EXPIRY DAY

Expiry day of settlement is likely to bring volatility. For today, NF 4252-4262 will act as a pendulum mean point for the market to swing either way. Support lies around 4222-4229 where the shorts were covered yesterday. No buy below NF 4208.

OVERSOLD IN HOURLY CHARTS

I had been writing 13500 level on Sensex and yesterday it came close to that level (13518) from where bounce back is likely. For today , NF is strong as long as it trades over 4159 for target 4203-4219. However, NF 4224-4234 will act as strength test ; over which the shorts are likely to be covered.

RANGE COMPRESSED

The range is getting compressed and should give a big move in a day or two.... but with settlement getting closer and FII's selling stock futures in huge quantity... one need to be careful. Today's pivot is NF 4241 for target 4261 and resistance at 4280 whereas support lies at 4223- 4203. NS is stuck in zone of 4224-4248 where maximum activity has taken place in last three days. Watch 13500 on sensex.

SIDE WAYS WITH PROFIT BOOKING

Market likely to open down with support in the range of NF 4224-4197. pivot for today is NF 4226 for target 4279-4307. NF 4308 is the pivot for this week which may offer resistance at this level. Range for today could be NS 4172-4302.... break out either side should give a big move.

CONTINUATION OF PATTERN

Rangebound trading seen with support in the zone of NF 4152-4174-4186 and upmove over NF 4237 with resistance at 4262-4287. Strong only over NF 4293.

CONSOLIDATION ZONE

Market likely to consolidate between 4350-4150. Today's pivot is NF 4308 for target 4321-4353 and support 4245-4227. Strength over only NF 4322

PROFIT TAKING TO CONTINUE

After such unexpected rally, market likely to take rest... consolidation with profit taking but no major selling. Today's pivot is NF 4383 with resistance at 4462 and support around 4252-4224 and further at 4150-4105. Watch sensex 13500 which should not break for trend to remain strong.

STRONG RESISTANCE AT NS 3648

Shorts got squeezed badly.... first time in history to have closed on upper circuit. Now S/R for this mkt is NF 4250-4280 where the shorts were covered after first circuit opening. For the market to have strength it should trade over NF 4470-4570 today. I personally was flat before the event and will let the exuberance settle down before taking any trade as the market is too overstretched.

CHEERS TO UPA...

Market to gap up... with minor profit taking ... Strong as long as it trades over NF 3715 for times to come. No levels is relevant today over NF 3789-38237-3952. Enjoy the day....

NEUTRAL OUTLOOK PRE ELECTION RESULT

Ahead of important event, market is poised to give a big move either side... 3500 /3700. Today could be range bound with positive outlook over NF 3596 for target 3627-3650. Bullish only over 3652 and bearish below 3580.