NIFTY STOCK :
In the Nifty last week finally broken their major support level 5400 and lower level tested at 5361 and just above its March 25 low of 5328 level. If hold this level may bounce, it will face resistance 5450-5550 in near term. Higher level it will face tremendous resistance at 5628-5650 range and decisively close above 5710 necessary to mitigate this down trend in the market. On the lower side, once break 5328 with volume, over all selling in the market and lower level support 5224-5177-5000 and more lower level can not be ruled out.
On the other hand, Indian growth story likely and any weakness or dip to buying opportunity for buying for quality stocks looking to prospective of 24-40 months and Nifty will test 7000 + in coming years.
TODAY : At the end of the week nifty open positively and it was showing some volatile session in the market and close almost flatly. Technically in weekly chart it is in Head and shoulder formation below 5330 we can see the farther weakness in nifty and can see the rally around 5219-5084. And overall positive movement above 5625 level. Now we may consider support 5330-5246, resistance 5400-5450 watch out.
BSE
As mentioned number of times in this column that BSE Index will face resistance at 18700-18850 and unable to cross and started down ward journey. Over daily and weekly chart in the negative territory and down ward bias continue in the market. As long as the Index trade below 18700-18850 , down side first target 17786 (recently low) and decisively break with volume over all bearish and likely test 17400-16500-16000 in near term. Over all wait and watch but must avoid any fresh commitment in the market at this juncture.
Today Yesterday BSE Index open positively and it was showing volatile session and close negatively. Now they consider support at lower level 17786-17665, where as the resistance 18085-18187.
CNX IT :
As mentioned in this column last month that 6700 are a good support and once break and trade below overall weakness in CNX IT Index and finally broken strong support level 6525 and it was closed at 6352. Overall trend is bearish and down side watch out support level 6175-5880 once break and close below on weekly basis, it will move towards 5500 and below. On the higher side as long as stay below 7000 , the outlook would remain negative.
Intraday Nifty Stock Future
Now what to do.....today
Now Today : we may consider resistance 5400.....decisively crossover and stay with volume it will show strength and likely test ............ lower level strong support 5375...?............. decisively break with volume another round of panic and may test ...? Near the major support... Watch out major support 5328....
SBI
Now resistance 2250
Break and trade below 2170 and stay with volume
Free fall on the card.
CAIRN LTD
Bearish break out out...
Below 335......more down side in coming days.
RELIANCE LTD
Higher level resistance
900 and support 850 watch out.
Do not panic at lower level.
RELIANCE INFRA
Looks good..... today crossover....?.
And stay with volume over all buying in this counter.
SUN PHARMA
Up move over...Time to profit booking
Major resistance 500-510
HCL TECH
Free fall on the card in coming days
Sell on rise strategy.
YES BANK
Sell around.......with tight stop loss
For target..... thereafter more down side.
TATA STEEL
Corrective rally continue due to....
Now resistance 580-585.. hold this
Level do not think to short side. Time being.
Major support 565 ...Reversal to buy.
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