SETTLEMENT WEEK

Shorts being covered on every dip last week, nifty is poised for positive settlement. Levels for this week are NF 4474-4540-4608-4650. NF 4596-4626 likely to offer resistance and support remains around 4474-4422.
With strong global cues, nifty future will open gap up and then decide its course. NF has to stay over 4560-4578 for momentum to continue.

SIDEWAYS MOVE

Range still remains the same. Pivot for today is NF 4467 with first support in the zone of 4438-08 .... strength only if trades over NS 4424 . Break of 4424 can make it retest its lows. Resistance around NF 4474-4497. Market likely to follow weak global cues.

STUCK IN A RANGE

Range now could be NS 4555-4495-4424. Break out either side could give big move however watch NF 4351 for stoploss for all longs.Pivot for today is NF 4442 with resistance at 4492-4529; support in the zone 4417-4380. For strength NF has to trade over 4424.

GLOBAL MARKET TUMBLES

India too participated in the global sell off breaking all supports and testing the previous low. By today's selling, hourly charts will be in oversold. Pivot for today is NF 4412 with support around 4333-4319-4293. For strength NF has to trade over 4454. Break of previous lows can take us to 4200 levels in coming days.

RANGE BOUND

Nifty is expected to be range bound as long as NS 4430 is maintained. Weekly S/R is NF 4516 and first support around 4409-4425 with resistance in range of 4650-4682. Watch Gap up zone in sensex 15213-15055.
Today is the gap down day with support around NF 4521-4489. ... strength only over NF 4579

BULLS BACK AGAIN

Bulls showed their strength by retaining the gains of the gap up and surpassing all resistances. Today could be day of consolidation after a strong upmove. Pivot and support for the day is NF 4582-86 with resistance around 4641-4652. FII's turned buyers yesterday and market breadth was excellent.... daily indicators turning positive. For rally to stay positive NF has to stay over 4510 and preferably 4542-52.

REVERSAL DAY

Yesterday, Nifty gave a false break down but reversed immediately trapping the shorts. Now, the trading range is 4417-4484-4551. Swings to overcome is 4510 and 4560 . For today the pivot and major support is NF 4426 and has to trade over 4494 and preferably 4528 for strength and momentum to continue. Only major concern is FII's were still sellers in yesterday,s trade. With strong global cues, Nifty likely to open with gap up .... but will that sustain is to be seen....

SUPPORT UNDER THREAT

Yesterday, the support was held and could rally till NF 4515. With the Asian markets showing negativity, the monthly pivot of NF 4400 may be under threat. Watch NS 4380... break of that will call for more shorts as next weekly support is around 4335-4294. Today's pivot is NF 4459 with support around 4400-4382. NF has to trade over 4426 for any upmove. Strength only over NF 4497. Daily indicators are still negative.

SWINE FLU & DRAUGHT FEARS.......

Yesterday , NS 4420 was broken in last hours of trade.... Next level to watch is NS 4380. For today, if we trade over NF 4382 then we can target 4454- 4470 and strength coming only over 4514 Break of 4382 has support in the zone 4338-4326. Daily indicators are still negative... Any upmove will be just a bounce...

WEEKLY TECHNICALS

Last week, Nifty Future could not stay over 4715 and corrected upto 4465 which is also 20 DMA. Daily RSI is around 50 which is a neutral zone and bounce can take place. For this week, the pivot and first resistance is NF 4554-4559. NF has to stay over 4560 for first target 4627-4652. However, it is weak if trades below 4505 for retest of lows...or support around 4408-4387. Caution advised on break of NS 4420 as it will lead to further unwinding by bulls. Monthly pivot is NF 4406.