NIFTY SPOT TRADING NEAR ITS IMMEDIATE SUPPORT LEVEL WHICH IS 6140-6120. 6140 IS ALSO AN RETRACEMENT LEVEL. TRENDLINE SUPPORT COME @ 6123. NIFTY LOOK LIKE TO SUSTAIN THIS SUPPORT LEVEL & THERE AFTER UPSIDE LL BE RESUME. IF BOTH SUPPORT LEVEL BRECKS THEN SOEM DOWNSIDE LL BE SEEN FOR SHORT TERM.

 ONE MORE ROLLER COSTER RIDE WAS SEEN IN MARKET. ON MONDAY NIFTY MADE HIGH OF 5160 & ON TUESDAY TAKE U TURN FROM 5011. AGAIN NIFTY TRY TO BRECH 5170 LEVEL BUT ONCE AGAIN FAILED & REVERCE. NOW NIFTY MOVE ON NARROW RANGE OF 5000 & 5170 LEVLES. NIFTY TAKE A STRONG SUPPORT OF 20 DEMA. VOLUME ARE AGAIN REMAIN LOW. VOLUME ARE NOT SUPPORTING ANY DOWN MOVEMENT.
SO AS UP MOVE. THERE WASN'T SEEN ANY SPECIFIC SIGNAL FROM FII & DII. FII & DII TURN NET SELLERS. FII NET POSITINAL DOWN 626.94 CR. DII WKLY NET POSITIONAL DOWN 600.67 CR. DAILY OSCILLATORS ARE REMAIN IN POSITIVE ZONE. STRONG BRECK OUT WITH VOLUME ABOVE 5170 WILL TAKE NIFTY 5250-5335 LEVELS. & STRONG BRECK OUT WITH VOLUME BELOW 5026 WILL TAKE DOWN NIFTY 4925-4800 LEVELS. WKLY OSCILALLATORS ALSO REMAIN POSITIVE ZONE.

7 DEMA 5068.67.
20 DEMA 5026.53. 

  NEXT WK WILL BE CRUCIAL FOR MARKET. ONLY 3 TRADING SESSION WILL BE HELD ON THE EVE ON DIWALI & RBI ALSO GOING TO DECLARE CREDIT POLICY. WE HAVEN'T SEEN ANY RELIFE FROM INFLATION. SO ANY MOVE FROM RBI WILL GIVE SHORT TERM DIRECTION.

   A VERY VERY HAPPY DIWALI TO ALL & THIS NEW YEAR BRING PROSPERITY TO EVERY ONE LIFE. DIWALI MEANS VICTORY OVER NEGLIGENCE & DARKNESS. WILL PRAY THIS DIWALI MAKE OURSELF MORE HUMAN & BRING MORE HUMANITY IN OUR LIFE.

  LAST WK MARKET MADE IMMEDIATE BOTTOM AROUND 4720 LEVELS & WE SAW SMART RECOVERY WITH SOME GAP OPENING. BUT ONCE AGAIN NIFTY FACING RESISTANCE AT 5150 LEVELS. LAST TIME NIFTY REVERCE FROM 5170 LEVELS WHICH IS SUPPORT LINE OF DECENDING TRIANGLE. ABOVE THIS LEVEL WE WILL SEE MORE UPSIDE. THERE WERE A GAP PENDING NEAR 5335 LEVEL MAY BE NIFTY WILL TRY TO FILL UP THIS GAP IN THIS ONGOING RALLY. FROM LAST WK'S LAST 2-3 TRADING SESSION FII BECAME NET BUYERS THEY WILL CONTINUE THIS WK ALSO & ON OTHER HAND DII TURN NET SELLERS ON MARKET. VOLUME WAS NORMAL & NO SPECIFIC INDICATION FROM OPEN INTEREST ALSO. DEMA GAVE POSITIVE CROSSOVER. RSI ALSO MOVE ON POSITIVE ZONE. MACD ALSO SHOWS POSITIVE CROSSOVER BUT STILL IN NEGATIVE ZONE. ON WKLY NIFTY CHART ALSO OSCILLATOR GAVE POSITIVE DIVERGENCE. INDIA VIX TAKE SHARP DOWNMOVE FROM 36-37 TO 25. INDIA VIX HAS GOOD SUPPORT AROUND 24. NEXT WK WILL BE CRUCIAL FOR MARKET. EARNING ESTIMATE LL TRY TO MAKE IMPACT ON MARKET.
 
 7 DEMA 5025.60  

 20 DEMA 4988.14.
 

 NIFTY RANGE  SUPPORT 5040-4960-4890. RESISTANCE 5170-5220-5335.

