NIFTY BREAK 4580

BSE - 15300

SELLING WILL BE

INTENSIFIED

Bullish Break out :

IF Continue close above 4750

Nifty Target 5077-5518

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

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

Nifty Sept. Futures surrendered its premium and ended in discount against closed of spot and added more than 23 lacs shares, most of which were on the short side.

Today Resistance 4655

Break 4580 - Selling Opportunity target 4520

FO ANALYSIS

Over all in FO segment no. of stocks shed open interest or liquidate their long position. Unitech was the star performer and added more than 73 lacs shares in open interest. On the other hand HDIL, IFCI, Reliance Capital shed substantial open interest.

NIFTY :

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

Stop loss for long 4353 target 5077-5518. Short term support 4630-4600 as remain bull move continue. Today resistance 4652-4676 crossover it will test 4700-4710-4730, down side break 4600 immediate target are 4580-4519 and stay below free fall can not be ruled out.

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 are 15475, break below it will test 15300 -15275 which is strong support of this rally, higher level it show real strength only above 16005, otherwise on rise selling opportunity. Hold 15300 level it will test 16000-16700 easily.

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

CNX IT

CNX IT: Weekly trend decider 4641. Monthly trend
decider 4536. Higher level resistance continue are 4700-4800.

Short Term Trend : Up
Next Target : 5000

Trend Reversal : 4400

BANK NIFTY:
.

BANK NIFTY:
Weekly trend decider7461, down side major support 7387-7291 and resistance 7557-7631 Monthly trend decider 7380. Stiff resistance are 7500-7600 to be watch out please.

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.

Unable to cross 2090-2100 zone and showing weakness. Now we may consider resistance 20 , down side support range 1965-1970 break below another round of selling in this counter.

Best way to avoid this counter and volume chart are indicating its loosing strength and investors interest also.  

SAIL:

Weekly trend decider 165, resistance 169-172, support 161-157.

Today below 158 hot sell and first target are 152-145....or below.

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 itwill 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..... Today support 413 , below immediate target 400, thereafter 390-375.

SELL-SELL-SELL

ICICI BANK:

Weekly trend decider 761, resistance 776-788, support 749-734. Unable to cross 775 and started down ward journey, Below 740 bear favour and selling opportunity for target 710 or below.

MARUTI:

Weekly trend decider 1417, resistance 1452-1482, support 1387-1353. Another round of break out of above 1500 accompanied with volume. Now we may consider stop loss for long 1383 and every decline to buy for target 1744-1943 in coming days.

TELCO:

Weekly trend decider 483, resistance 514-537, support 459-428. Any decline to buy.... Major support are 390, higher level short term target 506-560-648. ... Today support 505-500 and buying opportunity...... higher level resistance 525, thereafter......

R POWER :

Weekly trend decider 161, resistance 165-169, down side support 157-153. Higher level are stiff resistance are 164-165, today break 158 sell only.. stop loss 165.

INFOSYS

Sell on Rally with stop loss 2200.