MARKET FACE some selling pressure near the upper channel line around 5,250-5,300

Dowjones -37, Nasdaq+2
Nifty on upside may face some selling pressure near the upper channel line around 5,250-5,300 near ourtargets. The market breadth was strongly dominated by bulls.
Grasim Sell Below 2500 tgt 2450,2420,2402
Tata Comm Buy above 507 tgt 515,520 Sell below 500 tgt 490,480
Tvs motors SSL 38 tgt 40,42
Delivery Call Gujarat Flurochem tgt 300 sl 194
ScripName---S1----S2-----RS.----R1----R2----Position
Nifty-------5150--5194--5217--5237--5280--Go long above R2,Go short below S2.
Adlabs------752----759---766---772---779---Go long above R2,Go short below S2.
Cent. Text--843----850---857---863--870---Go long above R2,Go short below S2.
DLF--------712-----719----726---733--740---Go long above R2,Go short below S2.
Icici Bank--886----894----901----907---918--Go long above R2,Go short below S2
Infosys----1723---1738---1751----1764---1778--Go long above R2,Go short below S2
J P Asso.---261----264---266-------269----272--Go long above R2,Go short below S2.
Reliance---2615---2638---2653--2672--2695---Go long above R2,Go short below S2.
Rel.Cap----1480--1493---1506--1518--1532--Go long above R2,Go short below S2.
SBI--------1770--1783--1794--1806--1820---Go long above R2,Go short below S2
Tata Steel---795---802---809---815---822--Go long above R2,Go short below S2.

Keep sl 5100 and BUy

Nifty Make a strong support near 5000 level and close above 5100 its positive sign for market. Keep SSl 5100 and buy.
Future Funda
Buy Tcs keep SSl 850 tgt 900, 920, 950
Buy Wockhard SSL 300 tgt 315,325
Unitech Buy SSl 280 tgt 292,296,299
Mtnl ready to blast tgt 120, 125
Delivery call
Bharti International SSL 57 tgt 65, 68, 72

buy if sensex sustain above 16750

Market opened on a positive note and made a high of 5,072. After some range-bound movement till afternoon session, it started its downward journey and gave a negative close.
As per our previous view, we have broken out of an inverted head-and-shoulders pattern, whose neckline is placed at 4,900. From here the market can retrace back up to that neckline and one can expect market to take support at the neckline.
Use support and resistance and play
ScripName----s1----S2-----rS.-------R1-------R2------Position
Nifty------4961---4979---4995---5011-----5040----Go long above R2,Go short below S2.
Adlabs-----701-----705----708----711-------715------Go long above R2,Go short below S2.
Cent. Text--801----806-----809---812-------817------go long above R2,Go short below S2.
DLF---------668----672----675----675-----681---Go long above R2,Go short below S2.
Icici Bank----868----873----876----880----885---Go long above R2,Go short below S2
Infosys16751685169317011712Go long above R2,Go short below S2
J P Asso.243245246247249Go long above R2,Go short below S2.
Reliance25552569258125912610Go long above R2,Go short below S2.
Rel.Cap13601368137313801387Go long above R2,Go short below S2.
SBI6651675169316901700Go long above R2,Go short below S2
Tata Steel768773776780785Go long above R2,Go short below S2.
BUy gammon india SSL 435 tgt 450, 458, 465
TOADY Laxmi machine, GBN also good bet

Buy Of Sensex Sustain above 16750

ScripName--S1----S2----RS.----R1----R2----Position
Nifty-------5000-5019-5035-5051-5070---Go long above R2,Go short below S2.
Adlabs------720--724---727----730-735----Go long above R2,Go short below S2.
Cent. Text--820--825---828---831--836---Go long above R2,Go short below S2.
DLF--------677---681---684---687---691---Go long above R2,Go short below S2.
Icici Bank---851---861---864---867---873--Go long above R2,Go short below S2
Infosys-----1630--1639--1646--1651--1660--Go long above R2,Go short below S2
J P Asso.-----240---242---243----244--246---Go long above R2,Go short below S2.
Reliance---2550--2569--2577---2588---2605--Go long above R2,Go short below S2.
Rel.Cap----1390--1399--1406--1411--1420--Go long above R2,Go short below S2.
SBI-------1680----1689--1696--1706--1713---Go long above R2,Go short below S2
Tata Steel--790--795--798-------801---806---Go long above R2,Go short below S2.

Patel Engg Ready to Blast Keep SSL 550 tgt 575, 582…….
Laxmi Machine You can see unexpected Buying Keep SLL 1623 And BUY
Nahar Industries Keep SSL 80 tgt 85,90
Lakshmi ELE Buy above 325
Matrix Labs Keep SL 175 and Buy tgt181, 185, 189
Greaves Cotton Keep SL 230 tgt 240,248
Go long if Sensex sustain above 16750.

