Today Nifty Trading Range

2800 to 2900

EXPERTS COMMENTS

Market was following a very narrow range between positive and negative range through the session as investors were waiting Obama's swears as next president of US. The reality metal oil & gas and capital goods were the most outperformed sectors. As we see the nifty PCR is almost same as previous day's figure, but still 2800 and 2900 calls and 2800 and 2700 puts were so active. FII's trend was so confusing today on one hand they were net seller in stock future and in index future and on other hand they were net buyers in index options. Fresh long position has been formed in Suzlon, Allahabad bank, HDIL and JP hydro so we suggest the participants they should not make any short position in these stocks.

FII ACTIVITY

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The most active contracts in FII counter are JP hydro 33 call up by 267%, JP Hydro 30 call up by 134%, TCS 440 put call up by 91%, and allahabad Bank 55 call up by 82%. Total NET BUY / SELL VALUE in the FII's counter is following - In Index future it is -1016.20CR, In Index Option it is 283CR, in Stock future it is -26CR & in stock options -48CR.

NIFTY PCR STRATEGY:

Nifty PCR level becomes 0.94 level. Higher level PCR levels were seen in Ivrcl infra 20.71, BPCL 2.58, Wipro 2.48, NIIT TECH 2, and Ambuja 1.78. While lower PCR was seen in Reliance infra 0.77, LT 0.81, HDFC 0.85, BHEL 0.98 and ONGC 0.99. Highest call activity was seen in 2800 and 2900 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 :

Today lower level buying opportunity with consider support 2790-2800 range.

 Nifty Future Weekly Analysis

Bull and Bear fight continue on the play ground of Nifty Future and almost covered entire losses of early trade and closed with a smart gain. The sharp recovery on Friday due to short covering and some how fresh built up in long position narrow down the gap between the Nifty Future and spot price. However, such type of rally was not accompanied with very high volume. Option data also indicate side movement in coming days. Consider Nifty future strong support range 2750-2700 and higher level resistance 2950. Any positive news/action like price cut in fuel, RBI Monterey Policy would give a boost to the market.

NIFTY :

Monthly: Trend decider is 2881 and resistance is 3187 and 3416 and support is 2653 and 2347.

Weekly: Trend decider is 2942, resistance is 3074 3278 and support is 2738 2606.

Hold strong resistance 2875. Today support 2820, 2800, Higher level it will face resistance 2900 and profit booking expected.

BSE:

Weekly: Weekly trend decider 9227, higher level resistance 9508 9663, down side support 9042 8761.

Consider Resistance 9413, thereafter likely test 9900-1000 mark.

Today resistance 9400-9500 range, down side support 9273, below further weakness. Watch the level of 9162 whether hold or not.

CNX IT :

Monthly: Trend decider is 2494 and resistance is 2916 and 3641 and support is 1796 and 1347.

Weekly: Weekly trend decider 2180, higher level resistance 2313 2435, down side support 2057 1924.

Trading range 2100 - 2200.

BANK NIFTY :

Monthly: Trend decider is 4945 and resistance is 6091 and 7183 and support is 3854 and 2707.

Weekly: Weekly trend decider 4633, higher level resistance 4823 5065, down side support 4391 4201.

Small trading range wait and watch....concentrate on large cap stocks

DOW :

Closed below 9000, which is a bearish sign, close below 8000 further weakness and likely test 7500 mark immediately. Higher level resistance 9500.

LT:

Monthly: Trend decider is 762, resistance is 854 936 while support is 680 588.

Weekly: Trend decider is 706, resistance is 741 766 and support is 681 686.

Keep a stop loss 680 on closing basis and decline to best buy. Crossover 735 fantastic up move can not be ruled out.

TATA POWER:

Monthly: Monthly trend decider is 716, resistance is 806 862 and support is 660 569.

Weekly: Trend decider is 755, resistance is 799 826 and support is 728 683.

Down side 700 are a major support hold time being bull move continue. Hold 781 target 800 or above.

JP ASSOCIATES:

Monthly: Monthly trend decider is 76 resistance is 100 116 and support is 60 36.

Weekly: Trend decider is 66.7, resistance is 71 76.5 and support is 61.5 60.

Higher level resistance 74-75 remain below short term weakness continue. Close eye this stock and be cautious at higher level... heavy supply on the card.

GMR INFRA:

Monthly:
Trend decider is 69, resistance is 87 95 and support is 60 43.

Weekly: Trend decider is 72.7, resistance is 78.4 84.1 and support is 67 61.

Strong resistance 78, thereafter target 81, 85, down side as remain hold 65.. bull move continue.

HDIL:

Monthly: Monthly trend decider is 126 while resistance is 183 237 and support is 73 16.

Weekly:
Trend decider is 101, resistance is 108 114 and support is 95.6 89.

Today support 107,higher level resistance 113-114, thereafter target 118

TISCO:

Monthly: Trend decider is 200 resistance is 253 291 while support is 163 109.

Weekly:
Trend decider is 204, resistance is 217 229 and support is 191 178.

Consider support 190 and resistance 215... break out this trading range, sharp movement in either side hold 190 likely test 250-260 mark once again

BANK OF BARODA:

Monthly: Trend decider is 267, resistance is 302 322 and support is 248 213.

Weekly:
Trend decider is 250, resistance is 277 313 and support is 213 186.

Higher level sell only with consider resistance 248-250 range. Big fall on the card.