Today NIFTY 31/03/10

It is very clear in the chart that the NIFTY cannot sustain above 5310. However it manages to open in positive note yesterday, but closed below the mentioned level. A close Above 5310, Nifty can touch 5350, 5400 and for downside it should close below 5195.

Today NIFTY above 5272, 5281-89, 5310-13, 5326, 5338, 5350 are Resistance and
below 5249, 5242, 5220, 5200-94, 5183 will act as supports.

29-03-2010

                                    TODAY NIFTY  abov 5290  resistance  at 5297, 5310, 5322, 5346, 5360

    below 5270   support at 5256, 5220, 5184.

As said on last week, NIFTY cannot move beyond its DOUBLE TOP level 5293and formed CHANNEL in the zone. In coming sessions NIFTY have tendency to raise above 5290 however have a resistance at 5310 level. Also the 15day RSI indicates OVER BROUGHT in NIFTY. The negative trend penetrates only a close below 5200.


In coming trading days, 5310, 5326, 5344, 5371 will be resistance and below 5200, 5125, 5110-00, 5050 might be supports.


Our last week call, CANBK reached all the targets, ABAN managed at 1180, RELCAP reached 1st target. RELCAP can be considered for next week too. Above 787 it may touch 800, 805.

Today NIFTY 26-03-10

Nifty formed Double Top in the Daily Chart. If it break the Top, that is 5279, it will reach 5310 and 5322, with minor resistance at 5287, 5292. For the downside below 5200, 5170 and 5135 will act as supports.

Today Nifty above 5265, 5271-79, 5283-5287, 5292, 5310 will be Resistance and
Below 5250, 5242, 5224-18, 5195 will be Supports.

Intraday Recommandation

Buy RELCAP 770-775 for tgt 783, 791, 800 with s/l 765

Today NIFTY 25/03/10

Nifty formed a 'Channel' in Daily charts. This may create a  heavy downside below 5070, but in the interim with minor supports at 5158, 5100.

Today Nifty above 5233, 5248-51, 5261-65, 5273, 5285, 5292-97 are Resistance

and below 5210, 5199, 5192, 5187, 5175, 5165, 5140 will be Supports.

Intraday Recommandation

Sell ABAN below 1170 for tgt 1160, 1155 with s/l 1179
Buy Canbk above 402 for tgt 407, 411 with s/l 396

Today NIFTY 23/03/10

The next upmove is possible only if Nifty move above 5292. Today if Nifty Holds above 5226, 5239, 5242, 5255, 5269 will be Resistance and below 5192, 5174, 5158 and 5100 will be Supports.
As expiry is nearing there will be high volatility. Day traders should be cautious in their positions.

This Week NIFTY

In the above NIFTY Weekly Chart, it is clear that the 5292 level act as a major resistance. Nifty cannot break the level and formed a double top in the zone.

In coming sessions, if nifty cross 5292, then the next level will be 5479 which is 78.8% of FIBONACCI Retracement.  Close below 5097 will signal a negative trend. On downside 4885 will act as a good support, below that 4792 will hold the Nifty, which is also 61.8% of FIBONACCI Retracement.

Today NIFTY 19/03/10

Nifty have tendency to raise above 5250 today, above the level it have frequent resistance for every 10 points till 5089. Exceeding 5289 will have good up move. As the expiry is on coming week, it is advisable to be cautious on every up move.
Today above 5250, 5264, 5276, 5289, 5301, 5313 will be Resistance and
Below 5231, 5195, 5160 and 5148 will find good supports.

Intraday Recommandation

Buy IVRCL Infra abv 175 for tgt 182, 185, 188 with S/L 172.

Today NIFTY 18/03/10

If NIFTY cross above 5292 to 5295 then it might reach our next target of 5350 and 5400. But it is safe enough to book 25 to 50% of Profits here.
Today Nifty above 5236 may face resistance at 5246, 5258, 5271, 5295 and
below 5220, 5201, 5189, 5166, 5130 will act as supports.

Recommendation
(Positional) Buy SCI abv 158.50 tgt 172, 180 with S/L 151.
(Intraday) tgt 163, 166 S/L 156.

Today NIFTY 17/03/10

As said before, yesterday NIFTY reached to its 1st target (5205) of the 'Cup pattern' and closed below the level. The next target is on 5350. But, Selling pressure likely to rise in the interim. This may lead Nifty to 5137 and 5124.
Today if Nifty holds above 5205, will find Resistance at 5220 to 5227, 5238, 5250. and below 5183
Supports at 5170, 5151, 5142, 5137, 5126.