Today also keep SSL 5000 in Nifty And Buy if Sustains above 5050

Yesterday Markets opened on a positive note, and Nifty remained in a range of 5,046 on upper side and 5,009 on lower side. On hourly charts, we have a moving average crossover of 50 HSMA and 200 HSMA, which is a good sign for bulls.
Nifty has support in the region of 4950-5000 and resistance at 5050. Above 5050, another level to watch out for is 5200-5400.

Sun Tv Sell below 295 tgt 290,285
Sell ACC below 800 tgt 789,782,775
Religare keep SSL 360 and go long.
Buy SBI Keep SL 1710 tgt 1755,1770,1789
Delivery call Astra Microwave SSL 70 tgt 100


ScripName------S1----S2-----RS.-----R1-----R2-----Position
Nifty50005029504850615089Go long above R2,Go short below S2.
Adlabs696700703706710Go long above R2,Go short below S2.
Cent. Text816820824827832Go long above R2,Go short below S2.
DLF642647649651656Go long above R2,Go short below S2.
Icici Bank855860864868873Go long above R2,Go short below S2
Infosys16301639164516511660Go long above R2,Go short below S2
J P Asso.230232233234236Go long above R2,Go short below S2.
Reliance26112629264226512669Go long above R2,Go short below S2.
Rel.Cap13951403140914151427Go long above R2,Go short below S2.
SBI17211732174117501760Go long above R2,Go short below S2
Tata Steel770774777780785Go long above R2,Go short below S2.

Above 4950 good buying seen in mkt

Keep Sl 4900 and go long .
Last week We recommended our friends to keep SL 4600 and go long and if cross 4800 you can see a level of 5000-5200. and now you can see nifty make a upper level.
Buy ALBK SSL 80 tgt 89
Ansal Infra Buy above 150 tgt 155,162,168,175
Go Long in Ashapura Mine chem. SSl 208
Torrent power buy above 120 tgt 125

As per chart you can see mkt support near 4800 so if mkt sustain about 4800 level then you can see more up side form 4800 to 5200-5400. But mkt can’t sustain above this level.
Apex
In second chart you can see same situation created mkt its creat triangle ln march at 5200 level. And now its creat triangle in april at 4800 level.
Major support level for mkt is 4600 that’s you can see Mkt make a supported triangle at 4600 level. If break you can see more down side from 4600 to 4100-4200.

>Nifty (April) futures discount increased to 10.7 points from 6.75 points and around 4.7 lakh shares were added in open interest.
>Total open interest in the market was Rs57,675 crore and Rs989 crore were added in open interest.
>Nifty call option shed 24,000 shares in open interest, whereas put option added 5.15 lakh shares in open interest.
Dow Jones +54 , Nasdaq +29
Markets opened on a positive note and Nifty touched the high of 4,799.5 during the day. From thereon market drifted down sharply till the last hour of trade and closed around the low of the day at 4,724.Which is crucial support for Nifty. During the day, Nifty faced resistance near the upper resistance zone of 4,800- 4,820. Nifty has also a good support at 4,628-4600.

Today also keep SSL 4720 in Nifty and if break go short. And Buy if Sustains above 4750

Scrip Name----Support Levels-Close-Resistance Levels----Action
----------------S1-----S2-----(Rs)---R2----R1------

NIFTY Futures4670---4699--4710--4731--4755--Go long above R2,Go short below S2.
Adlabs Film-----628----632----635--638----642---Go long above R2,Go short below S2.
Century Text---713-----718-----721--724---728----Go long above R2,Go short below S2.
DLF-------------593----597-----599---601--605---Go long above R2,Go short below S2.
ICICI Bank------793----798-----801---805---809---Go long above R2,Go short below S2.

Reliance-------2440----2459---2468---2475--2490--Go long above R2,Go short below S2.
Reliance Capital1221---1229----1233----1238--1245--Go long above R2,Go short below S2.
SBI-------------1645--1655----1662----1670---1680--Go long above R2,Go short below S2.

keep SL 4720

Dowjones -49 Nasdaq -26
Yesterday Market remained very choppy in the range of 4,670-4,760. It opened on a negative note, oscillated like a pendulum around yesterday’s close all through the day with strong buying in individual counters. Good Relly seen in midcap, & Small cap.

