Lower Level

Major Support of Nifty 2700

If hold... bounce back

If break + close below =

Bearish trend

Trading range of Nifty

2650-2880

No clear trend of the Market,

Wait and Watch for breakout in either side

FO STRATEGY

The Indian market is ended with the negative note followed by the global market trend. Major underperformed sectors were the Reality sector, Metal, Bank, Consumer durables, power sector, Oil & Gas. FII were taking interest in JP Associate 60 put, SBIN 1080 put, DLF 145 put and Reliance infra 520 put so we can guess the negative trend in these stocks. We have seen fresh short position in following stocks like Icici bank, RCOM, DLF, Reliance capital, and SBI so we suggest that traders can trade in these stocks with negative bias.

FII ACTIVITY:

The most active contracts in FII counter are JP Associate 60 put up by 142%, Rel capital 400 up by 104.20%, SBIN 1080 put up by 96.62%, and SBI 1050 put up by 80%. Total NET BUY / SELL VALUE in the FII's counter is following - In Index future it is 464CR, In Index Option it is 295.57CR, in Stock future it is 270CR & in stock options 40CR.

NIFTY PCR STRATEGY:

Nifty PCR level becomes 1.07 level. Higher level PCR levels were seen in Tata power 195.77, Ivrcl infra 30.23, HDFC Bank 12, GAIL 8.14, and BHEL 2.94. While lower PCR was seen in LT 0.81, Reliance infra 0.92 , Bank nifty 0.93, Tata comm.1 and Grasim 1.17. Highest call activity was seen in 2800 and 2900 call while highest put activity was seen in 2700 and 2800 put.

NIFTY FUTURE + BANK NIFTY +CNX IT

Today support

2691-2700.....

NIFTY :

NIFTY:
Higher level resistance continue 2875.. Today support 2710-2700 range if hold, strong bounce back, higher level hold 2800, time being positive.

WEEKLY: Weekly trend decider is 2815 resistance is 2929 2990 and support is 2754 2640

BSE:

Close above 9410, likely test 9900-10000 range easily. break 9056, higher level it will face resistance 9160, 9270.

WEEKLY: Weekly trend decider is 9218 resistance is 9644 9865 and support is 8997 8570

CNX IT :

WEEKLY: Weekly trend decider is 2184 resistance is 2276 2325 and support is 2164 2042.

Broken support level....... Today resistance 2200.

BANK NIFTY :

WEEKLY: Weekly trend decider is 4352 resistance is 4592 4728 and support is 4216 3975.

Consider support 4200,... higher level heavy selling were seen..... today it will face resistance 4290-4311.

DOW :

Strong support 7500 to 8000... Close above 8500 bull will charge.

RELIANCE:

WEEKLY: Weekly trend decider is 1275 resistance is 1380 1436 and support is 1219 1114.

Today resistance 1300, down side break 1275 and stay with volume, down side target 1251, 1237.... Major support 1200.

RELIANCE POWER:

WEEKLY: Weekly trend decider is 105 resistance is 110 114 and support is 101 95.

Today resistance 102, 104, down side support 98, 96, thereafter it will show real panic.

DLF:

WEEKLY: Weekly trend decider is 173 resistance is 190 203 and support is 160 143.

Sell on rise is a best strategy, down side support exit 144, thereafter free fall. (for smart traders, sell in future and buy call)

RCOM:

WEEKLY: Weekly trend decider is 167 resistance is 179 189 and support is 158 145.

Today resistance 161, 165, down side support exit 154, thereafter further weakness.

BANK OF INDIA:

WEEKLY: Weekly trend decider is 241 resistance is 258 267 and support is 233 215.

Higher level resistance 245, down side break 238, immediate target 230

ICICI BANK:

WEEKLY: Weekly trend decider is 403 resistance is 447 478 and support is 372 328.

Consider support 358 and decline to buy this stock. Higher level resistance 395, 400.

INFOSYS:

WEEKLY: Weekly trend decider is 1280 resistance is 1345 1384 and support is 1241 1276.

Consider support 1190-1200

range and decline to best buy....