Trading Range of Nifty

3500 to 3750

Below 3500 - Exit your long & Play for short

Above 3750- Play for long ......

Intra day support of

Nifty 3580

NIFTY FUTURE + BANK NIFTY +CNX IT

Nifty future :

The may contract price dropper significantly whereas open interest increased 26 lacs shares, which indicate unwinding of long positions and build of Fresh Short position in the contract.

Today if break 3615, further weakness and it will test 3580 mark, higher level hold 3660, it will show only power.

Bank Nifty :

Higher level selling opportunity.

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NIFTY :

Today Weekly Trend Decider 3450.
Today resistance 3650, 3690, down side support 3600, below it will test 3580 which is major support and require to close eye.

Short Term Trend : .....
Next Target : 3750 - achieved
Trend Reversal : 3500

BSE:

Today
Key trend decider of this week are 11285.
Consider current rally maximum up side 12500...........Today resistance 12050, down side below 11899, likely test 11668 and 11430. Lower level buying opportunity.

Short Term Trend : Up
Next Target : 11850-12000(achieved) now 12500
Trend Reversal : 11430

CNX IT

Key trend decider 2720...... Wait and watch, higher level selling opportunity

Short Term Trend : Up.
Next Target : All target achieved.

Trend Reversal : 2562

BANK NIFTY:
.

Key Trend Decider 5115 . Today resistance 5600 and selling opportunity, lower level strong support 5200 +.

Short Term Trend : Up
Next Target : 5500-5800
Trend Reversal : Close below 5200

DOW :

After a sharp down ward jerk, strong movement were seen in Dow and recovered to end with a mild loss. Presently small trading range between 755 to 8100 and struggling to find direction in either side. A break out of this range should set the intermediate term direction for this index and rest of the global equity indices too. Close above 8100 heading towards 9000 + in short term

Short Term Trend : Up and waiting breakout
Next Target : 8500-9100
Trend Reversal : Close below 7500

DERIVATIVES DIARY

On higher level, sharp unwinding of long and some counter short build up were seen on Wednesday trade. Reliance Industries adding 6.97 lacs, ICICI Bank adding 17 lacs shares, DLF added 9.25 lacs shares, while Tisco added 7.50 lacs shares in short side.

RELIANCE:

Trend Decider 1787 Keep a stop loss 1840 for long position.... Today resistance 1893, 1901 mark.....

ONGC:

Trend Decider 850 Down side support 820, today close eye 891, hold target 925, thereafter more up side. Today likely positive bias in this counter.

REL INFRA:

Trend Decider 700.
Today above 813 it will show power only.

  BHARTI:Today resistance 764,down side support exit 740, thereafter over all selling opportunity.

RCOM:

Below 230, immediate target 225, 222, higher level it will face resistance 241.

SAIL:

Today resistance 120, down side support exit 114, looks bearish.