On the hourly chart, the momentum indicator KST continue to intermingle with signal line and is unable to cross the zero line on upside decisively. Our short- and mid-term bias is up for the target of 5,050 and 5,300 respectively with the short- and mid-term reversal pegged at 4,625
and 4,445 respectively

ScripNameS1S2RS.R1R2Position
Nifty46904728474947614800Go long above R2,Go short below S2.
Adlabs613618622626632Go long above R2,Go short below S2.
Cent. Text716722727731738Go long above R2,Go short below S2.
DLF600606610615621Sell On rise
Icici Bank825832837842849Go long above R2,Go short below S2
Infosys14571471148314981508Go long above R2,Go short below S2
J P Asso.216219221223226Sell on rise to R2
Reliance23802400241824352458Go long above R2,Go short below S2.
Rel.Cap12101222123112401252Go long above R2,Go short below S2.
SBI16651680169417081723Go long above R2,Go short below S2
Tata Steel669674679684690Go long above R2,Go short below S2.
Nucleus Software Buy above 200 tgt 210,225
IDBI Buy at Decline SSL 88 tgt 99,105
WalChand Industires Buy above 400 tgt 450, 480 in a week
IGL Buy SSL 120 tgt 128, 131, 135

Nifty make a triangle at 4600 level and its strong support for mkt and if cross 4800 then mkt will go up to 5000-5200.

Dowjones -37 Nasdaq -21 .
>Nifty (April) futures turned into a discount of 14.8 points from a premium of 3.2 points and around 9.7 lakh shares were added in open interest.
>Total open interest in the market was Rs54,792 crore and Rs700 crore were added in open interest.
>Nifty call option added 9.8 lakh shares in open interest, where as put option added 3.42 lakh shares in open interest.
Thermax in oversold position so buy near 450 tgt 475,495,510 with in a week.
Nifty make a triangle at 4600 level and its strong support for mkt and if cross 4800 then mkt will go up to 5000-5200.

Nifty support 4750& Resistance 4800 Sell below 4750 Buy above 4800

Dowjones + 3 Nasdaq -1

Nifty have current support near 4750 and Resistnace near 4800

LITL Buy SL 398 tgt 410 , 414 , Punj Lloyd Buy SL 300 tgt 309, 315 /Aventis Pharma Buy above 752 tgt 780 ,795/ Nicholas Piramal Buy above 330 tgt 334, 338/ Bharat Forge Buy above 280 tgt 286,290,298/Jagran Buy above 90 tgt 94, 98 /SCI Buy above 209 tgt 215, 218/ Thermax Sell below 490 tgt 482 ,475,460/ Nagarjuna Const sellSSL 191 tgt 185, 182

Nifty may test previous low

Yesterday finally closing near the day’s low indicating dominance of bears throughout the trading session. On the hourly chart, Nifty broke the crucial support of the upward trendline and closed below that, which is not a good sign for bulls. Currently markets are poised at very crucial levels, as the Sensex has made a low of 15,303 and has taken support near the short-term reversal level of 15,300. However Nifty has breached its corresponding level of 4,700 and has closed below that. Nifty has formed triangle pattern, the breakout of which occurred when Nifty breached 4,700, which is a bearish sign. . The last ray of hope for the bulls is till Nifty hold above previous swing low on hourly chart which is around 4,628 and the corresponding level for Sensex is 15300. If bears are able to breach these levels in the coming trading sessions, it is very likely that Nifty may retest its previous lows around 4,450 and then the lower channel line, which is around 4,300. The momentum indicator KST on the daily chart turned down, but is still above the signal line. Downside, Nifty has support initially at 4,625 and then around 4,540 and on upside it may face resistance around 4,700-4,740. Volatility may continue in the coming trading session. The market breadth was in the grip of bears with an advance decline ratio of more than 1:2.

ScripName------S1-----S2-------RS.-----R1------R2---Position
Nifty----------4585----4629----4666---4693---4740-go long above R2,Go short below S2.
Adlabs-----593--------598-------603---608---614--Sell on rise to R2
Cent. Text----712----719--------725-----731---738--Sell on rise to R2
DLF----------596----602------608------613---619-Go long above R2,Go short below S2.
Icici Bank-----751----758------764-----766----775-Go long above R2,Go short below S2
Infosys------1457----1471----1483-----1498--1508-Go long above R2,Go short below S2
J P Asso.----216-----219------221-----223----226---Sell on rise to R2
Reliance---2283----2305-----2322----2340---2365---Go long above R2,Go short below S2.
Rel.Cap--1148------1159---1168------1178----1189---Go long above R2,Go short below S2.
SBI----1578------1592-------1605------1618----1632--Go long above R2,Go short below S2
Tata Steel--650---656-----661---667-----673--Go Short with stop loss above R2

