STRONG GLOBAL CUES

Market expected to Gap Up after the worst expiry month . Today's NF is 4791 for target 4833 and resistance around 4867-4887. Stop loss for all longs should be 4761.. but relief rally is likely after 8 days of continuous fall with daily charts also in over sold levels.

SETTLEMENT DAY

Channel support around NS 4765-4725 which should hold for today. ... strength only over 4854 with pivot as 4831. To initiate longs NF should stay over 4792-4812 otherwise weakness could continue for another day. Daily/weekly charts are still negative.

RECOVERY FROM OVERSOLD

50DMA around 4825 should act as support as we are reaching oversold levels in hourly charts. Pivot and major resistance is NF 4884 and support 4807-4773. Tomorrow being settlement day, we may see short covering rally. UPmove possible only over 4930.

VOLATILTY AHEAD

Since Diwali Muharat, we are in a down trend which can continue this week as daily charts are showing negativity. Pivot for today is NF 4993 and bullish only over NF 5015... support lies around 4950-4920 from where some bounce is likely. We are nearing monthly pivot of 4908 and 50 DMA is around 4850 which could act as support for this wave.

SETTLEMENT WEEK

Pivot for the week is nf 5050 with resistance at 5126 and support in the zone 4954-4910. Nf has to trade over 5044 for bullishness though 4970 should act as a good support. For today, the pivot is 5016 for target 5025-5044 and support at 4989-4970. Bullish over 5052-5064... Lets see how the market reacts to extended hours of trading in next few days.

OVERSOLD LEVELS

It was little overdone and now we are in oversold levels in hourly chart. Gap up expected today with profit taking in morning. NF pivot for today is 5014 for target 5032 and resistance at 5059. For upmove, NF should trade over 5042 ( 20SMA). Support lies at 4976-4952. Take care as NF should not break 4952 in close which is a important level. On upside 5072-92 still remains a resistance level.

NEARING SUPPORT

Yesterday, NS 5077 was broken and now we are nearing support level which is around NF 5022-5032.... Beware..... as below it can go all the way to 4988-4952. Pivot for today is NF 5083... strength only over 5092.

PROFIT TAKING

Market looking tired here with profit taking at higher levels though the technical target is to cross the 5300 Island by November end . For this week, the support and Pivot is NF 5076 which should be kept in mind. Today, NF has to trade over 5127 for strength and support lies around 5085. Watch the swing of NS 5077.....

OPTIMISSIM TURNED INTO PESSIMISM

Muhrat trading opened with gap up and closed at the low point of the day sending a message to those who can understand...... For this week , the Pivot is NF 5076 with resistance in the zone of 5208-5247-5296 and support lies around 5066-5005-4988. Nf has to trade over 5146 for strength and will remain weak below 5108.

SAMVAT 2066

Wishing all the readers of this Blog.... A very happy & Prosperous Diwali!!

HAPPY DIWALI !!

Market taking a breather before Diwali. It has come a long way from previous Diwali... low of that day was around 2540 and it never broke that level and moved all the way to 5150 .... Now the crucial support is Nf 5052 for upward move. Today's pivot is NF 5108 with resistance around 5134-5155 and support at 5092-5070. We are definately heading towards the bubble zone which may be 5250-5500 .

DOW SET TO CHEER GLOBAL MARKET

DOW closing over 10000 mark !!! We too will gap up with first resistance on opening around NS 5163-5172. Today's Pivot is 5112 and Nf has to trade over 5144 for upward momentum... support around 5096-5108. With today's momentum, the hourly charts will go in overbought zone and may see profit taking in the afternoon or tomorrow

SHORT COVERING RALLY

Short covering seen in Nifty futures and calls once nifty started trading over 5000 level which now holds the key and is the immediate balancing point. For strength Nf has to trade over 5048- 5068 and preferably 5094 with today's resistance in the zone of 5135-5140 ..... ultimate target still remains 5300+.

WEAKNESS TO STAY

Infosys result.... RIL Bonus... global positivity ... failed to cheer the market . Pivot for this week is Nf 4977 with support in the range 4875-4845 and resistance around 5023. Only close over 5036 can start the upmove.

INFOSYS TO SET THE TREND

Infosys earnings can change the sentiment of the market which is oscillating around 5000 mark since last one week. Pivot for today is NF 5003 with weekly pivot as 5047 acting as resistance.... support lies around 4972-4964-4942 for this wave. Bearish below Nf 4981 and strength over 5020.

ENJOY RIL BONUS !!

Market expected to Gap up as RIL may open 100-150 points up; with profit taking coming at these levels. However, market remains range bound 4950-5050 zone. Today's pivot is NF 5006 with resistance at 5035-5047 and support at 4964-4943.

EVENLY POSED

Market tested the pivot of this month which is around 4910 and reacted sharply. Pivot for today is Nf 5001 and pivot for this week is 5047. Today's resistance could be NF 5062-5088 wheras support lies around 4988-4968

CONSOLIDATION

Nifty may consolidate here with positive bias waiting for results .. Today' pivot is NF 5021 for target 5045 and resistance around 5074-5080 and support at 5008-4980

SENSEX CROSSES 17K

September month closing over 17000 in sensex and 5000 in Nifty confirms the bullish trend. For october, NF 4908 is the pivot with first resistance around 5213-5245 and support around 4794-4736. For bullishness to stay, Nf has to trade over 5027 .
For today, the Pivot and support is NF 5046 with resistance at 5097-5120 . Bullishness only over 5027.