Today also positive day

But Thursday + Friday

Cautious approach

Lower Level Support

Nifty - 4450, 4350

BSE - 14600-14526

Watch these level,

Hold - bullish view continue

Close Below - Bearish and exit long

NIFTY FUTURE + BANK NIFTY +CNX IT

Nifty future :

Our Views : On a weekly trend , Nifty future facing strong resistance 4790, however on closing basis at was ended below the support level 4580.On the higher side key resistance are 4650, thereafter immediate target 4850. 4935, 5200 mark can not be ruled out. Presently it is stay with major break out and potential to move 500 points likely in either side. On down side we may consider support 4450,below immediate target 4200 which is last leg of support of this bull phase and current sentiment . Below it will negate the cullish sentiment and down level test 3800-3600-3530 mark. Today support 4450 resistance 4567.

Trend Decider of this week

4559

Weekly Resistance- 4733-4877

Weekly Support -4415-4241

NIFTY :

NIFTY:
Tend Decider of the week 4547 Support 4401, 4219, resistance 4729. 4875. We have seen tough war between bulls and bears at 4550. We may consider strong support and buying area 4550 with strict stop loss, decisively break selling opportunity. On the other hand, if move past 4791, next target would be 4900-4980 or above.

Today resistance 4550, crossover it will show more power and it will test 4590-4600, down side consider support 4450, it should not break, otherwise selling opportunity.

Short Term Trend : Up
Next Target : 4800 - (Our long term target 6500)
Trend Reversal : 4200 on closing basis.
 

BSE:

BSE: 
Trend Decider of this week are 15121, resistance 15716, 16195, support 14642, 14047. Over all trend continue up and we may consider major support area 13000-13500, close below this level, invite the correction will take place nearly 12500 or lower level. On the other hand higher level the key resistance at 15680-16000-16332. We advised to investors at the current juncture, should be avoided fresh purchase and re enter on decline or support level with strict stop loss. We are at a level where breakout can be deceptive and easily move in either side 500 to 1000 points .

Today Yesterday strong reversal from the level of 14621 and closed with a smart gain. As remain 14526 level hold decline to best buy.. Close below we are bearish. Today above 15022, it will show strength and it will test 15200 mark. Lower level major support 14600 watch out. If hold strong reversal can not be ruled out.

Short Term Trend : Up
Next Target : 16500 + (our long term target 21000)
Trend Reversal : 13500
 

CNX IT

Key trend decider 3529 Smart move were seen from the level of 3000 and almost 600 points gain due to expectation of STPI norms in union budget 2009. Now we may consider resistance zone 3688-3700, lower level support 3340-3300, below likely correction which will come down easily 3182 or lower

Short Term Trend : Up
Next Target : 3800

Trend Reversal : 3000

BANK NIFTY:
.

Key Trend Decider 7129. We have seen smart pull back from the lower level and almost gain more than 1700 points and high was 7700. Over all looks that some bit of profit booking in Banking Stocks likely continue, which will drag down lower level, on the same side, some counters looks good which will support at lower level. Over all its moving like a Nifty Future and battle between the bulls and bears may continue. PANIC BUY.....300-400 POINTS LIKELY SHARP MOVE.

Short Term Trend : Up
Next Target : 7800
Trend Reversal : Close below 7000

DOW :

DOW Last week a narrow band and ended flat at 8799. Over all we may consider resistance 8500-8600, crossover more up side in World Market, whereas consider support 8500 and a medium term reversal is possible from here. But in a positive side as long as hold 200 DMA is also positive for this indices.

OPEN INTEREST ANALYSIS

IFCI and Suzlon was the star performer of yesterday trading. Speculative interest continue in the market like RNRL, Unitech, Rel Captal Reliance Power . On the other hand, JP Associates, JP Hydro, GVK Power, DLF added open interest which is long side.

RELIANCE CAPITAL

Trend Decider 1013. On decline 900 we may consider are a major support area and it should not break and close, hold this level up trend will intact. Yesterday almost U turn from the support level 900 and closed near to 4 digit mark.

Today above 1010, immediate target 1029, thereafter do not remain short, down side support exit 950. Close below 900 more selling pressure.

REL INFRA:

Trend Decider 1177 We may consider stop loss long 1095. Over all looks good..... Today support 1237, hold it will test 1325 mark.

HDIL :

Trend Decider 272 Down side support 253.. hold target 275, 283 or above easily......

JP ASSOCIATES

Trend Decider 216. Today buy above 221 with stop loss 219 target 236 immediately.

SBI:

Trend Decider 1697. We may consider major support 1600, until or unless it will not close below....short term up move continue.. Today support 1700, 1680, 1674 (below weakness) resistance exit 1750.

AXIS BANK:

Trend Decider 710. Strong consolidation and waves 3 in a full swing...which indicate support area 662 . As remain hold there is no problem in this counter which take 4 digit mark. Today support 740, crossover 765 immediate target 783, 807, 822 expected. Our target 1000 mark +

ICICI BANK:

Trend Decider 742.
Time for consolidation........Lower level support 700-693 higher level resistance 750-760. Big move on the card. Watch the trading range 720-750.