Use support 4735 and play BEL tgt1200

NIfty make support near 4735
Last four trading session mkt recover from low near 4735
31/3/2008 Nifty close 4735, 1/4/2008 nify close 4739
2/4/2008 NIfty close 4751, 3/4/2008 nifty close 4771
so keep SL this level and also use yesterday support and resistance
BEL sl 1135 tgt 1170,1198
SCI SL 210 tgt 218, 225
I-Flex Buy above 950 tgt 980

Use our Support & Resistance and play both side

Yesterday We recommended that Nifty can go On upside level 4970 and its make a high 4963
Dow Jones – 48, Nasdaq – 2, Today Sell Nifty below 4750
Use our support and resistance level and trade both side of trading.
Century Txt Buy above 750 tgt 756, 762, 769
Zee make a positive diversion Buy above 250 tgt 258, 261, 265

The Nifty is expected to trade within the range 4,970 towards upside and 4,640 towards downside and any decisive move will take place only when the Nifty breaches either side of the range. The volume was once again below the 20 day’s average volume.

Scrip Name.......Support Levels..Close.Resistance Levels............Action
................................S1....... S2....... (Rs)....R2.......... R1
NIFTY Futures 4684.. 4720.. 4741. 4762. 4800 Go long abo R2,Go short below S2.
Century Text......730....737......744....750..757.....Go long abo R2,Go short below S2.
ICICI Bank .........770 .....777....784 ....790.. 797.... Go long abo R2,Go short below S2.
Infosys............. 1458 ...1471 ...1482 1493 .1505 ...Go long with stop loss below S2
J P Associates 227 230 232 234 237 Go long abo R2,Go short below S2.
Reliance 2310 2330 2344 2359 2382 Go long abo R2,Go short below S2.
Reliance Cap 1194 1206 1215 1224 1236 Go long abo R2,Go short below S2.
Reliance Com 510 515 519 523 528 Go long abo R2,Go short below S2.

Adlabs Film 607 613 618 623 629 Sell on rise to R2
DLF 610 616 622 627 633 Sell on rise to R2
SBI 1628 1642 1653 1665 1679 Sell on rise to R2
Tata Steel 635 641 646 652 658 Sell on rise to R2

As per Global cues Mkt open morethen 300 +

Dowjones + 391, Nasdaq +84
Birla Jute SL 200 tgt 208, 212, 220
Adlabs Buy SL 610 tgt 630, 645, 660
Rcom Buy SL 510 tgt 530, 538, 547
Bel Buy SL 1100 tgt 1130, 1150, 1180
Buy Ekc Sl 270 tgt 282, 290, 299
Markets opened on positive note and witnessed choppy trade through out the trading session. Nifty closed in green with gains of 5 points, while the Sensex closed in red with losses of 18 points. On the hourly charts, Nifty is in the making of right shoulder of an inverse head-and- shoulder pattern. Nifty made a low of 4,629 during the day and took support around the bottom of the left shoulder, which was around 4,620 levels. A break out of this pattern would occur once Nifty surpasses 4,970 on the upside. On the downside, Nifty has crucial support around 4,620,

Scrip Name Support Levels Close Resistance Levels Action
S1 S2 (Rs) R2 R1
NIFTY Futures4700 4748 4775 4802 4845 Go long ab R2,Go short below S2.
Adlabs Film 623 628 633 638 644 Go long with stop loss below S2
DLF 616 622 627 632 638 Go long abo R2,Go short below S2.
ICICI Bank 744 751 757 763 770 Go long with s l below S2
Infosys 1396 1410 1421 1432 1445 Go long with stop loss below S2
J P Associates 220 223 225 227 230 Go long with stop loss below S2
Reliance 2313 2332 2345 2358 2380 Go long with stop loss below S2
Reliance Ca 1195 1205 1212 1220 1230 Go long with stop loss below S2
Reliance Co 511 516 521 525 530 Go long with stop loss below S2
SBI 1603 1616 1625 1636 1650 Go long with stop loss below S2
Tata Steel 656 662 667 673 679 Sell on rise to R2

mkt Open positive Keep SSL 4800 and sell nifty on higher

Dow JOnes +46 Nasdaq +17
Today as per global mkt over mkt open also positive but at higher level you can see a selling pressure so keep SSl 4800 and sell nifty Nifty faced resistance at the upper line of the channel. During the day, Nifty made a head-and-shoulder pattern, whose breakout occurred in the fternoon session. After the breakout, the market went one way south till it finally closed at the day’s low.At this level it would be appropriate to assume that we are currently in the corrective phase and one-up leg is still pending as per Elliott Wave theory,
Rel Capital Keep sell below 1250