Trading Range of Nifty

2700 to 2850

Break out in either side non stop

movement 150 points of Nifty

EXPERTS COMMENTS

The indian market were managed to ended in green after showing a historical volatility during the session. Market gave up their early gains after negative data have been announced. the most crucial event was announcement of quarterly numbers of reliance industry, Investors were keeping their eyes on these numbers. Banking, Oil & gas and IT were showing a good performance. Most active puts were the 2700 and 2600 so we guess that these levels were the strong support for nifty. FII were the net buyer in the Index futures but net sellers in index options. Today fresh long position have been formed in Icici bank, Bharti airtel, Bank of india and CAIRN so we suggest the investors they can carry their long position in these sectors.

FII ACTIVITY

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The most active contracts in FII counter are ZEEL 100 put up by 367%, Ranbaxy 200 put up by 215%, Nalco 180 call up by 203%, and Bharti 600 call up by 110%. Total NET BUY / SELL VALUE in the FII's counter is following - In Index future it is 14.67CR, In Index Option it is -110CR, in Stock future it is -60CR & in stock options 30CR

NIFTY PCR STRATEGY:

Nifty PCR level becomes 0.81 level. Higher level PCR levels were seen in P&B 6.50, BPCL 3, Wipro 2.13, M&M 1.78, and Ambuja 1.53. While lower PCR was seen in Tata com 0.79, HDFc 0.85, Tata motors 0.86, ONGC 0.93 and BHEL 0.97. Highest call activity was seen in 2800 and 2700 call while highest put activity was seen in 2700 and 2600 put.

NIFTY FUTURE + BANK NIFTY +CNX IT

: Nifty Future :

Today break 2660-

non stop target 2610-2570

Today resistance 2720

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 : Lower level major support 2571. Consider 2680, 2680 are a strong support, higher level it will face resistance 2745, thereafter short term movement

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.

From 9410 to 8700, more than 700 points wipe out in 4 trading session, corrective rally expected after initial jerk

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 resistance 2150, down side support 2050, below it will come down up to 2000.

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.

Lower level support range 4000-4100, if hold.. strong bounce back can not be ruled out.

DOW :

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

REL INFRA:

Break and trade below 480

immediate target 466, thereafter free fall.

IBREAL:

Ready to test 85 mark....

RCOM:

Decisively break 165 with

volume, non stop target 150, thereafter...........

SAIL:

If you want to make money - below 70 check what happened, however we are selling mode once break 76 level

TATA POWER:

Looks very bearish.... Last and final support exit 700, decisively break open quantity play for short sell and target 630-600 range in few session.

Higher level resistance Zone

724 --- 50 DMA

TISCO:

Below 192, 182

Our Target 150-146 mark.

PRAJ IND:

Major support range 49-50

decisively break+ close below it will test 40 mark.