Today Support

BSE 8600 - BSE 2650

Break and trade below,

another round of panic.

Corrective Rally ?

Play short future+Buying Puts+Sell Call

EXPERTS COMMENTS

Indian market was trading under deep red zone followed by global markets. The most underperformed sectors were the Banking, metal power, and realty and consumer durables. As yesterday the power sector was so highlighted but today we have seen an intense selling pressure. Nifty is closed around its support level so be careful to decide any strategy. FII were the net seller in the entire market segment. Fresh short position has been formed in Reliance capital, DLF, Bharti Airtel, Sterlite and Icici Bank so we suggest the traders they should not make any long position in these stocks.

FII ACTIVITY

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The most active contracts in FII counter are Icici bank 340 put up by 239%, Ster 250 put up by 186%, Ranbaxy 200 put up by 152%, and Bharti airtel 580 put up by 138%. Total NET BUY / SELL VALUE in the FII's counter is following - In Index future it is -122CR, In Index Option it is -243CR, in Stock future it is -90CR & in stock options -1.7CR.

NIFTY PCR STRATEGY:

Nifty PCR level becomes 0.81 level. Higher level PCR levels were seen in M&M 5.33, BPCL 2.72, Wipro 2.15, Ambuja cement 1.75, and Ivrcl infra 1.50. While lower PCR was seen in Reliance infra 0.76, LT 0.77, NTPC 0.80, HDFC 0.86 and Tata motors 0.88. Highest call activity was seen in 2800 and 2700 call while highest put activity was seen in 2700 and 2800 put.

NIFTY FUTURE + BANK NIFTY +CNX IT

: Nifty Future :

On panic close eye 2650

If hold, likely reversal

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 break 2790, down side target 2758, thereafter immediate target 2725 which is a strong support zone.

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 9160, further up move only above that level, below 9033, likely test 8940, thereafter.

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.

RELIANCE:

: Today result day :

Lower level last and final support exit

1067 then 1021

HDFC LTD :

Super hot sell..

Below 1337 selling will be intensified

TATA POWER:

Today resistance 726, 740, down side below 700 looks bearish and selling opportunity.

PUNJ LLOYD:

Below 105 , do not touch this stock

Yesterday smart player sold 10 lacs in future.

TELCO:

Higher level two numbers in mind

145, 156

As remain below it will test 125.