SETTLEMENT DAY

Yesterday, Nifty completed its target and reacted after hitting resistance zone which is very important to cross for upmove. Today, being settlement day, expect volatility. As my daily charts have turned positive, dips can be bought with S.L. of NF 2722. NF should trade over 2734- 2745 for target of 2762-2768-2780. Very bullish over NF 2782 which is yesterday's high for target 2822.

SHORT COVERING BEFORE EXPIRY

Yesterday, mkt went low but indicators were giving positive divergence and we had bounce back till NF 2739. Right now odds in favour of longs. Today's strategy should be to go long with S.L. 2705 in NF for target 2744- 2761-2780. For strength NF should trade over 2743. Resistance at NS 2790-2808.

RETEST OF LOWS.

With U.S. markets breaking its low causes pressure on Asian markets. For Indian markets, NS 2660 holds the key. Today's trading strategy should be to watch NF 2688. If it bounces from there and holds 2708 , we can see 2739-2744. Below NF 2684, we could test 2645. For strength to come NS should be over 2762. Asian markets rallied yesterday from their oversold position wheras we were closed and this being the settlement week, trading could be tough as one can get caught either side. Today's pivot is NF 2723. Use high of NF as S.L. for any shorts as indicators are giving positive divergence and bounce back is likely from this zone .

FINAL WAVE IN FORMATION

Last two days nifty has traded in small range with resistance at 2800 and support at 2757... today, we are likely to break that with support at NS 2720-2700. Trading strategy should be to cover shorts today and go flat as next week is settlement. Today's pivot is NF 2776 with support at 2740-2729-2688. One should go long only over NF 2798 for move up as that is the final stop loss for all shorts. NF strong only over 2766. Monday being holiday, tuesday will define the trend for settlement.

PAUSE BEFORE BIG MOVE

Nifty did bounce back from its low yesterday but couldnot sustain its gains and ended flat. Expect range bound today with NF 2740-2795 holding the key. Pivot is at 2762 with resistance at 2792-2806 and support at 2740-2720. NF has to sustain over 2784 for upmove .

NEARING SUPPORT LEVEL

Market has reacted sharply and is reaching oversold levels. Today's pivot is 2768 with resistance at 2774-2793 and support at 2735-2717. Trading strategy for today should be to cover shorts around 2717-2735 or keep trailing stop loss of NF 2762 as we can see exhaustion of selling today and can see bounce to 2840 level though the trend has turned down. Support is NS 2728.

DAMP SQUIB

Nifty broke the crucial level 2882 to take support at 2840. Today's pivot is NF 2859 with support at 2803-2775. Strength will come only over NS 2882. Watch level NS 2800-2780 for support.

BUDGET EXPECTATIONS

Nifty did break out its previous low but not sensex... so, we are still in consolidation phase. We are near major resistances and some of the oscillators are giving negative divergence. NS 2882 still holds the key. NF must trade over 2912 for the upmove. Today's pivot is NF 2948 with resistance at 2960-2973 and support at 2932-2920. Bearish below NF 2920. Expect some volatility today.

CONSOLIDATION WITH IN RANGE

Nifty traded in range ; yet protecting the crucial support NS 2882. For upmove to start, NF has to trade over 2927-2934. The pivot for this wave is NF 2893 with resistance at 2913-2934 and support at 2884-2872. NF looks bullish over 2905 and bearish below 2888. Everybody is waiting for budget.....

CONSOLIDATION AFTER BREAK OUT

Inspite of weak global cues, Bulls managed to show strength and protect the first support of NS 2882. NS 2840 has to be protected for any upward move. Today's pivot is NF 2911 with resistance at 2943-2961 and support at 2905-2887-2872. Below 2872 we will be weak for 2840 level. Today also Asia is weak which can give some nervousness to bulls if yesterday's low is broken. The target for this wave over NS 2882 is 3060 which is acting as lollipop for traders.