AFTER A FEW SLGSH TRADING SESSION UPMOVE START ON LAST FRIDAY & CONTINUE ON MONDAY ALSO. IN QTRLY  MONETARY POLICY EVERYONE EXPECTED 25 BASIS POINT HIKE BUT RBI SURPRISE MARKET ON TUESDAY BY RISING REPO
RATE & REVERSE REPO RATE BY 50 BASIS POINTS & MARKET LOST ITS MOMENTUM. WE ALLREADY FACING HIGH INFLATION  RATE (DUE TO HIGH FUEL PRICE & DUE TO INACTIVE GOVT ROLE). FII SEEMS UNDECIDED ABOUT MARKET THEY REMAIN
NET BUYERS IN SOME SESSION & NET SELLERS IN OTHERS. FII WKLY NET POSITIONAL IN CASH DN 274.33 CR. & DII REMAIN NET BUYERS IN WEEK WITH NET POSITIONAL IN CASH UP 1076.17 CR. 200 DSMA STILL REMAIN RESISTANCE FOR
MARKET. LAST WEEK MARKET BRECK 7 DEMA & 20 DEMA. RSI ALSO GAVE SELLING SIGNAL. MACD ALSO MOVE ON NEGATIVE  DIRECTION. NIFTY TRADING NEAR LOWER LEVEL OF BOLLINGER BAND. IN DAILY CHART NIFTY FORMING A DECENDING TRIANGE.
ON NIFTY WEEKLY CHART ALSO RSI GAVE SELLING SIGNAL WHERE AS MACD REMAIN IN NEGATIVE ZONE. FROM HERE NIFTY  WILL FACE MANY RESISTANCE AROUND 5530-5545-5585-5605. ON LOWER LEVEL NIFTY WILL FIND SUPPORT AROUND
5450-5405-5340-5235.
     NEXT WEEK WILL BE VERY IMPORTANT FOR MARKET. IN US LEGISLATURE AUGUST 2ND IS THE DEADLINE FOR HIKING THE $ 14.3 TRILLION DEBT CEILLIN DEBT DRAW CLOSE. ITS VERY INTERESTING TO SEE WHAT DECISION WILL BE MADE
BY US LEGISLATURE COZ US ALLREADY CROSS ITS DEBT LIMIT. S & P ALLREADY DOWNGRADE US RATING.
             
STOCK TO WATCH :

RELIANCE SUPPORT 820-805-765. RESISTANCE 835-850-865.
SBIN SUPPORT 2305-2270-2170. RESISTANCE 2365-2395-2460.
HDFC SUPPORT 685-679-672. RESISTANCE 693-699-703-713.
TATAMOTORS SUPPORT 945-925-900. RESISTANCE 957-975-1005.

MARKET UNABLE TO CONTINUE UP MOVE THIS WK. BULLS & BEAR FIGHT FOR WIN BUT NO ONE GET VICTORY. FIRST 3 DAYS MARKET TRADE IN VERY NARROW RANGE ON THURSDAY NIFTY GAIN ALMOST 100 POINTS & LOSE SOME GAIN  ON FRIDAY. BUT SHORT TERM TREND ARE STILL UP. FII AGAIN REMAIN NET BUYERS IN ALL SESSION. FII WKLY NET POSITIONAL IN CASH UP 3563.73 CR. VOLUME REMAIN ON LOWER SIDE ON FIRST 3 TRADING SESSION BUT SOME HOW  IMPROVE LITTLE BIT IN LAST 2 SESSIONS. MARKET KEEP EYE ON QTRY RESULT WHICH STARTS FROM NEXT WK.
     NIFTY FIND RESISTANCE AROUND 200 DMA @ 5742 & AT SAME LEVEL LONG TERM TREND LINE ALSO CAME. FOR  FURTHER STRONG UPMOVE NIFTY SHOULD CLOSE ABOVE THIS BOTH LEVEL FOR 3-4 TRADING SESSION ON CLOSING BASIS.
ONLY ABOVE THIS LEVEL NIFTY WILL SEEN 5900-6000 LEVEL. IF NIFTY UNABLE TO TRADE ABOVE THIS THEN NIFTY WILL FIND SUPPORT AROUND 5610-5500-5420.

NIFTY 200 DMA 5742.
NIFTY 7 DEMA 5638
NIFTY 20 DEMA 5558.

STOCK TO WATCH :

RELIANCE SUPPORT 850-835-810. RESISTANCE 875-895-910.
SBIN SUPPORT 2440-2390-2365. RESISTANCE 2515-2575-2650.
LT SUPPORT 1815-1780-1745. RESISTANCE 1870-1921-2010.
TATAMOTORS SUPPORT 1027-1015-990. RESISTANCE 1075-1140-1175.

