BREAKOUT

Nifty gave a break out yesterday in early hours of trade by trading over 5061-68... with 1st monthly resistance in range of NF 5197-5269. Today's pivot is NF 5105 with resistance 5156-5182 and support 5082-5072.

MONTHLY TECHNICALS

Nifty managed to close around 1st Resistance level of November showing some strength as well indicating range bound trading. Pivot for m/o of December is NF 4901 with bullishness over 5086 and bearish below 4974...... more when the range gets broken.
Expect range bound trading today with resistance in the range of NF 5046-5068 and support around 5000-4978 ....pivot being the yesterday's close. ... bullish only over 5061 and bearish below 5002.

MONTHLY CLOSE

Market expected to gap up after bouncing from oversold levels. Resistance for today in the zone of NF 5020-5040 which is monthly resistance as well. Pivot for this week is NF 4962 with support at 4784 and resistance at 5123. However, with today's Gapup we will form Bullish Island reversal as long as this level of NF 4953-5008 holds.

WEAK SETTLEMENT

Pathetic end to a otherwise strong November Series but Market breadth had already indicated a storm. Range got broken on the lower side and then Bears had their Grip. Support lies for today around NF 4884 with Pivot as 5025 and resistance of yesterday's close of 4980.

PLAY THE RANGE

Market remains range bound with positive bias .... however, yesterday's positive close with negative Advance/Decline ratio does not give strong clue of the upmove and may be a distribution phase. Range remains 5128-5096-5080-5068. Strength over NF 5128 and weakness below 5068.Watch Reliance..

SETTLEMENT BETS

With settlement bets going on for settlement over 5150 or below 5080... volatility likely to increase. Today's pivot is 5072 for target 5089-5105 with support around 5042-5025. Watch yesterday's low of NF 5050 and high of 5109.

FLAT MOVE

Yesterday's move showed profit taking in many stocks with RIL holding the market. Today's pivot is 5096 with resistance at 5115 and 5132 and support around 5072-5052. NF should hold 5020 for any upmove.

WEEKLY TECHNICALS

Market took support over 4935 and rallied strongly from there. However, 5120-5174 level still hold resistance with weekly pivot at NF 5028 and support at 4974-4910-4860. Its going to be range bound till settlement.

CORRECTION FROM OVERBOUGHT ZONE

From Diwali Muharat, we had 11 days of fall and then 11 days of rise. Time wise,period has elapsed. Today's pivot is NF 4998 with resistance at 5008-5032 and support around 4960-4935-4910. NF should hold 4860 level for uptrend to continue and strength only over 5042

RANGE BOUND ACTION

Walls of Fear again setting at these level with strong resistance of Diwali Muharat day's low.... May like to consolidate between 4860 and 5100. Today's pivot is 5057-5067 with resistance at 5088-5109.. support in the zone of 5035-5015.