Monday Market 26/04/2012 -

11:05 AM - 

The market has come off the lows of the day but is still trading with substantial cuts. Sensex is at 17139, down 222 points from its previous close, and Nifty is at 5210, down 67 points. CNX Midcap index is down 0.7% and BSE Smallcap index is down 0.5%. The market breadth is negative with advances at 401 against declines of 948 on the NSE

10:46 AM - 

The market appears to be in a contraction phase which would make it trade sideways, says Ashwani Gujral, technical analyst, on ET Now. As long as 5200-5150 holds, we should not be too worried, he adds. He sees resistances at 5320 and 5362 with support at 5228 and 5178. For the week, we need to stay above 5289 and for today, above 5270 to remain positive,10-15 am
After a gap-down start, the market is now trading lower and with substantial losses. Sensex is at 17166, down 195 points from its previous close, and Nifty is at 5217, down 61 points. CNX Midcap index is down 0.7% and BSE Smallcap index is down 0.5%. The market breadth is negative with advances at 376 against declines of 834 on the NSE.

LAST FRIDAY’S (23.03.2012) CLOSE WAS AT 5278.20 (+49.75 POINTS). THE DAY HIGH WAS 5312.00 AND LOW WAS 5220.00. WEEKLY HIGH IS AT 5385.95 AND THE WEEKLY LOW IS AT 5205.65.
5SMA=5281
9SMA=5333
14SMA=5315
20SMA=5326
50SMA=5281
100SMA=5074
200SMA=5156

5-DAY RSI AT 44.88, 9-DAY RSI AT 45.50 AND 14-DAY RSI AT 47.47 INDICATES NIFTY IS IN BEARISH ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5280 AND NEGATIVE WILL BE BELOW 5250.

IMMEDIATE INTRADAY SUPPORTS ARE AT 5250, 5227 AND 5203 LEVEL.

IMMEDIATE INTRADAY RESISTANCES ARE AT 5295, 5310, 5324, AND 5340 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5200-5340.

VIX AT 25.47 (-0.86) IS INDICATING AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5280 FOR TARGET 5310/5340; STOPLOSS BELOW 5267.

SELL NIFTY FUTURE BELOW 5267 FOR TARGET 5240/5210; STOPLOSS ABOVE 5280.

FOR RISKY TRADE: BUY 5400CE BETWEEN 12-15 AND HOLD TILL EXPIRY WITH STOPLOSS OF 8

BEST BUY: WATCH FOR ITC (230CE), JPASSOCIATES (80CE) AND BHARATIAIRTEL (340CE)

ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS.

NIFTY POT LEVLS FO 26TH MARCH~~~!!!
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!~~~AVI ARORA~~~~!!!!

Today nifty index has a stiff resistance at 5302. Once if it manages to cross 5302, it might reach 5319 and 5335 too. Above those levels, bulls may take nifty to 5353 and even 5367 levels.

On the other side, below 5258 level, nifty may be dragged down to 5240 by bears. More action only below 5226. Once if nifty manages to cut 5226, it may touch 5211. Final support for bulls acting at 5190 level.

Sectors looking bullish
1. HC
2. IT
3. FMCG

Sectors looking bearish
1. Reality
2. Power
3. Bankex
Last day of March Exp. and 1st day of Apr. Exp. is vital. A reverses turn is expected.

Nifty spot if manages to trade and sustain above 5320 then some recovery can follow in the market and if Nifty spot breaks and trade below 5220 then some profit booking can follow in the market. Please note this is just opening view and should not be considered as the view for the whole day.

Important US data to be released today:

1. Ben Bernanke Speaks

2. Pending Home Sales

3. Chicago Fed National Activity Index

One should trade cautiously during the week as this the expiry week. Volatility is expected to rule. 

Investor should wait for the some trigger before buying. Result season to begin from the next week onwards and stock specific action could be seen. At these levels it is absolutely traders’ paradise rather than investors. One should be advised to book the profit on regular basis.

Lots of swing trade opportunity expected during the week.

Never blame any day in your life. Good days give you happiness, bad days give you experience. Worst days give you a lesson.!!