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