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SENSEX (15922.34)
Resistance : 15975 / 16025 / 16090 / 16130
Support : 15880 / 15725 / 15665 / 15540
NIFTY (4732.35)
Resistance : 4745 / 4760 / 4775 / 4790
Support : 4705 / 4655 / 4630 / 4595 / 4535
NIFTY FUTURE (4737.8)
Resistance : 4780 / 4825
Support : 4705 / 4680 / 4605
If On Monday
- NIFTY Closes With Good Gains Or Around 4770, Start Lightening Your Positions By 20-25% Within Thursday, Would Get An Oppurtunity To Buy Again At A Much Cheaper Price.
- NIFTY Closes In Red,Start Buying Good Stocks With Very Good Fundamentals Till Thursday, Will See Good Returns Soon.
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WEEKLY MARKET OUUTLOOK
WEEK GONE BY Nifty remain +ve throughout the week after strong Monday gains. Friday trading session saw a new 2009 high for Nifty. Weekly low was 4536.95, weekly high was 4743.75
WEEK AHEAD Nifty on verge of very bullish breakout above 4730. Bullish Inverted Head and Shoulders formation on Nifty, breakout above 4730-4800 on high volumes, gives medium term target of 5400-5500. However another significant resistance is 61.8% Fibonacci retracement of entire bear market fall, which is at 4800 Nifty. Weekly Close above 4800 can trigger a very sharp rally northwards. Nifty weekly supports 4510-4360, weekly resistances 4800-4970. Upmove is intact till uptrend support line holds.
Total OI of DLF FUT down 3.93% prices up 8.14%, HDIL FUT down 8.19% prices up 13.65%,IBREALEST FUT up 31.47% prices up 6.34% and
UNITECH FUT up 2.96% prices up 15.74%last week. OI down due to expiry last week. REALITY counters showing long positionsbuild up.
We expect positive move next week.
STOCK TO WATCH : VOLTAS FUT (Bullish)
Total OI of VOLTAS FUT up 87.94% prices up 12.74% last week.VOLTAS (SEP) FUT Intraday high 163.40, Intraday low 141.60last week.
We expect up move in coming week.
Weekly NIFTY FUTURE Observation
1) Total OI of NIFTY FUT down 10.73%, NIFTY FUT up 4.44% last week. OI down due to expiry.
2) Out of NIFTY 50 Stock FUTS, 41 Stock FUTS closed positive, 03 Stock FUTs closed negative and 06 StockFUTs close flat last week.
3) OI of current series NIFTY 4700 CE is up 55.75% prices up 194.03%, NIFTY 4800 CE is up 173.26% pricesup 60.32% and NIFTY 4900 CE is up 88.19% prices up 54.44% last week showing call buying. OI of NIFTY 4900 CE is 30.38 LK highest OI in CALLs.
4) OI of current series NIFTY 4300 PE is up 81.41% prices down 64%, NIFTY 4400 PE is up by 98.65% pricesdown 60.43% last week showing put writing. OI of NIFTY 4500 PE is up by 121.43% prices down 57.10%, NIFTY 4600 PE is up 1330.93% prices down 52.48% last week showing aggressive put writing.NIFTY 4500 PE is 36.73 LK highest OI in PUTs.
5) Total OI of SEP series CALLs is up by 80.29 LK to 1.62 CR, SEP series PUTs is up by 1.22 CR to 2.36 CR.NIFTY SEP series PCR (OI) at 1.45.
PCR (OI) at higher side in new series compare to last 3 series.
CONCLUSION
NIFTY SPOT to show up move next week. Resistance Around 4880-90, 4930-40 levels. Above 4950 levels, next TGT will be 4990-5000 levels.
We expect profit booking above 5000 levels. On down side, NIFTY SPOT Support Around 4700-4690, 4600-4610 levels.Stock specific move will remain next week.
Buy (Delivery , With Strict Targets & Stoploss)
[ First Target Hits, Sell 30-50% & Move Sl To Your Cost Or Above ]
Sell Below 980,Sl 990,Tgt 968/58/53/Close Below 955, Next Tgt 940/30/20 In Coming Days
OR
Buy Only Abv 1005,Sl 997,Tgt 1015/25/Abv Uptrend Sharp
Pepper
Sep' 09
15375
15550
15669
15850
15975
buy abv 15850 S/L 15750 and T/p 15970/16065/16150/Close abv seen towards 16400-16675-17000 in coming days OR buy ard 15390-400 S/L 15375 and T/p 15550-15700