Banking Sector to Watch

: Bullish Break out :

Continue close above 4750

Nifty Target 5077-5518

FIIS turns net buyers since August

Rally will face Resistance

Of 61.8% retrenchment of of Down Move

Nifty 4800 - BSE 16180

Nifty future :

Stop loss 5-10 points

Profit 50-100-150-200 points

Momentum Continue..........

The Nifty future closed above the 4700 mark with premium against spot. On the other hand Sept. future were saw sharp roller of 76 percent which is the highest in 2009. The overall market wide roll over at 84 percent is also higher than the three months average rollovers and most of the stocks closed and trading with premium which indicate players are not willing to short and they are bullish in Sept. series. SO WHAT TO DO IN SEPT SERIES.

We may consider strong support zone 4550-4575 and decline should be buying opportunity, A break below 4400-4350 could take the Nifty 4200-4000, however chances are very remote or any worst conditions it will achievable. As remain Nifty hold 4600 play for long side and stop loss can be adjusted suitably to protect the profits.

Weekly Trend Decider 4690

FO ANALYSIS

In STOCK FUTURE - hefty rollover saw in Sept series. Sector wise healthy rollovers were seen in Sugar, Reality, Textile, Cement and Fertilizers. In stock future, the action was mainly centred in Unitech, IFCI, JP Associate, ABAN, Suzlon, Praj Ind, HDIL, Bank of Baroda. These counters looks over all positive in coming days.

NIFTY :

NSE :
Weekly trend decider 4671, resistance 4805-4878, down side support are 4598-4464.

Stop loss for long 4353 target 5077-5518. Today support 4700-4680, crossover 4750 and sustained with volume immediate target are 4790-4800. Short term support 4630-4600 as remain bull move continue.

Short Term Trend : Up
Next Target : 5000 +
Trend Reversal : 4400.
 

BSE:

BSE: Weekly trend decider 15747, resistance 16132-16342, down side support are 15537-15152.

Stop loss for long 14684 target 18104-19960.
Down side strong support 15600-15550, once it will cross 15957 of weekly high, immediate target are 16000-16120,16180. Close above 16180 will more up side.

Short Term Trend : Up
Next Target : 17000-17886
Trend Reversal : 15000
 

CNX IT

CNX IT: Weekly trend decider 4641. We are bullish in CNX it from the level of 3900 and our target 4600-4700 have been achieved. Now consider resistance level 4800, as hold 4600 up move continue

Short Term Trend : Up
Next Target : 5000

Trend Reversal : 4400

BANK NIFTY:
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BANK NIFTY:
Weekly trend decider7461, down side major support 7387-7291 and resistance 7557-7631 Decline to buying opportunity. Today resistance 7500, down side support exit 7380, below further weakness

Short Term Trend : Natural.
Next Target : 7800-8000
Trend Reversal : 7000

Dow : Last week of DOW is a very narrow range and week to week only 38 points gains. However, momentum are continue in bullish mode and decisively crossover 9500-9600 and closed above, it will test 10000-10300 in coming days.

RELIANCE:

Weekly trend decider 2037, resistance 2118-2162, support 1993-1911. Major support 1860, closed below negative bias only.

Down side support are 2050 and strong support near to 2000, higher level to be watch out 2090, trade and sustained with volume decent up move and closed above short term target 2200-2300 level.

  LTWeekly trend decider 1579, resistance 1664-1710, down side support 1534-1449. Hold 1600 it will test 1660 or above.  

UNITECH:Weekly trend decider 95, resistance 103-108 support are 91-83. Looks hot with consider support 96 and today target 104-105 easily. Our target are 120-125.  

JP ASSOCIATES .

Weekly trend decider 225, resistance 237-243, support 219-207.

Down side 225-226 are a crucial support of this counter and decline to buying opportunity, hold, it will test 246-251-266.

DLF :

Weekly trend decider 394 resistance 435-456, support 372-332.

Lower level 350 support ... yesterday close above 407 with strong volume force...... ultimate target 435.. Thereafter it will show more power. Catch it at opening level.

TISCO:

Weekly trend decider 442, resistance 463-487 support are 418-397. Down side strong support 415-400, break + close below negative bias and it will test 375, higher level major resistance 500 thereafter fresh break out and it will test 600 mark. Buy and buy with tight stop loss.

Lower level 425 (50 DMA) are a crucial support and it should not break and close below under any circumstance otherwise 30-40 points wipe out easily.....on rise it will face continue resistance 450-467 to watch out please.

SBI:

Weekly trend decider 1768 resistance 1813-1844, support are 1736-1691. Trading range 1700 to 1900.

Above 1786 looks hot and buying opportunity, for long stop loss 1722- short term target 2047-2200. Play for long .

ABAN OFF Shore :

Extremely bullish counter with high volatile nature. Higher level to watch out 1650, close above will added more than 500 points easily.