453 4823 and support is 3881 3679.

Strong move were seen on yesterday, crossover 4215 and sustained above that level, bullish break out on the card , higher level it will face resistance 4250, thereafter over all buying, lower level support exit 4100.

DOW :

Below 8000, non stop target 7450. Higher level resistance 8500, major up move only above that level.

RELIANCE:

WEEKLY: Weekly trend decider is 1199 resistance is 1292 1427 and support is 1064 971.

Today support 1210, higher level it will face resistance 1249, 1275... cautious approach at higher level and selling opportunity

ONGC:

WEEKLY: Weekly trend decider is 654 resistance is 671 695 and support is 629 612.

On rise selling opportunity with consider resistance 690-700 range, lower level support 600-620, thereafter further weakness and likely test 540 mark.

NTPC:

WEEKLY:
Weekly trend decider is 180 resistance is 187 194 and support is 173 166.

Higher level resistance 192, crossover non stop target 198, 200, if unable to cross this level selling opportunity.

RELIANCE POWER:

WEEKLY:
Weekly trend decider is 100 resistance is 103 108 and support is 95 92.

Consider resistance 105-106 and sell this stock.

SAIL:

WEEKLY:
Weekly trend decider is 75 resistance is 80 90 and support is 66 61.

Major resistance 99.... Higher level resistance 76-77, last and final support exit 70, thereafter free fall.

ICICI BANK:

WEEKLY: Weekly trend decider is 380 resistance is 428 493and support is 315 367.

Consider strong resistance 390-400 mark ... if reversal sell only.......

CHAMBAL FERT :

WEEKLY: Weekly trend decider is 37 resistance is 36 42 and support is 34 32.

Today selling opportunity at higher level... major resistance 40, 43 and its not easy task to bear will permit this laxman rekha.