INFOSYS RESULT TO CHANGE SENTIMENT

I feel that this wave has made its bottom and bounce back likely to 4154-4200 level likely. Today's pivot is NF 4072 for target 4112-4116. Strong as long as it trades over 4097 for its first target as 4161 depending on global cues. Weakness below NF 4060-4052 with as stop loss for longs.

SHOWING WEAKNESS

Market showing weakness with sell on every rise... watch 13470 on sensex (Gap UP zone) for the support. NF strength only over 4084-4093 with support 4041-4015. UP move only over NF 4117. Will 4000 as psychological hold needs to be seen.

SENTIMENTS CRACKED

With the big fall , there has been structural damage and yesterday nifty failed to cross even 4250 shows there is some more to go...however, we will be entering oversold zone. Today's pivot is NF 4188 with support around 4149-4095 and resistance in the zone of 4212-4233. NF has to trade over 4160-4170 for some strength.

DISAPPOINTMENT

What a Sell out yesterday..... Today a bounce back likely if FM gives some clarification to NF 4253-4276 with strong resistance at 4353 level. If trading in negative , NF can find support around 4055-3955. Trade with care

BUDGET DAY

Volatility expected on Budget Day with daily charts in positive mode and weekly in negative... till then swings can be on both side. Today's pivot is NF 4389 with resistance at 4461-4497 and support at 4389-4352. Last swing was at NS 4339 which needs to be taken out and NF has to stay over 4372 for upmove .

DIRECTIONLESS

Market is direction less in the range NS 4370-4340-4270 with break down below 4250 and final support at 4170 and break out above 4390. Till then buy low and sell high. Today's pivot is NF 4333 with resistance at 4373 and support at 4318-4291-4270.

SWING BOTH SIDES BEFORE THE EVENT

Range bound action to continue between 4250-4400. Today's pivot is NF 4315 for target 4373 -4382 and resistance 4408-4412. ... Support in the range 4304-4270. Upmove only if NF sustains over 4305 with long breakout over 4415

PRE BUDGET BLUES???

Was it the Pre Budget blues which led to long unwinding yesterday or technically beginning of second leg of correction will be clear if we trade below 4250-4220. From 2nd July, one of the star is turning which was responsible for bearish June. Today's pivot and resistance is NF 4330-4339 with support in the range of 4273-4240. NS should remain over 4320 for any upmove.

PRE BUDGET RALLY

On Friday, NS managed to stay over 5 SMA and rallied from there ....followed by short covering over NS 4339 . Daily charts are positive whereas weekly still showing negativity. Today's pivot and support is NF 4346 for resistance at 4423-4434-4461 (20 SMA at 4446). Weakness below 4329-4308 for this rally.

BEARS HAD THEIR MIGHT.....

Negative settlement yesterday was truly a bearish signature after a strong bull rally of over three months.We are right now in the 4200-4300 range with 5 Sma around 4265. Today's pivot is 4287-4293 for resistance around 4327-4335. Nf has to trade over 4305 for strength and preferably over 4335 . Support in the range of 4226-4192 for next few days. Gap up opening today may invite shorts.