NIFTY TODAY 16/03/10

For the Past 5 to 6 trading sessions Nifty is range bound between 5065 to 5150 levels. Break out on either side would give a clear trend.
Today Nifty above 5131 to 5135 would face Resistance at 5145, 5156, 5169, 5178, 5200. and below 5123
Supports on 5116, 5100, 5075, 5050.

INTRADAY RECOMMANDATION.

Buy STER abv 825 for tgt 839, 842 with s/l 820.

FOR INTRADAY:  TCS buy abov 801 tgt 810, 815,  S/L 795.
                                sell HDIL below 299 tgt 292, 298  S/L 302.

This Week NIFTY

As said on Last week Nifty Closed above the Cup Pattern (see last week post). It may likely to have a up move if sustains 5158 levels. 

5182 to 5187 will act as heavy resistance and above that 5205, 5227, 5254 and 5300 will act as Resistance.

For Bearish trend Nifty should cross and close below 5092 to 5084. Downside support will be on  4997, which is also 34 EMA.

Today NIFTY

Yesterday Nifty touched the Resistance 5137 and closed below it. Today it can cross 5140 zone. As we already said some of the indicators are in Over Bought stage.
Above 5140, 5150, 5169, 5172 will act as Resistance, and
Below 5118, 5100 will be a good Support. Nifty will have Downfall only below 5092. As said before below 5092, 5064, 5050, 5000 will be good supporting points.

11/03/10

11/03/10

NIFTY formed Head and Shoulder Pattern in Intraday charts (see above chart). If Nifty cross 5120 then it will find supports at 5137, 5142, 5164, 5172, 5185. On downside below Nick line 5064, 5050 and 5000 will be good supports.

10/03/10

Today Nifty above 5110 may face heavy resistance on every 10 points till 5155. Above 5155 it can touch 5179, 5200. But Nifty seems to be in Over bought category.

Below 5090 supports will be 5085, 5068, 5016, 5000.

Avoid taking positions today.

09/03/10

Today if NIFTY cross above 5130 it may face Resistance at 5145, 5156 to 5160, 5172, 5182. 

Below 5114 find Support at 5100, 5089, 5069. Below 5069 Nifty might have a fall.

Intraday Recommandation:

ANANTRAJ Buy abv. 133 for tgt 137, 142 with s/l 129.

This week NIFTY

NIFTY formed 'CUP' pattern in EOD charts, if it cut the high Nifty can breach upto 5237, 5355 levels. Nifty may see Resistance at 5162, 5182, 5210. On Downside, the Support will be 5015 to 5000, 4935. Below 4935 it can fall 4886, 4836.

05/03/2010

Nifty formed 'CUP' pattern in yesterday intraday chart. If Nifty break the above cup high, it can touch 5103, 5121. One downside it should break 5055 to 5050 levels. Nifty will face Resistance at 5103, 5110, 5117, 5121, 5130, 5141 and Supports at 5039, 5000, 4993, 4966, 4936.
RECOMMENDATION
PATELENG Buy abv. 450, tgt 470, 482, S/L 427. For Intraday tgt 455, 462, S/L 444.

4/03/10  NIFTY CROSS ABOVE 5090 TO 5095, IT MAY TOUCH 5100 TO 5110, 5112 TO 5117, 5122, 5130, 5141 TO 5146, 5171, 5201. ON DOWNSIDE, NIFTY SHOULD CROSS BELOW 5065. THE NEXT LEVELS WOULD BE 5050, 5039 TO 5031, 5000, 4993, 4966, 4936.
INTRADAY RECOMMANDATION
ABAN BUY ABV 1225, TGT 1240, 1254, S/L 1212
YESTERDAY OUR RECOMMANDATION SBI MADE HIGH 2025.90. FIRST 2 TGT'S REACHED.

today NIFTY if cross abov 5030 to 5032 next RESISTANCE at 5053,5064 to 5067, 5074,5087,5110.
if cross below 4998 SUPPORT at 4986,4965, 4954, 4877.
 SBIN  closed abov  RESISTANCE 1960 and yesterday foming DOJI STAR. so buy abov 1990 with S/L 1900 tgt 2099,2140.
intraday  tgt  2015,2023,2032  S/L 1974

BHEL all target reached. Today high 2449.90.

Intraday Recommandation
Sell REL CAPITAL target 780 reached. Given at 787.

This week NIFTY if  close above 4950 for one or two days may touch 5058,5106, 5153
if sustains above 5153 may see previous high 5200,5300.
if below 4736, 4671, 4659 see a good support, if close below 4659 it may fall 4503.