WHAT A WK FOR MARKET!!!!! SHORT COVERING CARRY ON THIS WK WHICH STARTED ON LAST FRIDAY. IT WAS SUSTAINABLE SHORT COVERING WHICH BRING MARKET UP & UP. ONCE AGAIN MARKET PROVE ITS SUPREMACY. MARKET LOUDLY TOLD US THAT DON'T TRY TO JUDGE ME JUST FOLLOW ME. EVERY ONE EXPECTING NIFTY MAY
FACE RESISTANCE AROUND 5450-5500-5605 BUT NIFTY NOT ONLY BRECK ALL THIS RESISTNCE BUT MADE HIGH OF 5705 & CLOSE ABOVE 200 DEMA ALSO. WKLY INFLATION ALSO HELP MARKET WHEN IT DROP FROM 7.78 % FROM 9.13 %.
GOOD ROLLOVER WAS SEEN IN NIFTY 67 % V/S 60 %. MARKETWIDE ROLLOVER ALSO REMAIN ON POSITIVE SIDE  77 % V/S 73 %. THIS WK SENSEX GAIN 2.86 % & NIFTY GAIN 2.85 %. FII WHO REMAIN NET SELLER IN LAST  FEW WK SHIFT BUYING SIDE THIS WK. FII WKLY NET POSITIONAL IN CASH UP 5127.18 CR. & DII SHIFTED FROM  BUYING TO SELLING SIDE. DII WKLY NET POSITIONAL IN CASH DWN 2810.72 CR. 
 
NOW WHAT IN NEXT ???
 NIFTY CLOSE ABOVE 200 DEMA. SHOWS STRONG SHORT COVERING. WILL SUSTAIN THIS LEVEL?? MARKET REMAIN IN BROAD RANGE OF 5900- 5200 IN NEXT FEW MONTH. SHORTTERM OUTLOOK CHANGE BUT LONGTERM OUTLOOK REMAIN ON
DOWN SIDE. THE MAIN CONCERN IS VOLUME.IN LAST TWO WK ONLY 1 DAY WE SAW THE VOLUME WHEN NIFTY FALL AFTER DOUBLE TAXATION AGREEMENT NEWS. AFTER THAT NO MAJOR VOLUME WAS SEEN.NIFTY WILL FACE RESISTANCE  AROUND 5740-5800-5850 & SUPPORT AROUND 5605-5545-5480.
STOCK TO WATCH :
RELIANCE SUPPORT 854-845-832. RESISTANCE 868-878-892.
SBIN SUPPORT 2380-2345-2300. RESISTANCE 2430-2495-2540.
LT SUPPORT 1800-1725-1640. RESISTANCE 1850-1935-2010.
TATA STEEL SUPPORT 595-590-582. RESISTANCE 608-615-623.
APOLLO TYRE 19TH JUN BLOG TOLD THAT ABOVE 74 LEVEL IT LOOKS GOOD. YESTERDAY IT MADE HIGH OF 80.40. IT WILL FACE RESISTANCE AROUND 84-89 LEVEL. 

LAST WEEK WE SAW HIGH DRAMA IN MARKET. NEWS OF DOUBLE TAXATION AGREEMENT WITH MAURITIUS TOUMBLE THE MARKET. NIFTY MADE LOW OF 5195.90 & MANAGE TO CLOSE AT 5257. UNEXPECTED RECOVERY WAS SEEN ON FRIDAY MARKET GAIN MORE THAN 3%. NOT ONLY INDEX BUT STOCK ALSO SHOWS UNEXPECTED MOVEMENT. FII WHO REMAIN NET SELLER FROM LAST FEW DAYS TURN NET BUYER IN LAST FEW SESSIONS. FII WKLY NET POSITIONAL IN CASH DWN 243.68 CR. DII STILL REMAIN NET BUYERS. DII WKLY NET POSITIONAL IN CASH UP 1206.19 CR. THE MUCH AWAITED NEWS CAME ON FRIDAY EVENING. DISEL, KEROSN & LPG PRICE WAS HIKE BY GOVT. ITS INTERESTING TO SEE HOW MARKET REACT ON THIS.
 
   NOW WHAT TO EXPECT? NIFTY TRADED WITH LOW VOLUME FROM LAST MANY DAYS. SO FOR FURTHER ANY UPMOVE OR DOWNMOVE  WE NEED CONFIRMATION FROM IT. RSI SHOWS SOME POSITIVE DIVERGENCE. NIFTY FACE RESISTANCE AROUND 5500-5555-5600. WHERE SUPPORT AROUND 5440-5415-5372.
NIFTY 7 DEMA 5371.42.
NIFTY 20 DEMA 5423.81.
NIFTY 200 DEMA 5577.54.

STOCK TO WATCH :

RELIANCE MADE LOW 833.25 & BOUNCE BACK.
SUPPORT 862-855-848. RESISTANCE 875-888-890.
LT ONCE AGAIN TRADE NEAR SHORT TERM RESISTANCE OF 1740 LEVEL.
SUPPORT 1705-1687-1665. RESISTANCE 1760-1830-1890.
TATASTEEL RSI ON DAILY CHART SHOWS SOME POSITIVE DIVERGENCE.
SUPPORT 572-568-566. RESISTANCE 582-590-595.
SBIN SUPPORT 2250-2205-2165. RESISTANCE 2295-2350-2395.