Nifty on the hourly charts formed an inverse head and shoulders pattern, the breakout of which could pull it near 4,700 level, which is also the 38.2% retracement of the fall from 5,167 to 4,370. The crucial level to watch is 4,580 on upside and 4,500 on downside. The market breadth was
In favour of bulls. In Sensex it could touch 15500 level in this rally.

Buy Adlabs tgt 560,568,577 sl 531, / Buy Indian Bank SL 109 tgt 114,116 / LMW Buy above 1400 tgt 1425,1435 / SUzlon Buy above 255 tgt 260,265 sell below 250 tgt 246,241 / Titan sell on higher level SL 1100. Positive Stocks Sesa Goa, EKC, DLF, Alstom above 450.

Today Inflation data mkt exceptaion 8.30% .
Scrip Name Support Levels Close Resistance Levels Action
---------------------S1---S2--(Rs)--R2--R1---
NIFTY Futures--4439-4479-4499-4531-4579---Go long above R2.
Adlabs Film-------539--545--551---557--563---Go long above R2.
Century Text-----599--604--610---616--622---Go long above R2.
DLF--------------485--490--498---503--509---Go long above R2.
ICICI Bank-------729--734--742----752--759---Go long above R2.
Infosys----------1837-1859-1878--1901-1929---Go long above R2.
J P Associates----181--184---186---188--191----Go long above R2.
Reliance---------2213-2249-2282-2299-2330----Go long with stop loss below S2.
Reliance Capital-1099-1109-1126--1141-1159-----Go long above R2.
SBI-------------1300-1326-1340--1351-1370-----Go long above R2.