Nifty Cross and Close 3110-3150

Bulls will control the market.

Nifty Above 2810

BSE Above 9162

Bull favour - Target .......?

More Strength Above

10188 (BSE)-3110(NSE)

EXPERTS COMMENTS

Market ended with nominal gains as profit booking was expected from higher lvels. Though it was a good session and BSE crossed 10,000 mark but did not sustain at this level. Realty sector was shown a good movement. FII were the net buyer in index future but seen profit booking in stock future. Nifty PCR level become increased up to the 0.93 mark as significant put activity was seen. Fresh long position has been form in Chambal, IVR Prime, Rajesh Export, FSL, IFCI and RIIL so we suggest the participants they shoukd trade in these stocks with positive bias.

Nifty Analysis.

Nifty showing continue remain strong and significant gains of last week. For smart traders buying should be done on intra day dip and panic situation, however higher level it will face strong resistance 3150. Decisively cross and close above next target 3250 which is major pivotal point of current bear market and need to watch cautiously. On the other hand for smart/swing traders, nifty break 2975-2950 exit your long position and get out the market. Over all the trend is up so there is no selling in the market, sell should be consider after breaking a major support level, till then decline to buying opportunity only. Play with trend.

OPENING TREND

NIFTY FUTURE + BANK NIFTY +CNX IT

: Nifty Future :

Today resistance 3110-3150

Today support 3020, 2995

If reversal selling opportunity,

Close above 3150 - Bull will control

NIFTY :  
Today support 3021, 2997, crossover 3080, immediate target 3110 and hold 10 minutes with volume more up side on the card. Close above 3150, it will move up to 3240.

BSE : 
Today support 9900, crossover 10070 target 10188, thereafter more up side. Consider support 9162 and play for long target 11564, thereafter more up side. Above 10188 it will show more power and likely test target 10945

CNX IT : Today below 2250, down side target 2200 or below, higher level resistance 2350, 2352 (close above trend will be change)

BANK NIFTY :
Decline to buy only, as remain 4715 bull move continue and first target 5300, 5512.

DOW INDEX : Above 9000 over all positive and target 9500-9600, close below 8000, panic in the USA market and expected very bad news.

RELIANCECAPITAL:  On decline to best buy with consider major support 500, hold target 619, 680 in coming days. Today resistance 572, 580, 596.

ONGC:  On decline to buy with consider support 670, as remain positive bias in this counter, crossover 690-695 it will more up side. Lakshman rekha 742. If reversal down side target 650-600  

SUZLON ENERGY:. Strong reversal from the major resistance level 75, which is a bearish sign. Today resistance 67, down side last and final support exit 60, thereafter more selling pressure. (classic example of Sell on News on Friday).  

GMR INFRA:   Watch the resistance level 80.(see what happened above 80 on Friday) Buy and Buy only buy....ultimate target 95 in coming days.  

BHARTI:
Below 699 selling opportunity, down side support 675, 665. For long stop loss 665 target 900 mark in coming days.  

AXIS BANK: Higher level major resistance 562.

ICICI BANK:  Ultimate target 500 mark.

  CHAMBAL FERT:
Accumulation of the stock from lower levels. Watch 43-44.
IDFC, NAG. FERT. IFCI : Also looks good.