Believe it or not

New Bull Market  in 2009

Subject to achieve  First Nifty

 lower target 2200-2000-1800

NIFTY:
  Trend decider of this week are 3013.   Currently as Nifty a strong resistance zone of 3200-3250, surpass of this zone it will test 3450-3500, then 3800 mark, however at current juncture are looks market entered in overbought zone and reversal from the 3200 level can drag down ward and short term supports are 2900-2920 . Fresh long should be avoid, on a decline as long as the Nifty hold 2800 level bull favour. (Major support zone)   Resistance of this week are 3219, 3240, whereas support are 3013, 2903, 2697.    (On correction (may not sharp) and decline to buying opportunity.

Today :     Today resistance 3000, down side below 2956, it will test 2900 mark which is a strong support.  

BSE:   The rally from 8047 to 10127 non stop  and chart indicate that rally likely arrested under 11000 which is a logical target of current rally.  Traders/Investors to be carefully in the week ahead as the prices are overstretched and ripe of correction. The magnitude of this correction if happened are very fast. Over all resistance for the week are 10470, 10825, 11000, support are 9738, 9350, 8651.

Today :     Today resistance  9663 , 9700, down side below 9500, it will test 9350 or below.

CNX IT:    In our previous news letter, we were bullish as remain 1950-2000 hold and lower level buying opportunity, already tested 2408.  At the current level looks time being exhaustion and this is not a good time to go long, best way buy on dips and wait for correction.

Today support at lower level 2200, it must watch out for panic.

BANK NIFTY:
  Strong rally from the lower level (3290)  Over all it will face strong resistance 4550-4600, once close above this level.. more up side.   Traders are advise to on correction/dips go long.    (Excellent Counter for making a fast money rather than Nifty Future)

Today break 4000 decisively it will test 3800, 3770 mark.

DOW    Strong rally from the lower level 6469. Over all rally likely continue and first target 8000, beyond this may test 8800,9000 mark but it should not break and close below 7000 mark in coming days.

:MARKET LEADERS:

RELIANCE:
       Lower level 1495-1500 are a strong support, break with volume and sustained below that level, weakness persisting. Today resistance 1536, 1550.

RELIANCE CAPITAL       Today resistance 346, down side support exit 325, thereafter more weakness.                 

LT :    Today resistance 660, down side below 640, selling opportunity.

ONGC:           Close above 820 first target 867, thereafter more side.. on reversal it will take support 750, 700.     

 :POWER SECTOR:

TATA POWER:
       Keep a stop loss 800 and sell, down side below 752 further weakness.      

NEV LIGNITE           Below 85 selling opportunity.. down side support 80,

SUZLON ENERGY:.        Watch support level 40, break another round of panic.      

REL INFRA:             Today resistance 520, down side support watch 483, whether hold or not…….    

RNRL :           Below 43 target 41, then more down side.

NTPC:      Keep a stop loss 167 buy, first target 226……

: INFRA STRUCTURE/REALITY :

UNITECH:     Keep a stop loss 37 and sell.. down side target 30 mark.

DLF            Today decisively break 163 with volume it will test 151 mark non stop…. Today resistance 170.

JP ASSOCIATES:    Below 77, down side target 73 or below.         

GMR INFRA:  

Today watch the level of 90, below further weakness and it will test 80 mark.

HDIL:        today watch the level of 75. whether hold or not, break with volume free fall       

IBREAL:   Today break 92 with volume further weakness.

HCC:       today support 36, 35, resistance 40 mark.  

LANCO:            today break 140 with volume in will test 131 mark.

PUNJ LLOYD:          Close eye 85 mark…. Further weakness only below that level, otherwise buying opportunity.        

IVRCL INFRA  :        Buy on decline as remain 110 hold.       

: TELECOM SECTOR:

BHARTI:  Hold 599, 591… as remain play for long side only.    

RCOM:           Broken support level.. today support 165, below it will come down up to 160 mark.          

IDEA :
     Watch the level of 46 whether it hold or not….  

 SUGAR SECTOR

BALRAMPURCHINI
         book profit and exit long  below 50 mark.

BAJAJHINDUSTAN:.       Keep a stop loss 48 and sell down side target 44, 42.   

RENUKA SUGAR :           Watch support level 80. break and close below play for short side.     

: STEEL SECTOR :

TISCO:       Today break 190, non stop target 180 which is last and final support of this counter.    

SAIL:     Today support 90, below it will come down up to 87 or below.    

HINDALCO:       Time being below 50 book profit and re enter at lower level only.    

STERLITE   :           Time to book profit.      

:BANKING SECTOR:

SBI:           Today watch the support level 1000, break below further weakness only… higher level it will face resistance 1041, 1052.       

BANK OF INDIA:        Below 220 selling opportunity and it will test 211.  

BANK OF BARODA:
     Today resistance 234, down side support 222, below further weakness.  

PNB  :            Today support 400, 391 mark… higher level it will face resistance 421.    

AXIS BANK:           Today below 390 sell stop loss 401 mark, down side target 381 or below.     

ICICI BANK:          Below 350 avoid long and sell…..

:IT STOCKS:

INFOSYS :      Down side major support 1265…. As hold time being positive.       

TCS:            Below 518 selling opportunity.          

HCL TECH:         Decisively crossover 106 with volume and close above play for long side.. Big move on the card any time.   

AUTO SECTOR
 

MARUTI:
       750 are a major trend decider and it should not break.. otherwise selling opportunity.   

M&M        Today decline to buy……..more steam left in this counter.  

TELCO:         Below 168 down side target 156, 148 expected.

:PHARMA SECTOR:

RANBAXY:
     Two resistance 160, 172 and sell this stock.

 :OTHERS :

GVK POWER :Above 20 target 21 22, then 24, 25  expected.

AD LAB :        Keep a stop loss 150 and play for long.  

PRAJ   :   Keep a stop loss 49 and buy for target 70 mark.

CAIRIN INDIA :         today support  178, below weakness and it will test 169 mark.   

CHAMBAL FERT.     It will face resistance 45.

NAG. FERT:    Higher level resistance 20 mark.